Greece will never be able to pay off its debt. It is mathematically impossible.
Greece can not survive in its current state. With close to 30% unemployment, taxes that add up to roughly 45% of wages earned, and a disposable income that has fallen by more than 30 per cent, it is obvious that Greece needs to cut out the cancer that is the Eurozone.
With these facts in mind, it is clear that should SYRIZA win the Greek election this January 25th, then some hard decisions from the new government will need to be taken.
These decisions will mean that Greece will either become a free, sovereign nation, or permanently remain a country in perpetual debt slavery…a vassal to Brussels’ corruption and theft.
Should Greece choose to break free of the chains imposed by the EU, then someone will have to pay the brunt of the costs.
Greece will obviously go through a massive depression for a few years until it begins to rise again.
Bankers have already been bailed out by Draghi and Co., so they have nothing to worry about.
EU citizens, including German taxpayers, will be on the hook. They will have to eat the Greek default, but given that this was money that could never be paid back anyway…no biggie, right?
Speculation is growing that if anti-bailout SYRIZA wins Greece’s January 25 parliamentary election, it will try to renegotiate European Union loans and conditions, possibly provoking a crisis between Athens and its eurozone partners.
There is also concern that Tsipras, whose party is ahead of rivals in opinion polls, will demand another reduction in its foreign debt that could cost German taxpayers up to 40 billion euros, according to some German economists.
“German taxpayers have nothing to fear from a SYRIZA government,” Tsipras wrote in Handelsblatt. “On the contrary. It is not our goal to aim for a confrontation with our partners, to get more credits or a license for new deficits.”
“The aim is to stabilize the country, reach a balanced primary budget and end the bloodletting from German and Greek taxpayers,” he wrote.
But Tsipras said Greece would only be able to pay back its debt if austerity measures were scrapped. “The truth is that Greek debt won’t be paid back as long as our economy is continuously exposed to ‘fiscal waterboarding’,” he said.
Tsipras reiterated that he wanted Greece to stay in the eurozone.
“Our goal is to reach a new agreement — within the eurozone — that would allow the Greek people to breathe … and to live in dignity by restoring debt sustainability and finding a way out of recession through financing growth,” he wrote.
The only way for Greece to breathe again is to remove the noose around its neck.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.