Latest Greek Bailout

[Tommy4ever]

The latest Greek 'bailout' from the EU, this time for 109 bn euros:

http://www.bbc.co.uk/news/business-14239794

[bcbm]

greek bond will default: fitch (http://www.thestreet.com/story/11195582/1/greek-bond-will-default-fitch.html?cm_ven=GOOGLEN)

[RichardAWilson]

I like this plan for demanding shared sacrifice from the banks and institutions. However, more should be done and the European Economic System needs to be restructured and reorganized to revive economic growth and create jobs. This solution is a short-term solution that does nothing to solve the longer-term challenges that are facing the PIIGS.

[piet11111]

All of the bailout money will be funneled right back into the banks coffers as Greece will pay of its debt.

The entire idea of a Greek bailout is bullshit as its just another bank bailout in the end.

[Revolutionary_Change]

Just like every other bailout/loan from international forces this is far more about protecting the interest of international capital and expanding the realm of predatory Freidmanist market policies than helping the Greek people.
in addition by crippling the public sphere (which is a large portion of the greek economy) the austerity measures are virtually guaranteeing that the Greek state will remain deep in debt. The Loaning nations will make sure that its economy will be kept "safely" outside the control of its people: another victory for the free market.

[Binh]

Greece is going to default. The bailouts are just kicking that can down the road at the expense of the working class. The best thing would be if the workers forced the government to default and/or leave the Euro so they can print their own currency and inflate their way out of debt which is what countries normally do in their situation.

[RichardAWilson]

The European Union isn't going to allow that to happen. They (European-Capitalists) will preserve the Common Currency and use whatever measures they have to use to maintain confidence.

[S.Artesian]

The European Union isn't going to allow that to happen. They (European-Capitalists) will preserve the Common Currency and use whatever measures they have to use to maintain confidence.

Never say never. The EU has definitely, now, agreed to a selective default by Greece, and the "exchange of bonds" by private holders with a variety of new, collateralized by the EU, bonds which will reduce losses from about 145 billion euros to 17 billion euros and cost EU taxpayers more than simply either paying the debt service due on the Greek sovereign debt, not to mention simply letting Greece default completely.