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| Europe |
| Greece full debt repayment unrealistic: Syriza |
| 2015-01-28 |
| [Iran Press TV] The top economic front man for Greece's victorious Syriza Party says it would be unrealistic to expect the country to repay its massive debt in full. "I haven't met an economist in their heart of hearts that will tell you that Greece will pay back all of that debt. It can't be done," said Euclid Tsakalotos as quoted in a BBC report on Tuesday. "Nobody believes that the Greek debt is sustainable," Tsakalotos added. Greece's far-left Syriza Party, which won the general election on Sunday, says the country's 240-billion-euro bailout by international lenders must be renegotiated. The Syriza front man further stated that EU leaders needed to demonstrate that they were willing to work with the victorious Greek political party. "It's going to be a very funny and a very dangerous Europe with very strong centrifugal political forces if they signal that after a democratic vote they're not interested in talking to a new government," Tsakalotos said. "It will be a final signal that this is a Europe that can't incorporate democratic change and it can't incorporate social change." |
| Posted by:Fred |
| #14 You &##$%** up. You trusted us. - To paraphrase Animal House |
| Posted by: Procopius2k 2015-01-28 16:51 |
| #13 The Socialist Cycle 1. Promise everything to everybody. 2. Run up bills for #1, above 3. Issue paper to cover #2, above 4. Default on paper (#3, above) while blaming "Corporatists." 5. Install new Socialist Government to "Fix Things." 6. Return to #1, above. |
| Posted by: Angineting tse Tung2201 2015-01-28 15:26 |
| #12 Replace Malvinas with Cypress and you might have a strategy. if I were the Turks I'd watch Greek military spending and avoid any entanglements elsewhere for awhile. Might be an opportunity to solve the Cypress problem one way or another in the near future. |
| Posted by: rjschwarz 2015-01-28 14:27 |
| #11 "with over 50% of the people work for the government" I have to explain to my government worker friends that when they say they pay taxes, it more like they're actually 'leaving' their money in the pot that's filled by the private sector businesses and workers. Somehow, we're still friends (although a lot of them still don't really get it). |
| Posted by: Mullah Richard 2015-01-28 09:03 |
| #10 "We need a distraction. 'The Malvinas have always been Greek!' should work.." |
| Posted by: Frank G 2015-01-28 08:57 |
| #9 and investment in Greece will die. They are on their way to nationalization and confiscation since nobody will loan to them again |
| Posted by: Frank G 2015-01-28 08:56 |
| #8 The Germans, no fools when it comes to finance, have spent the last couple years dragging the rest of the EU to the point where they can handle the Greeks. They can boot the Greeks from the euro, fix the German banks who are left dangling, and mitigate the damage to the rest of the EU banks. The Greeks then will have a drachma that becomes increasingly devalued while Germany just goes on going on. Merkel is going to take a hard line on this one. |
| Posted by: Steve White 2015-01-28 08:35 |
| #7 They will of course be shocked that no one wants to sell them anything unless it's cash up front. Maybe they can talk to Maduro in Venezuela about options. Eurocrash in 5,4,3 ... |
| Posted by: ed in texas 2015-01-28 08:14 |
| #6 Greece is going to demand Germany pay for Nazi war crimes. They'll burn through that money in a few hours if it ever happens. Very doubtful. |
| Posted by: Deacon Blues 2015-01-28 07:55 |
| #5 "It will be a final signal that this is a Europe that can't incorporate democratic change and it can't incorporate social change." Oh, that's rich. You can borrow money from someone, spend it all on comfort, and arbitrarily declare that you aren't going to pay it back because not paying it back equals "social justice". The accurate term is "larceny". If the value of your labor to other people only affords you enough money for rice and beans, demanding a sirloin is stealing and thuggery. |
| Posted by: no mo uro 2015-01-28 06:00 |
| #4 Trouble in EU Paradise? |
| Posted by: g(r)omgoru 2015-01-28 03:26 |
| #3 Fine Greece. Default. Vote to spend more. Wheres it come from? Your printing presses? OK - without banking to back it, get ready for a replay of Weimar Germany and hyperinflation inside your borders when the Euros kick you out and you have to go back to the G. Drachma. |
| Posted by: OldSpook 2015-01-28 03:22 |
| #2 Ditto as per recent MSM-Net Artics on US Debt. Is the US going to pay its debt - the answer from the Bammer Admin is seemingly a "yes"??? |
| Posted by: JosephMendiola 2015-01-28 01:21 |
| #1 It is all of those silly entitlement programs of the liberal socialist paradise that make debt repayment unsustainable. How can you repay debt with over 50% of the people work for the government and you can bet more money unemployed than you can by working? |
| Posted by: Mystic 2015-01-28 00:13 |