The money would be much more effective if it was used given to the Greek people after the default to help them refinance the economy.
I can see a massive problem with this, people would say the Greek’s are getting bailed out!
Sorry, but aren’t the Greeks getting bailed out now?
Countries in the Eurozone are paying up anyway it’s just a matter who they prefer to get the money
Who would you prefer gets the money?
The international banks (who have shown themselves to be completely incompetent) or the Greek people who have asked for nothing.
This “crisis” could have been sorted out a year ago and things could have been back to normal by now and the cost would have been 50% less than it is now.
Greece initially took a 100 billion Euro bailout last year and is looking for another bail out now for around the same amount.
It is crazy.
I have said it before, the politicians say the problem is that Greece has too much debt so their answer is to increase Greek debt by 60%.
This is clearly not an answer in the interests of the Greek people.
“The consequences of a sudden bankruptcy or exit from the euro zone would be immediately disastrous for Greek households, banks..” – KAΘHMEPINH quotes Papandreou as saying
Would it be so disastrous if 110billion Euro were given to the Greek people after default? Surely it must be a better situation than lending the Greek government 220billion Euros and none of the public in the Eurozone seeing any benefit