Greece sinking into lost obligation

News:

The BBC gave an account of twelfth May, 2015, that the Greek obligation emergency “has become desperate” and compared Greece's obligation repayment issues as “a knife to the throat”. The report depicted how Greece made the most recent obligation repayment of €750 million to the International Monetary Fund (IMF) by “using a buffer account held at the IMF itself” in the face of such a great cash flow issue that the government additionally had to ask for cash from “local governments and other public bodies”!

Remark:

It is believed that Greece paid €650 million of its €750 million obligation payment to the IMF from a limited IMF account, which genuinely exhibits the distress that the media has portrayed. It is similar to somebody stealing from you to pay you back for an obligation owed! This liquidity emergency is required to continue for the following couple of weeks as more obligation repayment dates get to be expected, and arrangements for the final installment of €240 billion in help to Greece from the EU help program. This installment is justified regardless of 320 times more than the expense of the most recent obligation installment, which serves to explain why Greece would utilize such urgent intends to pay, which likewise included the non-payment of most government suppliers since January as well as the withholding of vocation payments.

In addition to begging for cash, at home and abroad, Greece has experienced different embarrassments stemming its present shortcoming. Case in point, in spite of having battled for quite a long while to recover Greek heritage artifacts, The Gatekeeper has now reported that “Greece drops option of legal action in British Museum Parthenon marbles row”. With Greece now subordinate upon the leniency of its lenders to prevent bankruptcy, its national pride is being yielded. Different stories are additionally appearing in the press that expose strategic pressures being set upon Greece to trade off on past duties best its national improvement.

With Greece sinking into lost obligation, the individuals who loaned it cash will have an increasingly free hand to take advantage of Greek shortcoming in the way of a pack of wolves closing in on a depleted creature. Such is capitalism.
Capitalism guarantees the development of cash and national thriving through an interest-based economy, however while the capitalist safeguards shed no tears for the winners and washouts amongst individuals, what will happen to the world economy when whole nations or even continents breakdown into bankruptcy casts dread into their souls? The risks to the European and world economy are great to the point that Greece's leasers have continued financing Greece's bad obligations for a long time, yet the coming weeks will put Greece and her European loan bosses to an awesome test of nerves.