greek-debt

UPDATE – 19/05/2017: Is anybody else getting a sense of déjà vu? The Greek parliament has just approved a new package of austerity measures, including tax rises and pension cuts. The measures were demanded by Greek’s creditors in order to unlock the next instalment of its multi-billion euro bailout programme. Greece needs to secure another €7.5bn loan in order to finance debt and interest repayments on its existing loans. However, the Greek government argues it cannot continue implementing austerity measures without some form of debt relief. Greek economic output has shrunk by roughly 25% since 2009.

UPDATE – 27/04/2016: While Europe has been distracted by the ongoing migrant crisis, the Greek debt crisis is still rumbling along in the background. Most recently, talks between Greece and its creditors were temporarily suspended, with creditors blaming a lack of progress from the Greek side.

The creditors want Greece to adopt an additional €3.6 billion package of cuts and austerity measures that would come into force only if Greece misses its primary budget surplus targets for 2018. Prime Minister Tsipras argues that legislating in advance is unconstitutional. Could the Greek debt crisis be about to flare up again? Or is the recent suspension of talks just a bump on the road to recovery?

ORIGINAL – 11/03/2015: Greek public debt in the first quarter of 2015 stood at 168% of GDP. That’s roughly twice the EU average, and the debt burden has been going up, not down, as the Greek economy has contracted by around a quarter since the crisis began (in 2008, Greek debt was a mere(!) 112% of GDP).

General unemployment in Greece is terrifyingly high at 25%, reaching the same unenviable levels as in Germany during the Great Depression. There are nods and winks towards a “gentleman’s agreement” behind the scenes, whereby Greek debt will be restructured if the government successfully carries out structural reforms. In fact, European Commission First Vice President Frans Timmermans hinted something similar during his comments for the ‘State of Europe’ round table in Brussels, an event organised by our partner think tank, Friends of Europe. But, if such an agreement exists, should it be made explicit?

We had a comment sent in from Jude, who strongly supports debt relief for Greece and argues that “austerity suppresses growth”. Is he right? Does Greece need its debt burden cut before it can get back on track?

To get a reaction, we spoke to Maria Stratigaki, Athens Vice Mayor for Social Solidarity. As somebody who is dealing with the impact of austerity and cuts on the ground in Athens, what would she say to Jude?

We also had a comment from Eusebio, arguing that Greece “clearly needs social security and tax reforms”. Does Maria Stratigaki agree? And is she confident the current Greek government can deliver?

Finally, we spoke to Pascal Lamy, former Director-General of the World Trade Organization (2005-2013), and former European Commissioner for Trade (1999-2004). Did he think that Greece needed debt restructuring?

Will Greece EVER pay off its debts? Or does the country need a massive debt write-down? Will the SYRIZA government be able to deliver on structural reforms? And are such reforms necessary? Let us know your thoughts and comments in the form below, and we’ll take them to policymakers and experts for their reactions.

IMAGE CREDITS: CC / Flickr – Global Justice Now


319 comments Post a commentcomment

What do YOU think?

  1. avatar
    Dino Boy Mican

    Yes but the money was spent (overspent) and some guys got it! Half of it was transferred abroad. You mean to say Giorgos Lampropoulos that Greeks deserve a debt pardoning? And those members of the corrupt upper middle class and elit, too? They made fortunes. A poor country of the 70s which reached western living standards in just 25 years, you think it was out of hard labour, dear ol’ chap? There is a moral hazzard here!

    • avatar
      Ivars

      why did you not ask help in taking then? Or in spending? Now when you need to give back what you took suddenly you need help? eF you mister!

    • avatar
      Vicky

      Αbsolutely right!

  2. avatar
    Γεώργιος Δανιηλίδης

    Greek debt is EU S debt created from high interest rates up to7% when good old Germany pays o% on a 2,5 trillion huge debt.PLus 3 “bail out” programs help TO DECREASE 30% GDP ,INCREASE UNEMPLOYMENT TO 26% FROM 9% AND INCREASE DEBT FROM 120% TO 170% without a penny given into Greece.

    • avatar
      Marie Bella

      I said once and I’ll say it again.
      Germany, pronounced blood suckers.

  3. avatar
    Stella Kontogianni

    Will any other pay off its debts? It may be possible to reduce percentage, but total pay off is impossible for all indebted countries. Don’t focus on Greece only. Lets see the problem in general. Greek debt is not isolated, it is part of European debt. We have to work together to solve this kind of problems and not see any country isolated

    • avatar
      Eva

      If you read the statistics, Greeks are the most hard working people in EU.

    • avatar
      Mercurio

      And if you knew the facts you would know that the bailouts are to pay back debts, not salaries and pensions in Greece or anywhere

  4. avatar
    Dimitris Stamiris

    ITS ALL FOR A REASON :

    1st (until 2009)wen you give a loan for one reason but you see that nothing hapend WHY YOU GIVE 2d ,3d ect ???

    2d (after 2009) wen EU ask for full control to save us wen debt was 300 billions WHY NOW IS MORE THAN 400 ??????

    3d WHY WE HAVE PAY MORE THAN 4 TIMES THIS DEBT BUT WE STILL MUST PAY ??????

    4th why EU ask from us to do thinks useless for the debt as free the name FETA so German factories make (fake) feta now ?

    5th why German companies in GREECE pay less taxes than all the GREEKS ????

    6th why if I don’t pay vat I go straight to prison and the same time Mercedes , BMW , and all other German companies must pay more than 1,5 billion and they will not pay or go to prison ???

    I CAN WRITE MORE IF ANYONE WANT !

    THATS HOW REALL IS THE DEBT !!!!!!!

    Μιχαλης Μιχαηλιδης Χριστινα Πετρενιτη Xristina Skandalari Μαρθα Σκανδαλαρη Νίκος Χατζητρακόσιας Daria Bilska-Stamiri

  5. avatar
    ironworker

    Probably not, but is “very comforting” for the lenders (german capital) to know (according to Troika) that greeks are struggling to pay interest.

  6. avatar
    Ioannis Mitsou

    Greece never will make to pay the debts because it gets loans in order to repay them.this is illogical because you can’t repay your debts when you are getting new loans.

    • avatar
      Mercurio

      Exactly. Therefore Syriza should had respected the referendum and its promises and not accept new loan terms.

  7. avatar
    Hanni van Hemme

    Ik vind het dom van de E.U. dat ze dit land blijven steunen zo worden de andere landen telkens opgezadeld met weer wat geld naar hun over te maken en dat krijgen ze nooit terug. Verklaar dat land faliet en laat het met een schone lei beginnen want dan kunnen zij wel over een paar jaar het geld wat ze van de landen die ze nu telkens met een schuldenlast opzadelen terug gaan betalen en dan krijgen we een wat rijker Europa TERUG.

    • avatar
      hans van veen

      Mevr Van Hemme,

      Het is niet dom van de Europese Unie, maar een strategie van de EU politici in nauwe samenwerking met de banken.
      Het eenvoudigste voorbeeld is te googlen naar de nevenfuncties van Mr EU, Guy Verhofstadt.
      Dan leest u dat hij als commissaris betrokken is bij verschillende bedrijven die maar al te graag nog meer invloed krijgen dan ze al hebben in Griekenland.
      Ten tweede ligt door Giekenland een gasleiding tussen ruwweg Rusland en Europa. De Grieken zijn dus als doorvoerland zeer belangrijk.
      Zowieso al 2 redenen waardoor “Brussel” nooit en te nimmer Athene in de steek zal laten.
      Dan de banken.
      De meeste daarvan hebben connecties (lees leningen) met de Griekse.
      Omdat de ECB als taak heeft de € te bevorderen, dus ook in Griekenland (hetgeen weer haaks staat op de ECB acties eerder dit jaar) De ECB ( dus de Europese belastingbetaler) zorgt er echt wel voor dat de banken beschermd worden en zijn.
      Veel meer uitleg vind u op “Follow the money” waar duidelijk verklaard wordt welk spelletje door “Brussel” ism de banken gespeeld wordt.
      Wat Griekenland betreft……hardwerkende mensen die net evenals wijzelf in een peperduur politiek avontuur gestort zijn.

  8. avatar
    Stefania Portici

    Prima della UE i debiti pubblici non erano un problema . Debito usato per schiavizzare i popoli e imporre regole e principi CHE NESSUNO HA SCELTO. Finirà , oh se finirà !!!

  9. avatar
    Vangelis Goranitis

    I will answer with a question: Will any state EVER pay off its debts?

  10. avatar
    Antonio Tassara

    I think we should or at least partialy.. Greece may have made a big mistake but so was the troika and all of those bankers… besides we want to move forward and have some growth around Europe.. it makes no sense to keep punishing one of our brother nation!!!

  11. avatar
    Rüdiger Lohf

    No chance – just back from Greece there is another reality. Who can reform that country?

  12. avatar
    Enric Mestres Girbal

    NO, but if they want to keep in the EU they should try to pay some, the bassic. Another thing is, it’s worth to keep in the EU and €zone?.

  13. avatar
    Borislav Valkov

    Greece should have went bankrupt rather than facing the troika. The drahma is their salvation. Bulgaria faced IMF and because of their reforms now 70% of the national budget is icomming from taxes of the people and the big buisness is spared with 10% corporate tax.

    • avatar
      Mercurio

      Bulgaria is at the bottom of the EU in every aspect only rivaled by Romania. No, thanks.

  14. avatar
    Rui Duarte

    In order to pay its debts, Greece must run a tade surplus. Any discussion regarding debt should consider this. Discussing debt alone, is discussing the simpthome, leaving the cause of the problem outside the discussion.

  15. avatar
    Rui Duarte

    In order to pay its debts, Greece must run a tade surplus. Any discussion regarding debt should consider this. Discussing debt alone, is discussing the simpthome, leaving the cause of the problem outside the discussion.

  16. avatar
    Jude De Froissard

    How can you epect to pay any debt when it is impossible to make any money? It is like asking a castrated person to make babies. … Moreover, this country is no longer sovereign..it is a vassal of the E.U. and of the euro.

  17. avatar
    Jude De Froissard

    How can you epect to pay any debt when it is impossible to make any money? It is like asking a castrated person to make babies. … Moreover, this country is no longer sovereign..it is a vassal of the E.U. and of the euro.

  18. avatar
    Pirvulescu Florin

    Not this again.
    Greece lied about their debt, they worked with huge American banks to change their debt`s appearance so that they can be accepted into the Euro.

    Greece continued to spend well above their means for decades when the economy boomed for everybody.
    What did they expect when a crisis come ?

    And what does this have to do with Germany ???

    Stop smirking, start working.

    P.S. Learn to visualize your economy for the love of Zeus !

  19. avatar
    Pirvulescu Florin

    Not this again.
    Greece lied about their debt, they worked with huge American banks to change their debt`s appearance so that they can be accepted into the Euro.

    Greece continued to spend well above their means for decades when the economy boomed for everybody.
    What did they expect when a crisis come ?

    And what does this have to do with Germany ???

    Stop smirking, start working.

    P.S. Learn to visualize your economy for the love of Zeus !

  20. avatar
    catherine benning

    @ Pirvulescu Florin

    Who are the Greeks that lied? Anyone you know? It wasn’t the Greeks it was ~ Goldman Sachs, they along with the European banks who cooked the books with the yanks to fix Europes wagon. Just as they are doing today.

    Please. The Greeks didn’t even know what was going on. And as a matter of fact, still don’t to this day. But the bill has been stuffed on them.

    • avatar
      George

      Hi Catherine, the Greek people might not have known but the politicians that were in power did. So did people in Brussels but it was all covered up for the sake of political alliances. Which is sad because the EU was supposed to campaign for the people and tackle the attitudes that it is now displaying. Nothing to do with Goldman Sachs but it sounds nice in conversation…

  21. avatar
    catherine benning

    Cancel all debt, not just the Greeks and start again from scratch. And yes it can be done.

  22. avatar
    Mike Oxlittle

    The Greek crisis goes to the heart of the whole Euro fiasco.
    The federalist fanatics who were behind the creation of the Euro always dreamed it would be one of the links that would chain the nations of Europe together along the lines of the states in the USA.The problem is that in America their is a federal government in Washington that takes taxes from all the states and then distributes the money to subsidize the poorer states in the south.Now the taxpayers in the rich states know the poor states are never going to pay the money back,they may not like it but at the end of the day they see it as Americans bailing out fellow Americans. In Europe however it will always be seen as my countries taxpayers having to bail out another country.The fedro-fanatics never stopped to realize the majority of ordinary Europeans don’t think like them.

    • avatar
      George

      Very well put.

    • avatar
      hans van veen

      Agree 100%

    • avatar
      catherine benning

      @ George:

      I think you are way off beam. The inclusion of Greece, who were not financially credible to be part of the EU had the books fixed by Goldman Sachs. Or, were you in another henisphere at the time? This fix was encouraged and aided by the EU banks, as well as the US financial capitalists along with that government. This rollocks made them a fortune.

      Have a little look at this. Ignore it if you want, but, it is factual. And I will add this, the Greek people, that is the ordinary man in the street who is paying for this fraud, had nothing whatosoever to do with it. They were uninformed, denied honesty and taken blindfolded down the river. And still are being used that way today.

      https://www.youtube.com/watch?v=U3xgAC0WiOo

      And here is an outline of the story you want to deny.

      https://www.youtube.com/watch?v=07-hA9DW-Po

    • avatar
      George

      Hi Catherine, thanks for the videos. I didn’t watch the first one, as I don’t trust the mouth piece of a theocracy or any other totalitarian regime. Second one, a bit better but not 100 pc. It actually confirms what I have commented above. I don’t see how it is Goldman Sachs’ fault that the Greek government got into this deal with them. That is why they get elected and get a lot of money. They need to be able to sort out situations like that one and reach a good decision. The answer provided by the Greek government in the end of the video though leaves me in doubt whether that was the root of the problem. I remember at the time that no country, including Germany, met the criteria to join the Eurozone but they decided to go ahead with it on the understanding that countries would implement some austerity measures in order to converge the economies. About a year later Greece elected a new government from a different political party that stopped all austerity measures and during its 8-year term the debt tripled. On the one hand Mr Karamanlis was saying that the previous government had concealed the true figures and on the other he did less than them to tackle the issue. And that is how Greece missed a major opportunity due to lack of self-discipline and excessive love for the good times. oh yes, sorry, it is all GS’ fault or even extra-terrestrials…, according to Varufaki, the Marxist with the Burberry that conspired with Schaeuble to get Greece out of the Eurozone…He conspired with Germany against the Greek people. And rejected by all political parties he’s only got foreign news channels hungry for drama to go to.

  23. avatar
    Alexander Grech

    The ball is very much in Greece’s court,because they are debters,and are always the winners at the end.The creditors are the losers.

  24. avatar
    Vinko Rajic

    NO ! Greece will never pay of its debts . EU should have police force and fight corruption in Greece . EU should help Greece to pay off its debts just if Greece allow EU police to destroy their corruption . Otherwise Greece should go out of the EU . EU member states should fight crime and corruption otherwise they should not join EU member states . EU is there to help our development, that is the reason we have the EU , if some member state don’t want to follow EU justice they should leave the EU . Greece has bad kind of corruption and they have big money in Switzerland and London .

    • avatar
      Tarquin Farquhar

      @Vinko Rajic
      Hmmm, looks like you’ve been reading the mind of a pro-EU fruit and nut case.

      Greece, was no angel BUT the German, French and Dutch banks destroyed the Greek economy.

  25. avatar
    christos

    Greece will never pay its debts thanks to the conditions was forced to agree in summer.The blackmailing of my country from the political coalition that supports austerity, does not give us a chance to construct a healthy economy. Unemployment is on the rise, the Neo-Nazist party of Golden Dawn is the third political power in our parliament and our goverment seems to lack the political will to fight the corruption which created that toxic debt. Our only chance for a better future-as Greece and as EU- is to bring back the unity that Europe has lost in the years of the European dept crisis and the only way to suceed is by forcing certain politicians to give up the power they had gained in the name of economical stabillity.

    The only realistic agreement to pay what we owe is by extending the time period-unfortunately i don’t believe a financial haircut to happen. Of course that does not mean we should not build a serious taxing policy to allow investments who will grow our GDP and bring more jobs, or fight back corruption by making our public sector more democratic and less bureaucratic.

  26. avatar
    Giannis Ignatiou Ignatiou

    Europe has unveiled its true face. With all these pile of problems it’s now clear that the nation state is still the epicentre of the international relations. Now we became 28 and it’s more difficult to keep up. So eastern European countries which were traditionally poor and were sold to mainly German and French capital soon after their independence in early 90′, they now oppose the idea of forgiving Greece for its debt. So as the Franco Germans who oppose the concept of debt haircut to a candidate for the “eastern” camp Greece. The Italians and Spanish are on hold as they still hope for better days after some partial recovery. Greece itself cannot accept that life can change so dramatically in a 5 years period just because every “fairytale” has an end. Whether we like it or not Europe will never be unified as we are dealing with 28 different states with different historical backgrounds and wide inequalities. It’s a matter of time to restore the traditional chessboard in politics where the nation states dominates everything. As for Greece…. goodnight and good luck with the cookers you elected for your salvation. Better be taught by mistakes others did in the past (see soviet union), but the Greeks wanted to see themselves that socialism doesn’t exist in practice… payback time I would say.

  27. avatar
    Chris Paulidis

    Greek dept is the outcome of all western methodical policies towards political & economical colonization of this rich country. The rest is BS.

  28. avatar
    Eric banner

    Another ludicrous question,The answer is ” of course not”.
    Do you ask this question in an attempt to distract peoples attention from the much more important issue facing Europe,that of the Migrant Crisis.
    How can you expect a country on its knees to Ever pay off a loan of this size ,and deal with the mass exodus of people from North Africa.
    Why do you actually bother asking these questions,it was answered years ago,
    When was it answered ? i will tell you.It was answered on the day of Greeces First bail out.

    • avatar
      Eric banner

      By the way ,I dont say this with any disrespect to the Greek people,who I think have been treated appallingly by the EU.
      Greece has been bullied and made the scapegoat by the heads of the EU,and are now being left to deal with the mass exodus from north Africa with very little help from Mr Junckers and his friends.

  29. avatar
    Nikola Kutin

    If you want to preserve the Euro Zone and to stop the populist communist and extreme right movements … just forgive a huge part of the Greek’s debt and make the rules more strict and also make everyone to follow them.. It happened with Germany.

    • avatar
      Eric banner

      Nikola,Why would you want to preserve the disaster that is the eurozone.
      As for populism and right wing,those terms are interchangeable with patriotism .
      Lets just go back to governing ourselves and trading in a friendly manner.

  30. avatar
    EU reform- proactive

    What an appropriate picture! Mrs. Merckel looking out of her EU window- realizing the EU- her end is near- oh God, what have I done, what genies have I set free?

    Can’t help to be reminded on our traditional “advent calendar” (we had as children)- every day opening one “window” in anticipation X-mas’s coming! Maybe some body has enough courage to produce a “political correct EU calendar”- depicting all these different characters (terminators) who are responsible for the final act & destruction of our cultural European heritage!

    Awaiting the final “24th day” of the birth of a new & better European dispensation!

  31. avatar
    George

    No, I don’t think it will but I don’t think that it will ever reform either. You cannot help people who are unable to help themselves.

  32. avatar
    Nigel Daff

    We europeans seem to have forgotten the greek finacial collapse during this migrant crisis.

  33. avatar
    Nikos Themelis

    That debt cannot be repaid.It’s mathematical impossibility.
    The sooner everyone accepts that and designs the appropriate policies the better.
    Austerity is just useless,damaging and outright murderous.

  34. avatar
    John Choud

    As long ”big Sharks” want to suck all Greece’s blood the answer is no ! WE are ALL responsible my friends ! Do not forget why Eurozone created for ! Most of us want a united Europe,a Europe which citizens and goverments will respect, help each other in difficult and peaceful times ! Thats the point,isnt ?

  35. avatar
    Triantafyllos Zervas

    If Europian Union (just kidding, there is no Europian Union, only Union of Germany & Friends) had lend money to Greece with the same interests or even lower with the other European countries, as Greece is in one of the most crucial, unstable and important positions for either Asia,Europe and Africa, then maybe Greece and Greek people would have the will and the potential to pay them back!

  36. avatar
    Γεώργιος Δανιηλίδης

    Τhat s equally PORTION with Italian debt OF TWO TRILLIONS if you count maturity time.And it is not Greek but E.U.s debt because all USED TO PAY high interested bonds of EUROPEAN BANKS(AND ECB) and various funds AND INDIVIDUALS with super profits up to 80%.All of them KEPT TOP SECRET instead of raise criminal ivestigations.

  37. avatar
    Tarquin Farquhar

    Of course Greece will pay off its debt – after said debt has been reduced to a mere fraction of the original mammoth and irrational debt amount!

  38. avatar
    Alberto

    Clearly Greece won’t be able to pay, so debt restructuring will have to happen sooner or later. It’s practical, but it’s also fair: when creditors loan money to a country, they know that they won’t be able to force that country to pay back the same way they could force a private person to pay back. And when creditors loan money to subprime debitors, they’re assuming the extra risk of not getting their money back. Creditors assumed both risks. So Greece is not the only party to blame and this should be reflected in the amount of debt to be repaid.

  39. avatar
    Nick the Greek

    Greece cannot pay debt(s) now standing at 200% of GDP…No country can do that!

    Hence, Greece cannot progress, go forward, prosper or prevail on Merkel-Schaeubles administered Austerity (demands) diktats.

    The demands placed on the Greek economy cannot be delivered easily, without driving the Greek economy further and further downwards. Those who think it right, to drive the Greek economy downwards should also prepare themselves for some awkward and adverse affects on civic and social cohesion…not just in Greece but elswhere in Europe too!

  40. avatar
    Andreas Agathokleous

    Not in a million years. The EU is as much accountable as are the Greek politicians signing all those memorandums! You knew very well that the debt is unsustainable and impossible to be repaid and yet you kept/keep throwing money in a black hole (which never goes to the Greek people).

  41. avatar
    Claudio Bartoletti

    WILL PIGS FLY ????……….ask germany to get the hell out of europe and all will be fine, they did everything to bring Greece to its knees, and many other countries as well, Greece can never pay back the debts and it is a fact.

  42. avatar
    Rosy Forlenza

    what I don’t understand (unless I go into conspiracy theory land), is why or what is the thinking behind continued Austerity? There can be no growth in Greece, a lot of economists agree that something in place of austerity needs to happen. I think all Southern EUropean countries suffer from too much unnecessary or useless beaurocracy and not enough accountabiity. That is not to say that there is also some very useful beaurocracy that the ‘any thing goes’ northern europeans might be mindful of too. Simplify an accelerated legal system, simplify tax system, rebates not indefinite IOUs and maybe the EU could look carefully at a property buying set of rules that incorporate the best of what we have and insist that debt follows the person not the property which would make investment much easier and less fearful.. Southern EUrope doesn’t need a buiilding boom, but small investors doing a bit of air bnb for off the beaten track places could bring money back into circulation. Equally, particularly in Greece’s case, better manners on the tour companies (all of whom come Northern Europe), if the EU officials stuck their noses in at these crucial points, then they would be welcome by all, but austerity is a road to no where – so is there another reason why the Eu want s austerity? corporate buy up cultural sites? corporate buy up of state run services? If not this then what? and Why? we have seen Luxembourg punishing whistle blowers regarding tax evasion. Junker should go , he is not a tenable or creditable head of the EU commission, he has done a poor job, is hated, is synonymous with the democratic deficit, and given his own country’s assistance in tax evasion is no longer credible. A new vision is needed.

  43. avatar
    Richard Renckens

    They will never be able to pay back. The debt is levaraged to force Greece reform the country to a contributor to the EU instead of a laggard. Once the reforms come and Greece proves itself worthy to be on the team the debt will be cancelled in small portions

  44. avatar
    Stefania Portici

    come si è creato il debito in Grecia? La Germania ha guadagnato 3 volte dal debito greco e anche la Francia . Sappiamo tutti che la Grecia non può restituire il debito e dietro a quel debito ci sta la vita di esseri umani. Si stanno commettendo crimini contro l’umanità infierendo contro il popolo greco ( oggi loro ma domani noi , tutti noi Paesi che abbiamo l’euro ) in nome di un liberismo sfrenato, selvaggio . E’ una vergogna che verrà ricordata nella storia . La Germania potrebbe anche abbonare il debito ( passa per buona dopo che è stata lei la Francia e gli USA a metterla in ginocchio e a noi italiani ci hanno tolto il governo eletto per non intervenire e per farci pagare in silenzio ) ma col FMI come si fa ? Come si ripaga quel debito ?

  45. avatar
    Marijus Stasiulis

    Germany managed to repay reparations, then after Hyperinflation Nazie Germany conquered whole Europe.
    So Greeks should ask Germany, how they solve money problems.

  46. avatar
    Vinko Rajic

    NO ! EU should have police to fight crime and corruption . If something happen in some EU member like now in Greece that police force should together with EU Parliament intervene and save country economy and destroy corruption . People in that country should have referendum to confirm they want to be saved from the EU otherwise that country should exit the EU .

  47. avatar
    Fanis Fues

    The problem isn’t the Greece neither the greek people … the problem lays in capitalism . Plot twist , what if the money that were laudered in Panama (est. 3.1 trillion dollars ) were taxed and deposited in EU banks ? Whould you think any of us would have this convertation right now ?

  48. avatar
    Icarus Kratsas

    Countries never repay all of their foreign debt. All countries are in debt up to a certain extent, they issue bonds and they pay the bondholders when those bonds expire and then they issue new bonds. What is different about Greece is that our GDP has decreased steadily throughout those past 5 years and that we find ourselves unable to pay for the bonds that expire and issue new bonds (because no one trusts the Greek economy to buy new bonds, they demand a huge interest rate for the increased risk they are taking). The only way out of this is if we manage to produce surpluses in the longer term, restructure our economy to be more investor friendly so that we can regain the trust of financial markets, increase our GDP and start handling our debt without help from the ECB and IMF. That’s what I think. And I am Greek.

  49. avatar
    Davide Zoran Parenti

    Off course no. There’s no need to be a great economist to understand that is simply impossible. It’s the math, baby. Even if somebody’s still trying to convince us that they can if they cut, they save, they increase productivity and bla bla bla

  50. avatar
    Alexios Tzimas

    Greece (and most probably every other country in the world) will not repay its debt because it doesn’t need to.Unlike people, countries do not need to repay their debt in full. All they need to do is simply “roll it over”. Once a bond is due, you issue another bond (new debt) in order to repay the former one. What changes is the intrest rate. But no, you do not actually need be debt-free.

  51. avatar
    Barış Ekici

    Of course not, but greece will not pay it anyway, because they know, to save Euro Zone, EU will save them again, untill they kicked off from the zone. Greek Administration should be taken over by Germans and countermeasures should be implied.

  52. avatar
    Benoit

    How fake and shameful is it that the question is only asked. .. of course they won’t
    . . And guess what, France Germany and the US will not either. .. debt is the only reason why there is money on this world (someone had to print the first note right?) And giving it to banks was the biggest mistake that has ever been made…

  53. avatar
    Σαντυ Μπαλμπαγάδη

    So nice people outside of EE,have an opinion about countries that are the EE.No Greece won’t pay the debts as we don’t even know what kind of a debt is that.Plus the EE and IMF have no idea of wht they are doing.I think we are guinea pigs for them.They are testing on us.

  54. avatar
    Ian Culpin

    The actual per capita external debt of Greece is lower than most of the rest of the EU, the problem is the high rate of interest on their debt.

  55. avatar
    Jude De Froissard

    Rosy Forlenza says it all.she thinks normally. …like everyone would.Austerity is the main obstacle among others….

  56. avatar
    Xavier Otenblaaum

    People loosing their jobs and millions in retirement accounts from Deutche, PNB, Goldman are not worth more than a person committing suicide because their government has taxed them to death. After these priorities are straight you can stop the interest rates at double the principle and give them some breathing space to develop a strategy for solid development based on dividents rather than growth.

  57. avatar
    Banu Demirtas

    it will be never payed off..as so many other countries..that’s the way how the countries are stcked together… it’s a vicious circle..

  58. avatar
    Manolis Karras

    Greece, Cyprus, Yugoslavia, and Ukraine were ” taken down” economically to pave the wave for oil routes from Israel and Turkey. This is why Germany and the EU are friendly to Erdogan’s wishes. The prime target is weakening the Russian oil trade which is their key income and getting rid of Putin and Russia, as it cannot be done now since they possess nuclear capability. The debt is used by economic hit men to put in a gov’t according to their needs. That is, a “yes” gov’t. The creditors are the same lenders before the crisis and were well aware what happen’s to a country getting ” crow” loans. As matter of fact they pushed in more loans and had a “yes” gov’t welcome them later. So nothing is by chance.

  59. avatar
    Fabrice Bordier

    The real problem in canceling The Greek debt is not really the debt itself, it is the fact of cancelling it.
    If we do it for Greece, why not do it for other countries.
    And it also poses an ethic problem for the Greeks, if their debt is cancelled, they will be seen by other Europeans as the non-payers, and assisted people.
    Now the Greek people are not responsible for their former leaders lying to them.
    So my opinion, is that we should as European, do everything we can to ease the Greeks and help them. And also favor the Greek products in our supermarkets to help the Greeks out of this.
    In return, the EU should have a control over the Greek accounts for a certain amount of years to make sure the Greek leaders are not lying to the people

  60. avatar
    Fábio Capinha

    the debt is not meant to be paid, the only purpose of that enormous debt is to cancel democracies.

  61. avatar
    Christina Kler

    Germany’s debt was cancelled ! Germany is making a lot of money on interest ! Germany never paid war indemnities to Greece ! Germany looted antiquities during occupation ! GermNy Germany is behind 2 huge scandals in Greece !!! More than enough reasons to reduce the debt !

  62. avatar
    Andrew Lally

    are they “its” debts? or debts encouraged by foolish German (and other) banks lending without any due diligence?
    theyre eurozone debts and should be paid by the eurozone.

  63. avatar
    Franck Néo Legon

    We should stop private banks money creation allowance and go back to state banks money creation monopoly, this debt system in which we have to pay always more and more for nothing is pure crookery.

  64. avatar
    Dit Ta

    Cancel all the debts of everybody worldwide and start all over again ! Algorithmes create mistakes, discrimination and poverty !

  65. avatar
    Tasos Serres

    Who talks about Greek people… The bastard of the mongols who has no shame and have a profile picture with the Cyprus flag. If you have guts, put also a photo of the 1619 people that murdered by your “”brothers “”in the turkish invasion in Cyprus . Stupid asshole, you don’t belong to Europe. Look at your country and check how your dictator Erdoğan steal your money and build golden palaces. Check about your friends, ISIS, how they cooperate with your dictator and don’t speak about Greece. When we have civilization you live in Mongolia and you hunt snakes to eat meat.

  66. avatar
    Athanasios Spyropoulos

    They should cancel the dept. It is impossimple for Greece to pay all thtis huge dept.

  67. avatar
    Nat Atkins

    At the risk of not being allowed to enter Greece again: Emotional arguments aside, all actions have consequences. The debt should not be canceled or even modified until Greece works out it can’t let people retire in their 50s and have generous social programmes with no cost or consequence.

  68. avatar
    Ioanna Geor

    as an optimist , I will say… no way will we ever pay back all these money. We will probably need another century ) best case scenario) to repay it

  69. avatar
    Markus André

    Debt is not meant to be paid, but managed. There is no paying off debt in this magnificent system we have as there would be no money, isn´t that wonderful? How about educating the public on such things instead of asking stupid questions?

  70. avatar
    Rock The Revolutionary

    The current administrators of capital are not some newcomers in society . .These Beasts are the children of the animals that were the caretakers of the feudal lords in the Middle Ages .
    Together they manage the global power and they are who astonished society in the Middle Ages , simply because it is in their interest . Only the conditions of the Middle Ages offered in all these complexed lazy bums wealth and power to ” satisfy their thirst ” and their complexes .
    Whether we are talking about positions in religious mechanisms or positions in the mechanisms of the giants of the economy or state or non- state sector with any object , the persons who occupy these positions are similar to each other .
    From a Christian liberal politician to a fanatical Arab ruler , who is trying to implement the Koran by the letter , they all have one thing in common . They are “products” of the same Western universities. From the child of the US official to the child of the bloodthirsty African dictator , they all have the same common degrees.

  71. avatar
    Rock The Revolutionary

    Gangs of usurers , pretending to be legitimate bankers, are ravaging the country’s and its inhabitants.
    We arrived at 2016 and still there are mothers who are grieving for their children they can not feed and die. Why? Because so they want the multinationals and their managers who want to feel important. We need modern man to decide on what to do. We have to decide n ‘fight. The lucky thing is that today -and due to the nature of the dominant capital, which is lumen, we can fight without spilling a single drop of blood.
    Copy the products of the multinationals. Send to hell the thieves and killers who govern them . Send them to hell all the imperialists, the disabled who govern us and the beasts who serve them. No need to kill them. Deprive them from their income and is just the same. They have learned to live through their money. Without money they have nothing. Neither friends nor women, nor social recognition. Send to hell those who have sent you to hell for centuries. All these seemingly powerful are easy to defeat and this is something that has happened in the past.

  72. avatar
    Gerasimos Laios

    Every country in the world has debts that they will never ever be able to pay. But everyone is focusing on us. Europe and the IMF are doing whatever they can to cripple us and keep us down so that we will never be able to fix our economy, while they are pretending to help. Greece is a convenient scapegoat. The wikileaks leaked quottes from the Troika representatives in Athens say it all. They are “fixing” the crisis. They are creating credit events. They are deliberatly keeping the country to a near-death state for 6 years without allowing it to die or rise.

  73. avatar
    Tasos Serres

    Mr Němec the history of the Greeks and the Italians is well known in all the world. Million of educated people come in our countries to see our cultural achievements. Your complex about Greece and Italy is something that is very interesting for the science of psychology. Go to a good doctor. In Belgium has good doctors. Second, we will not accept from an ex -soviet mappet to talk about Macedonia. Third, go ask your mamma who is your father. Is Russian?? Possible.. Is from Poland?? Also possible… Maybe is ottoman.. Maybe is a belgian man. You see, Belgium offers to you so many things. A father, a job, a new life as free man and not as a soviet mappet like before. In addition, both Greeks and Italians, knowing much better than you soviet mappet, the value of hard work. We didn’t find the value of hard work at the 1990 like you. And something more.. You say that we will pay back everything in all of you (including you). We don’t have any problem about that. But first the Germans will pay back ALL THE STOLEN GOLD FROM THE GREEK NATIONAL BANK that they stolen at 2nd world war. Also, they will pay for the goods that they take from the Greek industry. Also, they will pay for the thousands of dead Greeks in Greece and in the nazi camps of daxau, ausvits, and 4 other camps. So, when we finish with the Germans we can talk about Belgium. Also we can about the stolen money in the belgian colonies of Africa. So, before you judge the Greeks check how much money you have to pay back to all these people in Kongo par example. And something last and this is for all of you. I talk about civilized people, real Europeans not mappets like Mr Němec. In 2 weeks from now, beggin an effort. A political effort for a new, EUROPEAN, political party. The effort starts in Greece from young people who believe in the need of a new Europe. A European Union that will show respect to member countries. A European Union that release the creative power of the young Europeans not a European Union that struggling the dream of all the young people in Europe that want a better future. We name this party “”EUROPEAN PATRIOTS AND REFORMERS “” if any of you believe that the time that the European Union will return to the hands of the young people has come, join us. In our page on Facebook you can express your ideas how you dream European Union. What reforms must be done from us, the young people, if we want a European Union with jobs, social solidarity, health care system able to offer services for all and first to the people that suffering from the crisis. Every idea will be useful. Let’s take back our home!!!!

  74. avatar
    Winston Zhang

    The short answer – NO. If Merkel wants to prevent a Grexit from the Eurozone, she must cancel a substantial portion of the Greek debt.

  75. avatar
    eusebio manuel vestias pecurto

    Europe should continue to support a confortable debt boss and strong social safety net for European workers

  76. avatar
    eusebio manuel vestias pecurto

    To tell the truth the European eurogroup poster must follow the collective way of debt relief Greek Greece has a long way to satisfy the demands of austerity but without debt relief the crisis will never end

  77. avatar
    David Briggs

    The Greece/European Union situation highlighted something significant. It proved that the EU is not really a ‘family’ after all. Who would want to belong to a family that treats a family member who is having a difficult time with such contempt? Mainly driven by the Germans, Greece has been treated in a disgraceful way by the EU. If we look back into post WW2 history, Germany began to repay the $Billions it stole from Greece in installments. These payments ceased after the Berlin Wall came down, with Germany declaring that it no longer owed Greece anything. The amount Germany still owes Greece seems to be forgotten. The same German-led ‘family values’ were aimed at the Republic of Ireland during thier financial crisis. On this occasion, Germany wanted to ‘freeze’ the savings accounts of every Irish citizen. Greece, and for that matter, Ireland are classic examples of why the EU is a failed project. Germany wanted to condemn Greece to a generation of poverty, and they would be better off sticking 2 fingers up to the EU.

  78. avatar
    soultana

    In 1950’s after 1040’s bloody Nazi war, many German Nazis left Germany to hide in the Americas, with pockets full of money and gold! When they arrived the were more wealthy then high class Americans who worked very hard to built this country. First thing the German Nazis did, they purchase massive areas of farm lands all over the Americas, with stolen gold and treasures from the Greek banks/people for example, and from other European countries the Nazis have invaded in 1940’s!
    Everything the Germans/Germany have, is not from their hard work and sweat!
    Not to mention all the money and properties they have stolen from the Jewish people, and the crime have caused, to my opinion Germans are not from the family of man but more related to children of the Viper! Germans are Skythians! The people who drink the blood from their victims skull.

  79. avatar
    Xaralambos Papadopoulos

    NO with politicians like tsipras,koulis Mhtsotakis and the others the answer is NEVER.Moreover Troika doesnt help us,in all the countries that Troika has been involved failed (Italy,Greece,Cyprus).There is no solution for Greece unforunately

    • avatar
      Alex Sascha

      In italy there is no troika

    • avatar
      Diaconu George Razvan

      unfortunately inside euro and with a currency you can’t devalue , it’s gonna be very painful! get out of the euro zone , that’s it … :|. If you are inside euro zone your fiscal discipline has to be top notch!

    • avatar
      Xaralambos Papadopoulos

      Ναι γιωργο Κυπρο σπουδαζω και βλεπω και εδω τι γινεται και δεν τα γαμησαμε ΜΟΝΟ εμεις ΜΑΣ γαμησαν κιολας

    • avatar
      Pedro Castro

      Portugal is clear from troyka as well…

    • avatar
      Panagiotis Chrysochoidis

      europe would survive the domino effect now they are ready for it they had so many years to prepare

    • avatar
      Flavio Sousa

      20% interest rate is unfair and unethical.

    • avatar
      Pedro Castro

      Good thing that never happened then couse that would indeed be unfair!

    • avatar
      Tadas Gyvas Tikras

      How about the corrupt greek guys, who made the country go into debts in the first place?

    • avatar
      Slav Stefkov Zhelev

      Tadas Gyvas Tikras support your comment with evidence, otherwise it remains as ignorant as it sounds. When you are not in Greece and don’t see what the people are going through the least thing you have to do is respect them, and not express strong comments that influence of youngsters!

  80. avatar
    Thodoris Aldakos

    Greece pays already back and will continue to pay its debt. Close cooperation with all EU partners is important for the success.

  81. avatar
    Valeria Tancredi

    90% of the funds to “help” Greece went to pay the debts with the (french and German) banks. I think that mafia would have treated Greece better than UE. Troika has destroyed Greece to rob off their wealth and make them modern slaves. Shame on Ue.

  82. avatar
    Radu Holenda

    When Germany will pay her debts to Romania, maybe i will think that Greece should pay to others.

    • avatar
      Andreas Nikolaidis

      Not only to Romania. Ask Nazi what they took from Greece and Germany NEVER give back

    • avatar
      Radu Holenda

      They have a dept of 19 bilion euros with România

  83. avatar
    Bódis Kata

    Greece is in eternal debt slavery.
    When you put an individual into slavery, that will be illegal. When you put a whole nation into slavery, that’s called an investment with risk management.

  84. avatar
    Maria Karagianni

    Φυσικα και θα το πληρώσει καλα τυφλοι ειστε δεν βλεπετε το πλεόνασμα και την Ανάπτυξή της χωρας… μπήκαμε στο 4ο μνημονιο αν η γενια μου καταφέρει να φτασει στο 10ο τοτε υπολογιζω να έχουμε ξεχρεωσει…βέβαια παντα με 3,5% πλεόνασμα…

  85. avatar
    Ângelo Do Carmo

    cancel debts will solve nothing. those countries will put themselves again in debt. it’s just a matter of time.

    • avatar
      Slav Stefkov Zhelev

      What do you mean by those? What are we, the garbage of EU? What does those mean ????? Don’t want to go as intellectually low as you but will, your name is either Portuguese or Brazilian, so don’t think you are in position to say this! Greece has higher salaries than the aforementioned countries even at it worse so no ignorant comments please! Also, check the post on your wall from 20 July 2016 and see which EU nation works the longest hours per week!!!

    • avatar
      Ângelo Do Carmo

      By those, I mean the countries who are currently in debt, and I put my country, Portugal, in “those”, off course. I am sorry that you do not have the intelligence to understand something as simple as this.

    • avatar
      Valeria Tancredi

      Does anyone oblige these institutions to give credits to “those” country? Why don’t they have any responsabilities in doing wrong investments?

    • avatar
      Ângelo Do Carmo

      If I borrow 100€ from you and then refuse to pay, is it your responsability?

  86. avatar
    Free Mind Renaissance

    Greece was never meant to pay off their debts. The IMF is using Greece as it’s cash cow, trying to milk every last cent out of it’s people until Greece is nothing more then a cheap-hell hole people can take their holidays to.

  87. avatar
    Ivan Burrows

    .

    Just like the other Euro using countries it was never intended for Greece to be allowed to pay off its debt.

    You are now all owned by Germany.

  88. avatar
    Theofanis Faid Koulouris

    Only if it stops creating a deficit due to high running costs of the public sector and if a solution wil be found on pensions. In 50 years it might then repay its debt.

  89. avatar
    Akis Muto

    Repaying the debt is neither the point nor the goal. What matters is growth that allows amy debt to be managable. Will Germany or France ever be able to pay off tbeir debts? Thats not the question

    • avatar
      Michael Paraskevas

      With the austerity measures there can be no growth. What happens is milk the cow and then kill it.

  90. avatar
    Patrik Klingborg

    No, it should not be repad in full, that’s just unrealistic. The Greek people and state must, however, convince the EU and IMF that it can stand on it’s on legs economically before debt relief can be discussed – at which point I will welcome it.

    • avatar
      Michael Paraskevas

      With the austerity measures there can be no growth. What happens is milk the cow and then kill it.

    • avatar
      Patrik Klingborg

      The economy is growing at the moment as far as I understand, albeit slowly?

    • avatar
      Nicolas Solonakis

      Patrik Klingborg From 2011 the growth rate of GDP in Greece is negative. That means the country has been in recession for 6 years now. Annual growth rate varied between -0.2 and -0.7% during the past 5 years. What actually grows in Greece is the poverty rate…Statements like “the economy is growing” are nonsense. What you measure is merely the growth of GDP per capita ( which in any case tells nothing of how this GDP is distributed) and the gross surplus of government income with respect to its expenses. And guess how this surplus is made ? By cutting in health care, pension schemes, social aid; by turning entire parts of the country, including strategic sectors like roads, public companies, harbors…into private hands. That is an entire country being sold out.

      Not only is this outrageously undemocratic, not only is this a severe attempt at a country’s sovereingty (with the servile cooperation of some of its élites, I admit) but it is also economic nonsense. When you undermine the purchasing power of the population, you automatically drive aggregate growth downwards, as derives from basic Keynesian theory. And by driving growth rate downwards, you mechanically increase the debt rate. Debt rate (ratio of total stock of debt by GDP) is conversely proportionnal to GDP growth rate and to inflation rate. Hence, EU policies in Greece are total nonsense : they urge the country reduce government spending, which in the very short run reduces the debt rate, but since the drastic reduction of State expenditure combined with the loss in purchasing power of the population drives aggregate consumption and hence GDP growth downwards, it eventually increases the debt rate so as to cancel the initial effect of reduced government spending…Even the IMF understands this…What one should understand here is that the EU does not care about Greece. What they care about is the ability of Greece to repay the debt contracted with German and French private banks, at any human cost. What will eventually happen is either the rise of an extremist party in Greece because people will no longer tolerate the destruction of their lives – by the way, average life expectancy dropped by about 5 years in greece during the last 10 years, just saying – or a mere default on the payment of the debt (and maybe both). If the former happens, we will hear the same ever-moaning EU politicians and media talking about the revival of fascism in Europe, but they will only harvest what they sown…

    • avatar
      Nicolas Solonakis

      Patrik Klingborg From 2011 the growth rate of GDP in Greece is negative. That means the country has been in recession for 6 years now. Annual growth rate varied between -0.2 and -0.7% during the past 5 years. What actually grows in Greece is the poverty rate…Statements like “the economy is growing” are nonsense. What you measure is merely the growth of GDP per capita ( which in any case tells nothing of how this GDP is distributed) and the gross surplus of government income with respect to its expenses. And guess how this surplus is made ? By cutting in health care, pension schemes, social aid; by turning entire parts of the country, including strategic sectors like roads, public companies, harbors…into private hands. That is an entire country being sold out.

      Not only is this outrageously undemocratic, not only is this a severe violation of a country’s sovereingty (with the servile cooperation of some of its élites, I admit) but it is also economic nonsense. When you undermine the purchasing power of the population, you automatically drive aggregate growth downwards, as derives from basic Keynesian theory. And by driving growth rate downwards, you mechanically increase the debt rate. Debt rate (ratio of total stock of debt by GDP) is conversely proportionnal to GDP growth rate and to inflation rate. Hence, EU policies in Greece are total nonsense : they urge the country reduce government spending, which in the very short run reduces the debt rate, but since the drastic reduction of State expenditure combined with the loss in purchasing power of the population drives aggregate consumption and hence GDP growth downwards, it eventually increases the debt rate so as to cancel the initial effect of reduced government spending…Even the IMF understands this…What one should understand here is that the EU does not care about Greece. What they care about is the ability of Greece to repay the debt contracted with German and French private banks, at any human cost. What will eventually happen is either the rise of an extremist party in Greece because people will no longer tolerate the destruction of their lives – by the way, average life expectancy dropped by about 5 years in greece during the last 10 years, just saying – or a mere default on the payment of the debt (and maybe both). If the former happens, we will hear the same ever-moaning EU politicians and media talking about the revival of fascism in Europe, but they will only harvest what they have sown…

  91. avatar
    Dimitris Stamiris

    questions about Germany and Hellas :
    we have all ready pay the dept 6 times (see economics at BBC) but germans have short memory (and big pockets) and they forgot back at 1952 we (Hellas) sign for them to forget germans debt ???

    they forgot at 1954 wen Onasis help them and build many ships in germany (only because we want to help them) they wait for him with Hellenic flags ????

    At 2d world war all coyntries work for nothing for a german army …..
    nobody know that we doing the same now ??

    nobody know that from 2010 wen we do what they want the debt is higher and we pay all the time ??

    nobody know that all german companies at Hellas pay less taxis than hellenic ??

    you raelly think that they dont know that in Hellas we work (wen we have a job) more hrs than they work ?? they dont know that we pay more taxis than anyone in thiw eu ????

    nobody know that they killing us ???

    Also please refresh my memory witch one of you have vote to have germany for boss in eu ???

    • avatar
      Dimitris Stamiris

      witch one of you have vote that the stronger economy make that country boss ???

      think
      if british join euro they will be ritch next morning cause the pound was (still it is) stronger than euro …than why they dint ??? maybe cause the knew that the dream of hitler will be truth those days ???

    • avatar
      Dimitris Stamiris

      how many of you know that germany must pay to Hellas money for 2d war , and that money with all those years interest is the same money as our debt ????

    • avatar
      Dimitris Stamiris

      how many of you know that they ”buy” fron greece 14 airports at the price of one ???
      ((corfu airport every year make the same money))

    • avatar
      Dimitris Stamiris

      how mane of you know that mercedes must pay 1,5 million euro for taxis in Hellas but we forgive it ????

    • avatar
      Dimitris Stamiris

      how many of you know that for the Athens airport german company must pay VAT 1,2 billions euro ……… but we forget that too ?????

    • avatar
      Dimitris Stamiris

      how many of you know that all tv station are germans in all eu so you see anything they want ….they make you vote what they have ”friend” ??????

    • avatar
      Παυλος Χαραλαμπους

      Δημήτρη όντως ο μέσος Γερμανός δεν έχει ιδέα στο λέω λόγο δουλειάς έρχονται στην Ελλάδα και παθαίνουν το σοκ της ζωής τους. ..

    • avatar
      Dimitris Stamiris

      ας τους τα πουμε εδω μεσα ολοι …. εστω απο τον καναπε μας να τους ξυπνησουμε …και οσο για τα αγγλικα μην ανησυχεις φιλε μου . τους βγαζει μεταφραση απο κατω

  92. avatar
    Mauro Scimia

    No. Never, as well as Italy won’t. Europe has to write off the portion exceeding 100% of GDP for both Countries, which used a controlled devaluation before euro era to boost their exports and tourism. The single currency has locked them in, not to mention the exchange rates btn lira and euro.

  93. avatar
    Enric Mestres Girbal

    Unless plants itself and look for new economical sponsors. Greece is in a perfec position to control the East Mediterranean.

    • avatar
      Thanos Ioannidis

      The Greek government cannot even “control” a hot dog kiosk, not the East Mediterranean.

    • avatar
      Enric Mestres Girbal

      I don’t mean Greece but a “good and strong” supporter. China is in and probably Russia should be interested.

  94. avatar
    Filipe Oliveira

    Of course not. They are just being squeezed for profit. But they and others forgave germany for the war debt. That ‘s how Germany pays a good deed. Spitting on the plate they have eaten from

  95. avatar
    Yanni Sfyrides

    Yes , Greece can pay its debts if only there is a big growth of Greek Economy.Then the debt will be easier to be paid with a higher GDP.Of course there will be needed a haircut , smaller interests/ longer period etc. PS We desperately need new investments!!

    • avatar
      Dimitris Stamiris

      how can have a growth economy wen germans demand from greeks to have the highest taxis in all europe ??? witch company will come to greece ???

      thats all one very good plan my friend !!!! one plan to take all the blood from greece only to make germnany ritch

    • avatar
      Yanni Sfyrides

      Dimitris Stamiris Where is it written and who told you that Germans demanded high tax levels in Greece? Where did you see that? The Greek politicians in order to feed the cliental system put high taxes instead of decreasing the public sector (through higher taxes they tried to increase the state revenue instead of decreasing the state expenses as payroll of public sector ).

    • avatar
      Πόπη Παντελάκη

      Yanni Sfyrides Δεν αφήνετε τις αηδίες με το public sector ? ΑΝΑΠΤΥΞΗ χρειάζεται η Ελλάδα ΕΝΕΡΓΕΙΑ ΤΟΥΡΙΣΜΟΣ ΓΕΩΡΓΙΑ – κτηνοτροφία Και οι ηγέτες είναι ζήτουλες με το χέρι απλωμένο για τη δόση γιατί είναι τα τσιράκια των τραπεζιτών

    • avatar
      Dimitris Stamiris

      Yanni Sfyrides
      1ο σταματα να βλεπεις τηλεοραση και ενημερωσου με βαση την εξυπναδα σου …. δειχνεις οτι εχεις
      2ο αν δεν εχεις καταλαβει οι γερμανοι διοικουν την χωρα μας απο το 1 μνημονιο οποτε ολες οι αποφασεις ξεκινουν απο εκει μεσω του καθε προδοτη που εμεις ψηφισαμε με βαση οσα βλεπαμε στην τηλεοραση και εσυ τις ακους (τις αποφασεις) απο τα καναλια που μας κανουν το μυαλο παστιτσιο
      3ο το κακο εχει χρονια πισω την αρχη του … ψαξε γιατι εκλεισε η ιζολα , ψαξε γιατι εφυγε η nissan , ψαξε για την ΕΒΟ και τελος δες απο που ξεκινησαν ολα ….. ποια χωρα εκανε την πρωτη δοκιμη μνημονιου στην ευρωπη και θα καταληξεις στην ανατολικη και δυτικη γερμανια

      4ο οταν σχολιαζεις καποιο ονομα (οπως εμενα) κοιταξε να το κανεις ως απαντηση στα σχολια μου ωστε να σε δω αμεσως …. αλλιως θα νομιζουν οτι δεν σου απαντω

      τελος οταν θα δεις για ποιο λογο θελουν υψηλο ΦΠΑ στα νησια μας τοτε θα καταληξεις οτι το κανουν επειδη εχουν 180 τουριστικες μοναδες στην τουρκια και θελουν να στειλουν τον κοσμο εκει …οταν θα δεις για ποιο λογο η μεγαλες εταιριες πληρωνουν λιγοτερο φορο θα δεις οτι ειναι για το συυμφερον τους και οταν καταλαβεις για ποιο λογο ζητουν να ανεβει ο φορος σε μικρες εταιριες ελληνικης μπιρας τοτε ευολα θα καταλαβεις οτι το κανουν για να πινεις γερμανικη

  96. avatar
    Antonio Usai

    They should probably tax the ships and then they can start recovery. They are a fiscal paradise for the ship transport market and nobody point out that.

    • avatar
      Παυλος Χαραλαμπους

      If Greece is a “shipping paradise ” Cyprus Malta Panama Ecuador and all this small British islands throughout the Atlantic ocean what they are?

    • avatar
      Antonio Usai

      Παυλος Χαραλαμπους The same. I would pose taxes to them too if i could. It’s not a problem of being greek. I don’t have any problem. It’s the fact that my country or any country get busted if they get easy tax treatment for companies.

    • avatar
      Nikos Triantafyllou

      Antonio if you put taxes to the ships the same day they change flag and go in another country.not so easy.

    • avatar
      Antonio Usai

      Nikos Triantafyllou I know that, but still, why my country or any country should be in disadvantage with Greece in that field because you don’t have taxes? Same goes with fiscal paradise like Luxemburg

    • avatar
      Nikos Triantafyllou

      my comment was just a reply to your idea to tax the ships.We do have taxes but obviously the current taxation system needs serious review.

    • avatar
      Stefania Portici

      l’inflazione in condizioni normali cioè di spesa finalizzata alla piena occupazione , è un falso problema . Se ci sta disoccupazione è perchè sono state usate male le leve. La svalutazione della moneta è esterna ,nel cambio con le altre valute ed è determinata dall’ossatura di un Paese . Svalutazione ed inflazione non sono collegate, non sempre. Questo cartone è vecchio ed è usato per spaventare la gente su false paure per giustificare le austerità dell’euro: “PAURA DELL’INFLAZIONE ” o in generale …visto che parla dell’America ” E’ COLPA DEL SIGNORAGGIO ” . Le monete sono o SOVRANE o non SOVRANE …..

    • avatar
      Stefania Portici

      poi ultimamente sono usciti fuori i sistemi Blockchain, Bitcoin o Ethereum che hanno attirato i vampiri della finanza ( e ci sta pure la Banca d’Inghilterra ….eh eh apposta ci fai vedere il cartone ) che sono ancora peggio….

    • avatar
      Stefania Portici

      Ivan Burrows su certe cose siamo daccordo ma su molte altre no. Voi siete usciti ma dentro l’euro non ci siete mai stati e neanche dentro ad alcuni trattati., non potete capire. Sopra parlavo di economia . L’Inghilterra è sempre un passo avanti ( di furbizia ) . Sai, la furbizia non è un pregio quando è usata per fregare gli altri

  97. avatar
    Nando Aidos

    The debt/the loans were not designed to be paid by Greece.
    They were designed to produce financial interest, lots of interest, and subservience!

  98. avatar
    Μιχάλης Ιακωβίδης

    No, unless if the creditors move to a brave hair cut. There is no hope without that strategy. 170% is the percentage of the greek debt right now. Stop bullshiting us! The alternative solution is… Revolution!

  99. avatar
    Chris Pavlides

    Κάποιοι έδωσαν το μεγαλύτερο “δάνειο” στην ιστορία σε ένα κράτος μόνο 10 εκατομμυρίων μυρμηγκιών +3-4 other Balkan. Τους οποίους αφού τους ξεγύμνωσαν παραγωγικά, τους έκλεψαν τα αποθεματικά γενεών, τους φτωχοποίησαν βίαια και ξεκίνησαν να τους ξεφωνίζουν ως τεμπέληδες, απατεώνες που ζούσαν πάνω από τις δυνατότητες τους. Παράλληλα έτρεξαν ένα οικονομικό έγκλημα που οδήγησε σε ένα απίστευτο brain drain και ένα δημογραφικό έγκλημα δεδομένου ότι το birth rate έφτασε το 0.65% όταν χρειάζεται μια κοινωνία 2,1% τουλάχιστον για να επιβιώσει. Να μην αναφερθώ και στο ξεφόρτωμα άπειρων non skilled εισβολέων “μεταναστών” που ξαφνικά έπρεπε να φροντίσουν καλύτερα από τον ντόπιο άτυχο πληθυσμό. Πως και γιατί δανείζει κάποιος πολλά σε κάποιον “αφερέγγυο” και πως περιμένει να εισπράξει όταν ζητά να κοπούν τα χέρια και τα πόδια του δανειολήπτη ? Μήπως όλα αυτά τα καταπληκτικά συμβαίνουν για άλλους λόγους ???

    • avatar
      Πόπη Παντελάκη

      Exactly Everything is going on for other reasonw Chris Pavlidis …….the sionists Know Kissinger Rotchild and the rest………..

    • avatar
      Chris Pavlides

      Well, seems they all do their job. Its about time to do our own. Leaving losers mentality behind could be a good start.

  100. avatar
    Γεώργιος Δανιηλίδης

    4th M.O.U. imposed by cruel EC-IMF-ECB-ESM quartet with NEW killing cuts on low incomes of at least.It was voted ONLY by a government of 10% approval IN ORDER TO STAY IN POWER.Greece is paying its debts full with heavy interst and in due time.Other EU countries pay practically zero interest and get even new loans.

  101. avatar
    Jude De Froissard

    How and why…. everything was sold to pay this debt that was in fact created to destroy a country…greece should boycott everything erything related to the Olympic games in retaliation to what was and is done to this beautiful country and people.

  102. avatar
    Spiros Proselentis

    It doesnt exist debt …Germany only for the crimes of 2nd world war…must only pay…at Distomo they murdered everyone even infants…and not only there…they are barbarians..they never changed…they are still criminals this time financial criminals…!!!!

  103. avatar
    Rosy Forlenza

    no i doubt it, which is why this is such a blemish on the EU’s record and reputation for being a respector of human rights. Do I get paid loadsamoney for the following reality check: greece is in the euro, bad for greece and euro if greece leaves and defaults; greek debt/austerity must come to an end; helping greece to restructure its tax systems with oversight from the troika would be more useful than a never ending austerity ,which is not just making the greeks angry, it is actually making the rest of us quite angry too.

  104. avatar
    Nadia Dereguardati

    you speak about debt without explaining which debt, how they create that debt .. etc etc .. beware, many debts are created from nothing!

  105. avatar
    Europe Today

    No they won’t pay back the debts. And you know why? Because they can’t. Schäuble knew this from the beginning and now his plan is fulfilled.

    • avatar
      Kostas Papakonstantinos

      hi friend all the money goes to banks who now give loans to big company’s mostly from germany and with this loans that we strongly believe they do not plan to pay back ever this company’s buy our national airports, our national electric company in pieces our national telephone company and lots of national buildings and other national treasure ports etc . so all countrys who pay they actualy supported international gangsters and greek people pays back now this money in taxes that never receive in the first place so please think again who owns to who

    • avatar
      Franco Farrugia

      Hello friend. So let’s put it this way. I paid taxes like probably you do and my country (Malta) gave money to Greece to bail it out. Are you telling me that my taxes are waisted and my hard earned tax money is some where that no one knows? Why does Greece needs to bail out in the first place and not able to have a better economy ? Maybe Corruption and maybe Greeks themselves not paying taxes to support their welfare ?

    • avatar
      Katerina Mpakirtzi

      Boys of goldman sacks are our borrows not you. They play bad business games in our place. No we pay double our loans that we didnt knew about them…

    • avatar
      Franco Farrugia

      Wrong Katerina because my country did pay a contribution. Do you want me to give you the evidence too?

    • avatar
      Foti Christodoulou

      Franko correct. We are telling you exactly this. This measures are not meant to ensure that we will pay but exactly the opposite. If you take from a barber the tools of his work then he will never work to find the money to pay you. If you ask my country to tax everything then nobody will invest to my country the jobs will stop the money of the tax payers will end and we will be unable to pay back. what is next? When our money run out you will take our kidneys?

    • avatar
      Despoina Kalogirou

      Basically your money goes straight to the German and the French banks in order to reform them and keep them going ; 95% of the “bailout ” money never reached the Greek people in the first place nor were they used for infrastructures or the improvement of the state . So yeah , your money goes to the banks , not the greek ones , not the people.

    • avatar
      Franco Farrugia

      Dear Despoina where did the rest of the money go? And is it fair on others who lent Greeks money if they end up never getting money back? Can you proof any claims you are making especially the 95%

    • avatar
      Despoina Kalogirou

      Let’s make something clear; your money is currently being absorbed by the German and the French banks . The only reason they are still standing is because they are using Greece as a ” surrogate ” . My argument can be verified by a simple Google search. Christine Lagarde herself admitted that the debt is “non viable ” therefore the IMF will not remain in the bailout program if Germany doesn’t agree to a debt relief; why is that neccesary, you may wonder . Well , without a debt relief the economy will never recover. This is something Germany and IMF were aware of yet kept on pushing and extorting Greece to sign memorandums with the claims that this is the only way to recover. ” hell is paved with good intentions ” I would add and it is evident in our case. Your money never reached the Greeks in the first place .

      They have succeeded in creating the stereotype of the “lazy Greek ” that does nothing but spent the money of the good hard working European citizens; the truth is ( and this is something you yourself would be able to verify with one simple visit to Greece ) that the unemployment among the youth is 49% and still rising ; young adults with degrees work full time without even getting paid or If they’re lucky enough they get 300€ per month. The hospitals and schools are under stuffed because the government can not afford more employees . People lose their houses every single day . Whole families being thrown out in the streets .

      I admit that we have had corrupted politicians but so has every country in the world ; that doesn’t mean that we deserve to burn in this hell every single day for a whole god damn century .

    • avatar
      Despoina Kalogirou

      Let’s make something clear; your money is currently being absorbed by the German and the French banks . The only reason they are still standing is because they are using Greece as a ” surrogate ” . My argument can be verified by a simple Google search. Christine Lagarde herself admitted that the debt is “non viable ” therefore the IMF will not remain in the bailout program if Germany doesn’t agree to a debt relief; why is that neccesary, you may wonder . Well , without a debt relief the economy will never recover. This is something Germany and IMF were aware of yet kept on pushing and extorting Greece to sign memorandums with the claims that this is the only way to recover. ” hell is paved with good intentions ” I would add and it is evident in our case. Your money never reached the Greeks in the first place .

      They have succeeded in creating the stereotype of the “lazy Greek ” that does nothing but spend the money of the good hard working European citizens; the truth is ( and this is something you yourself would be able to verify with one simple visit to Greece ) that the unemployment among the youth is 49% and still rising ; young adults with degrees work full time without even getting paid or If they’re lucky enough they get 300€ per month. The hospitals and schools are under stuffed because the government can not afford more employees . People lose their houses every single day . Whole families being thrown out in the streets .

      I admit that we have had corrupted politicians but so has every country in the world ; that doesn’t mean that we deserve to burn in this hell every single day for a whole god damn century .

  106. avatar
    Savas Ozyurt

    What will happen to all of those Greeks who left Greece because they did not want to share the burden of their fellow Greeks and went to live in places like London? Do they get to keep all of the money they stole from Greek coffers?

    • avatar
      Πόπη Παντελάκη

      Mr Ozyurt the Greeks who left from Greece are the young scientists who could not find a job here 500000 ( a whole city !!!!) in a population of 11.000.000 only The ones who deposited huge sums of money in the banks of Switzerland are some criminal politicians or businessmen

    • avatar
      Savas Ozyurt

      We know that, person with unreadable name. We already know that. What you are now confirming again is that Greece (and its people) failed in getting their act right, and creating a “normal” society where power isn’t in the hands of a few and that you’ve failed in keeping those people with money, with knowledge in your own country, and that led to the problems you have right now. You can’t even get out of this situation, not in a thousand years.

  107. avatar
    Katerina Mpakirtzi

    We pay daily with our lifes. But a court to all these…business men of banks put them in their responsabilities too…

  108. avatar
    Luis García

    The London Agreement on German External Debts, also known as the London Debt Agreement (German: Londoner Schuldenabkommen), was a debt relief treaty between the Federal Republic of Germany and creditor nations. The Agreement was signed in London on February 27, 1953, and came into force on September 16, 1953.

  109. avatar
    Πόπη Παντελάκη

    It is a fraud debt Germans owe to Greece and to the whole of Europe that they destroyed during World War We Greeks should exit this E.U IMMEDIATELY but our leaders are ridiculous appointed from Brussels

    • avatar
      Ionas Vallianos

      apolita kathisterimeno comment xwris logikh seira skepshs h epixeirimatologias

  110. avatar
    Christos Boras

    In only 10 years of euro-zone we had winners and losers in the common currency and market. 17 years after we have also a state leaving the 3 gears ”unified” Europe.
    We are sharing ownership in Europe. If Europe has owners and vassals then its not a Union.

  111. avatar
    Haris Grigoridis

    The debt will be payed only if they go to jail ALL the members of the greek parliament from the last 30 years

  112. avatar
    Theo Jordanidou

    Greece is bankrupt for years now. Not admitting it, and lending more fuckin IMF money will make it worse. If the EU won’t face it and wikl pretend like everything’s gonna be all right, it will also just maje things worse…

    • avatar
      Thanos Ioannidis

      I know. Λέμε και καμμιά μαλακία να περάσει η ώρα. (στηρίζω Diem παρ’όλα αυτά)

  113. avatar
    Ricardo Garcia Pereira

    Did Germany pay off its debts after WWII?!

    No. They were forgiven in 65%… that allowed Germany to develop whitout being hostage of a unpayable debt.

    Actually Germany still has to pay Greece several thousants milions due to WWII.

    Learn with history.

  114. avatar
    Chris Panayis

    The loans are not used for the betterment of the economy or the citizens, but to repay older debts. The Greek debt increased so much in the last 5 years that every citizen should get a salary paid to him every month without doing anything. By getting those loans the debt incr ashes, internal taxes increase, companies move abroad, and citizens either live in poverty or emigrate elsewhere

  115. avatar
    Stefania Portici

    gli africani hanno questo mito. Glielo avete ucciso ma loro continuano a ricordare le sue idee. Questo successe in Africa DOPO LE GUERRE MONDIALI ma il sistema che usano è sempre questo ,da tutte le parti. Facciamo i nomi !? Sono sempre gli stessi . https://youtu.be/KmXj3slmSdo

  116. avatar
    Ines Kyiv

    If the life in EU is so bad, why Greece is still there ? )) Why Greece doing nothing to overcome corruption in their country ?

  117. avatar
    Hamilton Schutz

    Greece was before Christianity began, before the Roman Empire too. All of that was robbed from Greece. When does the world pay that back? To be Half Greek today.. I never knew vascilius xanelicouilious but I have always been proud & felt deep deep things about the world just run in my veins.

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