So the Eurozoners are chipping another cool £110 bn. into the Greek pot – which is almost certain to be p*ssed away within a few years. At least that’s the view of the ‘markets’ this morning. Put another way, the neighbours have now subbed every Greek about £18,000 to zero effect so far. So why did the paymasters stump up?
Probably because they don’t want to wear the black hat. “We did everything we could, but the Greeks blew it,” they’ll say before long. Better than refusing charity and being blamed for the demise of a friend.
Is it? I wonder. Isn’t being nice to Greeks the same as being mean to the rest of the Europopulation? No contest then.
Boadicea's Chariot 
Totally depressing that the europrats cannot see that more debts + more austerity has not worked so far. So the idiots just try the same old thing again. It’s cheering to see that some countries have not yet paid their share of the first Greek bail-out yet. Why should they?
Sarky had better watch out if he is offered things to go in his shoes to make him look taller, “beware of Greeks bearing lifts.”
Groan, omg!
To be serious, I totally agree with you, the accident has happened, the patient died, the funeral has taken place but the EU keep digging up the body to try and breath life into it.
OMG, excactly – that’s an ancient Greek swordsman in my pic.
The problem is quite obvious. The Greek government are lowering salaries and increasing taxes, yet the only ones that are paying are the low paid and people in proper work.
Most people in Greece work casual hours and are paid in cash, go into a restaurant and use a credit card and they don’t like it as it goes through the books.
Then there are the rich, especially the shipping owners, the richest people in Greece, they are tax exempt. Most politicians have 2 or more salaries and pay little tax, the state pay role is bloated with many people not actually working for the state yet receiving money.
It is a culture that cannot be wiped out by the EU as it is ingrained in the ways of the people.
All they can do is devalue and climb again, but in the Euro it is impossible, whatever wuck fit decided that one currency fits all should be shot.
Sheona: a classified EU document was leaked which showed that the EU is well aware of the fact that Greece’s position is untenable and the current course will accomplish nothing. It seems as if all they’re trying to do is buy time. The problem is that time is that the time bought is no more than leased and there is an even greater payment due at the very end, one that no one can afford.
The news today is that the ‘lenders’ still can’t agree on a formula which will give them adequate ‘protection’. It’s ironic that private lenders have had to take a severe haircut on their loans. But that’s OK. They’re only the one’s who produce wealth for the EUROprats to squander afer all.