Greeks vote “NO” – with them meaning “YES, MORE” – more money, more free money (debt relief), more freedom (to continue to use others money to live beyond their means).
When Is Enough, Enough Aready?
THE GREEKS HAVE ALREADY RECEIVED A GIFT – NOT LOANS TO REPAY – OF € 227 BILLION EUROS. If the EU help sthem now, again, it would increase the GIFT TO € 247 – 257 BILLION EUROS.
AND THERE IS AN ADDITIONAL GIFT coming of an additional some € 110 BILLION EUROS.
TOTAL GIFT TO GREECE: € 357 – 367 BILLION EUROS.
TOTAL GIFT TO EACH GREEK (10.75 million): € 34,000 !!
Some € 210 billion euros in debt which the Greeks couldn’t pay was wracked up by 2010. They got a bailout from their partners in the EU. The Greeks still couldn’t pay.
So in 2012 they got a GIFT of some € 107 BILLION EUROS – the lenders gave up some 60 % of the debt – in order to get something. New bonds – that now – are not worth anything. Some Greek gift in return.
The Greeks still couldn’t pay. And they got more bailout from their partners. Now to the tune of some € 240 billion euros.
The Greeks still couldn’t pay. So, like Pavlov’s dog, they wanted a GIFT like they got before.
And they got it – the bailout debt was “reformulated” to be a GIFT without calling it a gift.
This second GIFT is some € 120 BILLION EUROS. (London banks calculate the EU loan amount to be returned at only 40% or less of the original amount.)
So, the Greeks still couldn’t pay. So they played instead. They issued debt pieces not worth the paper they’re printed on. And then they also got their EU partners to let them suckle another teat, the ECB, and they got an additional some € 110 billion euros.
Still Not Enough, Greece Demands More !
Now, Greece demanded € 39 billion euros more. The IMF calculates that they need at least € 50 billion euros more.
If that good money after bad runs true to the Greek course, Greece will get another gift of between 40 and 60% of that € 50 billion as well – or an additional GIFT of € 20 – 30 billion euros more.
So that would be total gift of € 357 – 367 billion euros.
Now the Greeks say “NO”, meaning they refuse to pay and they want the GIFT they got before – again.
SO A € 367 BILLION EURO GIFT does not do it for the Greeks’ sense dignity.
Well, if their partners had any sense they’d remember –
“He is ungrateful who denies that he has received a kindness given to him; he is ungrateful who conceals it; he is ungrateful who makes no return for it; most ungrateful of all is he who forgets it.” Seneca
And then they’d know –
“What, wouldst thou have a serpent sting thee twice?” Shakespeare, Merchant of Venice