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jeff47

(26,549 posts)

66. Only if they keep paying interest.

Reply to hack89 (Reply #57)

Fri Feb 6, 2015, 10:35 AM

Feb 2015

If they defaulted, why would they keep paying interest on the defaulted debt?

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No more orders or austerity from Europe, Greek PM says [View all] Bosonic Feb 2015 OP

So... they'd better get started printing Drachmas then? bigworld Feb 2015 #1

Apparently that have the printing presses and could actually start printing Euros. n/t PoliticAverse Feb 2015 #3

Yeah, it's EU's fault, not their own corruption or the fact that the rich don't pay taxes uhnope Feb 2015 #25

Their problems could easily be solved with... Taitertots Feb 2015 #53

"easily"? Really? Well then Syriza will have it done in no time uhnope Feb 2015 #92

You don't know what "expansionary monetary and fiscal policy" means do you? Taitertots Feb 2015 #95

I'm ignoring it as much as you are ignoring tax avoidance and corruption in Greece uhnope Feb 2015 #96

I'll address your post as three issues. Taitertots Feb 2015 #97

Re. corruption and taxes insignificant... Ghost Dog Feb 2015 #102

Are you going to provide an estimate or just complain that you don't like other people's estimate? Taitertots Feb 2015 #103

No indeed, economic renewal will require much more than that Ghost Dog Feb 2015 #104

Why Greek socialists do not have the complete support of all DU'ers is...informative. Fred Sanders Feb 2015 #2

Seems that way to me too, Fred Sanders. elleng Feb 2015 #9

Right on. Ed Suspicious Feb 2015 #12

I can only speak for myself, but I'm watching exactly how they solve their problem. FLPanhandle Feb 2015 #14

Their Finance Minister has an economics PhD. And has laid out the plan in written detail, not just Fred Sanders Feb 2015 #16

And he's sexy as hell too. azmom Feb 2015 #27

Really? Professor Yannis Varoufakis Fred Sanders Feb 2015 #29

I'd ease his debt burden anytime. azmom Feb 2015 #31

hot glinda Feb 2015 #47

Nothing against the guy, but all I see is the love child of this guy: freshwest Feb 2015 #49

Yuck...I can't "unsee" these. BTW, he is a hunk and he's also smart as heck...listened to him talk libdem4life Feb 2015 #67

I see you joined up just before the 2012 elections. Yeah, we railed against them. freshwest Feb 2015 #83

Thanks for reminding me...I lurked for a long time. But I have watched him twice and he's libdem4life Feb 2015 #85

Here's another one...Post #45 libdem4life Feb 2015 #89

seriously? I see this guy, but with a brain as well as guts magical thyme Feb 2015 #87

Sorry, but the first thing I thought was this NickB79 Feb 2015 #98

That, sir, is a proud Greek nose inherited from the God's themselves... Fred Sanders Feb 2015 #99

It's all about Yanis right now. azmom Feb 2015 #105

Well.... jeff47 Feb 2015 #17

I thought they only projected to have their budget balanced this year FLPanhandle Feb 2015 #55

Primary surplus means they're in the black except for interest jeff47 Feb 2015 #56

Greece is far from blameless FLPanhandle Feb 2015 #93

You've got the timing wrong. jeff47 Feb 2015 #94

He has the timeline wrong. Fred Sanders Feb 2015 #100

2.3% of their GDP is direct payments from the EU hack89 Feb 2015 #57

Only if they keep paying interest. jeff47 Feb 2015 #66

They can certainly do that - it would be a stupid thing to do hack89 Feb 2015 #68

Yeah, look at how it destroyed Iceland. jeff47 Feb 2015 #69

You do understand that Iceland did not default on any sovereign debt? hack89 Feb 2015 #71

Do you understand that the problems you claim will happen jeff47 Feb 2015 #73

But the debt still belongs to the Greek government hack89 Feb 2015 #74

The problems you cite about leaving the EU jeff47 Feb 2015 #75

Do you understand the Greeks are not happy about running those surpluses? hack89 Feb 2015 #76

Actually, no. The surpluses do not disappear jeff47 Feb 2015 #80

Is the Greek government committed to continuing austerity measures hack89 Feb 2015 #82

The Greek government conspired with Goldman Sachs to hide their debt from the EU hack89 Feb 2015 #78

Iceland borrowed $4.5 billion from the IMF after their banks collapsed hack89 Feb 2015 #81

Nope. Iceland did not launch an austerity campaign. jeff47 Feb 2015 #84

Time will tell hack89 Feb 2015 #86

And that's what really needed to happen from the start. jeff47 Feb 2015 #88

But the Greeks still cannot afford to go back to their previous levels of spending hack89 Feb 2015 #90

And they aren't trying to. jeff47 Feb 2015 #91

They are now running a primary budget surplus muriel_volestrangler Feb 2015 #19

Sounds good and bad. If the percentage of GDP is that low, they'll work it out. freshwest Feb 2015 #79

exactly +1 uhnope Feb 2015 #40

Agree....100% Manifest Destiny Feb 2015 #26

not necessarily. The fact is, Greece is screwed up due to its own corruption & tax failures uhnope Feb 2015 #28

Ahem MFrohike Feb 2015 #39

+1000 nt GliderGuider Feb 2015 #77

Damn right. katsy Feb 2015 #32

DU arikara Feb 2015 #42

100% correct. Manifest Destiny Feb 2015 #51

I wish they would arikara Feb 2015 #101

"If you are not getting behind Greece you are not getting behind liberalism"? Bullshit. Nihil Feb 2015 #61

Glad you could clear that up. Fred Sanders Feb 2015 #62

Tsipras knows...... DeSwiss Feb 2015 #4

I think I'm in love...... fasttense Feb 2015 #5

+1 blkmusclmachine Feb 2015 #35

It's disaster capitalism. potone Feb 2015 #38

the start of civilization glinda Feb 2015 #48

+100000 Good to see corruption and thievery being called what it is. woo me with science Feb 2015 #60

Yanis Varaoufakis is a brave man azmom Feb 2015 #65

+1000000 woo me with science Feb 2015 #59

Make them pay back WWII reparations, too. K&R closeupready Feb 2015 #6

He really makes sense. And is the plainest talker in Europe I've heard in a long time. freshwest Feb 2015 #7

I hope.... snappyturtle Feb 2015 #13

what would you want in place of the fed reserve sabbat hunter Feb 2015 #64

Maybe the US could start buying the place with beads. candelista Feb 2015 #8

You forgot the sarcasm emoticon. Fred Sanders Feb 2015 #10

This is going to get very interesting and we should pay attention. snappyturtle Feb 2015 #11

Great links: Manifest Destiny Feb 2015 #30

I used Zero Hedge recently and was told it's just a bunch of hackers! snappyturtle Feb 2015 #33

This has been an interesting blog too arikara Feb 2015 #44

As I understand it, a slow run on the banks has been going on for some time. rogerashton Feb 2015 #52

K & R !!! WillyT Feb 2015 #15

I wonder if the vulture capitalist bastards are circling Greece now like they did Argentina earlier. cascadiance Feb 2015 #18

They absolutely are circling Greece. potone Feb 2015 #50

Different situation. Most of Greek debt is owned by other governments hack89 Feb 2015 #72

Greece democracy vs other EU democracies TooPragmatic Feb 2015 #20

This is good, but this isn't exactly what Iceland did, and as far as I can tell AtheistCrusader Feb 2015 #21

Iceland had the difference of using its own currency bigworld Feb 2015 #22

Unless they leave the Euro, then I don't think Iceland is a good comparison fbc Feb 2015 #23

Greece isn't Island TooPragmatic Feb 2015 #24

Did you mean to say 'Iceland' instead of 'Island' ? snappyturtle Feb 2015 #34

Thanks for correcting me TooPragmatic Feb 2015 #36

Oh, I understand that autocorrect stuff. Hate it. snappyturtle Feb 2015 #37

"Island" is actually how Icelanders spell the name of their country Art_from_Ark Feb 2015 #46

Shrug MFrohike Feb 2015 #41

Greece has it's own voice... and it can use that voice to beg for money. n/t hughee99 Feb 2015 #43

I don't think ''begging'' is what they have in mind..... DeSwiss Feb 2015 #45

+1. nt. polly7 Feb 2015 #54

+1000000 woo me with science Feb 2015 #58

He and Warren have a lot in common. A lot. Including charisma and speaking talent. Fred Sanders Feb 2015 #106

Guess this means they will now be begging the Russians for money? Blue_Tires Feb 2015 #63

Greece is trying out the waters for the rest of Southern Europe...the "poor countries". To see libdem4life Feb 2015 #70