They all talk about Greece. Again and again. They all talk about the unsolvable Greek debt crisis and say the same things again and again. Those in favor of Greece staying in the euro thus suffocating circumstances and conditions. and those who favor a Greek euro exit thus following dark motives lost in labyrinths of vetted interests.
whether the chief of EUrogroup Dijsselbloem, whether the German finance minister or the International Monetary Fund, they are all willing to burden Greece with new loans. But nobody is in position to force his/her brain cells work and produce some new ideas how to have the debt-ridden people of this debt-ridden country come out of the deadlock .
Dijsselbloem: Third bailout for Greece ‘realistic’
Greece’s financial troubles will not end in 2014 and it is therefore realistic to expect the debt-laden country will need additional money from the eurozone before it can return to markets, the head of eurozone finance ministers said.
International lenders estimate that Greece will need around 10-11 billion euros ($13.1-14.4 billion) from the second half of 2014 to keep it going next year and in 2015.
“As far as the potential need for a third program for Greece is concerned, it’s clear that despite recent progress, Greece’s troubles will not have been completely resolved by 2014,” Jeroen Dijsselbloem told the European Parliament.
“It is realistic to assume that additional support will be needed beyond the program. In this context, the Eurogroup has indicated clearly that it is committed to providing adequate support to Greece during the current program and beyond until it has regained market access,” he said. (full article ekathimerini)
Forcing a debt-ridden borrower to get more loans is the usual practice of greedy bankers when their target is the borrower’s assets.
Dijsselbloem & Co are no better. They produce not a single idea on how to really solve the Greek debt crisis and they don’t really care. As long as the cow has still milk to offer…
It’s just pity that Greek governments have no idea either.
No idea?
That’s the idea. You can disagree with it. But it’s an idea.
that’s an empty politician’s quote that says nothing to the real problem. Growth and development is needed, not austerity and 1,001 tax laws and ‘tax reforms’ = stable & fair taxation.
but loading more and more loans it’s not the solution to the problem. I ‘d bet you’d agree with that.
It’s just a way to kick the can indeed. But pouring money into Greece right now, with all the corrupt institutions still standing, will not solve anything in the long run either. Because any growth or development will be smothered in red tape, killed off by corruption and the same fat cats will get fatter.