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I thought Germany was a democracy too?

I think they'd be doing just fine, albeit with less bloated pensions. Through sheer luck of geography tourism will always be a big draw for them.

I'm not saying anything about whether the loan is justifiable or not. I'm saying the entire idea of calling a referendum to get out of a loan without facing the consequences of default is absurd. It seems like you think any lender willing to give a country a change deserves whatever default...

If I owe the bank £1m and tell them "I'm not paying" I will surely expect them to repossess my house. Tsipras is claiming it will give them a stronger position. The entire thing is a farce.

Voters voting "no" means Greece are in a better negotiating position, claims Tsipras. That's like me going to a bank, trying to get a loan, and the saying "but I really don't care about paying you back", and then expecting to get a lower interest rate.

Basically that was a very expensive way of saying "we don't accept your terms".

Buyer beware.

Translation: 1. We spent too much money, through sheer incompetence of government 2. We don't want to pay it back, so we are choosing not to. To all the people who say this is a good thing: what is the difference between a country that defaults and a bank? Why are bankers evil for taking...

I don't understand this. Having a referendum absolves the current government? You can't erase from history their months of brinkmanship and headline-grabbing. Calling the referendum next week doesn't even make sense, as capital controls have already started and they will potentially miss the IMF...

Anyone getting tired of the Greek rhetoric? The leaks, interviews, press releases being regurgitated for five months... They want to have their cake and eat it, plain and simple.

You do feel bad for the Greek citizens, but at the same time there are plenty of countries who contribute to the bail-out fund who are not by any means rich. Using that money to bail-out Greece will unfairly punish the prudent. When thinking about long term sustainability, I think the simplest...

My response would be that the Greeks have imposed this on themselves. Nobody has a right to be bailed-out. If their debt is written off, moral hazard will spread across international politics.

I wouldn't say the creditors are even being "hard". They're just not stupid.

Of course they are serving specific interests. The interests of whomever foots the bill of this "rescue". Surprise surprise, if you employ brinkmanship for five months then people you are asking for money from will treat you with suspicion.

Saved from a run on the banks and economic meltdown, repay what they owe to their creditors.

What rules? They got a 180bn bail out because their economy was a mess. They should be happy they were saved, not angry that they have to repay!

The cheek of lending someone money!