Greece, like Romania over a decade ago, is advised to announce adefault on its payments by the most powerful members of the eurozone. Ironically enough, in 1997 Romania managed to avoid a defaultthanks to the money received from the privatisation of nationalfixed telephony operator, sold to Greece-based OTE.
"I remember that time as being extremely tense, with peopleanxiously waiting for the money from Romtelecom's privatisation tocome in throughout 1997, when all rating agencies were forecastingRomania would default on its payments," remembers Ion Nestor, oneof the most respected lawyers in Romania.
Romania was saved by money from Athens over a decade ago, butwho will save the Greeks now?
Greece should accept the need to default on its payments, whichcould serve as an example to the other ailing countries, said ThiloSarrazin, a member of the managing board of Germany's central bank,cited by Les Echos.
However, there are also optimists, who believe Greece can decideon its own what the best solution is.
"There is general confusion," Daniel Gros, director of thecentre for European Policy Studies in Brussels, was quoted assaying by Bloomberg. "Maybe politicians from France and Germanyshould stay silent a bit. Greece is a sovereign country and will dowhat it wants to."
