The Franco/German "save Greece" Scam

reply to post by StraightBananas

I'm sorry I had to log out in a hurry.

I'll try to explain what I meant:

Originally posted by ColCurious
I don't.

I meant "I don't deny the part of your post I quoted".

Originally posted by ColCurious
I honestly don't really care about Greece's defense [...]

As far as I'm concerned, they can cut it as much as they want. I don't care.
Greece's military capacity is irrelevant for my personal well-being.

Originally posted by ColCurious
but Greece's 2011 deficit wouldn't be enough anyways.

Greece cutting her defense budget 3 or 4 years ago (allegedly earning them their 2011 deficit back) wouldn't have been enough to consolidate their budget anyways, so whatever.

Originally posted by StraightBananas
Again, if they would have cut their defense spending to normal levels, a few years ago, they would've saved the amount of money they now have as deficit.

False.
From your source:

If Athens had cut defence spending to levels similar to other EU states over the past decade, economists claim it would have saved around €150bn

150 billion €uros is nowhere near their deficit (more than 360 billion back in january).

Originally posted by StraightBananas
You really seem to have a problem with registering the information that is presented to you.

Right back at you and have a good day.

reply to post by talklikeapirat

As I replied, your first post and the source you linked are inaccurate about the procedure and legal basis of the Greek austerity program and how it was adopted.

Your second post about the German interference in Papandreou's proposal to hold a referendum is a different story, and I very much agree that this behaviour by our politicians should have been rejected by Papandreou.

Greece should have held their referendum anyways and should have finally left the €Z.
This would have been the end of financial aid of course, but also of the pressure by the Troika.
It's a shame Papandreou caved in... Greece and Germany would be better off today if he didn't.

reply to post by ColCurious

150 billion €uros is nowhere near their deficit (more than 360 billion back in january).

Omg, their national debt is around 360 billion, not their deficit. Do you know what deficit means?

Almost all countries have a big debt. Greece couldn't pay the mortgage anymore because their revenue was just too small compared to their expenses.. It's not about paying the whole debt directly.

If they had saved the 150 billion they would have had nearly half the debt they do now and they wouldn't have collapsed like this.

Or am I missing something here?

If my memory serves me right , in last 180 years , this is the 3rd time Greece has arrived to an economic ruin following an unsustainable borrowing period .

reply to post by 23432


Jeez, how old are you?

Originally posted by StraightBananas
reply to post by 23432

 

Jeez, how old are you?

Old enough .

Greece should be like Iceland. Tell the bankers to #-off. Default on the loans, and then Greeks would be forced to live within their means. Bankruptcy proceedings for Greece. Since bankers made bad loans without adequate collateral, let the banks eat the loss, and go under themselves if need be. The first rule of banking is to never loan money you can't get back.

reply to post by Matt1951

Default on the loans, and then Greeks would be forced to live within their means. Bankruptcy proceedings for Greece. Since bankers made bad loans without adequate collateral, let the banks eat the loss, and go under themselves if need be. The first rule of banking is to never loan money you can't get back.

That is how you or I would be treated ( remember the "improved" bankruptcy law changes a few years ago) but we can clearly see that the Money Changers do not want this. That is only for the Plebs and the weaker in their fold. We get Kapitalismus and they Sozialismus

reply to post by StraightBananas

Originally posted by StraightBananas
reply to post by ColCurious

 

150 billion €uros is nowhere near their deficit (more than 360 billion back in january).

Omg, their national debt is around 360 billion, not their deficit. Do you know what deficit means?

Almost all countries have a big debt. Greece couldn't pay the mortgage anymore because their revenue was just too small compared to their expenses.. It's not about paying the whole debt directly.

If they had saved the 150 billion they would have had nearly half the debt they do now and they wouldn't have collapsed like this.

Or am I missing something here?

Yes, I do know the difference between national debt and overall budget deficit, thank you.

And yes, you are missing something, although you've already been told and you even said / quoted it yourself.

Even if Greece had cut her 4-7%/GDP-worth defense budget to sero for the past decade, it wouldn't have helped the overall budget deficit enough to fully consolidate their bad budget.