...But…alas…Greece’s leaders have a brilliant idea to solve all of these lingering problems and, of course, it has to do with money printing. Greece has suggested that the Euro-Zone’s central bank [ECB] simply purchase most of Greece’s near term [5 years] maturity debt and actually deliver the proceeds back to Greece.
Greece’s message to the Euro-Zone amounts to…since you are starting an indefinite debt monetization program in just two short months…why not include us in the money printing party too even though our ability to repay our obligations is essentially zero? Hey…we’ll even pay for the paper and ink….with the money you've already given to us.