Originally posted by quackquack
Creditors have certain rights and the government wanted to avoid a default which would presumably ruin their economy. They need an infusion of money and to get new money from their week financial position they had to reform some of their irresponsible economic ways. Greece could have refused the conditions and let their economy collapse. They did not. Instead they made a deal. They are big boys and there should be no crying about deals.
creditors have what rights? they do not have any right to dictate the policies of a
company to whom they have given money, the only rights that they have is to
reclaim the value of that money on liquidation, through the sale of assets etc etc,
usually given as a percentage of the initial sum they invested.
If you give your money to a bank, the government of Greece, your friend, the
money is no longer yours, its is the banks, the Government of Greece and your
friends money, you have no say on what your bank, the government of Greece or
your friend does with the value of that money, that is why its a nonsense for you to
state that creditors have rights in this context. You are failing to get the point, the
Greeks are not only protesting against the terms of the so called, 'deal', they are
protesting against the erosion of democratic rights, having creditors impose a policy
upon them, which is entirely without precedent.