greeks are broke

Greek exit real prospect as eurozone hardens towards belligerent Athens

Fears that the five-year Greek financial crisis will culminate in debt default and exit from the euro have intensified as Athens hardened its rhetoric against its creditors and insisted it would miss a payment to the International Monetary Fund unless it received debt relief.

With just 48 hours to go before a meeting of eurozone finance ministers, seen as the last realistic chance to reach a deal before Greece has to pay the IMF at the end of June, Alexis Tsipras, showed no sign of bowing to demands for cuts in pensions and increases in VAT. Instead, the Greek prime minister accused the Fund of “criminal responsibility” for the situation and said lenders were seeking to “humiliate” his country.

  • Kick Greece and Turkey out of the NATO once they’re kicked out of the Euro zone. (Though Turkey isn’t part of that mess).

    • tom_billesley

      I’d rather have Israel in NATO.

  • Drunk_by_Noon

    I hope they all starve.
    Maybe that was overstated and harsh, but I have no sympathy for them.
    They seem to be a nation of ungrateful parasites.

  • Jay Currie

    Go Greece go.

    The Greeks have a perfect right to devote 16 percent of their GDP to pensions (or fireworks for that matter). They have no right to have the rest of Europe subsidise them.

    Leaving now will cost the rest of Europe a few billion Euros – well maybe 150 billion according to Miss but, whatever. Greece staying is like having your fifty year old unemployed son living in your basement. Even if you can afford it it is a bad, bad, idea.

    So, bye, bye Greece. A stout lesson for places like Italy, Spain, Portugal and even France.

    • PalmaJSimon

      The J0bs Site on the net @mk3


    • David Murrell

      It is a bit laughable that the extremist Greek ruling party slams the EU for not giving them another extended loan to pay for Greek federal salaries and pensions. The coming Greek default will roil world stock markets though..

      • Norman_In_New_York

        It is not necessarily a bad thing if Greece causes the Eurozone to crash. The Eurozone was a mistake to begin with.

      • tom_billesley

        The first federally funded service to shut down will be immigration control.

    • The real lesson here is, you cannot borrow money for ever. At some point, your lenders will say “no more”.

      Liberals would do themselves a favor by looking at this fiasco. Spending money you do not have only works for a limited time. Then the fecal material hits the fan.

      • Blacksmith

        The same thing is happening in the US and our govt is betting on the ‘too big to fail strategy.
        We are doomed.

    • Blacksmith

      I most definitely agree wholeheartedly with your assessment and conclusion.

  • Martin B

    No it’s not the lenders. Greece has been humiliating itself in front of the whole world for a long time now.

  • Billy Bob Thornton

    Don’t worry if Greece joins BRICS they can get on a specialized payment plan and eventually bring down their debt.

    It was the same with Cyprus, which people on here ignore, and that is that Russia covered much of Cyprus’ debt. People on here don’t take into account Russia’s contingency reserves. China has massive reserves. No wonder BRICS was able to form their own version of the IMF.

    Political incompetence is not just for one ideology, but can cover all.

    It is clear that Ukraine is being supported with more loan money which it can never pay, while Greece is not being supported purposely by Germany and the EU.

  • Billy Bob Thornton

    I hope Beppe Grillo in Italy wins; the same with Podemos in Spain. It is clear that mainstream ideologies are making situations worse in southern Europe and across Europe.