tag:blogger.com,1999:blog-4102429195693595750.post6909932708055491378..comments2024-03-22T05:15:17.042+02:00Comments on Sudden Debt: Greek Banking: Part III, The Moonshine BluesHellasioushttp://www.blogger.com/profile/03564511281240682625noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4102429195693595750.post-30061733128368475372017-11-12T19:07:06.369+02:002017-11-12T19:07:06.369+02:00I hear what you are saying Lord Blagger.. however,...I hear what you are saying Lord Blagger.. however, a future pension obligation is not the same as debt, though many people think so.<br /><br />Debt is an obligation that is monetized, e.g. a bond issued and sold for cash in the market or a loan from a bank. <br /><br />Government debt is certainly huge in Greece, now mostly owed to other Eurozone governments.<br /><br />Hellasioushttps://www.blogger.com/profile/03564511281240682625noreply@blogger.comtag:blogger.com,1999:blog-4102429195693595750.post-58035201675919373622017-11-12T15:30:34.525+02:002017-11-12T15:30:34.525+02:00All well and good, but you're worrying and scr...All well and good, but you're worrying and screaming about a mouse in the room. <br /><br />You've failed to notice the herd of stampeding elephants, and that is state debt. 90% of that is pensions, the rest borrowing. 10 times your borrowing is owed as pensions and the Greek state is increasing that as it takes on more and more pension commitments. <br /><br />On the bank bailout its simple. Who pays? Someone has to pay its just the choice of who is made poorer. <br /><br />Any sensible Greek would have moved their assets into say Germany and just keep their day to day money in Greece, along with any debts. Lord Blaggerhttps://www.blogger.com/profile/06783119146180259097noreply@blogger.com