[–] mscomies 0 points 1 point 1 point (+1|-0) ago (edited ago)
Greece was clamoring to join the Eurozone too. They wanted to join the Eurozone so badly that they cooked their books and falsified their economic figures for years in order to meet the criteria to enter the Euro and stay in the Euro. And after they joined the Euro, Greece spent like a rich country, earned money like a poor country, and tricked everyone into thinking that their balance sheets were solid for over a decade. That's why they're in such deep shit right now.
You're insane if you think that Greece's creditors are just going to handwave away 300 billion Euros of debt. That will set an even worse precedent than a Greek Euro exit. The central banks do not have the assets to forgive the debts of Greece, Italy, Ireland, and every other country having issues with making their monthly payments.
[–] [deleted] ago
[–] mscomies 0 points 1 point 1 point (+1|-0) ago
Things may suck for Greece right now, but if they leave the Euro, they are literally stepping off a cliff with no idea what will happen next. They may end up like Zimbabwe, whose per capita GDP still haven't recovered to 1999 levels.
[–] [deleted] ago
[–] mscomies 0 points 1 point 1 point (+1|-0) ago
That NYT article dates back to 2005. Not exactly relevant to the conversation. Also, Greece's creditors already forgiven over 100 billion Euros of Greece's debts.