In addition, they must amend the Constitution to allow unelected EU Bankers, known as "The Troika", to control all matters relating to Greec's economy.
People paying attention, especially on Twitter, are going nuts, as evidenced by the world-wide trending "Thisisacoup" hashatag. Even Krugman has weighed in with an Opinion.
Greece is finding out what Margaret Thatcher said: “The problem with socialism is that you eventually run out of other people’s money.”
if they don’t like it, perhaps they can find some other way to pay their bills. Otherwise, the entire country is on welfare.
POLONIUS: (Sings) Neither a borrower nor a lender be,
Do not forget: Stay out of debt; Think twice, and take this
good advice from me, Guard that old solvency. There’s just one other thing you ought to do. To thine own self be true.
[Enter entire cast]
ALL:
(Sing)
Neither a borrower nor a lender be,
Do not forget: Stay out of debt;
Think twice, and take this good advice from me,
Guard that old solvency.
There’s just one other thing you ought to do,
To thine own self be true.
http://www.gilligansisle.com/hamlet.html
I don’t feel sorry for either side, frankly.
It’s too bad Greece put itself in this position.
Until Greece stops spending 56% of its GDP on governance, there is no way to slow the waterfall of debt. Greece manufactures pensions.
And I’m not sure what you might call that kind of spending, but it’s not austerity.
They will get “austerity” either way they go.
We have a Central Bank and Wall Street dictatorship, why shouldn’t they?
I don't care what Krugman says. Even if he agrees with me (fat chance in hell) he's still wrong. A broken clock is right more than he is.
The gimmedats have spoken.
Anyone know how to translate “we want our free stuff” to Greek?
They surrendered their national sovereignty when they joined the EU in 1981.
There’s a verse I think that says “debt will make you a slave.”
They could always decline all further help and maintain complete control over their affairs.
China will do th his to us one day.
End-stage socialism.
Even Krugman, you say...
Speaking of coups...
That’s all beside the point. Greece has too many government employees receiving too much pay and too much dependence on tourism. And if Greece were really doing enough production to support itself, leaving the euro would be no problem.
The same applies to the U.S.A., and I look forward to the housecleaning and resumption of a real, productive American economy. It’s nearly time to take out the trash.
Default, repudiations of debt and the rebuilding of honest productivity with a strong private sector are on the way, no matter what the various big-spending socialist factions with temporary influence try to do to avoid those consequences.
It’s coming. There’s no way out of it. Big government cannot continue to be big without big, real revenues of real value. No amount of foreign noise will stop that or the ongoing efforts of real Americans to prepare to work again without the regulations and other hindrances of robbers in the way.
Well, color me surprised. Tcrlaf siding with the communists and singing the left wing songs again.
Bangladesh, Burkina Faso, Ivory coast , Congo, Chad, Venezuela, Argentina, Ecuador, Indonesia, Philippines
Partial list of countries that got behind on their IMF payments and had the treatment Greece is now being forced to accept