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| Europe |
| Greece set for severe bail-out conditions |
| 2011-05-30 |
| Mama! the end of the world is nigh, Greeks may have to pay their taxes. European leaders are negotiating a deal that would lead to unprecedented outside intervention in the Greek economy, including international involvement in tax collection and privatisation of state assets, in exchange for new bail-out loans for Athens. People involved in the talks said the package would also include incentives for private holders of Greek debt voluntarily to extend Athens’ repayment schedule, as well as another round of austerity measures. Officials hope that as much as half of the €60bn-€70bn ($86bn-$100bn) in new financing needed by Athens until the end of 2013 could be accounted for without new loans. Under a plan advocated by some, much of that would be covered by the sale of state assets and the change in repayment terms for private debtholders. |
| Posted by:tipper |
| #6 change in repayment terms for private debtholders Otherwise known as a default. |
| Posted by: phil_b 2011-05-30 22:39 |
| #5 It has been a long term problems. |
| Posted by: newc 2011-05-30 11:54 |
| #4 This is a terrible idea "including international involvement in tax collection and privatization of state assets" When Nationalism kicks in history will repeat itself. Especially if things get worse.The EU will with willful ignorance or even willful arrogance fan the flames of Nationalism. Why is it always more money that is the fix?. What next should this fail and it will. Nothing is being done to stop the bleeding. Transfusions at one end and blood loss at another. Modified Marshall plan based on capitalism of its people and industrial development not handouts not more socialism. Rather a nationalism of a people to work for their own betterment and to help others less able. The pass it on idea. Naive perhaps. Wishful thinking maybe. Better choice possibly. "Which shall it be" H. G. Wells. |
| Posted by: Dale 2011-05-30 11:24 |
| #3 Don't bail any of them out. They're supposed to be adults - let 'em sink or swim on their own. And no, we shouldn't have "bailed out" GM, the banks, etc., here, either. It's only made us measurably worse off. If you're "too big to fail," you won't fail. (Though size isn't really the issue, is it? It's lack of real leadership, union greediness, and pandering politicians.) |
| Posted by: Barbara Skolaut 2011-05-30 09:41 |
| #2 For Sale, One aged Socialist Country. Must be able to pay debts and support aging overpaid early retirees and their dependants. This has a lot of history. Might serve as a bad example - if anyone would listen. Must Sell! Cheap! Inquire: Office of the President - European Union. |
| Posted by: CrazyFool 2011-05-30 01:43 |
| #1 unprecedented outside intervention in the Greek economy ....which could have included a stern warning form Communist China, had the Greeks a foreign policy and military. |
| Posted by: Besoeker 2011-05-30 00:53 |