

Europe is blowing itself apart over Greece - chvid
http://www.telegraph.co.uk/finance/economics/11724924/Europe-is-blowing-itself-apart-over-Greece-and-nobody-can-stop-it.html

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chvid
From the article:

"Greek premier Alexis Tsipras never expected to win Sunday's referendum on EMU
bail-out terms, let alone to preside over a blazing national revolt against
foreign control.

He called the snap vote with the expectation - and intention - of losing it.
The plan was to put up a good fight, accept honourable defeat, and hand over
the keys of the Maximos Mansion, leaving it to others to implement the June 25
"ultimatum" and suffer the opprobrium."

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antman
If he wanted to lose he would simply say "Vote NO for exit from the Eurozone's
burden".

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SCAQTony
I really don't get this. The Greece population is barely bigger than the
population of Los Angles county. It's GDP is 60% less than Los Angeles yet
they are $318-Billion in debt, of course they can't pay it.

But most confusing is how this is couched as potentially destroying the Euro.

"...Yet if Greece is in turmoil, so is Europe. The entire leadership of the
eurozone warned before the referendum that a "No" vote would lead to ejection
from the euro, never supposing that they might have to face exactly this...."

The European Union has no constitution, no "all powerful" executive, judicial,
or legislative power over any it's "states" and worse than that there are
seemingly no consequences when a states over borrows and under produces.

Imagine if Los Angeles said, "Ok, we are defaulting, we are creating our own
currency, bye bye!" It would not fly and neither would a bailout.

