Greece ... Thank You

[Agent 47]

Excellent breakdown of the Greece debt issue and where the billions have gone here

 

[Gerry Canning]

50B is the amount they've been asked to sell. The value of Greek government assets would be in the hundreds of billions - maybe more than a trillion. Parks, land, buildings, military assets, state owned businesses - it's a big country.

So if you want to compare them with a mortgage holder it'd be more like someone with a million euro in assets, 100,000 in interest only debt and maybe an income of 25,000.

If Greece want to say their debt is unsustainable then sell some assets and make it more sustainable, looking for more cash and simultaneous write downs from the same creditors is not a sensible or fair strategy.

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Hmn ! like the way we sell some Nama assets ?
Seems to me fire sales are not the way to go, the winners seem to be the vultures and the amount got only dents the debt.

I have some sympathy with the view that wanting write down + more money is not on the face of it fair.
But then do Europe support Greece or let them hang?

Surely Ireland was not/is not a million miles away from a Greece?I do not think we will ever in real terms repay our nominated debt.
I have the feeling that had Greece not played (silly buggers) and made a realistic attempt at changes, Mrs Merkel etc would have been more understanding.