A Quote by Douglas Wilder
Greece's European neighbors were able step in and bolster the weak foundation on which Greece's free-spending budget was based. It would be difficult for any country, or intergovernmental organization, to rescue an economy the size of the U.S. if investors were ever to lose faith in our bonds because of our enormous debt.
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We have a debt the size of our economy, which makes us look a lot like Greece.
It was very important for us to hear that both European governments and the IMF are going to sustain and augment their commitment to Greece because they don't pursue the debt reduction route. They're actually extending more debt, more loans to Greece.
We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.
Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long time were major creditors for Greece and Greek banks.
Greeks have to know that they are not alone ... Those who are fighting for the survivor of Greece inside the Euro area are deeply harmed by the impression floating around in the Greek public opinion that Greece is a victim. Greece is a member of the EU and the euro. I want Greece to be a constructive member of the Union because the EU is also benefiting from Greece.
We can't equate spending on veterans with spending on defense. Our strength is not just in the size of our defense budget, but in the size of our hearts, in the size of our gratitude for their sacrifice. And that's not just measured in words or gestures.
Greece is not a country that can be humiliated. It is a matter of finding an intersection between the reasonable elements of both sides [EU and Greece] which has to be done.
I will continue to urge creditors to take the steps needed to put Greece on a path towards a durable economic recovery because it's in all of our interests that Greece succeeds.
I would caution against fueling cheap populism. First of all, every German who has spent a vacation in Greece knows that the standard of living there isn't higher than it is in Germany. Second, Greece is paying a high price for European assistance.
We won't get any growth in Greece by just imposing cuts. What I would prefer is a special economic zone for Greece.
Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.
Greece is an extreme case: a country where both the level of spending and the level of taxation were unsustainable!
Student journeys which were important to me were Sicily, Greece, and Egypt, where I really saw these buildings, and that is where you're able to grasp what things mean.
To reduce deficit spending and our enormous debt, you reign in spending. You cut the budget. You don't take more from the private sector and grow government with it. And that's exactly what Obama has in mind with this expiration of Bush tax cuts proposal of his.
Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.
Look at Ukraine. Its currency, the hernia, is plunging. The euro is really in a problem. Greece is problematic as to whether it can pay the IMF, which is threatening not to be part of the troika with the European Central Bank and the European Union making more loans to enable Greece to pay the bondholders and the banks. Britain is having a referendum as to whether to withdraw from the European Union, and it looks more and more like it may do so. So the world's politics are in turmoil.
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