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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (213960)	1/6/2013 2:03:18 AM
From: bentway	Read Replies (1) \| Respond to of 541743

"Do you think the bond holders of Greek debt should go home empty handed?" Yes, for loaning GREEKS money!

To: Steve Lokness who wrote (213960)	1/6/2013 10:51:18 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 541743

Greece's problem is Greece The first time Greece issued debt was February 21, 1824, when it sold bonds yielding 5%. Those 1824 bonds paid just 5 installments before the nation defaulted in July, 1827. Since then, Greece has made a habit of applying for loans and taking on even more debt. Political leaders often throw around the word “unprecedented” and play down the country’s debt issues. However in reality, history is indeed repeating itself. Putting things into perspective, Greece has been in default approximately 150 of the last 200 years, with sovereign debt being the biggie. Can Greece eventually overcome its debt-ridden troubles? Can its people stay optimistic or will more banners be strung across buildings in another year’s time? "We are NOT practicing keynesian economics! " Nope. That's a pity. we should try it sometime. "Do you think the bond holders of Greek debt should go home empty handed?" They deserve it.