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by m_fayer 4003 days ago
There is no natural law that says this. People, organizations, and governments can very much accumulate debt that they cannot repay, it happens all the time. You can't squeeze blood from a stone, but you can enslave a person or throw them into debtors prison if a punitive approach is what you're after.

No matter what you do the debt will not be repaid because it cannot be repaid. We would like to think that in our modernity we have come up with civilized and merciful ways to deal with this situation, like bankruptcy for example. Unfortunately in the case of Greece the creditors seem less then enlightened.

1 comments

Greece has tax incomes of what, $100bn a year? Why do you say they cannot repay their debts? I don't know the numbers, but I guess it is less then $10bn per year they have to pay.