ekathimerini.com | IMF chief excludes payment delay for Greece

The media in Greece is beginning to play back that Greece’s creditors are ready to play hard-ball.

via ekathimerini.com | IMF chief excludes payment delay for Greece.

Ultimately, the current government in Greece cannot deliver on its manifesto. We are beginning to hear rumblings from the government of going back to the people for a new mandate. The current government looks doomed to failure.

Creditors will be watching very carefully, especially as there’s not enough money to meet IMF loan repayments due shortly plus meet the public sector wage bill.

Reneging on reforms is only going to hurt Greece. Greece can, of course, leave the Euro and the EU but that’s not really what the Greeks want?

Thoughts?

One response

  1. As Dr Alf knows there never was enough money to pay the public sector wage bill past July let alone the other debts the Greek nation has racked up.
    A country run by oligarchs represented by 5 families who have already plundered the Greek Exchequer and removed more money and repositioned it abroad has nowhere to go and is in no position to dictate to others whilst holding out the begging bowl.
    Sooner rather than later they have to be thrown out of the Euro and made to stand on their own feet.
    Only when the reality of their position sinks in will the Greek people start streetfighting and earning their way out of trouble.
    It is not up to the rest of Europe to bail them out of trouble when their past record is one of profligacy and flagrant refusal to pay their debts or recognise their own role in their predicament.
    Scapegoats abound,Greece supposedly is owed £123 billion gbp because of the Nazis 80 years ago and because of the Germans placing them in a financial straightjacket under Angela Merkel.
    The rest of Europe “does not understand” Greece or the Greek people and has a duty to rally round,pass the hat and be more accommodating.
    From where I sit they are all too easy to understand and are entitled to nothing until they put their house in order including reinstating the drachma and removing their heads from their ostrich like positions.

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