looks like Tsipras has folded

[Antonio the Sixth]

Today's events give great credence to the theory that the last few weeks have been nothing more than shadowpuppetry trying to put the blame for grexit on one party or another.

On Germany's part, certainly. It's crystal-clear they don't give two f**ks about finding a mutually acceptable agreement.

[Antonio the Sixth]

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.

You are either a complete moron or an utterly sick individual.

[Antonio the Sixth]

The only way Greece pays off most of its debt is that we forgive a share of it. That's what I don't get. Either you get some of your money back, or you get absolutely nothing because Greece defaults. So if Germany really wanted its money back, they should do the sensible thing and negotiate a restructuring.

But that's not what they want. They want to make an example of Greece, in order to scare bigger countries like Spain and Italy into complying to their absurd, failed economic and monetary policies. They are literally trying to convince all Europeans that, as Ol' Maggie said, there is no alternative.

[Antonio the Sixth]

The only way Greece pays off most of its debt is that we forgive a share of it. That's what I don't get. Either you get some of your money back, or you get absolutely nothing because Greece defaults. So if Germany really wanted its money back, they should do the sensible thing and negotiate a restructuring.

But that's not what they want. They want to make an example of Greece, in order to scare bigger countries like Spain and Italy into complying to their absurd, failed economic and monetary policies. They are literally trying to convince all Europeans that, as Ol' Maggie said, there is no alternative.

Greece got a very large write off in 2013. Greece pay  2,6 %of their GDP in interests, significant lower Spain (3+%), Ireland (4%+), Italy (4,6+) or Portugal (around 5%). Even if we cut the Greek debt in half, we will be in these negotiation again next year, when they ask for a new write off, and they haven't kept any of their promises again.

The money are lost no matter what, so why send more money are bad ones?

Greece has been unable to pay off its debt because the recessive austerity policies Germany&co shoved down its throat have killed any shed of economic growth. Without growth, the Greek government will always be forced to spend more than what it raises, because the former will keep growing and the latter will keep shrinking. It's well-known and universally accepted among economists who are not complete tools that trying to balance a budget during a recession is a suicidal policy. Ironically, Greece's debt would probably be smaller today if it had been allowed to keep running deficits until growth comes back. The logical course of action would have been to wait for the recession to end, and then strive to balance the budget.

[Antonio the Sixth]

Actually, Greece currently has a primary surplus.

[Antonio the Sixth]

Unless I'm misreading, this more recent source says the opposite.

[Antonio the Sixth]

http://satwcomic.com/a-zorba-slowing-down

I love SATW, but the author is clearly Danish, and it shows in strips like this.

[Antonio the Sixth]

Why don't people work literally 24 hours a day 7 days a week anyway? Isn't having a life sort of a luxury for rich people anyway? Poor people only exist to work.

[Antonio the Sixth]

Perhaps the EU bigwigs are under the impression that the humiliation of Tsipras et al. will lead the Greeks to swing back to the ND-centrist-PASOK block, especially with shiny young leaders for all three wings.

It wouldn't surprise me that they thought so. These people are criminally insane.