Only in the mutual virtues of charity and austerity, can solutions to the Greek debt crisis be found...
Originally Posted by neddy
Re (SBY): It is not just the debts, you Greek fools
1.Tsipras may be from a modest background, but pride and assertively will be needed to stand tall in Europe. To be humble is to be weak.
2. A bankrupt Greece is more a headache for creditors because Greece lives on self sufficiently . Unlike Singapore where basic needs like food is imported. Greece olive oil is also exported as "Italian" olive oil.
3. Debt is not a bad servant. In Japan, debt is acquired domestically. In countries that depend on foreign investments and debt, the money will disappear and return to source at a sign of trouble. Remember 1997 and 2008.
4. If you have been living in Greece before, you will find that Greeks are more refined and educated. But they are stubborn. In general, Greeks are in general more tolerant, generous and kind people who value human dignity. I have been to their community farms, etc. Their history has not always being kind to them.
Just think about it. If one day, Singapore has no money to buy food from Malaysia, should it ...
Be humble and beg for food from Malaysia.
BE ASSERTIVE and tell Malaysia, I have nothing left but bombs to hit your business. I have nothing to lose. Give me some food on IOU and when we eat the food and have strength, we will work to pay you for the food later.
Talk about SG run out of cash: why? Great depression situation? ISIS targeted vital services: MBS, Changi airport? Racial riots?:: by then, NS= decimated already, so like in Iraq case where ISIS just robbed fleeing Iraqi soldiers of USA made weapons such as black hawk helicopters and artillery, a fallen state has nothing to be assertive about.
A bankrupt Greece (as part of Euro currency system) is of course a very big headache for creditors let alone Eurozone. Japan debt is so called stable because the Japanese is a nationalistic country and Japanese support their own gahmen if not the Shinto emperor (even to death)... Unfortunately, as your previous post alluded to, Greece will have difficulty rolling over short term debt because Greek banks, faced with local runs by Greek citizens on banks, will be precluded from bidding for such T-bonds etc given their lack of funds: thus placing the Greek central bank again at risk of bankruptcy if it is unable to roll over even its short term debt.
Debt (especially foreign) is a bad servent : he flees during crisis leaving the master high and dry (as U alluded to in your case examples of 1997 and 2008): thus, per Japanese example, the only stable source of debt is local sourced which obviously contradicts your evidence of Greek citizens withdrawing their cash from banks= a NEGATIVE source of funds for the Greek financial system: thus leaving moral leadership the ONLY way left forwards.
Pray tell, besides a nonexistent Greek army or degeneration into ISIS like groups germinating on Greek soil, please accede to my suggestion that morality at the heart of all leadership activity is the only viable way forward now that the Greek gahmen is bankrupt in all but name.
Maybe if Greeks accepted the virtues of austerity and their creditors the virtue of charity, then a mutually peacable way forward can effectively be found.