I'm not justifying anything. I'm simply saying the debt cannot and will not be repaid. And with that, I'll leave you to rant and froth on your own.
of course you do. The whole time you make suggestions and point into directions and each time someone comments on it you get agitated and accuse them of misinterpreting you. By the way that is not what you "simply" said. You also said that but that was not all you said. Typical attitude of a Theoretician who dumps his poo and then disappears, never really actually entering into any meaningful discourse. (other than of course copying from some other website and immitating the view that "debt cannot be repaid and wont be repaid"). Bravo And I say sure, Greece has the choice to go bankrupt. And I agree there is a certain percentage attached to this happening. But Greece will be the country that will pay the highest price for this choice not just this year, not just in the next few years, it will be a choice that will brand where Greece will stand for the next several decades. I hope their leaders and especially their people are fully aware of all the consequences such choice will entail.
I do not hate Greeks nor have I suggested such in any way. I strongly dislike the demanding and lazy attitude of most Greeks, yes. You have been to Greece numerous times and claim German tourists as well as other European tourists still choose to vacation there? Then I simply say you are misinformed. Unless you love to risk getting spit into the soup you order you better skip Greece for the next few years as European vacationer. And most Europeans are aware of the current sentiment of Greeks towards other Europeans (they make crystal clear that they hate anyone who does not give them free money and candy). So with all due respect to your engagement in Greece but that means next to nothing. Can you share first person experience of perceived sentiment in Greece after the curtains fell? If yes then share it, else your engagement in Greece and time spent in Eastern Europe means very little to this discussion.
See and in that you are still absurdly wrong. The debt can be repaid to the cent IF Greeks would be serious about cost saving measures and tightening the belts of government expenditures. The problem is that they lied they would but in reality could not care less. They lied to their partners and deceived them for years. That is in most jurisdictions, most cultures, most friendships a big issue. Would you disagree?
Stop taking every single word in the wrong context that I say. That is childish. I did read your posts (all of them in this thread) and I read the Mish post and link. It simply talks about repaying debt when the interest charged on such loans was 0%. This is not the issue at all. If Greece was serious about structural reforms then they would make changes to how they collect and charge taxes, they would tighten their belts and would think of how to revive their economy. Soon enough they would look at budget surpluses. You know, partial debt forgiveness can always be put on the table when the one owing money made progress and can demonstrate that he works hard to repay but cannot go the whole mile. Greece is sitting on its lazy ass and does nothing. They are instead laughing at the rest of Europe.
See, this is what I'm talking about. You just make shit up to suit your own point. I didn't say German and other European tourists still choose to vacation in Greece. Show me where I said that and we'll continue. Otherwise, give it a rest. Debating with you is like talking with a 12 year old.
How dare they raise prices! Uneducated in the ways of econ 101! ROFLMAO! Your post demonstrates your business illiteracy.
Quite incredible how much GERMANY has benefited from the fall in the euro and the bond buying over the years by the ECB. Very few mention this. All one sided on how Germany has to bail everyone out.
Can't make up shit like this: Isn't this what you said? => "In no time, people outside Greece will begin to find cheep holiday deals in Greece and they'll come back because their currency will go a long way. The Greeks will be back on the road to prosperity faster than most think." I refuted your point, sharing own experience how locals have zero understanding of econ 101 and rather yank up prices by 500% in order to end up with similar revenue as result of fewer tourists. Combine that with with a vivid imagination of what your average Greek cook or waiter does to your pre-served food given they know the ordering customer is German or Dutch. There is a reason German or other paying customers will stay far away for years to come. But hey, you are probably welcome if you walk around with a big sign hanging around your neck that reads "I am not European" (whether you are or not, I have no idea).
clearly you just flame and have zero clue. Which fall in the euro? The euro has shot up to 1.40 levels and Germany still sold RECORD number of cars and other shit to the rest of the world even a lot more than when the Eu. Equally has it sold vast amounts of produce to European neighbors before AND after the deutsch mark fix. I could make an equally dumb statement that Germany has benefitted because the Drachma has been fixed at a way too high value against the euro, but I do not say such because I know better. The German economy is booming because its economy is not overladen with debt and German products are in demand unlike Greek porcelain penises and what have you. Educate yourself first before you make dumb statements.