Austria tells Greece to get stuffed (Will Austria Renege on Bailout Funds?)

[megimoo]

Austria tells Greece to get stuffed (Will Austria Renege on Bailout Funds?)


Europe’s hastily assembled bailout fund already seems to be coming apart at the seams, and that’s before Ireland has even tapped into it. Austria is refusing to contribute to the next tranche of bailout money for Greece, citing the country’s failure to meet conditions. Yesterday it emerged there is serious slippage in Greece’s deficit reduction programme.

The way things are going, the facility will fail even before its wider fault lines have been fully exposed. Europe is making things up as it goes along, and a pretty desperate job it is making of it too. The extraordinary thing to outsiders trying to analyse these events is just how poorly prepared Europe was to cope with sovereign debt crises within its midst. Indeed the no bailout clause contained in the Maastricht Treaty seemed to deny the possibility of there ever being one.


http://blogs.telegraph.co.uk/finance...o-get-stuffed/

[m00]

I have a Greek friend. He tells me basically Greece is fucked. :p Apparently, how clever you are in Greek culture is defined by how well you can get out of paying taxes, scamming the government, or avoiding work.

[KhrushchevsShoe]

I have a Greek friend. He tells me basically Greece is fucked. :p Apparently, how clever you are in Greek culture is defined by how well you can get out of paying taxes, scamming the government, or avoiding work.

That's true in a lot of countries. Americans are stunningly loyal when it comes to paying taxes, almost to the point of naivety. One of our strong suits.

EDIT: Yea quite a few Democrats got busted for not paying theirs, but the key thing is they were caught. And people cared. That's unique.

[lacarnut]

Germany will tell them to get stuffed also. There will not be a second round of bailouts. Germans are pissed because of the low retirement age (55) of Greek workers.