I don't think anybody sees Greece as innocent of creating the debt. But.
1. The ones bailed out have been private bankers, by public funds.
2. Austerity, demanded as the cure for deficit spending, has dragged Greece into a recession and achieved exactly none of its aims - spending is still high as a proportion of GDP, because GDP has crashed.
3. The creditors have stopped demanding austerity as a policy aimed at creating a viable economy, and switched to demanding it to punish the greeks for populist leftism, and to contain the anti-austerity parties in Europe, and because they have unprofessional snits against Tsipras.
4. The only sane answer is to write off a huge swathe of the debt, as patently irrecoverable, inject capital, give a decade long holiday from repayments, and let the Greek economy recover.
5. Only a NO vote could lead to this being on the table.
Point 4 is sane? Greece doesn't seem interested in repaying their debt now, you think they're going to care in 10 years after just writing some of it off? Why won't they expect the rest to go away too? I think a lot of the "no" voters simply don't see any services from their government to justify their taxes, they already avoid taxes at endemic levels, and fundamentally don't actually feel any ownership for the debt.
Moreover, can their economy recover without outside help? What does that actually look like? That's the bigger issue, any way you slice it, they got really used to making promises and living larger than they are. The wish or risk or whatever is that the ECB will want to recover some of that debt and in exchange for that wish, write off a large chunk of it and then continue to give them handouts. What does a viable Greek economy actually look like?
1. The ones bailed out have been private bankers, by public funds.
2. Austerity, demanded as the cure for deficit spending, has dragged Greece into a recession and achieved exactly none of its aims - spending is still high as a proportion of GDP, because GDP has crashed.
3. The creditors have stopped demanding austerity as a policy aimed at creating a viable economy, and switched to demanding it to punish the greeks for populist leftism, and to contain the anti-austerity parties in Europe, and because they have unprofessional snits against Tsipras.
4. The only sane answer is to write off a huge swathe of the debt, as patently irrecoverable, inject capital, give a decade long holiday from repayments, and let the Greek economy recover.
5. Only a NO vote could lead to this being on the table.