o h ree hee heealy? Just you sit there in yer wee hot pokey office and do some reading. Leave the grown up stuff to me and MD. p.s. It's my birthday next week, mind enable my extra buttons
Eh, I dunno. Maybe the fact that the SNP are the loudest anti-austerity voice in the UK? Where the **** do you read this **** anyway? Next to all of Greece's bailout money has went to private sector creditors. Then, just for laughs, a great portion of it went to banks in Germany and France. You think it all went on unemployed people, pensioners and the like? So basically - You're pissed off that the EU paid out a massive bailout, that was essentially returned to EU countries. Eh hurr a durr?
The Greek people are daft. Their own corruption caused the problems they're in now and what did they do? Recently vote in a non-austerity Government like that's gonny solve their problems And now their banks have shut down till the vote next Sunday the daft ****s still don't realise their vote means nothing. Socrates was also a ****.
Greece will be fine Imagine the EU let Greece succumb to its debt problems and they actually solved it...that's every tinpot dictator who owes money looking at a precedence The debt doesn't matter it's the show of the debt being repaid that matters A rescue package is imminent and if not I'll run for Treasurer in our new Greek Chat paradise
Greece had borrowed from the market at like 5% interest, while Germany could borrow at about 1% interest - so Germany (and others) lent the Greeks at 1% so they could pay off the 5% debts - thereby massively reducing their interest bill and keeping their state viable. So yes the money was used to pay off private sector creditors - but it was Greece who had borrowed from them in the first place, and it was cheaper for Greece to pay them back with bail out money than to borrow from the market to refinance their existing debt. You could be cynical and say it was all about saving German banks, or private investors etc - but I'd like to believe that it was about saving the Greeks from having a scenario like the current one - and also saving countries like Spain and Ireland from suffering the same fate if the markets lost confidence.
Aye, in global terms debt goes away. When Barrie goes bankrupt his debt will go away (but still somebody else pays for it or loses by it). Countries don't go "bankrupt". They either repay their loans or default. In the event of default Greece becomes a free for all. You won't need an army to invade Greece just cash.
