Greece is on the verge of defaulting on their debt. They now want a referendum on new cost-saving plans, before they agree to takwe more loans. but the referedum is next weekend, and they need more money on Tuesday. that means they will default. this may have dire consequences for Greece, the EU, and the world. what do we do about it?
Here is the correct answer: Greece LIED about their finances, tax revenue, etc...in order to get into the EU. They accepted $250 billion in loans to pay off their debts, which they have been racking up for decades for pensions, weapons, salaries, social benefits. Greece refuses to crack down on tax-evasion. The EU should kick them out, and seize all international Greek property as collateral until all loans are paid off.
The EU knew Greece was lying though. There is no reason for the EU to be high and mighty about it. Kicking Greece out of the EU would be a blessing in disguise. The other debtors would know the EU is serious, and Greece could go back to the Drachma and inflate away their debt.
Im tired of the EU letting Greece hold them hostage. Their government is like a cancerous tumor. best to cut out the tumor before it spreads. plus it will tell Italy, Spain, Portugal, that they mean business, and nations must be financially responsible if they want to be part of the EU.
