Greece has been living on borrowed money for too long a time and the previous government had even cooked their books to hide the true financial picture. They only have themselves to blame. Anyone detect any similarity with any country in Asia?
Ks55: Greece WAS a great nation once upon a long long time ago. I doubt it could be called a developed nation in the last few hundred years. I think it pretended to be one and that is the source of its trouble. I think the hosting of the 2000 Olympic required it to borrow heavily and this led to its downfall. In Greece there is lesson for those countries wanting the developed nation status before they are ready - there is grease on he floor and don't pretend it is not there.
actually.... Let those GLCs fail. would those creditors sue the Govt if the Govt do not honour those liabilities and tell the creditors that the GLCs would pay up to the paid-up share capital?
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Posted by firehawk > 2015-06-29 09:57 | Report Abuse
why they can't solve the debts? does Greece adopt GST?