Greece Could Erase Debt Like Iceland

How much of the Greek debt do you have a taste for Frau Merkel?

ATHENS – Greece – "What debt? We don't owe anyone anything? You people must be having a larf?" Greece's finance minister told Reuters yesterday.

Even though the Greek debt levels are 170% of their GDP, their infrastructure is shot to shit, and their bonds are worth less than junk status, Greece still soldiers on amidst the torrent of messages signalling that they should get out of the euro as soon as possible.

Forget about butter and sugar mountains that rich EU states like Germany are flouting, Greece’s huge debt mountain is even bigger than Mount Olympus.

“It is kind of ironic that the place where the birth of democracy is sited should be a place that will destroy the Fascistic EU, with its single currency state,” a political commentator from Brussels told the BBC.

It’s not just the Greek finance minister, or other Greek hierarchy who deny there is a problem, the unelected EU technocrats are also denying vehemently that there is any ounce of Greek debt that cannot be dealt with.

Servicing the Greek debt involves paying more in interest payments alone than the yearly income of Greece. There is no way in hell they will be able to re-pay the extra loans they have received, and what’s more, there is the further issue of the majority of the Greek population, who do not pay tax, and retire at the age of 45 with full state pensions and other EU subsidies.

“Let the Germans pay for it”

Nikos Malineros, 38, is a government officer from Athens: “I work two days a week, then the rest are my days off, all paid for by EU subsidies and what little tax payers we have in Greece. I’m set to retire in a few years with a full salary pension and I even receive bonuses each year if I attend more than one day a week at my post as chief of Municipal Aggregation.”

After the smouldering ruins of the Greek economy fade away into the darkness, the ghosts of the great Socrates, Homer and Plato will smile knowing that Greece has dealt a divisive blow upon the un-democratic Achilles heel of the evil EU juggernaut.

“We as Greeks first gave the EU a wooden horse as a gift. Then we breached their walls with our huge debt and moribund state. We lied to get into the rich club, then we squandered the EU subsidies and spent like there was no tomorrow. Now look at the EU, they are teetering on the edge of a huge precipice to be smashed on the rocks. By Zeus, we have smote the mighty Kraken with one fell swoop,” Stavros Acropolis, a shop owner from Athens told Axiaplus news.

Don’t worry, just drink some more ouzo, short the euro, and smash a few more plates, it will all be over soon.

  • oddy

    I love Greece and what they have done to the euro is brilliant. Viva Greece, you guys are the best.

  • lol

    Beware of Greeks bearing debts!!!!

  • Spiros Kontogiorgis

    I am dissappointed by this article and your views on what is going on at the moment. I was expecting a serious person to write about this and I was expecting more from dailysquib.

    Your facts are completely wrong and your undestanding is obviously limited to your 1-week holiday experience 20 years ago in Corfu. The only right view is that Greece should get out of the Euro asap which would help both the country and the Europen Union as a whole.

  • Vasilis

    The entire article is quite exaggerating. Most people here, do not have income and live from what their savings.They didnot lead a glamorous life in the ast either.

    The German exports,due to downsizing, are the greek,spanish imports. We see the dark side of Eurozone,and it is completely racist to accuse a whole nation about the eurozone inefficiencies.

    You cannot copy zorba stereotypes. Have you ever seen how is life in Athens,Thessaloniki etc?

    Euro statistics show that greeks work more hours than the average.

    The above article is totally NEORACIST

  • Timon

    We're starting to stockpile food here. Many of my friends are ready as well because we see anarchy soon here. It is the every day people who will suffer. The rich can flee many will have to stay behind.

  • Elgrecko

    Open your eyes Greece was just the begining .. WAKE UP before is to late same stuff will come to countrys with small and weak economies .. Open your eyes PLEASE

  • karma chamaleon

    Everyone's laughing at the Germans what a bunch of suckers.. hahah! Pay up dummies cuz they'll spend more of your pensions and savings…

  • No more pay

    The EU needs to cut this baby loose ASAP. The longer Greece stays in the euro the deeper the contagion and damage to the EU. The EU has two choices, survive by chucking out Greece or eat the big one by keeping it. It's like a tumor, do you want to keep it and die or cut it out and live. The choice is yours EU.

  • Monty

    Greek debt is un-repayable unless the time period stretches to 70+ years. This is the future of Greece in a bureaucracy known as the EU.

    By no stretch of the imagination can the Greeks repay the sovereign debt. Even at zero percent interest the debt could not be repaid within forty years – disregarding inflation. The country is quite simply stuffed and the secondary market for bonds is becoming freaked out that the ECB might finally wake up and stop throwing good money after bad. The whole euro project has proven a catastrophe. Northern European savers and pensioners are about to be scalped though it won't be marketed like that. The ECB has been a total letdown. No guidance, no vision and not cleverness. Come the Autumn the euro will have made forex dealers very wealthy.

  • Charles Ingram

    sold from 1.4900 made a serious packet. Weekly chart says this one's going all the way down so get on the train while it's still at the station.

  • Dierk

    Beware of Greeks accepting gifts.

  • Tapper

    Leaving the euro is the only option left for Greece now. When they leave it will be a relief for the others who want to leave as well.