[shkkmo]

Varoufakis fought to find solutions that would allow Greece to actually be able to repay their debt. When that proved to be impossible, he refused to sit by and lend his name to a deal he didn't believe was in Greece or Europe's best interests.

[pif]

> Varoufakis fought to find solutions that would allow Greece to actually be able to repay their debt.

Default is not a solution to repay a debt. You can choose to default, but you can't expect any credibility later. The message Varoufakis sent to Greeks was: "Let's just say we don't want to pay and everyone will forget about in a couple of years."

[atmosx]

> The message Varoufakis sent to Greeks was: "Let's just say we don't want to pay and everyone will forget about in a couple of years."

The solution he proposed to the EU was rejected and the next day was applied by the letter on Ukraine.

Plus being accused of talking macro-economics on a Eurogroup should be like accused of liking basketball at an NBA playoff game. But then again, if the room is full of politician, who don't understand the first thing about economics and just blindly execute, that's what happens.

[hackermailman]

Shredding the paper debt and defaulting has worked before for Mexico, Argentina and Solon of Athens.

[dnautics]

Default is a solution if you have a plan to not ever incur sovereign debt. This however is impossible with neoliberal social state governing models.

[atmosx]

Nope, history says otherwise. As long as the debt stands Greece will not be able to get any financing exactly because it's assured that it will not be repaid.

The only way to get financing is by debt restructuring. It has happened time and again. You'd be amazed how many countries defaulted the last century. I think Germany defaulted twice.

[pm90]

Yeah, I just don't understand how so many people fail to see the most obvious solution: default and stop paying interest. Sure, you're credibility will be lost for now, but then you can slowly build it back up again since you're no longer burdened with paying back the defaulted loans. Its not magical: as it currently stands, Greek economy is going to die a slow protracted death anyways.