Greek partner exits the coalition

[Suff]

as the EU auditor requires more cuts to "close the gap" of EU countries who refuse to roll over greek debt as agreed in the bailout package.

http://www.reuters.com/article/2013/06/ ... IJ20130621

Personally, were I Greek, I would be saying "you live up to your end of the bargain and we'll live up to ours".

Did anyone actually expect a different conclusion? I'll send them a "reality check" if they didn't. More elections for Greece in the near future I guess..... Hopefully not until the "close the gap" austerity measures have been imposed under some emergency law or other....

[Workingman]

Is it time for Geece to quit, or be booted out of the €?

It was cleat that the Greek economy did not meet the criteria for joining the €, yet it sneaked in by the back door.

Once in it was not policed effectively to make sure it was acting according to the rules - the old practices carried on.

When the economy failed it should have been booted out, but instead the €zone drip fed it pocket money, in €zone GDP terms, to try to make it work. The drip feed only cause more problems.

Now the lenders are worried that they will never get their money back. Tough. Whatever happens the money is lost. If Greece leaves the € and returns to the Drachma it is likely to simply default or devalue till the debt is worthless.

Another option, one where Greece is given enough cash, a huge amount, to allow it to operate as a functioning state and economy and drag itself back, is not going to happen. It's too late for that.

Greece is the clearest lesson yet of how not to do things.

[Suff]

Not just how “not to make a mess”, but also how “not to try and fix a mess”.

This is the biggest issue I have with the EU. They had a clear cut way to fix this mess. But they chose to lie. The same way the Greeks got into the mess in the first place. Lie, lie, lie, lie. The Greeks lied to get in. They lied to keep going. Now the rest of the Eurozone is lying to everyone to try and prop up Greece and make it limp along until they can sell off Greece’s debt at a price which is bearable. They chose to lie so that Italy and Spain would also avoid a painful exit.

Lie, lie, lie, lie, lie. The Greek government is lying to their people. All the vying parties are lying to the people. The ECB is lying to everyone and Angela Merkel is lying to the Germans.

If Italy and Greece were to exit the Eurozone, the Euro would lose 40% of it’s power base in the world. Something massively worth the risk of the Big Lie, they think!

They all live a life of lies. Where then is the truth? Does it even matter? What does the outside world think of us? Apart from the fact that we are criminally insane!

The EU Pundits think if they keep on growing the EU as fast as possible, the Lie won’t matter because they will be too big to fail. Then one day someone will come along at the top and start telling the tinyist little fraction of the truth. Just ask Mikhail Gorbachev how he found that one to work out.

The point is do we rush in and worship at the fountain of lies?

Or do we walk away, head held high, shouting the truth from every rooftop?