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<p>[QUOTE="Cloudsweeper99, post: 1204356, member: 3011"]The situations are the same for those who can see it. In both situations, the objective of the international bankers is to saddle the people of a specific country with debt repayments that they are unable to make without enormous suffering. This should be the problem of the creditors, not the people. Every bank, investment firm, or pension fund purchased Greek debt after performing a credit analysis that would have informed them that the risk was high that there would be a loss. Well, the loss is here. Any pension fund that is loaded with Greek debt at this point is probably guilty of a crime. And if Greece suffers inflation as a result of reviving the drachma, that is preferable to permanent debt servitude. It isn't possible for Greece to come out of this without pain, but I would put the pain on the creditors where it legally belongs when they make bad loans. You are making the argument that many people should suffer so that a few institutions can profit. I don't think that way. Greece will be better off in the long run out of the Euro, IMF, World Bank, etc. so the people of Greece can decide how to run their economy instead of Brussels and Basel. Surely a nation still has the right of self-governance!?![/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1204356, member: 3011"]The situations are the same for those who can see it. In both situations, the objective of the international bankers is to saddle the people of a specific country with debt repayments that they are unable to make without enormous suffering. This should be the problem of the creditors, not the people. Every bank, investment firm, or pension fund purchased Greek debt after performing a credit analysis that would have informed them that the risk was high that there would be a loss. Well, the loss is here. Any pension fund that is loaded with Greek debt at this point is probably guilty of a crime. And if Greece suffers inflation as a result of reviving the drachma, that is preferable to permanent debt servitude. It isn't possible for Greece to come out of this without pain, but I would put the pain on the creditors where it legally belongs when they make bad loans. You are making the argument that many people should suffer so that a few institutions can profit. I don't think that way. Greece will be better off in the long run out of the Euro, IMF, World Bank, etc. so the people of Greece can decide how to run their economy instead of Brussels and Basel. Surely a nation still has the right of self-governance!?![/QUOTE]
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