Europe needs to learn this lesson: ECB/IMF/EU are Vultures

[Kirkland Laing]

So, Greece. They're insolvent but the alternative to admitting this is a return to the drachma and horrific Depression-era conditions in Greece, widespread hunger and misery and so on, but an eventual recovery. So they have a good reason to keep playing extend and pretend with the EU.

The EU should in a previous world restructure the debt which is a fancy way of saying write a chunk of it off. In this case about half would be a good idea. But they can't do that because Portugal, Spain (who have an election later this year), Italy and possibly Ireland are all future Greece-like problems on the horizon. If the EU does the right thing for Greece it has to do it for the others and then the whole thing blows up. Which will happen at some point anyway no matter what they do with Greece.

[Gandalf]

The EU will have to break up whatever happens. It's just a matter of time. Greece has decided to delay it, but meanwhile anti-EU parties are growing all around Europe. If it isn't Greece, it will be somewhere else and a good thing too in the long run for the people of those countries.

[brocktonblockbust]

The EU will have to break up whatever happens. It's just a matter of time. Greece has decided to delay it, but meanwhile anti-EU parties are growing all around Europe. If it isn't Greece, it will be somewhere else and a good thing too in the long run for the people of those countries.

How poignantly executed there Miles. The better to break up and go through the pains of transformation, than to fake their way through troika horse manure in solidarity of a Failed Policy.

Jake Bugg sucks. Here is the proof: