It seems Greece are never able to pay back on time and always ask for bailout! It cannot be like this forever! But it seems they fall in this dilema, creditors have to extend the loan and bailout Greece otherwise Greece will default!
Allow them to generate the tax revenue, and then they will be able to pay back their debts. The Greek agricultural, real estate, and the tourism sectors have all been hit hard by the EU sanctions on Russia. Their industrial sector is in shambles, due to the tax increases. Exclude Greece from the EU sanctions on Russia, and allow the construction of the Turkish Stream on Greek territory. Slowly, the Greeks will be able to repay their loans.
The Greek debt is not sustainable because the interest on it is super high and compounded..It has to be restructured, like the allies did for Germany after ww2 and wiped off a shit load of it that's how the German economy took off. Basically the Germans got rewarded for causing the the 2nd world war and the deaths of millions..I like Germans don't get me wrong, Greeks can learn from the discipline of German culture but Greeks should get the same respite as the Germans then that is fair play.. THE EU ruined the Greek economy, along with corrupt and overspending Greek politicians so those politicians that ruined the country should be put on trial as criminals and the Greek debt restructured first..
The Greek debt has already been hugely restructured a few years ago, and there was hope at the time that Greece would learn from Germany and other countries with good managers at the helm, but our hopes have faded. Has that Tsipras guy done anything to improve tax collection? Or to bring to justice previous corrupt Greek politicians? What has he done besides insulting his bankers, saying debts are a shame and asking for more time?
Greece ruined itself. Alone. It fully deserves to suffer from its wrongdoing.
