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HooptieWagon

(17,064 posts)

5. Both.

Reply to Ken Burch (Original post)

Wed Jul 8, 2015, 12:42 AM

Jul 2015

Previous Greek govt cut taxes, and paid for the tax cuts by borrowing money. When those bonds came due, the govt used the bailout money to pay off those bonds. Then they were forced into austerity to pay back the bailout, but the austerity crashed the economy. Greece was also hiding how much dept they had from the EU. Plenty of blame to be had on both sides, but they aren't going to be able to pay back the bailout unless their economy improves. More austerity is only going to drive their economy deeper in the hole.

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Which side do you take on the Greece vs. Merkel issue? [View all] Ken Burch Jul 2015 OP

Greece LittleBlue Jul 2015 #1

Greece... Have You Seen THIS: WillyT Jul 2015 #2

Greece and Germany are both sovereign nations. geek tragedy Jul 2015 #3

"antics"? It's antic to oppose further pension cuts? Ken Burch Jul 2015 #4

So they should renounce all the debt, leave the Euro and print their own currency, yes? n/t PoliticAverse Jul 2015 #11

It may come to that. Ken Burch Jul 2015 #12

Walking out of negotiations is an antic. geek tragedy Jul 2015 #17

Like blaming a victim of a rapist. Katashi_itto Jul 2015 #18

The people of Greece elected those governments. Indydem Jul 2015 #19

Both. HooptieWagon Jul 2015 #5

Thanks. Excellent analysis. n/t. Ken Burch Jul 2015 #13

it's easy to take sides when your money is not at risk hill2016 Jul 2015 #6

Decent people don't put money before humanity. Ken Burch Jul 2015 #8

So you as a decent person have given all of your money to the Greek people, right? DesMoinesDem Jul 2015 #22

by the same token Tsipras has no right to demand money from German workers nt geek tragedy Jul 2015 #23

I haven't bought Greek bonds, but I have donated money to help feed the Greeks. nt Javaman Jul 2015 #20

I think viewing this crisis as some sort of modern morality play is simplistic and foolish cemaphonic Jul 2015 #7

It's not "throwing money" at Greece to let Greece raise taxes rather than cut pensions Ken Burch Jul 2015 #9

Hey, their pension FRAUD is a major cause of of the collapse. Billions of bucks annually to people underahedgerow Jul 2015 #15

..... trusty elf Jul 2015 #10

That graphic works even better with this music being played at the same time. Ken Burch Jul 2015 #14

The people who deposited the money that was lent to Greece. Nuclear Unicorn Jul 2015 #16

Saying it's a country 'v. Merkel' is a leading question (nt) muriel_volestrangler Jul 2015 #21