Greece Defaults. What now?

[Qwark]

routsounmanman said:

Qwark said:

There is a reason that Greece is in this spotlight, because the situation there is far worse than in so called other problematic countries.

Indeed now it is, after 3 horrendous bailout programs that have failed miserably so far (even the IMF has openly admited to misjudging the effects of austerity and miscalculating Greece growth rates). The results - GDP 26% down, highest unemployment in EU, all while the debt has exploded.

Or do you mean at the start of the crisis? Please enlighten me as to why.

The situation was crap to start with, otherwise they wouldn't even need help, let there be no doubt about that. Greece sure as hell ain't Denmark or the Netherlands. I agree that the bailouts where poorly executed but putting the full blame on EU isn't correct although they didn't make the situation any better and presumably quite a bit worse. But the corruption and the failed taxation in the entire country made it a simple timb bomb and the EU added some gasoline after it's explosion to make the explosion worse, but in my opinion there shouldn't have been a timb bomb at all and that has Greece to thank to it's very self.