Re:Greeks Reject Bailout Terms
by JumpCrisscross on Sunday July 05, 2015 @05:54PM
(#9835198)
> Your money went mainly to your Banks, via Greece.
Suppose you have a €500 credit card bill. That bill represents euros you have spent (plus interest). If I pay that bill for you it frees €500, which would have previously serviced debt, for other things. It would be disingenuous to say "I gave the money to the bank, so it only helped them and not you."
French and German banks did get bailed out of their bad credit decisions. But Greece gained substantially from its borrowings in the short-run.
> blow the Euro
The financial markets are not convinced that a Grexit would harm Europe significantly [1]. In the long-run, the union may actually be strengthened.
Re:Greeks Reject Bailout Terms
by JonoW on Monday July 06, 2015 @11:45AM
(#9839919)
At a better interest rate, with a haircut to the original debt and saving you from defaulting on that original debt (by delaying payment deadlines). So yes, there is a benefit to you
Suppose you have a €500 credit card bill. That bill represents euros you have spent (plus interest). If I pay that bill for you it frees €500, which would have previously serviced debt, for other things. It would be disingenuous to say "I gave the money to the bank, so it only helped them and not you."
French and German banks did get bailed out of their bad credit decisions. But Greece gained substantially from its borrowings in the short-run.
> blow the Euro
The financial markets are not convinced that a Grexit would harm Europe significantly [1]. In the long-run, the union may actually be strengthened.
[1] http://www.businessinsider.com/deutsche-bank-greece-contagio...