The Daily Mail: Reports " Greece is NOT going to pay back its 1.6billion Euro loan instalment tomorrow a government official confirms as banks are closed and cash withdrawals limited "
Lets Get Real:
Thus the Greeks will be in default what ever the IMF call it, they should be treated harshly, otherwise the idea will get formed in other Countries that they can spend on welfare and the German tax payer will pick up the tap, the EU/IMF can not allow the idea to form that Countries can default on their loans and there are no results. The whole system could be called in to question if the Greeks are let off their debts. The Euro will not last if the German taxpayer has enough, who else will get their wallet out to bailout the EU. This economic harshness is needed, there has to be a clear message, if you spend to much as the Gordon Brown government did between 2007/10 there are bad results for the Country and political parties, the UK went through a deep recession and the Labour Party has lost two general elections, one in 2010 and 2015.
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