[Oldeconomybuyer]

[Opinionated Blowhard]

Just like a drug addict who does anything and everything to keep using drugs, Greece will do anything and everything to keep the spending and entitlement gravy train going. Spending must be protected at all — all — costs.

[Rummyfan]

Since avoiding taxes is a national pastime in Greece, this should really make a difference.

[grania]

I’m just guessing. Won’t the Greek population’s response to their leaders proposing more taxes to pay for the EU loans that haven’t benefited the little folk be just a bit on the hostilely outraged side?

[St_Thomas_Aquinas]

The new proposals by Athens aim to raise €8bn, mostly through new taxes on the wealthy and businesses, early retirement restrictions, VAT increases and a cut in defence spending.

Sounds familiar. I'm sure the Greeks will experience similar success.

[2001convSVT]

Nothing can save Greece, this is all just a game of musical chairs among international bankers designed to buying time, to trade the bonds to someone else (like U.S. and E.U. tax payers). In the end the bankers win and the tax payers lose.

[Sacajaweau]

http://www.imf.org/external/np/sec/memdir/members.aspx

[RayChuang88]

Let's just admit it: Greece is too far gone. We should right now do a planned exit of Greece from the Eurozone phased in over 12 to 18 months, which would actually stabilize the equities market around the world because it injects stability to the process.

[I want the USA back]

It’s going to fail. The public is hurting enough already. They will squawk. The tax hikes will further destroy productivity and jobs. The underground economy will rise fast, further cutting tax revenue.

I see no way out of it for Greece. Unfortunately, I don’t see Germany, France or Italy doing anything but giving Greece more money. The end result will be the same in any case.