Re:Why was the Zimmerman Telegram so important?
by pif on Tuesday January 17, 2017 @11:03AM
(#13418602)
That referendum was stupid. Once you have debt, you have to repay it. Had they asked people how they preferred to pay it back, that would have been smarter. But just asking whether they accept a particular plan, without committing at the same time to an alternative plan... I find it ridiculous.
Re:Why was the Zimmerman Telegram so important?
by cinquemb on Tuesday January 17, 2017 @11:15AM
(#13418710)
>…Once you have debt, you have to repay it…
Or default, wouldn't have been the first sovereign default on debt "obligations"…
>I find it ridiculous.
Be that as it may, kicking the can down the road and doing more of the same is often a great long term solution.
But its ok, they "accepted" larger haircuts than originally proposed:
"On Monday, 13 July, the Syriza-led government of Greece accepted a bailout package that contains larger pension cuts and tax increases than the one rejected by Greek voters in the referendum."
"As a result of the referendum, the bailout conditions were rejected by a majority of over 61% to 39% approving, with the "No" vote winning in all of Greece's regions."[0]
"Further, the European Commission signaled that the referendum question, to which they would recommend a "Yes", from its viewpoint should be understood as whether or not Greece wanted to remain part of Europe and the Eurozone, which at the present state included acceptance of receiving conditional bailout help on a set of mutually negotiated and agreed terms."[0]
I think it would be more accurate to say that the political and economic leadership operating within greece didn't have an appetite for it.
[0] https://en.wikipedia.org/wiki/Greek_bailout_referendum,_2015