What the EU/ECB demanded (and apparently got) is for the government to sell public assets (the things that all Greeks own collectively) and use that money to pay the banksters.
This is a direct financial rape of the Greek people and should be met with immediate refusal - not acceptance - by the Greek population.
Look, the budget has to be slashed. This is unavoidable and simply must happen. The GDP hit will be real, it will be large, and it is unavoidable. It must be accepted, becasue there is no other choice.
The same dynamic, incidentally, holds true here in the United States.
But - and this is very important - neither Greece or the US should sell anything to pay these banksters. They knew damn well what the revenue and tax picture looked like when they loaned the money. Sovereigns never borrow "secured", and allowing this precedent to be set is ruinous. In fact, there's an argument to be made that this sort of move by the government of a nation amounts to treason.
We'll see how this all works out; I suspect this is yet more can-kicking without a prayer in Hell of success.
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