Greek debt crisis: French central bank governor warns of 'riots and chaos' if no deal is found

[jwirr]

34. I would not - because the powers that be here in the USA would stop it. And that is my point.

It still all rests in the hands of those who have the power to change it. And as far as I can see no one is even trying to do that - once again austerity is not an answer and that is all the bankers are offering.

Am I correct that for the last 7 years of this crisis the only thing that the partners in EU have offered is austerity and that just made things worse?

Just to let you know where I stand - I think that EU should be requiring Greece to collect taxes from the rich as well as the middle class to pay for the costs of government. I think that the benefits you are talking about should be more in sinc with the rest of the countries in EU and they should have real enforcement of fraud.

But I also think that EU should adjust any pay schedule to be payable in respect to the economic situation in Greece. Similar to the way the Allies required Germany to repay the debts from WWII - payments were hooked to economic factors and there was a very long period for getting the loan paid. We learned from WWI that squeezing a country has really bad consequences. And since you say they have no plan - then EU should be working with them to find a real plan for recovery - not austerity.

EU was created in good economic times and they planned for success. They did not plan for what is happening in Greece or what is happening all over the world. That is why I do not blame countries that fall - and Greece is by no means the only one having troubles. What are they going to do about the rest of them - more austerity?