When a person gets cornered, what will he do? Anything. There’s nothing more to lose. Greece is in one such situation. Whether the Greeks vote ναί (YES) or όχι (NO) to the troika’s terms, it makes no difference. You can call a bankrupt πτώχευση (in Greek), en faillite (French), 破产者 (Chinese) or whatever, he is still a bankrupt. A bankrupt is a bankrupt, period. You can kick the can down the road or bury your head in the sand, a bankrupt is still a bankrupt. Unless of course….. he defaults. All debts suddenly vanish.
The intriguing situation in the Eurozone is that it is the bankrupt trying to save the bankrupt. The bankrupt prints money to give to another bankrupt who in turn pays the bankrupt with bankrupt money… How strange. With China, it is DIFFERENT. China is not a bankrupt. China has loads of “money” minted by the US. China can bail out Greece. Why shouldn’t Greece accept such largesse from friendly China who has money? Accept it with grace and gratitude. Never mind changing Greece to Cheece. Sounds much better too.
Spunik News reports:
China may help Greece through EU instruments or directly, a member of the Chinese Academy of Social Sciences, affiliated with China’s State Council, told Sputnik.
China may help Greece directly through its new financial instruments, director of the Quantitative Finance Department at China’s Institute of Quantitative and Technical Economics told Sputnik China.
Investment bank Goldman Sachs predicted in a report published on Wednesday that in a worst-case scenaria China’s exports would decline 2.2 percent as a result of Greece’s economic crisis. Other than exports to Greece itself, the crisis could also hurt the economies of nearby countries, where Chinese businessmen have also made considerable investments.
Are we ready for the birth of a new nation -say CHEECE! Three cheers to wine and cheece!
And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the Lord‘s release.