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That's one of the sticking points. Eurobank looks like it will collapse without additional funds beyond a bailout deal. They need to come up with an extra 10-25 billion euros for bank recapitalization.
Germany wants forced privatization of Greek assets for a bailout. This is what they've been after all along, to pick up Greek public resources, such as ports, utilities, islands, etc. for pennies on the dollar.
Merkel wants Greece to place assets in a trust to pay off its debts
Really, if the Greeks had any backbone, they would say no to that kind of bailout and prefer to officially go broke instead. In that case they can at least decide for themselves where they would save money, which obviously is necessary in one way or another.
And in the course of that I would also leave the EU and Nato, which would force the US to do something because of Greece's geopolitical role.
After going broke, I would also forgive myself all debt to German institutions to compensate for what Germany owes Greece because of Nazi era. I would also leave Schengen and reintroduce visas for all the countries which were against Greece in this mess, especially Germany and the Baltic states.
Being a main entry point for refugees, I would also lead all those migrants straight to the Bulgarian border and to ports in the West so they can go on to Italy.
Really, if the Greeks had any backbone, they would say no to that kind of bailout and prefer to officially go broke instead. In that case they can at least decide for themselves where they would save money, which obviously is necessary in one way or another. And in the course of that I would also leave the EU and Nato, which would force the US to do something because of Greece's geopolitical role.
I suspect that it were precisely the US that already "did something" for that particular purpose.
That's why Greece got more money.
That whole system of making debt in order to pay back debt is stupid. We should be so realistic as to admit the money is gone. The current attitude only destroys what is left of the European idea. I don't see any reason why member countries within the EU should be treated any differently than states within member countries. All member countries have redistribution systems as they all have rich and poor states. Either the EU is a family and unit, or it is not, in which case it should not pretend to be one.
They won't leave because otherwise there would be no way how to suck money from other countries in the EU and they would have bankrupted already.
I hope that this new agreement is just a distraction game for markets and the new Eurozone without deeply indebted countries is going to be created.
They won't leave because otherwise there would be no way how to suck money from other countries in the EU and they would have bankrupted already.
I hope that this new agreement is just a distraction game for markets and the new Eurozone without deeply indebted countries is going to be created.
Almost all European countries (and the US as well, of course) are massively indebted, including Germany. Our whole standard of living is based on debt. Look at the debt world map, usually the lower the standard of living, the lower the debt, and vice versa.
I am also in favor of splitting up Europe, though. To me (a German) the Mediterranean countries are the real European countries, Europe without Greece is not Europe, Europe without Germany is no problem. The South has suffered way too much from the Euro, which the money fascists in Frankfurt and London have allowed to remain too strong for much too long. When they finally did something to weaken the Euro, it was too late. It was attempted econocide on the part of Berlin etc.
Funny how the IMF and the EU do not agree. The IMF said today that Greece's debt is unsustainable and has to be restructured, which is what the Greeks have been saying all along. But the wheelchair Nazi doesn't like that news...
So Greece played the idiot for months just to get harsher conditions than what they wanted in the beginning?
What a sellout Tsipras is. One has to wonder if Tsipras is just a Trojan horse whose main job is put the Greek populace in a more acceptable frame of mind to accept austerity on the EU terms. He can talk the talk but he sure can't walk the walk. Why go through all this drama , tough talk and referendum vote if in the end you're just going to accept the same terms Angela Merkel been offering all along unless you're a liar and had no intention of following through of what you have been preaching all along. This was the same guy that said he would resign if the people voted yes on the referendum because a yes vote meant Greek voters would be approving austerity plans in perpetuity. When Yanis Varoufakis resigned after the referendum vote things started to look fishy as if they (Tsipras + Varoufakis) had no intention of following the will of the voters in rejecting austerity.
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