Do you believe the EU and IMF can help Greece out of financial crisis?
Jul 4, 2011 02:39
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The finance chiefs from 17 Euro nations gathered together and finally agreed to distribute 12 billion euros to Greece as the fifth installment of last year’s 110 billion euros bailout. The EU will take out 8.7 billion euros and the IMF will burden the rest of 3.3 billion euros. The Greece will receive the money before July 15. On July 11, the EU finance chiefs will discuss the second rescue for Greece.

Do you think that the EU and IMF can help Greece out?
Jul 6, 2011 21:01
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Absolutely nothing will stop Greece from defaulting on it's debt. The Greek government continue to spend more than they receive in tax revenues and the latest austerity plan will be an utter failure. It's simply a matter of time.
Jul 10, 2011 01:20
GUEST3477 I realy hope that Greece will recover from this recession. But the help from the EU and the IMF is limited.
Jul 10, 2011 21:52
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The only way Greece can recover is by defaulting on it's debt. Without default the interest bill on the loan will far exceed tax revenues and austerity savings.
Jul 13, 2011 04:51
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Isn´t it funny that when a country takes a loan with cheep interest and then someone finds out that the country is almost broke so the interest is increased?

Does a dead-tired horse run faster if it is beaten with a thicker stick?

There is no way for Greece to recover any more.

Jul 17, 2011 00:01
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Portugal is also "dead-tired" but is being forced to run faster through increased bond intererst rate. Spain can barely keep up but more lead is being demanded for her saddlebags. Ireland fell at the last hurdle and will soon be mercifully euthanised. Italy lost her rider and will not finish the race.

Offficial results: A photo finish between Germany and France. However a protest has been lodged by the IMF and the race has been declared null and void. No winners. Everyone lost. The EU has been banned from further involvement due to race fixing.
Last edited by BOBERT: Jul 17, 2011 00:03
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