How can a nation unable to pay its debts be any better off by having more debt piled on it?
Sure, with an influx of fresh cash, it can for a time pay its bills but ultimately it has to go out for more fresh cash to keep paying its bills. Correct me if I'm wrong but isn't this a Ponzi Scheme? And as with all Ponzi Schemes, what happens when the amount of money needed to be raised grows so large, that it becomes impossible to raise it? Just a few thoughts dear reader.
Dick
http://www.nytimes.com/2012/02/22/world/europe/euro-zone-leaders-agree-on-new-greek-bailout.html?nl=todaysheadlines&emc=tha22
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