Re: Ignorance of the issue
> So basically the rest of the EU handed Greece 200+ billion with zero chance of getting repayment?
What actually happened is that the European Commission, the European Central Bank, and the International Monetary Fund paid off about 180 billion of Greece's debts and bailed out their banks after the financial crash. Greece can't pay it back because this group (currently being termed "the troika") also implemented such savage austerity that the Greek economy has pretty much collapsed, it lost over a quarter of its GDP, unemployment is soaring, youth unemployment is at over 60% and that means that Greeks are now draining MORE cash from the government because they don't have any jobs and their pension funds have been massively raised.
This was the situation before they elected Syriza - the alternative was even harsher fiscal punishment, hard though that may be to believe, and that fiscal torture is still what the "troika" are demanding because obviously, you make a buoyant economy by paying people to be unemployed, right? (!?!)
The actual solution is for Greece to leave the Euro so that they can devalue their currency. The Eurozone doesn't want this because the so-called PIIGS have been keeping the value of the Euro nice and low which is lovely for Germany's exports.
Trouble is, bankrupt people can't buy from Germany.