As Greece goes, so shall Puerto Rico?

[lustylad]

Originally Posted by WTF

Look Dicklicker, just because my Blazzin Saddles humor goes over your gay porn fluffing head is no reason to disparage Kansas City!

Ok, then you probably remember when Cleavon Little points a gun to his head and says "Nobody move or I'll shoot the n!gg€r!"

That's what Tsipras is doing with Greece.

[lustylad]

Originally Posted by BigLouie

Greece's real problem is that they do not seem willing to address what got them here in the first place. Vast tax avoidance by the entire population. 45% of all taxes go uncollected. Gaming the welfare system. I was reading yesterday that in one area of Greece 80% of the population claimed disability from blindness. Really? Plus excessive wages for government jobs. When the payroll fit the train system is $400 million with revenues of only $100 million you are never going to catch up. Honestly I would never give then another dime until these issues are addressed.

+1

And yet there are morons like WTFagboy who want you to believe the real problem is Greece being forced to "cut payments to the poor to pay off speculators", lol!

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[WTF]

Originally Posted by ExNYer

Why wouldn't it? Didn't Germans in the East kill Western Europeans, too?


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Yes but if you recall East Germany was under Soviet occupation.

Originally Posted by ExNYer

It is a policy explanation. If you keep loaning money to a deadbeat with no strings attached, they will not change their behavior.

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If the strings are in fact a noose around their neck, why would they submit?

Originally Posted by ExNYer

Germany WWII debt wasn't borrowed, it was assessed as a penalty for war making. When the other western countries realized that their new ally, West Germany, was struggling to stay afloat, it made sense to cut it to keep them allied to the West and out of the Soviet orbit. It wasn't like they were going to go to war again because debt relief suddenly made war more attractive.

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Oh so a country that has killed hundred of thousands of your soldiers deserves debt relief more so than a peaceful country?

If the EU is not worried about Greece joining the Soviet orbit, then cut Greece loose and let them manipulate their own currency...that is one of the reasons they are where they are. Without their own currency , they have no way out of this mess.

Unless there is debt relief , Greece needs to be cast out of the EU.

[WTF]

Originally Posted by lustylad

+1

And yet there are morons like WTFagboy who want you to believe the real problem is Greece being forced to "cut payments to the poor to pay off speculators", lol!

When you owe a little to someone, it is your problem, when you owe a lot, it is the banks problem!

After a certain point, when you can not pay your debt, you need debt relief...or should the EU invade Greece?

This, like I said earlier is a game of "The Art of a Deal". How much does Greece want to stay in the EU and how much does the EU want Greece to stay. We are about to find out!

[lustylad]

Originally Posted by WTF

Jackie....just what do you think their current creditors are doing?

Well, for the past 5 years they've been writing down/off billions of Greece's debt, stretching out maturities and lowering interest rates on the rest of it, and coughing up new "emergency" loans to keep the country afloat...

Originally Posted by WTF

After a certain point, when you can not pay your debt, you need debt relief...

That's precisely what the Greeks have been getting for 5 years now, without carrying out their promises to implement pro-growth economic reforms. Principal repayments for nearly half of the country's debt have been pushed out as far as 2053 - with the interest rate cut to 1.5% or what AAA borrowers currently pay! Even interest payments have been deferred! How much fucking debt relief can you give them short of writing everything off?

Q: Who is Greece’s largest creditor? A: The European Financial Stability Facility, the euro area’s original crisis-fighting fund, which has lent the country 141.8 billion euros, and hence owns about 45 percent of its debt. The average maturity of EFSF loans to Greece is just over 32 years, with the last payment due in 2053, according to the EFSF’s website. Greece pays about 1.5 percent on those loans, comparable to what a AAA rated country would be charged....

Q: When is Greece scheduled to start paying principal on the EFSF loans? A: Not until 2023. It also enjoys an interest deferral on most of the loan...."

http://www.bloomberg.com/news/articl...s-on-the-hook-

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[WombRaider]

Originally Posted by WombRaider

Why am I pretending to care? Because you can't imagine actually caring about something? Here's a little note for you; just because you can't imagine it, doesn't mean someone else can't. The only thing spiking is your blood sugar. The problem with Tsipras is that he is saying the debt is not manageable and the IMF report says this is not true. Both sides have played fast and loose with the truth at times. Coming out of the shitter is a relative term. They still had debt at 80-90% of GDP. The lower interest rates and stretching the terms out till 2060 or wherever it is now, means that the lenders are not going to see all their money and they know this.

Originally Posted by lustylad

Well, for the past 5 years they've been writing down/off billions of Greece's debt, stretching out maturities and lowering interest rates on the rest of it, and coughing up new "emergency" loans to keep the country afloat...




That's precisely what the Greeks have been getting for 5 years now, without carrying out their promises to implement pro-growth economic reforms. Principal repayments for nearly half of the country's debt has been pushed out as far as 2063 - with the interest rate cut to 1.5% or what AAA borrowers currently pay! How much fucking debt relief can you give them short of writing everything off? (Wait for the link, dumbass.)

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Lower interest rates and the terms extended out to Timbuktu. Hmmm... that sounds familiar. Oh yes, maybe it's because I pointed it out 8 pages ago, you unoriginal cocksucker. You're not the only one with a copy and past folder.

[WombRaider]

If you want to get your panties in a twist over something, Greece is small-time bullshit. China is what should have you shitting bricks. Production rate is showing signs of slowing down. Fixed Asset Investment is really taking a hit. For Lusty Tard and the Kansas City reacharound crew, FAI is any physical asset held for longer than a period of one year. Real estate, etc. They also got a little loan happy after the 2008 financial crisis. There debt to GDP ratio went from about 150% to between 280 and 300% currently. That's doubling their debt in less than 7 years.

Throwing more money at the problem is not a solution. It would almost certainly be used by current borrowers to satisfy their outstanding debt and not be pumped into new projects, which isn't a solution.

[WTF]

Originally Posted by lustylad

Well, for the past 5 years they've been writing down/off billions of Greece's debt, stretching out maturities and lowering interest rates on the rest of it, and coughing up new "emergency" loans to keep the country afloat...




That's precisely what the Greeks have been getting for 5 years now, without carrying out their promises to implement pro-growth economic reforms. Principal repayments for nearly half of the country's debt have been pushed out as far as 2053 - with the interest rate cut to 1.5% or what AAA borrowers currently pay! Even interest payments have been deferred! How much fucking debt relief can you give them short of writing everything off?

Q: Who is Greece’s largest creditor? A: The European Financial Stability Facility, the euro area’s original crisis-fighting fund, which has lent the country 141.8 billion euros, and hence owns about 45 percent of its debt. The average maturity of EFSF loans to Greece is just over 32 years, with the last payment due in 2053, according to the EFSF’s website. Greece pays about 1.5 percent on those loans, comparable to what a AAA rated country would be charged....

Q: When is Greece scheduled to start paying principal on the EFSF loans? A: Not until 2023. It also enjoys an interest deferral on most of the loan...."

http://www.bloomberg.com/news/articl...s-on-the-hook-

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Originally Posted by WTF

When you owe a little to someone, it is your problem, when you owe a lot, it is the banks problem!

!

Do you not read what has been written?

[lustylad]

Originally Posted by WombRaider

Lower interest rates and the terms extended out to Timbuktu. Hmmm... that sounds familiar. Oh yes, maybe it's because I pointed it out 8 pages ago, you unoriginal cocksucker.

How impressive! So why didn't you jump in and tell your fellow libtard WTFuglyass he is full of shit to suggest the Greeks haven't already received generous debt relief? Why did you let me hand him his ass when you could have taken credit for it?

And who is trying to be "original" here? I'm just stating the facts.

And have you forgotten how you told everyone "Germany made a big bet and lost" - before you did a little homework and discovered German lenders account for only 1/6 of Greece's total debt? Or how you flip-flopped on the IMF report, first saying it viewed the debt as manageable and then saying it thinks the debt is unsustainable? Or how you wimped out when I tossed 9 questions at you allowing you to demonstrate your mastery of finance? You couldn't even take a stab at one of them. You're a cowardly pathetic fraud.

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[lustylad]

Originally Posted by WTF

Do you not read what has been written?

Is that all you got? A tired old cliché? No wonder you always lose debates.

[WombRaider]

Originally Posted by lustylad

How impressive! So why didn't you jump in and tell your fellow libtard WTFuglyass he is full of shit to suggest the Greeks haven't already received generous debt relief? Why did you let me hand him his ass when you could have taken credit for it?

And who is trying to be "original" here? I'm just stating the facts.

And have you forgotten how you told everyone "Germany made a big bet and lost" - before you did a little homework and discovered German lenders account for only 1/6 of Greece's total debt? Or how you flip-flopped on the IMF report, first saying it viewed the debt as manageable and then saying it thinks the debt is unsustainable? Or how you wimped out when I tossed 9 questions at you allowing you to demonstrate your mastery of finance? You couldn't even take a stab at one of them. You're a cowardly pathetic fraud.

.

Because he's not 'my boy', you fucking retard. I don't jump in to save grown ass men. If he can't handle his own business, that's no business of mine. As for the IMF, it said the debt was manageable IF they had followed the austerity measures, which they didn't. I don't need to answer any questions of yours to demonstrate a goddamn thing. You're the one who feels the need to demonstrate something, not me. And Germany made the biggest bet of any individual country and it was YOUR ass who was schooled on that point, dickshit. You're nothing but a tired, old, discontented, soft-dicked turd.

[WombRaider]

Originally Posted by lustylad

Is that all you got? A tired old cliché? No wonder you always lose debates.

Debates

[Yssup Rider]

Originally Posted by lustylad

Ok, then you probably remember when Cleavon Little points a gun to his head and says "Nobody move or I'll shoot the n!gg€r!"

That's what Tsipras is doing with Greece.

You're full of shit, Junior. Cleavin Little NEVER said that!

[WTF]

Originally Posted by lustylad

Is that all you got? A tired old cliché? No wonder you always lose debates.

Just because you have your panties in a wad over Greece's debt does not mean that many of us do not see it for what it is....which does appear to be a bad bet on loans to Greece. That is what lending money is all about dicklicker. Did you access the risk proberly or not? The banks appear not to have! Why are you having so much trouble with that fact?

Can the EU make Greece pay? Are you for war over this civil dispute?

Originally Posted by WTF

When you owe a little to someone, it is your problem, when you owe a lot, it is the banks problem!

After a certain point, when you can not pay your debt, you need debt relief...or should the EU invade Greece?

This, like I said earlier is a game of "The Art of a Deal". How much does Greece want to stay in the EU and how much does the EU want Greece to stay. We are about to find out!

[BigLouie]

In the end Greece did what the EU wanted them to do and they got their money. Pensions are cut back, the age they can start getting pension increased. More tax collection.