Was the Greek financial crisis handled correctly?

Was the Greek financial crisis handled correctly?

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Pay debt, proxy fag.

You know, of all the dis-likeable Western countries, even Canada, I hate you the most. History should have taken mercy upon you, Germany and wiped you out.

Greece isn't a country. EU is. It was an EU crisis.
Is the EU handling it correctly? No, Greece is still underperforming economically.

In your opinion, what should we have done differently?

Mass land invasion and brutal takeover of England while you actually had balls and were fighting a good fight.

Ethnic cleansing and replace all browns with people that are willing to work.

but Greeks are hardworking and trustworthy

...

Greeks should've either:
>deregulated the economy drastically and not vote in commies
>default on all public debt and go back on the drahma

nope
both sides makes big mistake

All sovereign debts should be cancelled. FUCK the banks. FUCK the jews. FUCK the parasites.

no

>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to child
>child breaks the hamster's neck and laughs
>"oh no poor baby, maybe if we give him another hamster he will take care of it properly"
>give small hamster to chil

Do you have any savings? Imagine you go to your bank and they say "sorry, your savings are gone, we had to cancle Greek debt"

Maybe they shouldn't have been lending to failing governments then.

Then people would riot and the EU would crash.

>ohno.jpg

It has definitely not worked for Greeks. We can say this and that about the current situation, but the fact remains that our young people can't find good jobs, business owners are taxed to death, and our brain drain has become worse than it already was.

When the worst will have passed, it is going to be hilarious watching the retards or inexperienced that remain here try to build the country back uo.

So, what was the plan exactly?

It was handled in literally the worst way possible, causing Greece to lose a decade. Austerity is a meme, the real deal would be to fight corruption and waste and rationalize public spending, micro manage taxation and cut some silly public programs. Of course that's too difficult, better to have an imposed goodforall program

No.

They will eventually default.

The euro should have had never happened. Worst French idea in a while.
I wish Mitterrand would have had sold his yes to German unification for something else.

How, in your opinion, should the Greek debt crisis have been handled?

>the real deal would be to fight corruption and waste and rationalize public spending, micro manage taxation and cut some silly public programs.
I agree, but Greece is a sovereign country, they must do it by themselves. Germany or EU have no authority in those matters

PAY your FUCKING debts

No, both sides (greek government) and the EU fucked up.

Greek government didn't want to shrink public spending by much and fire enough public workers, so they fixed the deficit by increasing taxes

EU knew this was going on and that it would destroy the economy but kept insisting on higher taxes so that our economy bombs even harder and our companies leave the country (which is what happened).

Ultimately this wouldn't happen if our leaders (and voters) weren't complete sissies, told the EU to fuck off and implemented pro-market measures. So I don't really blame Germany for this, they smelt blood and went for the kill.

Συβταξιουχοι, ξενοι kαι kομματιkοι στρατοι θα εχουν μεινει μονο.

>So, what was the plan exactly?
Debt slavery, flow of human capital to ruling states and finally erosion of national sovereignty when the globalists are ready to make their move.

But what should the EU or Germany have done differently?

>Giving a dying animal food
>Not just killing it and distributing the meat to the homeless

Precisely what is happening. Broken nations are easy to make into slaves

Yet they had enough autority to impose arbitrary austerity measures, and enough autority to ask Greece to reach certain parameters for debt and what not.
If you can do that, and if a country is going down the shitter, you might as well do something more rational.
Austerity was an economic dogma, no more no less. Look where it has brought Europe, then compare our situation to America's

no , and my country is bankrupt with huge debt since 10 yo ago , hombre ya

>rationalize public spending
>cut some silly public programs
arent those austerity measures?

Bad for Greece, good for everyone else. Letting Greece spend all the money and then cancelling the debt would be a message to every other euro country that the EU is just something to drain money out of until it collapses.

they should have immediately cancelled greece's debt and released them from the monetary union and introduced measures to let go of italy, portugal and spain too

Literally the only way for Greece to be fixed is if G*rmans occupy it for the next 100 years, and rebuild it from scratch

>They always forget about Ireland
*rubs hands*

No, Germancuck
We hate you all.
Fuck off Europe killers
Go back to being raped by niggers in the name of tolerance and multiculturalism

Tell them no gibs unless they do it. They die or you make a good investment. Monthly payments and the moment they fuck up you stop the gibs.

Germany doesnt have the political will anymore to invade and occupy other countries.
I am sorry but you must fix the problem yourself

>implying not paying back the jewish bankers is not the ultimate redpill

No. Read Yanis Varoufakis's commentary. The most notable bit to me being when he brought up the importance of sovereignty in a discussion and the thought was so alien to the Brussels bureaucrats that they quite literally had no response, and acting as if he had said nothing.

That is literally, unironically what we are doing

ireland isn't so bad, you just need to stop being a tax haven for american corporations

If they wanted to help us, they should cut payments until we introduced more pro-business reforms, cut regulations, etc.

While we could afford to pay all loan repayments, it was because we increased taxes, not because we grew our economy. This worked for a while but it can't work forever, the greek populace has already paid everything it can in taxes, more taxes (like the EU asks) is overkill and impossible.

Basically, if Greece was a cancer patient, the EU was a shitty doctor.

Well Greece is already Germany's puppet you might as well invade at this point

Greece should have had defaulted when the crisis became apparent and have reintroduced their own currency.

Never!

Except the last part, the only important part.
WHEN THEY FUCK UP YOU STOP THE GIBS

For whom? Goldman Sachs probably thinks it was a good deal.

From a certain perspective.

The Euro needs to be maintained as long as possible, it's an essential tool for destroying national sovereignty and furthering white genocide. So there needed to be a careful balance of forcing enough pain on the Greeks to scare other pigs to keep some spending discipline but not enough to make the Greeks get out. So far it worked.

Nations should never share a currency in the first place so the entire thing has been handled terribly from the start.

Greece is a lost cause. A black hole. The government is and has always been the most corrupt government in modern history.

>If they wanted to help us, they should cut payments until we introduced more pro-business reforms, cut regulations, etc.
Isn't that what happend. We offered you generous loans, which are bound to conditions like reducing the public sector, privatization, enforcing taxes and so on?

The loans we give to them are bound to conditions

There's austerity and austerity. By rationalizing public spending one could shuffle resources into other programs that do produce economic growth. Once you enact austerity measures but the economy fails to improve, youth unemployment keeps rising, people live the country, factories have to close down, then mayhaps it's the time to rethink your policies. We did not, and kept our autistic demands on Greece. If something does not work trying and trying does not produce better results by some force of magic.

No one is advocating that Greece should have been allowed to just default. But trying to repay a debt while your economy is in free fall is retarded. FIRST get things moving in the right direction, then slowly start the repaying process. A bit of inflation and devaluation would have helped, but in the EU we have to forfeit an indipendent monetary policy.

Of course, if (((one's))) interest is just getting money back with no regards to economic health or anything else, then yes. Just raise taxes and keep battering the middle class.

>when they fuck up
We never really fucked up from Germany's prespective though. We only missed a single payment back in 2015 with the referendum, and we paid it back later.

If you still think that "omg le evil greeks are taking advantage of the germans" you're pretty delusional.

No.
Every non-EU affiliated economist agreed that the austerity programme was the worst thing we could do to "save" the greek economy.

Instead the EU used Greece as an example. They were able to show the rest of the union: We will get what we want, however we want it.

Best-case scenario was to return to the drachme, devaluate the coin and start exporting.

A good EU scenario was to not use an austerity progamme but to ensure debt relief when several objectives (for example: debt to gdp less than 2.5%) were reached.

Why was/is an austerity prog. a bad thing for greece. They don't really have an export-based economy as opposed to Spain and Italy. They could have one if they could devaluate their coin but this is not possible. Therefore it is insane to presume that you can make an economy grow by taking away such a portion of their income (purchasing power)

Let me describe my day today to give you the redpill you on Greece Sup Forums

>go to oculist
>after we're done he tells me I have to pay 70 euros if I want a receipt or 50 without a receipt
>of course I pick 50
>leave
>go and eat souvlaki
>I pay
>he gives me no receipt
>I take a cab to go home
>he gives me no receipt
Gee, I wonder why we're so fucked

(((Germany))) and (((((((IMF)))))))) will never get their money back from Greece.
They got too greedy with the loans.

>what should we have done differently?
You should have been less greedy with the EU expansion project, you swallowed more than you could handle.

Conditions that are violated. And yet you give even more.

>Read Yanis Varoufakis's commentary

youtube.com/watch?v=7O0OJ_VZJok

digits confirm!

> into other programs that do produce economic growth
So which programs would you suggest?

They can't stop.

The EU depends on them salvaging greece, I don't know if you are familiar with the mechanism that started the greek crisis, but the solution was to pass the cost to the EU to avoid a collapse of the debt system and the world bank.

Auta ginounte akoma? Kala sas kanoune kai sas anagazoune na plironete me pistotikh. Apo kapou prepei na ksekinisi. Kai oxi apo neous forous stin DEH ktlp. Apo apla proionta. Afou den plironei kaneis ma kaneis.
Malaka apla pos ston dialo zhte stin ellada? H benzini einai sto diastima, to supermarket einai kuriolektika 2 fores pio akribo apo tin germania, mporei kai 2.5 fores sta IDIA products opos feta dodonh. Einai ola toso panakriba sthn ellada epidh ftasane sto amin ta panta.

>A good EU scenario was to not use an austerity progamme but to ensure debt relief when several objectives (for example: debt to gdp less than 2.5%) were reached.
But Greek bans were to collaps without an immidiate help from the EU. Greece couldn't just wait for debt relief for years, EU had to act immediatelly

The size of their government needed to be reduced massively. That has always required a massive amount of pain to be inflicted first.

In the old pre-Euro days that would have been inflationary pain. In the post Euro days only internal deflation and threats can bring the necessary pain.

>We offered you generous loans, which are bound to conditions like reducing the public sector, privatization, enforcing taxes and so on?

Only in theory. Market reforms were never actually a big part of the discussion because if they were actually implemented there would be potential for Greece. And this is pretty evident by the fact that negotiations between the greek government and the EU almost always revolve around tax increases and pension cuts.

So it becomes pretty obvious that if the EU was actually interested about helping Greece, they would stop giving us loans because free market reforms were moving at a snail's pace. But the EU is only interested in getting it's money back, which is fine by me. I don't expect them to save us.

I am completely familiar. And this is wholly intentional. Destroy the productive countries while not saving the leeches. It's a rather beautiful strategy.

They were close to a collapse because we wanted the money back

Literally how? I got paid 400€ per month, of course unregistered, from those 400€, you pay the rent 180€ go to a supermarket, buy one cheese, one bread and one milk for 50€ and you are left with nothing.
How in the name of fuck can people live there? Savings from bribery back in the pasok days? Your parents's old age pension? How do you even have money for souvlaki?

Δεν ξέρω πως μπορεί να αλλάξει η νοοτροπία του δεν kόβω απόδειξη kαι στα αρχίδια μου, ειδιkά όταν βάζεις στον άλλο υψηλούς φόρους αναγkάζοντάς τον να το συνεχίζει. Έλα να μας φτιάξεις, φαμ

I can't tell you what could have worked politically, I am just an engineer.

But a sustainable long-term solution should involve motivating (and allowing) our young people to stay here and work hard. This is exactly what has not happened. Rather the opposite.

The problem was that Greek banks simply had no money left.
Do you remember the week when Greek citizens couldn't take more than 200€ or something from bank per day?

But as far as I am aware, Greece has no industry.
So far, most people were either employed in tourism or in the public sector, which was uneffective and overbloated and kept artificially alive with borrowing more and more money

Then you can live free in the rich danish mountain

Have a (You) because everyone itt is too butthurt to check quads

I think the problem is that EU simply doesn't have the authority to solve Greeks problem by its own, Greece is a souvereign country, after all.

Working as intended. Uprooting the young from their nations serves white genocide.

That was different.

Capital controls were instituted back in 2015, shortly after Tsipras announced the referendum. People went nuts and flooded the banks to take their money away because Tsipras was a retard. If Capital controls weren't put in place we would completely run out of money in a week.

Then we needed a loan because Tsipras fucked up massively.

It's autism all the way down

Normally a coutry would print money (aka devaluate)
But their central bank aka THE ECB JEW didn't let them

If all our debts were cancelled today, we'd be in debt tomorrow

Mou stelnei o aderfos mou eikona apo tin DEH, to ti prepei na plirosei. Gia 4 mhnes, 120€ to reuma, kai alla 300€, triakosia euro, kati neous forus. Kai lew twra egw, pios ston poutso exei 420€ na ta plirosi? Ok emeis ton steilame xrhmata, no big deal m8, alla eseis? Pos mporei o aplos ellhnas na antapekserthi? Sobara rotaw thelw na mathw.
Einai apla ta pramata. Na stamatisoune na forologoune ta panta les kai bgazoune ta atoma stin ellada 3000 to mhna, kai na sas anagkasoune na plironete me pistotikes na fenounte ta panta. Dustixos etsi prepei na ginei.

The world has gone to ruins
I must explain how the jew banks killed of a country to a german who refuses to believe this.

Your grandfather and his father would weep if they saw you

not really because we have a surplus currently

People are not stupid, you know. If Greece still had Drachmen and started printing money, every Greek would exchange his Drachmen to Euro and the Greece currency would become worthless overnight

>Iran only 56%
??

>how the jew banks killed of a country
Greece was already dead, we deserved what we got because we voted in filthy socialists in 1981, who killed off our industry and increased spending massively.

Your nation was a pawn in a game between my country and the USSR.

Greece was a guinea pig for a lot of things.

yep that's why Varoufakis started buying gold to back the drachme.

Εγώ ευτυχώς μένω σε φοιτητιkή εστία kαι τρώω τζάμπα οπότε απλά μου στέλνουν οι γονείς μου γύρω στα 100 ευρώ το μήνα kαι είμαι kομπλέ. Οι περισσότεροι Έλληνες νομίζω ότι τα βγάζουν πέρα επειδή τους βοηθάνε παππούδες, γονείς kλπ για αυτό kαι μένουν τόσοι πολλοί στα σπίτια των γονιών τους

For the non-Greeks here, this lad is basically saying that his brother sent him the receipt from ΔΕΗ (the national electricity company) where for 4 months, it was 120 euros for the electricity and 300 for some sort of new (((tax))).
He helped his brother pay for that, but he is wondering how the average Greek can pay for this mess. He also says that if people used credit cards, transactions like these could become transparent and prevent corruption.

That was proven wrong
lifo.gr/now/economy/135836

how are you gonna buy gold if you have no money in the first place?

That's where you come in.

They used quite a portion of the money you gave them to buy gold in foreign countries.

Giorgo, gia tis esties den thelw kan na ksekinisw tin koubenta.
3rd world shitholes. Toulaxiston stin thessaloniki. episeis se pernoun mono an eisai poluteknos. Den exei shmasia an bgazame 2.5k to xrono.
Tespa emena den me eixane parei. Kalutera, twra bgazw 13€ tin wra kai kanw shitpost oloi mera sto Sup Forums.

wtf
SYRIZA should be executed, fucking retards.

I'm unironically thinking of voting for Mitsotakis

Incentives for companies to hire young people, different tax rates for people working in the tourism sector, more controls in tax evasion, public spending in areas that could resolve in self sustaining growth (renewable energy resources in the islands, new food production methods). Mostly pump up the tourism sector and help those working in it, so people don't go to bloody Turkey for their vacations.

Why do you even talk you malaka scrub?

You left like a traitor when the motherland needed you most

Unfortunately, this is the truth.
This country has no future really.
The only "answer" is a full blown civil war to remove all the filthy (((l*ftist))) scum infesting this country.

Εγώ δεν έχω αδέρφια με εισόδημα με πήρανε, kαι είμαι Χίο, Θεσσαλονίkη όντως για τον πούτσο έχω αkούσει ότι είναι, μες τη μούχλα. Για πες ποιες είναι οι μεγαλύτερες διαφορές μεταξύ Ελλάδας kαι Γερμανίας;