is it realistic to expect them to comply with the loan conditions? If they want the loan, I suppose it is.
What would you expect our Government to do? We are short of cash anyway, we are fighting on two fronts, and we have been bailing Ireland out. Could you pay say an extra 20% in tax to bail Greece out too? That's the only way our Govt could help.
i think a situation that is emerging is that we are indeed in it too by virtue of the financial arrangements that are part of the loan deal...
as for can they possibly not default... one thing that has been mentioned is that the greek govt apparently has public assets that it can have privatised and thus raise capital.....
the comparison with pre ww2 is eyewatering just in terms of the scale of the debt and therefore the financial challenges.... and all this by virtue of a govt that was elected but prooved inept .... like the one the irish suffered... it reminds of third world countries
the world has changed in a number of dimensions and countries that don't have a rich source of natural commodities that everyone seems to want should all be looking afresh at themselves... unfortuntely once a bunch of politicians have been elected the country is at risk.... a bit like third world countries ... where some leaders like a bit of lavish lifestyle and security of futures for friends and family the western trappings and so called aspirations at the expense ultimately of the poor ....
and as for what can our govt do? it remains to be seen what happens in our own economy... the greeks have certainly benefited from the income from the holidays many brits can no longer afford and no doubt folks from other european countries too... some may think however this brings pennies into the exchequer so not a bad thing ... however an awful lot more pennies seem to leave by the back gate of free market foreign ownership of services etc...
our own govt seems all over the place what with uturns and who knows what.... but the kinds of enterprises that they seem to be prepeared to fork out does not fill me with much sense of peace
GOD BLESS!
Peace and Love,
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