Posted on 02/16/2015 2:05:21 PM PST by NRx
Greece is on a collision course with the eurozone’s creditor powers after emergency talks ended in acrimony on Monday night, triggering the most serious political crisis since the launch of the euro.
The Leftist Syriza government reacted with fury to eurozone demands that it must stick to the country’s discredited austerity plan, describing the draft text as “absurd and unacceptable”.
(Excerpt) Read more at telegraph.co.uk ...
It appears that the experiment with debt has been thoroughly tried to dessication and beyond.
the Greeks will muddle through
It sounds like the EU wants to know how Greece will pay the money back before they lend any more money. That does not seem so entirely unreasonable.
If the EU had pro growth policies, it would make it easier for the Greeks to swallow the castor oil.
It doesn’t and at this point Athens has nothing to lose by pulling out of the EU monetary union.
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