General Discussion
In reply to the discussion: A lot of people here seem to have no clue about what's happening in Greece..... [View all]geek tragedy
(68,868 posts)This is a bad, bad, bad, bad, bad marriage. One that should never have happened.
Greece needs to be able to manage its own currency to avoid a deflationary trap and depression from continued austerity and crippling debt loads. That means it has to have a plausible avenue to stiff its creditors the way Argentina did. then the debt negotiations can begin. The German/other demands are a permanent trap that will cripple their economy. They're in an austerity trap, and they can't get out.
And, the EU really needs to cut the shitshow in Greece loose. Another three years, and they'll be back in another round of negotiations over debt, austerity, reforms, etc. They still won't be collecting taxes properly, and the governments will still be blaming all of their problems on German bankers rather than irresponsible fiscal behavior.