02-16-2012, 09:10 PM
Some economist are saying the current plan is likely to fail anyway, and the current measures are simply going to make Greece suffer more for the benefit of the major EU states. By cutting its budget Greece is going to create even more unemployment, which just shifts the cost from one section of government to another, since we would hardly expect any European state to start letting its people starve to death, welfare payments will have to be made. It will just take more money out of the Greek economy and put the country more in the hole, it will not make it easier to pay off the debt.
Part of the debt has to be forgiven or there simply isn't anyway for Greece to recover without breaking off from the EU and reinstating its own devalued currency. Greece's own interest are in breaking away from the EU and turning temporarily to an isolationist policy where their people will at least be able to feed themselves. If they keep the euro food and living expenses will be far too high domestically and wealth will just continue to bleed from the country.
Part of the debt has to be forgiven or there simply isn't anyway for Greece to recover without breaking off from the EU and reinstating its own devalued currency. Greece's own interest are in breaking away from the EU and turning temporarily to an isolationist policy where their people will at least be able to feed themselves. If they keep the euro food and living expenses will be far too high domestically and wealth will just continue to bleed from the country.