Comment Re:Sunk cost fallacy (Score 1) 485
"Even we forgave all of Greece's debts. They would still be in the negative."
Wrong. They had a primary surplus last year and could easily reestablish it now. They only need money to pay interest and rollover their existing mountain of debt that periodically comes to maturity.
Put it this way: you are spending less than your monthly expenses (primary surplus), but you have a HUGE loan outstanding and you need to pay it off next month when it's due. The eurozone is demanding all this retribution just so that Greece can rollover its debt (i.e. - pay it off with new debt establishing a new payoff date). Meanwhile they collect interest the whole time on the outstanding debt. Not too bad a deal for Europe so long as Greece doesn't default.
"The reason they haven't gone bankrupt is because they CAN NOT AFFORD IT. They are that fucked up!!"
Wrong again. If they cancelled their debt, then they wouldn't need to borrow another euro for anything. But they'd be kicked out of the eurozone. Well, technically their banks would be insolvent and the ECB wouldn't give them any more euros. Six of one, a half dozen of the other.