Coercion

People don’t realize this but the root of that term is actually found in the Greek word for “volunteer”

(Reuters) – Greek Prime Minister Lucas Papademos said he will consider legislation forcing the country’s creditors to take losses on their holdings if no agreement can be reached in critical negotiations set to resume on Wednesday, the New York Times reported.

…Papademos said that if Greece did not receive 100 percent participation in a program in which bondholders would voluntarily write down $130 billion from Greece’s $450 billion debt, the country would consider passing a law to require the holdouts to take losses.

Seriously, why would anyone, anywhere, ever ever consider lending any of these countries a dime again?

Obviously politicians will quite merrily throw your tax dollars at them; that’s a given.

categories Biz, Morality, Nanny State, People, Politics | | datetime January 18, 2012 7:22 am

5 Responses to “Coercion”

  1. JeffS says:
    January 18, 2012 at 8:57 am

    Technically, I believe that’s known as “stealing” or “theft”.

    And why would anyone loan ANY nation a dime should this go through? It’s a very bad precedent.

  2. major dad says:
    January 18, 2012 at 9:37 am

    Wait till the IMF gives them some of our money, it’s gonna happen.

  3. mojo says:
    January 18, 2012 at 11:38 am

    Hence the “fiat” in “fiat currency”…

  4. Mr. Bingley says:
    January 18, 2012 at 11:49 am

    I thought “Fiat currency” was only accepted in Italy?

  5. Gary from Jersey says:
    January 18, 2012 at 1:08 pm

    This is the same Greece that just gave welfare to child abusers, so it makes sense.

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