Greek debt

In some ways I feel sorry for the ordinary Greek man and woman.  They are having to replay huge debts whilst their economy is doing very badly.  Many in Greece are experiencing real poverty.  They should never have been allowed into the Euro club all those years ago.  Tax avoidance had become a way of life in Greece and they are so far out of step with the economies of northern Europe. In many ways the Greeks expected it too easy within the Eurozone. Now they are finding out the hard way.

I very much doubt they will be able to re-negotiate their repayment terms.  If they leave the Euro now it will be very bad for Greece and hard on the Eurozone.  Sadly,with other indebted nations "in the wings" Germany and others in the Euro club cannot give in to Greece.  Tough times are ahead.

See http://www.independent.co.uk/voices/as-in-1942-germany-must-show-restraint-over-greece-10015905.html .   Apparently,Germany has misread Greece in the past.