you can't borrow, get 100 EU billions in haircuts few years ago, have monthly salaries in the administration and bureaucracy between 1.5-1.7 monthly, get 60 EU billions 5 years ago and not expect to default with 90 EU billions only in salaries in public sector. And those were only salaries expenses. Incompetent, malignant, and corrupt bureaucracy is Greek's heritage. No one will pay for that. When they borrow money in the eurozone they borrow money from middle class people who put that money into the bank. Then they call elections, and now are in recession, even though months before the elections they were on the upward line. They were already in the state that could service their own budget without borrowing and on top of that pay 3.4% interest to the creditors. The issue was that they didn't wanted to pay that 3.4%. All of this we see today is that 3.4%. And of course an insane idea that communism will rule the EU. Once more. He is an asshole, a person who calls the ordinary people who borrowed money to the Greeks for years terrorists and nazists. Good riddance.
I can't fault the Greek government for lending what the creditors (banks from Germany and France) were willing to provide. I think the creditors made a huge mistake in their greed and thinking it was a sound investment since the credit would be backed by strong countries in the Eurozone anyway. And I also think ik was a huge mistake to include Greece in the Eurozone, since at the time the problems with the Greek economy were already well known.
Now the Greeks have voted no, we finally have reached the moment we can right these wrongs. Greece should leave the Eurozone so they can achieve a better trade position. The Greek debts should be wroten off as losses to the creditors so the Greek economy can recover. And perhaps other weak countries in the Eurozone should follow suit, eventually.
It's morally wrong to keep the Greek people in endless debts that they'll never be able to repay anyways.
