Euro Area

[Beskar]

I kick myself for not getting the joke :P

Basically there was a consensus from all the nations to funnel a percentage of their GDP (I believe it is 0.75%?) to help develop infrastructure and aid to Third World countries in order to better the conditions in those areas. The facepalm side of it is that much of the money ended up going to nations such as Serbia and Turkey which are 'relatively rich' / middle-income nations.

Fragony was saying the benefit of Greece being classed as third-world is that the money from this funding could go there instead, which means for north and western nations, they don't get "charged anymore" for helping Greece as the money is simply reallocated from that. Which is why Fragony said it is tempting.

The NGO reference is referring to those oxfam, cadfod, etc adverts on TV, as these charities receive money from the funds to provide aid in their areas of concern. These NGO would get upset as they would lose out on a lot of money as it ends up reallocated to Greece.