The truth is that Greece owes less debt proportionally than the US. Thej just can't print their own money to hide it.

Until recent times it was *always* a principle to hold occasional debt forgiveness because it is humane and good in the long term for all participants. That has been happening since biblical times.

in exchange for concessions on how the US does business both at home and abroad. In particular, I'm sure the USA will be eager to open its door to unfettered Chinese investment and control. No?

is a contributor to the IMF. Should the US just tell the IMF to forgive its portion of Greece's debts?

so it really doesn't matter. My point about debt forgiveness was to accentuate that historically countries have handled these things a bit more humanely (and logically I believe).

Especially given that money is a fiat. If we can print money to buy back our own bonds (which we did in the last few years), then certainly the idea that allowing some compromise in these things is not quite a complicated or unethical as the PTB present it.

I find it particularly ironic that Germany is the primary one keeping a compromise from occurring. And yet Germany was heavily reliant on the goodwill and money of other countries to get where it is now. That is not to dismiss what Germany did, just that for someone who had so much help and compromise along the way you would think they would be somewhat less rigid.

The knives are out for Tsipris. They may cut themselves if they aren't careful.

It is foolish for the Germans to treat Greece in this way.

its certainly true that Greece is geographically important to Europe - and all the organisations that are Europe-centric like the EU, NATO etc.. so that Europe probably ought not to go too hard on Greece incase it goes looking for a new friend (and we all know the name of that friend...), its also true that Europe is critical to Greece. Putin might lend the Greek government a large wedge on 'good' terms, but Russia doesn't have the market (or inclination) to single-handedly support the Greek economy by buying everything they produce.

if Greece (or, more acurately, the current Greek government in a political cleft) decides to push the Fuck You button and accept Russian baleout money, then the EU will follow up with its own Fuck You button. Syriza might get a year of being able to pay for all the things they promised - which wasn't far from unicorns, rainbows and fairydust - but the rest of the Greek economy will tank when its tourism revenue dries up and the EU single market is no longer available to Greek industry.

dangerous games on both sides.

Plus, Greece is not the only country on the line. All the countries that dip their noses into the Mediterranean are having a tough time.

The Germans love the summer sun of those southern lands. The Greed Tourism market will not dry up.