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Topic: Re:Re:The Greek tragedy
Posted by: David Darlow
Date/Time: 11/07/15 13:50:00

I share everyone’s anger at the Greeks’ behaviour over the past 14 years – the deliberate fudging of the books in order to gain admittance to the EU; the reckless borrowing of EU money, putting them billions in the red; the chicanery of this Syriza bunch; the “have cake and eat it” vote by the Greek people to stay in the eurozone, but reject its conditions. But all that (or most of it) is now in the past. 
We now have a situation where a middle-ranking EU country is on the brink of disaster. If we refuse assistance, and force them out of the EU, the consequences will be grave. The banks will stay closed, wages will not be paid, firms will be unable to survive, the tourist industry will be crippled, with half of all young people already out of work.  It will take massive emergency aid from the EU (including Britain) and IMF just to keep them afloat, let alone remedy the situation. 
On the other hand, if we give in and subsidise them once again, we are merely kicking the can further down the road. More austerity won’t work. Already they cannot afford to repay their debts. So in another year or so we will have a repeat performance….the begging bowl, the histrionics, more wasted bailout money
So what is the answer?  I believe that it is time for drastic steps. I would advocate cancelling all Greek debt. Most of it is held by central banks and the IMF, and so will not have tremendous impact.  Such losses would likely be dwarfed by any emergency assistance we would have to pay if Greece goes under.
In return, we would insist on a new Greek government that could be trusted to carry out the vital reforms which would put Greece back on its feet within a short time, say three years.  Such reforms to include stamping out corruption, tax evasion, ridiculously-generous pensions, an overstuffed public service etc.  And the new government would be under the microscope by EU officials. If it failed to honour its pledges then it would be expelled from the Eurozone. End of story.

Entire Thread
TopicDate PostedPosted By
Tomorrow's Greek vote04/07/15 16:14:00 Alan Clark
   Re:Tomorrow's Greek vote04/07/15 16:50:00 Richard Greenhough
   Re:Tomorrow's Greek vote04/07/15 16:59:00 Michael Brown
   Re:Tomorrow's Greek vote04/07/15 17:05:00 Charles Campbell
      Re:Re:Tomorrow's Greek vote04/07/15 20:05:00 Stuart Kerr
         Re:Re:Re:Tomorrow's Greek vote04/07/15 21:06:00 Charles Campbell
   Re:Tomorrow's Greek vote04/07/15 21:44:00 bobby osborne
      Re:Re:Tomorrow's Greek vote04/07/15 23:49:00 Charles Campbell
         Re:Re:Re:Tomorrow's Greek vote05/07/15 02:06:00 Gerry Tan
            Re:Re:Re:Re:Tomorrow's Greek vote05/07/15 04:21:00 Madeleine Hazard
               Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 01:25:00 Alan Clark
                  Grexit06/07/15 06:51:00 R Atterwill
                     Re:Grexit06/07/15 08:26:00 Colin Jordan
                        Re:Re:Grexit06/07/15 09:20:00 Richard Greenhough
                           Re:Re:Re:Grexit06/07/15 09:38:00 Larry Stamford
                              Re:Re:Re:Re:Grexit06/07/15 09:42:00 Richard Greenhough
                                 Re:Re:Re:Re:Re:Grexit06/07/15 09:48:00 Larry Stamford
            Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 09:52:00 bobby osborne
               Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 10:01:00 Michael Brown
                  Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 10:40:00 Charles Campbell
                     Re:Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 11:06:00 bobby osborne
                  Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 11:09:00 Richard Greenhough
                     Re:Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 12:15:00 Cllr Sam Hearn
                     Re:Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote06/07/15 12:50:00 Robert Fish
                        Re:Re:Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote10/07/15 19:36:00 Michael Brown
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Tomorrow's Greek vote10/07/15 19:45:00 bobby osborne
                           The EU is dysfunctional 10/07/15 21:10:00 R Atterwill
                              Re:The EU is dysfunctional 10/07/15 21:16:00 bobby osborne
                                 Re:Re:The EU is dysfunctional 10/07/15 21:26:00 Claire Moran
                                    Re:Re:Re:The EU is dysfunctional 10/07/15 21:37:00 bobby osborne
                                       Re:Re:Re:Re:The EU is dysfunctional 10/07/15 21:48:00 Claire Moran
                                          Re:Re:Re:Re:Re:The EU is dysfunctional 10/07/15 21:56:00 bobby osborne
                                 Re:Re:The EU is dysfunctional 10/07/15 23:23:00 Alan Clark
                                    Re:Re:Re:The EU is dysfunctional 10/07/15 23:34:00 bobby osborne
                                       Re:Re:Re:Re:The EU is dysfunctional 10/07/15 23:39:00 Claire Moran
                                          Re:Re:Re:Re:Re:The EU is dysfunctional 10/07/15 23:45:00 bobby osborne
                                             Re:Re:Re:Re:Re:Re:The EU is dysfunctional 11/07/15 09:07:00 Richard Greenhough
                              Re:The EU is dysfunctional 10/07/15 21:21:00 Claire Moran
                                 Re:Re:The Greek tragedy11/07/15 13:50:00 David Darlow
                                    Re:Re:Re:The Greek tragedy11/07/15 14:08:00 Claire Moran
                                    Re:Re:Re:The Greek tragedy11/07/15 14:57:00 Richard Greenhough
                                       Re:Re:Re:Re:The Greek tragedy11/07/15 15:07:00 Julian Pavey
                                       Re:Re:Re:Re:The Greek tragedy11/07/15 15:38:00 David Darlow
                                          Re:Re:Re:Re:Re:The Greek tragedy11/07/15 16:10:00 Keith Iddon
                                             Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 17:04:00 Claire Moran
                                                Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 17:46:00 Keith Iddon
                                                   Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 20:16:00 David Darlow
                                                      Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 20:48:00 Ann Williams
                                                         Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 21:12:00 Andy Pease
                                                      Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 21:30:00 Keith Iddon
                                                      Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 22:41:00 Richard Greenhough
                                                         Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy11/07/15 23:42:00 David Darlow
                                                            Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:The Greek tragedy12/07/15 00:38:00 Julian Pavey

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