Greece and creditors fail in 'last attempt' to reach deal

[Little Tich]

Source: Yahoo! News / Reuters

BRUSSELS/ATHENS (Reuters) - Talks on ending a deadlock between Greece and its international creditors broke up in failure on Sunday, with European leaders venting their frustration as Athens stumbled closer toward a debt default that threatens its future in the euro.

European Union officials blamed the collapse on Athens, saying it had failed to offer anything new to secure the funding it needs to repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund by the end of this month.

Greece retorted it was still ready to talk, but that EU and IMF officials had said they were not authorized to negotiate further. Athens insists it will never give in to demands for more pension and wage cuts.

"This is very disappointing and sad. It was a last attempt to bridge our differences but the gap is too large. One can discuss a gap, but this is an ocean," said a person who was close to the talks.

Read more: http://news.yahoo.com/greeks-seek-debt-relief-eu-steps-warnings-104038579--sector.html

[bluestateguy]

1. Tomorrow will be a fun day on Wall Street

nt

[Rossi]

2. The Rio-Antirrio Bridge was awfully expensive.

It was a huge project begun in the '90s. It does relieve the traffic congestion to the Peloponnese via Corinth, but it cost plenty.

\
Then there was the new Athens Airport, begun in 2001.



Not to knock the Greeks, but their government did go on a borrow-spend binge that has contributed to their current economic problem.

[Joe Shlabotnik]

4. They did the bankers bidding.

They borrowed on the national debt, developed area, and then sold them back investors (ie the banks). Dirty work done on the back of proles.

[Rossi]

5. Yep. I checked and here's what I found.

AIA (Athens International Airport) is a pioneer international Public-Private Partnership, being the first major greenfield airport with the participation of the private sector. The cost for the development of the airport was financed mainly from bank loans - with European Investment Bank being the major lender, while the remaining funding was provided through private shareholders equity and EU and Greek State grants.

https://www.aia.gr/company-and-business/the-company/the-airport-company/

[dixiegrrrrl]

7. Plus Greek people are long long notorious for avoiding paying taxes.n/t

[OnlinePoker]

3. Somehow, I don't think this will be the last we hear before the end of month. n/t

They'll keep having meetings right through to the end and may hammer something out at the last minute.

[turbinetree]

6. They need to bring

the blood sucking octopus Goldman Sach's to the table and tell them right to there face, you hedged our pensions and wages for a fee and with the help of the EU, Germany, France, to create a libertarian state of austerity and it failure -----------------we will not be like Kansas, Wisconsin for starters

http://www.alternet.org/story/153795/vampire_hedge_funds_are_sucking_greece_dry