Someone please explain to me why ANYONE would now step forward to lend Greece money knowing that they only intend to pay a fraction of it back.
It’s not like that.
Greece wants to refinance- make a hundred monthly payments of $110 bazillion instead of 50 monthly payments of $200 bazillion.
So there’s money to be made- as long as the game can be kept going.
Despite the fact of your statement is unquestioned, thats exactly what the EU was prepared to do.They would lend them 50 billion Euro’s so they could keep paying bills. And then again and then again. It was as we like to say here, a transfer of wealth.