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Originally posted by TheMindWar
reply to post by Imogene72
I am suprised the people havent strung the bankers up yet. 100 years ago the bankers wouldnt have lasted five minutes and this mess would be over.
Originally posted by Imogene72
reply to post by EspyderMan
I think you are mistaken. Greece is not in debt because of the loans each Greek took from banks, it is in debt because of the loans Greek Governments took in order to help our country develop. Greek Governments unfortunately decided to split the money in question between them and give nothing to the whole country. But, since they gave nothing to the country, no development was made, therefore there were no money made, so the loans couldn't be paid off. Then the governments decided to get even more loans, in order to feed themselves some more and to pay back a part of previous loans, and then again they took newer and newer loans. That's why Greece is in debt, not because Greek people didn't know when to stop.
As for the banks, as I stated in a comment above, it was their money to begin with. If the money was important to them, they should have checked who they were giving it to and if they could pay them back. But they didn't do it, the banks purposefully closed their eyes, because it was profitable for them at the moment. They earned millions. Too bad they did not think what the consequences might be in the long run. We are not going to accept their responsibility.
Originally posted by Flavian
reply to post by Eurisko2012
I understand what you are saying and the truth is that whatever the outcomes of the Euro, Greece is in for for a long time of hardship. People just do not want to either acknowledge or accept that fact.
A full default and return to the Drachma would still entail pain for upto several decades whilst remaining in the Euro means that the economy cannot recover. Either way, the Greek people lose big time.
That is the truth - whatever happens, the Greek people will suffer.