A Voluntary Relegation For The PIIGS?

Discussion in 'Economics' started by Ultracruncher, Jun 27, 2011.

  1. Lets face it, a Greek default will happen. They may not call it a default but it will be a default all the same.

    Throwing good money into these black holes is a waste. I do believe that Germany and France are working hard behind the scenes not so much to help Greece but to lay the ground work down to protect their banking systems for the inevitable default...

    Here is an idea: Why not pay the PIGGS to voluntarily leave the euro? An official process and mechanism can be set up for an orderly departure...

    In the English Premier Football league, the bottom three clubs are relegated to the lower division. Realizing the huge financial 'kick up the ass' this represents to the departing clubs, a series of parachute payments are made over the course of three years to help ease the burden.

    The euro experiment has failed. Now damage control needs to be set in motion. The bond holders wont like it...so what!