The issue is not whether Greece should repay its debt.
The issue is whether Greece can do so without generating economic growth to pay it.
Austerity is politically impossible. EU leaders are beginning to understand without change, the EUSSR will go the of the Soviet Union.
“The issue is whether Greece can (repay its debts) without generating economic growth to pay it.
Austerity is politically impossible. “
SYRIZA is not planning a pro-growth agenda - they campaigned on a massive tax and spending spree, accompanied by extensive ideologically driven changes, to leave NATO, break ties with Israel, change the constitution, restrict the church, etc.
Among their long list of new taxes, they propose targeting the high earners with a 75% income tax, like the one that worked out so well in France. They also seek to extensively target shipbuilding and tourism - the only things that significantly still work in the Greek economy.
They plan to rely on Government “Stimulus” spending on social programs, and “fairness” to jump start their economy.
Among their massive new spending proposals is free healthcare, free lunches for preferred groups, free electricity for those the government deems poor, and an enhanced quality of life for illegal immigrants to be provided by the Government (this will be free too), increase government pensions, hire 10,000 more government employees, and on, and on..
Naturally, they don’t have money to pay for these things, so they will need to take money from others to do them. They have proposed a wide range of nationalizations - hospitals, utilities, airports, banks, etc. That should get investment racing - for the borders. So they also have proposals to impose capital controls on peoples money.
SYRIZA is predominantly a hard communist movement - they are a wrecking ball which will demolish wealth in Greece.