[Gossilla]

There have been several haircuts to the Greek debt, including stretching of payment goals.

[de_Selby]

And no matter how many lazy op-eds are written saying it, this isn't simply a matter of Greece and Germany. A dept write-off would have huge knock-on effects in the rest of Europe, with Ireland, Portugal, Spain also then looking for similar write-offs.

Not to mention the crippling Italy, France and Germany's banks. The money has to come from somewhere.

[digitalengineer]

Everybody own everybody money lots of money. How about swapping all this debt and writing it off? See this 3 min. video by two English comedians: https://www.youtube.com/watch?v=YNA2VG_piUo

[fineman]

No chance it could come from the banks that made the bad loans? You know, make the criminals pay.

I imagine that would have more impact than making the victims pay.

[malka]

That would go against the very purpose of a bank : privatize what you earn, share your losses.

[halfdan]

That, and the NYTimes is ignoring it's own journalism: http://www.nytimes.com/2012/11/28/world/europe/in-germany-we...

[rtpg]

I thought there was only one debt devaluation (50-odd percent in 2010), but it was combined with austerity measures that destroyed any potential of growth.

[verinus]

i thought that prior to syriza election there was a positive development in the greek economy?

[vidarh]

Yet it's still nowhere near sustainable levels.