Greece Fixed … I Mean, Broken … I Mean, Fixed … I Mean, Broken

To give the IMF veto power over a country’s legislation is unsettling, as Todd says. The results of the referendum have simply been ignored? There is always the possibility that Greece will not honour any agreement she signs. Maybe this is just a ploy to gain the time required to execute an exit from the euro. The result will be an even greater default, but a lean and competitive Greece. The purpose of the euro is to prevent the peripheral countries (PIIGS) from devaluing their currencies and thus compete with Germany and France. Sooner or later, these countries will wake up and throw of the yoke of the euro.

Scott Walker has straightened out Wisconsin’s money problems and cleaned up a lot of financial problems. Only one problem. He’s a conservative. Rino’s who control the Republican Party won’t support him. They want someone like Bush or Christie who they can control, just like the last Bush. Hillary WILL NOT BE THE DEMS CANDIDATE. She is not Bill and a poor campaigner, does not like campaigning, and thinks the W H is owed her. I think the Republicans might win the W H; HOWEVER, that is a problem. I think we all know what is going to happen economically in the country (and the world) in the next 4-5 years. A Republican president will be blamed big time and throw this country back to the big government spending democrats. I’m 78 years old. Maybe I won’t be around to see all the carnage. Sure glad my father is not around to see this. He would have a heart attack.

Scott Walker is the best candidate for President because he has turned around Wisc. from a huge deficit to a surplus, speaks for a conservative agenda and the regular Americans, not the politicians in Washngton. He will be strong on defense and will secure the border first. I like that he speaks common sense that anybody can understand.

I’m for Grexit. The EU and IMF need to take their losses for the foolish loans they made, and Tsipras needs a grow a couple and lead his country out of debt slavery. When Iceland went through some much needed restructuring, three years later it was doing better than most European countries. The free markets work if anyone would just simply let them!

The EU hardline against Greece is pure BS. The game here is not to assure that Greece can pay back its debts but instead to remake the Greek economy in its image while sending a message to the uppity left-wing parties in Southern Europe of what awaits them if they get out of line. Notice how the emphasis is always on “reforms”. Spain underwent these “reforms” and while the deficit hasn’t improved very much at all, the EU dogs have stopped barking. Step out of line however…Here in Spain, I’m waiting for a left-wing government to take over which will cut military spending and take taxation levels back to where they were in the mid-90s. Then watch the EU dogs come barking with “you’ve got to pay back your debts and reduce your deficit, they way WE tell you to do it”. I’d get out of the Euro while the getting’s good, if only for a little respect for natioal sovereignty.

The deal won’t help even if accepted, because Greece will not live up to its end of the deal any more than they have all the other times in the past. So they are insane on both sides of this deal.

That said they deserve to fail. The Greeks should be smarter than this. They refuse to cut anything and expect it to somehow get better. It won’t until it collapses and resets. So they will keep giving them money until everyone has so much bad debt it can never be resolved.

Does that refuse to cut big government and all the freebies, yet keep expecting it to somehow get better, sound familiar? It should, because we are heading down the same path with the same attitude. We should be smarter than that too, but apparently we aren’t either.

Someone needs to tell all the politicians and voters, the definition of insanity is to keep doing the same thing and keep expecting a different result.

Hi, let me post a comment from somebody living in Europe, actually in the next most indebted country in Europe (Italy). Greece has its faults: It treated money collected in the form of taxes and granted in the form of loans as free money for a corrupt political system and for the friends of the politicians. Yet the main fault stands on the “so called” European Union ( it is a dis-union as of last week end). The EU never checked if Greece could meet the supposedly strict Euro Criteria ( neither did it check with a lot of other countries). It eventually “rescued” Greece twice by sinking the county in more debt and creating conditions for a long depression; the EU eventually never checked sufficiently if the conditions imposed when granting more loans were fulfilled, nor had any doubt about the recessionary conditions it forced on to Greece. As of the last few months it became more and more evident that Germany ( and a small group of obedient countries ) have taken over the ruling of the European Union for a couple of reason:
A) Germany needs to keep the Eurozone intact as its industry needs a captive market: Should a country decide to exit the monetary Union, currency would adjust and markets would no more be captive. For your reference Germany does not just sell “hot cars” to other European countries: They sell also such high tech products as milk, butter and cheese ( sales volumes decided in forms of quota by the Brussel’s Burocracy ).
B) Germany is stuck as creditor country: the infra-countries deals are partially handled, via the central banks of each single country, through a sort of clearing system in which the exporting country becomes a creditor and the importing country becomes a debtor.
It is a sort of “Vendor Financing” on a great scale.
So the only option for Germany is to try “whatever it takes” to keep the system together.
Unfortunately in the last few days, looking at the conditions imposed to Greece, we have seen the dawn of the “Fourth Reich”. As the third one is recent and still well stuck in the memory of most Southern European Countries, anyone is starting having doubts at what lies in the future for the European citizens. Cutting a long story short: The best thing we learned from the “Europe vs. Greece” dealings is the risk that the entire Europe becomes a colony of B&B ( Bruxelles and Berlin ). Be assured that not many Europeans are willing to be enthusiast at this perspective.

When Scott Walker announced yesterday that he was running for president, my only thought was: “Oh my, another crooked politician running for President!” Believe me, I know. I live in Wisconsin and have followed him closely. Already he misrepresents himself…home town…Waukesha? I don’t think so. He went to Delavan-Darien High School (was not a top student..by anyone’s measure). That Delavan is a working class town is apparently just not good enough for this creep. As govenor, he is on his way to destroying our University system and our public schools. His announcement followed immediately upon signing the budget which is a travesty for education. BTW, who do you suppose he is trying to please??

Banks have done worse to the people of the USA. They induced people take loan for which they were not qualified, then put them on the streets. Look at your own backyard and stop moralizing