Eurozone approves new $173B bailout for Greece

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Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including ?130 billion ($173 billion) in new financing.

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The deal satisfies some. This guy writing in Forbes says the deal is farcical. How can you improve the debt to GDP ratio when what you are doing is going to kill the GDP. Besides, all that's really happening is that the creditors are basically just cutting a loan to themselves just to make things look solvent.

Either way it may all be moot as Greece may be scheduled to default in late March anyway. After working things to make their own accounts look OK they may just go ahead and pull the plug - think of it as international foreclosure.
 
FluffyMcDeath said:
How can you improve the debt to GDP ratio when what you are doing is going to kill the GDP.
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The Greeks do a superb job of killing their own GDP


Antonopoulos and his partners spent hours collecting papers from tax offices, the Athens Chamber of Commerce and Industry, the municipal service where the company is based, the health inspector’s office, the fire department and banks. At the health department, they were told that all the shareholders of the company would have to provide chest X-rays, and, in the most surreal demand of all, stool samples.
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FluffyMcDeath said:
Probably true. The Greeks pour into the streets and bust things up. The Americans will just fold and take.
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sadly, u are correct... but i also think we're gonna start dying in large quantities right in front of god and everybody....
 
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