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looks like it's business as usual now for Greece. As much as they hate austerity the Greeks just can't resist the allure of easy money from the rest of the Eurozone. This is the THIRD bailout so my guess we will shortly be in this same situation soon looking at a FOURTH bailout!!!
After the SECOND bailout did not work the Greeks should've realized that they can't make it work within the Euro and should've been making plans to exit themselves, but thanks for the idiocy of the Greek government coupled with the people who have ridiculous expectations (want the benefits of easy EU money but don't want austerity) they will stay in this bad situation.
size of economy does not dictate everything... Greece has a strategic location in Europe as a gateway, if Russia puts a military base in Greece like they did in Cuba the rest of Europe isn't going to be very pleased as now they have better access to the western reaches of Europe.
The Greek people are never going to let a Russian base in Greece. They are nothing like Cubans in the 50's. If you paid attention you know more countries in former Russian east want themselves to join NATO more than the EU. The one overwhelm issue in Greece is remaining within EU to the people. They maybe broke but they are not stupid. Puerto Rico can go bankrupt unlike Greece and US will come to their aid. Even cities and states in US can go with method to resolve debt default. Not possible by EU rules. In time we will see some slight of hand by EU to allow the same thing only not default on debt or forgiveness by name. But only after they see restructuring needed.EU is union flawed as currency union because we see what minor debt number in not 1% of EU economy caused.
If they follow the terms of the new agreement faithfully and get some kind of debt restructuring, it will work out. The path will be difficult but Ireland and Lithuania did it and Spain and Italy are doing it. It will be harder for Greece because it requires a 180 degree turn in how they think and live.
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