If Greece does exit....

According to the Independent a few days ago, Greece could sue Goldman Sachs to recover some of the squillions it paid to them for securing their place in the single currency.

All countries have debts. Greece can live with theirs, whether they ever pay it all back or not.

petra that is being drippy. They are no more "the underdog" than any other EU country.

But the whole point is is that they will never be able to pay it back, so whatever anyone thinks about the situation and whether the Greeks should pay it back is immaterial - they won't so the EU needs to man up and face reality.

I agree Ana, I definitely wouldn't support bailout.

I understand that a prerequisite for joining the Euro was a revision of their tax and monetary regulations but neither were implemented.
Greek friends of ours are wholly unsympathetic with the whole Greek debacle and say their government should be held to account.
For years the tax system has been corrupt and divisive with little accountability so the Greeks have brought it on themselves.

Harsh but true, there's been little or no attempt to address the problems or the repayment.

I agree with you, Maggiemaybe. It's one thing to support the underdog, but when their economic woes are largely self-inflicted it doesn't seem fair or reasonable to expect bail-out after bail-out.

The trouble with the Greek economy is they wont be able to get back from it. They are in too deep from what I understand.

But who do we we expect to bear the cost of bailing them out? Plenty of young Germans are struggling themselves - should they bear the brunt? I for one wouldn't expect them to do so because of what happened 70 years ago. Other poorer EZ countries? Such as Latvia, who had a bail out some years back, and suffered years of austerity to get their economy back on track so they didn't even have to take the full loan on offer?

Exactly my feelings Petra.

Jings. I don't think it's that we are drippy about the Greeks, I think we (the British) don't like to see someone kicked when they are down.

It's commonsense. People get so drippy about the Greeks.

Lord Lawson evidently doesn't partake of his daughter's cream-laden cookery!
I don't fully understand the Greek situation, but I wonder why they ever joined the Euro in the first place. I heard the opinion on the radio this morning, that the Northern Europeans and the ECB are being particularly hard on Greece as a warning to other nations such as Portugal and Spain. Sounds like bullying to me.

They have been made a good final offer. They should take it. They seem to be incapable of running their own affairs. More able people within the EC should do it for them for a while. It is the best way forward for them.

Yes and did he not look like a scarecrow, he had lost lots of weight, but his views were sound and resonated with me.

We have just spent 3 weeks there in the Small Cyclades. People there are used to working hard when the sun shines, getting the tourist money then hunkering down in the winter. They are a proud race and deserve better from their politicians, but that could be said of many areas of the world.

It was jollyg I can picture him now - thanks.

n ex Conservative Chancellor was on the Daily Politics the other day - sorry I can't remember which one - and he said they should be forgiven a large part of the debt or the loan would end up as what he called something like "lend and pretend" so you lend the money but everyone knows it will never be paid back their is just a pretence to do so. This would destroy any chance of rebuilding the economy.

IT WAS Nigellas DAD, and he spoke sense

I think the EU are frightened that Putin will step in to help Greece and extend the Russian influence into the Mediterranean. He is obviously keen on expansion and has already been cosying up to the Greek PM. Hence they had to cobble together something resembling a deal even though it seems apparent that the deal will either be rejected by the Greek Parliament or will collapse fairly quickly. It's a real mess and quite a dangerous situation.

I think it was probably Norman Lamont Gracesgran. I heard him on Any Questions the other day and he was saying it was ridiculous expecting Greece to pay back an unpayable debt that should never have been allowed to accrue in the first place.

jingle I expect it would be extremely difficult at first but other countries survive using their own currencies and I can't understand why the Greek people would want to keeping using the euro - or indeed remain in the EU - when this is the way that it treats its members and supposed "friends".

But if they leave, and start printing their own money, what will they use to pay other countries for imports? You know, just the little things. Like oil.

I think that they would be better off leaving too.

The Greeks have been treated appallingly. An ex Conservative Chancellor was on the Daily Politics the other day - sorry I can't remember which one - and he said they should be forgiven a large part of the debt or the loan would end up as what he called something like "lend and pretend" so you lend the money but everyone knows it will never be paid back their is just a pretence to do so. This would destroy any chance of rebuilding the economy.

I am beginning to feel they could not be any worse off if they left the Euro and began to rebuild their economy, asking for humanitarian aid directly for the people.

It is disgraceful what the EU is requiring. I would certainly contribute to the Greeks who are suffering as a result of such draconian austerity. Amazing isn't it 5or so years ago we never used the wretched word.

I would like to contribute to a fund to help the Greek people - but to go directly to those in need rather than to bail out banks.

As petra says, the vultures are circling.

There are proposals that state-owned enterprises be sold off to foreign companies. This apparently includes the ports of Athens and Thessaloniki, and the Thessaloniki water company. This won't be to the advantage of the Greek people. Our own experience is that water companies pay dividends to their shareholders whilst raising prices and under investing.

There is also a suggestion that Greece might sell a 16 per cent stake in OTE Telekom to Deutsche Telekom, which already holds 30 per cent.

I'd contribute, I'm another who loves the country and its people. In fact, I'm off to find the website asking for us all to contribute towards the Greek debt.

I stand by my belief some generosity of spirit needs to be shown, similar to that shown when Germany's debts were written off (by the greeks) in 1953 in order that Germany could begin to rebuild

I would contribute. The vultures are already circling to buy their ports/ airports/ ferries, and put tolls on the roads that EU money built.

The EU is being totally unrealistic with regard to Greece. I wonder really whether a Greek exit is the underlying agenda? They can never repay the debt. I am sure that humanitarian aid will be forthcoming but how disgraceful that it should come as a result of EU action.