Enough is enough

The Herald reports:

Greece was on the brink of economic meltdown as Germany looked poised to push the country out of the eurozone.

With Greece about to default on a 1.5 billion ($2.4 billion) debt repayment, senior German politicians warned “enough is enough”. The Greek debt negotiations collapsed after just 45 minutes, amid fears Athens is now heading towards financial catastrophe.

Despite condemnation from European leaders following the breakup of the talks, Greek Prime Minister Alexis Tsipras, said: “We will patiently wait until creditors turn to realism.” He claimed the talks collapsed because European creditors wanted to slash Greek pensions and workers’ wages.

Greece can set their pensions and wages at whatever level they want. But they need to pay for them out of their own revenue, not out of money borrowed from others. It’s that simple.