Quote:
Originally Posted by chemgear
Even more angst as Greece tries to get some more money to keep afloat for a little while longer. Ironically, all this is just to stay afloat until the next debt payment is due - it doesn't even begin to address the problems or actually solve anything. The austerity (and the debt they piled up for so many years) is pushing their economy into a death spiral.
http://business.financialpost.com/20...nst-austerity/
http://business.financialpost.com/20...imf-officials/
Greece’s largest police union has threatened to issue arrest warrants for officials from the country’s European Union and International Monetary Fund lenders for demanding deeply unpopular austerity measures.
In a letter obtained by Reuters Friday, the Federation of Greek Police accused the officials of “…blackmail, covertly abolishing or eroding democracy and national sovereignty” and said one target of its warrants would be the IMF’s top official for Greece, Poul Thomsen. |
If you want to preserve your national sovereignty then don't drive your economy into the ground and then expect no strings bailouts.
I think that the only option for the EU is to put a hard deadline on austerity cuts and make it an all or nothing proposition.
Either comply or get absolutely no money to service your payrolls and debts.
The EU not only needs to firewall themselves against this situation, but to turn off the spigot which threatens to drag everyone down.
The EU needs to start by withdrawing their presence due to this threat by the police to arrest them.
Personally I want to wait until the country goes bankrupt and they have a bankruptsy auction so I can buy some stuff for cheap.