Or merely just as bad? That's what's being debated now. Ironic that Germany of all countries should be the one to imposing it with such relish.
"There is no long-term future for the eurozone," said analyst Marc Ostwald of ADM Investor Services on the topic of the current plan. He called the deal worse than "the 1919 Treaty of Versailles", which hampered the growth of Germany's economy after the First World War and paved the way for the rise of fascism."
http://www.ibtimes.co.uk/greek-debt-crisis-european-markets-rise-analysts-hesitant-about-eurozone-progress-1510575
http://www.ft.com/cms/s/0/c895f7a8-2932-11e5-8db8-c033edba8a6e.html#ixzz3flzTqUdw
Because it looks like Grexit is coming whether in a few months or a few years anyway so why not bail out now? What we have learned if nothing else is that the longer it takes to make a decision the worse it is for Greece.
"There is no long-term future for the eurozone," said analyst Marc Ostwald of ADM Investor Services on the topic of the current plan. He called the deal worse than "the 1919 Treaty of Versailles", which hampered the growth of Germany's economy after the First World War and paved the way for the rise of fascism."
http://www.ibtimes.co.uk/greek-debt-crisis-european-markets-rise-analysts-hesitant-about-eurozone-progress-1510575
Call it the 'Rotteness of the Germans.'
http://www.amazon.com/Rotten-Heart-Europe-Dirty-Europes-ebook/dp/B009UMZWTI/ref=sr_1_1?s=books&ie=UTF8&qid=1436789144&sr=1-1&keywords=the+rotten+heart+of+europe
I guess what the Germans did this weekend only looks not so bad compared to what it did in the 1930s,
At this point the only hope for Greece is that it's Parliament says no. Many analysts seem to think it will say yes though Tripas will need the votes of the opposition parties for this as his own Syrzia party will be opposed.
Talk about a legacy.
Maybe time will be Greece's friend here. Maybe they won't be able to implement this deal in time.
"But it remained unclear whether Mr Tsipras would be able to implement his pledges in time to satisfy sceptics, headed by Ms Merkel, and overcome opposition in the Greek parliament. Aveni, the newspaper of Mr Tsipras’s Syriza party, said “Germany is not entitled to destroy Europe for the third time in a hundred years.”
http://www.ft.com/cms/s/0/c895f7a8-2932-11e5-8db8-c033edba8a6e.html#ixzz3flzTqUdw
Because it looks like Grexit is coming whether in a few months or a few years anyway so why not bail out now? What we have learned if nothing else is that the longer it takes to make a decision the worse it is for Greece.
http://diaryofarepublicanhater.blogspot.com/2015/07/syrzia-game-theory-failure.html
Maybe there can be enough opposition and delay to at least miss the deadline.
However, former Greek PM Papandreou who the EU liked a lot better-for all this benefitted him as he was forced out-has assessment that you have to hope is not true:
"However, the former prime minister did highlight a silver lining that came along with Greece's referendum as Tsipras looks to return to the negotiating table with his country's creditors."
"He has now convened leaders of all the opposition and they have signed on a deal to support a new agreement so that would be supported by a very wide consensus of the Greek political parties," he said. "That I think is an important element for the creditors to know that if there is a deal struck it will be implemented."
http://www.cnbc.com/2015/07/06/greece-negotating-in-much-worse-situation-papandreou.html
It really is a bad deal:
"He agreed to sequestrate €50bn of Greek assets — for privatisation, bank recapitalisation and debt repayment — and put them into a special Athens-based fund. However, Greek officials warned that such violations of Greek sovereignty and democracy would be impossible to pass through a restive Greek parliament."
. Worn down by a 17-hour eurozone leaders’ summit that capped a weekend of talks, Greek premier Alexis Tsipras yielded to the most intrusive economic supervision programme ever mounted in the EU.
http://www.ft.com/cms/s/0/c895f7a8-2932-11e5-8db8-c033edba8a6e.html#ixzz3fm2CGaCQ
Maybe there can be enough opposition and delay to at least miss the deadline.
However, former Greek PM Papandreou who the EU liked a lot better-for all this benefitted him as he was forced out-has assessment that you have to hope is not true:
"However, the former prime minister did highlight a silver lining that came along with Greece's referendum as Tsipras looks to return to the negotiating table with his country's creditors."
"He has now convened leaders of all the opposition and they have signed on a deal to support a new agreement so that would be supported by a very wide consensus of the Greek political parties," he said. "That I think is an important element for the creditors to know that if there is a deal struck it will be implemented."
http://www.cnbc.com/2015/07/06/greece-negotating-in-much-worse-situation-papandreou.html
It really is a bad deal:
"He agreed to sequestrate €50bn of Greek assets — for privatisation, bank recapitalisation and debt repayment — and put them into a special Athens-based fund. However, Greek officials warned that such violations of Greek sovereignty and democracy would be impossible to pass through a restive Greek parliament."
. Worn down by a 17-hour eurozone leaders’ summit that capped a weekend of talks, Greek premier Alexis Tsipras yielded to the most intrusive economic supervision programme ever mounted in the EU.
http://www.ft.com/cms/s/0/c895f7a8-2932-11e5-8db8-c033edba8a6e.html#ixzz3fm2CGaCQ
If you don't thin that's a bad deal then you have to tell me what a bad deal would look like.
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