Athens' Syriza government has failed to extract any concessions from its international lenders after four months of fruitless talks.
German finance minister Wolfgang Schaeuble has hinted the country should not remain in the euro at all costs, pressuring Mr Tsipras to back down over his Leftist "red lines" on labour and pensions reform. The German number two is also thought to have touted the possibility of a "parallel currency" for Greece at a recent meeting of European officials, according to reports in Bloomberg.
Greece, which has been without international aid since August 2014 is also battling to convince lenders of its planned reforms to VAT and agreeing to softer budgetary targets for the next two years...Ms Merkel's comments contradicted Athens' claims that a release of bail-out cash would be agreed within "10 days"....In the comments below, the consensus seems to be
1. The Greeks can never pay their debt
2. Any attempt to manage the Greek economy by EU/EZ is considered intrusive, with comments such as "evil EU", nazi, anti-democratic, etc
3. EU does not have rules or a treaty to expel Greece, even though almost everyone on this forum wants it
So the USA solution, when states or municipalities cannot pay their bills over the last couple of centuries ...California, Louisiana, Detroit, etc
A. Cease all bail out payments
B. Cease all subsidies, credits (Any subsidies normally paid would be used to cover the debt default)
C. Let Greece Default
D. Stop all intrusive attempts to manage Greek economy
E. Advise all European banks that EU offers no guarantees on loans to Greece
F. Greece continues to use Euros (in cash only)
G. Euro notes are printed outside Greece and so such notes would only be sent to Greece in exchange for worn-out notes of same denomination.
H. Greece remains in EU and can vote, but will be no more than a minor irritant
Declare freedom for Greece ... Then it is for Greece to decide to stay or go
No comments:
Post a Comment