Putin's opportunity

[mistermack]

Why would Putin need 200 billion?
He would hardly want Greece to pay it's debts. He would prefer it if they default.

I think the Greeks are not just in danger of having to leave the Euro. I think they should have to leave the EC as well, if they default. How can you take money left and right from other members, and just vote not to pay it back?
If I was a German taxpayer, I would insist that they were out for good. You have to have trust.

Putin is shit stirring, telling them that if they default, they can build a special relationship with Russia, and it won't be the end of the world for them.
And yes, he could easily use Greece as a naval base. Just give them maintenance contracts for some of his Black Sea Fleet. Or maybe, he could offer to buy Crete.

[pErvinalia]

I don't think there is actually a legal mechanism in place to kick them out. Only Greece itself can kick itself out. In any case, the rest don't want it to leave. That means no repayments and further destabilization of the union.

[pErvinalia]

Actually, maybe Russia should offer to get them back Cyprus. The Greeks might go for that....

[JimC]

Just remember one thing, Vladimir...

Beware of Greeks bearing gifts...

[mistermack]

Just remember one thing, Vladimir...

Beware of Greeks bearing gifts...

Yehhh

They are probably borrowed.

[mistermack]

The problem with Greece, and some of the other shaky economies, is that they have a long history of taxing by devaluation.
Instead of collecting the tax, the governments printed the money they needed, and everybody paid by loss of value of their savings etc.

Greece hasn't adjusted, by learning how to collect tax efficiently. And it can't devalue by printing money while it's in the Euro. So it had to borrow.
And that's why it should be kicked out. It can't and won't and doesn't even want to adapt.
Greece should never have been let in to the Euro.

[pErvinalia]

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

[JimC]

The problem with Greece, and some of the other shaky economies, is that they have a long history of taxing by devaluation.
Instead of collecting the tax, the governments printed the money they needed, and everybody paid by loss of value of their savings etc.

Greece hasn't adjusted, by learning how to collect tax efficiently. And it can't devalue by printing money while it's in the Euro. So it had to borrow.
And that's why it should be kicked out. It can't and won't and doesn't even want to adapt.
Greece should never have been let in to the Euro.

Added to that, it did not have the robust legal and bureaucratic system in place to keep corruption in check, which allowed people who could buy influence to prosper in place of those that could not.

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

I don't see why you are calling mm a bigot in this case - he was basically correct in his assessment. Accepting that Syriza want to reform their system, they have a long way to go...

[mistermack]

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

What they say they want, and what they are prepared to actually do, are two entirely different things. That's why the IMF and finance ministers are not buying their empty promises.
But don't let your gullibility get in the way of your thoughtless rhetoric.

[pErvinalia]

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

I don't see why you are calling mm a bigot in this case - he was basically correct in his assessment. Accepting that Syriza want to reform their system, they have a long way to go...

He said they haven't adjusted, and that's bullshit. They've adjusted heaps. He's got form on the board with bigotry. Absolutely not surprised in the least at his comment.

[Svartalf]

Actually, maybe Russia should offer to get them back Cyprus. The Greeks might go for that....

Russia isn't about to go to war against Turkey, that would kick off the whole NATO chaine and WWIII

[Svartalf]

Just remember one thing, Vladimir...

Beware of Greeks bearing gifts...

Timeo danaos et dona ferentes,
that's actually from a Roman author

[Svartalf]

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

Actually, Syriza is trying nothing, they could have proposed to amned the Greek constitution to tax ship owners and the Church and have done no such thing

[mistermack]

He said they haven't adjusted, and that's bullshit. They've adjusted heaps.

Why oh why oh why, do they waste money on economic professionals to run the IMF?

When they could get someone from the backhills of Oz for half the price.

Crazy.

[pErvinalia]

Of course they want to tax properly. That's exactly what Syriza is trying to do. As well as cut corruption. But don't let your bigotry stand in the way of the facts.

Actually, Syriza is trying nothing, they could have proposed to amned the Greek constitution to tax ship owners and the Church and have done no such thing

They have increased taxes.