looks like Tsipras has folded

[MaxQue]

key news today is Eurogroup may not accept the deal.  rumor is Merkel wants to reject it and the French want to accept it.  the Germans smell Tsipras' weakness and are going for the full out kill.

Schauble is even talking some nonsense about a "temporary 5 year Grexit"
http://www.telegraph.co.uk/finance/economics/11733260/Greece-news-live-Germans-tout-plans-for-five-year-temporary-Grexit-after-Europeans-warn-reforms-are-too-little-too-late.html

Instead of a five year exit they should get a permanent exit from the euro currency.

Also there needs to be a way to force their bond yields to never go below 15% for the next 10 years so they can't think they can just borrow themselves to growth.

So you want Greeks to starve on the street.  Good to know.

lol, forcing greeks to live within their means = wanting them to starve.

Why are you lying and not wearing a blue avatar?

[MaxQue]

Wanting people not to starve isn't socialist, it's humane.

But, yeah, I suppose bankers profits are more important than people dying of starvation.

[MaxQue]

Also, the idea that doing as the creditors wish will help Greece "live within its means" is utter nonsense:



Doing as they say hasn't helped them "live within their means," it's just systematically destroyed their means with which to live. 

If your "means with which to live" involves borrowing tons and tons of debt and expecting other to forgive you when they question whats that funny thing going on in your balance sheet, then your a hopeless country.

Greece needs to get kicked out and forced to live within their means which involves the EU not giving them any money until they learn to do so.

Again, that's a failure to understand basic economics. Each series of cuts weaken the econony. So, every attempt to lower expenses will lower revenues. That's totally impossible for them to live within their means without outside help in the current economical system. To make money, you need money.

Unless you're suggesting they should drop market economy?

[MaxQue]

nor does it really redeem eating-the-seed-corn measures like selling off $50 billion in assets

THAT, is, actually, simply ridiculous. Government has no business owning that stuff in the first place.

And, mind it, I find it extraordinarily lenient that the Greeks have not been forced to sell the Parthenon, the contents of the National Arqueological Museum, or, say, a few islands, instead.

So, US government should sell Mt. Rushmore and the original Constitution paper to balance the budget?