# http://news.google.ca/news/url?sa=T&ct2=ca&fd=S&url=http://ca.reuters.com/article/bus



## 1980z28 (Mar 4, 2010)

*http://news.google.ca/news/url?sa=T&ct2=ca&fd=S&url=http://ca.reuters.com/article/bus*

Now what

http://news.google.ca/news/url?sa=T...iYCYAQ&usg=AFQjCNFhFuZ04retgdLjuDPozmK0MIocFA


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## Rusty O'Toole (Feb 1, 2012)

Greece is broke, they can't pay the old loans, they can't pay the interest, they can't pay anything and they wouldn't pay if they could.

There was NEVER a chance that they would pay ANY of it, not from the first day they joined the Euro zone. Governments are always borrowing money and none of them ever intends to pay back any of it.

The only question was, how long can they keep the scam going?

The answer is, as long as other countries will bail them out or keep loaning them more money. But now the other countries or the Troika, wants them to cut back spending, increase taxes, and pretend they are going to pay. To this the Greeks gave them the big finger.

So, Greece has basically ended the farce but the other countries don't want to admit it because if they admit Greek bonds are no good all the banks that bought them are ruined and that is what they don't want to admit. As long as they can pretend Greece is solvent their banks are solvent but if Greece defaults their banks are toast.

Unless they dream up some new bailout or scam to keep the banks afloat, which they will.

I expect the Greeks will agree to a writeoff of half the debt they owe, as long as they don't have to pay back the other half, and can continue to owe it, and borrow more besides.


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## sags (May 15, 2010)

Wise advice even today.

_Polonius:

Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

Hamlet Act 1, scene 3, 75–77_


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