I read it, it's a bunch of nonsense and vague statements about future reforms.... sure, sure.
The reality is that Greece needs to be booted out of EU. German people are not interested in donating (and lets be clear, this is a donation, not a loan) more money to the Greeks standing with their hands out.
Without this bailout Greece would be forced to implement government spending cuts that would reform the economy and make it self sustainable. With this bailout this same exact problem, only with much larger numbers is going to replay itself a few years down the road. There is no escape - living on a handout does not produce any wealth, does not create a working economy, it simply creates even more culture of dependency and that culture will never go away until it is forced to simply by lack of free money.
Without the free money Greeks would restructure their economy. With the free money Greeks will do nothing but spend the money and ask for more. That document is for show, it means nothing.
Now, if you wanted a REAL document and a solution, Greece would be forced to repay at least some of its debts by selling its assets immediately. Then they could restructure the debt, pay 60 cents on the dollar or 30 cents on the dollar, doesn't matter. But they would truly display willingness to work with the lenders.
What this is here, it is the display of denial from the Greeks and it is display of weakness from the Germans who cannot reign in their crazy government that is stealing from the Germans.
If Greeks want charity, they should ask for charity from those same Germans. If Greeks want a real economy, they should build their economy by eliminating their unsustainable government programs and reducing their taxes.
The real austerity comes in the form of very low taxes and very little government and without this there will be no rebuilding of the economy.
I said this before and my comments went up to +5 and then to 0 and back to +5 and back to 0 and then to +5 and now to 2 I think (or whatever it is at the moment).
Clearly this is a contentious issue, but it is the only solution. Moderating my comments lower does not change reality, it only prevents me from replying to other comments, so it's your call whether you want me to reply to other comments (even in this thread) or not.