Re:Behind Germany’s refusal to grant Greece debt relief
by vidarh on Saturday July 11, 2015 @09:10PM
(#9872191)
They have restructured substantially. Enough so that they were on track for a substantial primary surplus. There's much more to do, but the primary problem for the last year has been managing the crushing debt load, not the Greek government.
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Re:Behind Germany’s refusal to grant Greece debt relief
by anabis on Saturday July 11, 2015 @09:38PM
(#9872279)
There are different opinions on restructuring being enough.
Still not having a land registry after starting in 1994 gives me a pause.
Re:Behind Germany’s refusal to grant Greece debt relief
by igravious on Saturday July 11, 2015 @09:24PM
(#9872244)
Agreed, they still need debt restructuring. Also the €zone framework needs simultaneous reconstructing, to route surpluses to places not doing so well. But that would be the beginnings of a real federal EU and European countries are too nationalistic for that which is a shame because Europe is going to fade into relative obscurity economically unless we can make this transition. Though perhaps this crisis presents the opportunity to kick-start that process, but it's a long shot, I'm pessimistic even though I do not want to be.