Reminds me of the Beppe Grillo article yesterday,
“This debt is im-mo-ral. Actually, it’s not the debt of the Italian nation – or Greek for that matter. It’s a debt that had accumulated from corrupt deals, arms sales, it’s debt to Siemens or international arms corporations that sold Greece their submarines. There were many deals like this one, and people didn’t know anything about them.”
There are 20 reasons Greece shouldn’t pay. That’s one of them. What about the legal rule that says ignoring totally obvious bankruptcy is fraud, and therefore, fraudulently conveying additional debt onto a bankrupt entity has no force of law? Because that’s already a well established precedent, worldwide.
If it weren’t, the smartest thing to do would be to start a company, bankrupt it by not paying, then collude with the bankruptcy judge to double its debt again under shelter of law. In which case, the entire societal trust system would collapse. …Which is exactly what has happened in Greece-EU, for exactly the same reason: fraud, theft, and tyranny under color of law means everyone now understands there is no law.
Sorry, the comment form is closed at this time.