[Alkim]

It is interesting to think about the motivation of the Greek elected officials. To me it looks like they are trying to avoid the responsibility of making a painful decision. It also appears quite likely that the Greek citizens will vote against reducing pensions, etc.

So with that in mind, what happens after 5 July? The rest of the EU will be placed in the uncomfortable position of either caving to the demands of the Greek citizens or somehow taking the position that the referendum is irrelevant--which will look very undemocratic. But to cave to Greece would mean the rest of the EU taking on an indefinite financial drain.

I don't see how this ends any way other than Greek banks collapsing or Greece leaving the EU.

[tomp]

> To me it looks like they are trying to avoid the responsibility of making a painful decision.

In reality, they're just keeping their word. They were elected to prevent austerity. By not signing up for even more austerity, they are just fulfilling their democratic mandate.

[return0]

They are looking for the easy way out. The greeks will predictably vote for euro and they 'll be called to resign, which they will. Bubble popped, new coalition government accepts bailout terms and reality resumes.

[junto]

And if that happens we are back to square one. Greece can't pay this back. Whether it was wrong of them to accept a loan they couldn't pay back is now a mute point. Greece are bankrupt. Everyone just needs to accept that fact.

A new government that accepts the terms of yet another loan they can't pay back is just going to end up in the same mess two years down the line.

Germany wants them to turn into some German style mini-clone. Germany needs to accept that other states are like children; naively, you think you can bend them to your will and force them to behave in this bmanner you think is acceptable, but you are a fool if you believe that to be the case.