Another Default?: Troika Calls for New Debt Relief for Greece

[sysop]

Greece's international creditors are calling for a new debt haircut for the country so as to bring down its massive debt load. This time, however, taxpayer money from Germany and other donor countries would be involved. Resistance, not surprisingly, is substantial.

http://www.spiegel.de/international/...-a-863999.html

[pmoseley]

It is now quite clear that the troika will never allow Greece to become bankrupt and/or leave the Euro. The implications for the rest of the Eurozone economies would be far too dire, as would the likely outcome of civil war in Greece spilling over to other EU states. All the talk and negotiations are nothing more than propaganda in an attempt to buy time. The downward spiral to a bottomless pit has already begun for cash handouts; the more cash is pumped into the Greek economy, the less room there will be for the other eurozone states to allow for a default. Germany and France beware: you wanted the Euro for political reasons - you are now about to start paying for it dearly and for a long time to come.