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No Resolution Reached at Greek Austerity Summit

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Posted on May 27, 2011
Wikimedia Commons

A group of Greek leaders fell short of reaching an agreement on Prime Minister George Papandreou’s austerity plan by week’s end, putting Greece on shaky ground in terms of the country’s chances of receiving more bailout funds from the IMF, according to the BBC.

BBC:

Mr Papandreou, a Socialist, had been trying to secure cross-party agreement for further cuts.

The chairman of the eurozone finance ministers has warned the IMF may not extend further bail-out payments.

Luxembourg Prime Minister Jean-Claude Juncker said IMF rules might stop it paying because Greece could not guarantee its solvency for the next year.

Mr Papandreou’s government began a programme of privatisations on Thursday, but Mr Juncker has said the privatisation plan needs to be more ambitious.

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THX 1133's avatar

By THX 1133, May 29, 2011 at 2:13 am Link to this comment

PatrickHenry, May 28 at 8:23 am Link to this comment
Do what Iceland did, let the banks default.

Why should the people bail them out?  they are a ‘for
profit’ business and should suffer the wrath of their
poor business decisions based on their greed.
==================================
Abso-damn-lutely! F the banks! Learn from the
Icelanders; they did the right thing.
They’re now going to export green electricity to their
former suppressors. How ‘bout them apples?

Report this
tropicgirl's avatar

By tropicgirl, May 28, 2011 at 7:54 am Link to this comment

Greece can not ensure its solvency BECAUSE of the IMF and the world-wide, offshore, banking mob-crime syndicate.

Mr.JUNKer’s programmmeee of “privatization” includes handing over islands, land and resources that rightly belong to the Greek people.

If a criminal commits a fraud on you, I am sure that the law will not require you to fulfill that “contract” and continue to pay the criminal.

Its a ridiculous premise. I would have liked to hear more about what Antonis Samaras had to say.

I think perhaps one of the things that he would say is that the world banks should not assume that Greece wants any more of these loanshark “loans”. They would prefer to keep their country. One tranche of loans leads to another tranche of loans…. like heroin.

But I don’t know for sure, since BBC didn’t give him the courtesy of interview.

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PatrickHenry's avatar

By PatrickHenry, May 28, 2011 at 7:23 am Link to this comment

Do what Iceland did, let the banks default.

Why should the people bail them out?  they are a ‘for profit’ business and should suffer the wrath of their poor business decisions based on their greed.

Report this
Robespierre115's avatar

By Robespierre115, May 27, 2011 at 5:24 pm Link to this comment

The Greek people need to smash the entire state with revolutionary, insurrectionary actions. These suits are worthless.

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