So... Greece?

[Sri Lumpa]

Kasz216 said:

Seems like a pretty interesting situation and nobody is talking about it.

They need money desperatly, but have to agree to make cuts so they won't keep having massive debt, however the people are mass revolting because they've already had to pass some austerity measures.

France apparently is fighting Germany to convince them to give greece the money without the austerity cuts.  While everyone is fearing that Greece failing might cause  lehman brothers type collapse that could also destory Ireland and Spain and basically hugely screw over the world economy again.

I'm really interested in what various people think about the whole thing.

Ireland and Spain don't need Greece to get destroyed, they are doing a fine job of it themselves.

It is France and Germany that risk to get hit hard because their bankers lent a lot of money to the greek government. The bailout is not so much a bailout of greece as they do not have the political will to get out of debt and will thus default later (and worse) but rather it is a bailout of greece's creditors.