It seems to me that they never had a way of paying it back... Lending money to someone who can't pay is never a good deal. This article summarizes the crisis, including a brief answer to your question at the end.
The problem is not paying it back, is that is not possible to pay that level of debt. This is not a economic problem, is a political one, if Syriza is triumphant and gets the funds without pain then leftist movements will arise in Europe, and neither the right parties or the financial institutions wants that.
Greece will get funding sooner or later, the fmi and rest of creditors just want Greece ( or Syriza if you want) to suffer before give it to them, and Syriza knows that, so they are forcing his hand. If Greece leaves the Eurozone ( is not going to happen) then the rest of PIGS (Portugal, Spain, Italy) are going to fall with them, and the eurozone can´t afford that.
Someone explain this to me. If they were loaned the money, what's the problem with paying it back?
It seems to me that they never had a way of paying it back... Lending money to someone who can't pay is never a good deal. This article summarizes the crisis, including a brief answer to your question at the end.
The problem is not paying it back, is that is not possible to pay that level of debt. This is not a economic problem, is a political one, if Syriza is triumphant and gets the funds without pain then leftist movements will arise in Europe, and neither the right parties or the financial institutions wants that.
Greece will get funding sooner or later, the fmi and rest of creditors just want Greece ( or Syriza if you want) to suffer before give it to them, and Syriza knows that, so they are forcing his hand. If Greece leaves the Eurozone ( is not going to happen) then the rest of PIGS (Portugal, Spain, Italy) are going to fall with them, and the eurozone can´t afford that.
Sorry for any typos.