Discussion in 'Economics' started by Banjo, Feb 10, 2012.
i think they'll announce withdrawal from the EUR during this weekend.
Doubt it. They will throw money at them to keep them in. I think the EU finance ministers are bluffing.
the police only have to stand aside and conveniently let the riots get out of hand without judiciarily get into trouble while getting at the officials
That is how I see it. I love it how the Germans just expelled the Syrian staff. They just wanted to look like they are on the side of the globalization process. The carbon scheme and entire ISO system requirements were nothing more than a play for power. They fail to see that work is a way out financial situation and not law fare, trade sanctions, protectionist measures and phantom accounting. The EU will always bluff because it is less work. The Americans and Chinese are just waiting to swoop in to buy sovereign debt at a good discount. American corporations have enough cash to take a large portion of the EU economy. This goes to show that socialism does not work and only will break the banks of a nation state.
Past glory does not pay bills,
How about they arrest the Greek politicians first, then the Union leaders - they seem the ones to blame in this tradegy.
The EU has played a poor game. Yet they seem to not care.
it appears, the vast majority of greek people don't want to be in the EUR anymore. keep in mind the EUR lead them to nearly 40% unemployment rate.
it is evident that a currency as the EUR is not tailored to an economy as theirs.
it looks like everybody knows this already but none wants to make the call because the implications and risks involved for the world's economy.
either way, i don't see any other alternative than withdrawal for them. it is just a question of time.
the wise approach is to let them default on their debt and restart with the drachma. the IB's already accepted an haircut of 70% of greek's holding, so there's no big difference in offsetting an additional 30% on their books.
One thing I think they are worried about with Greece is its implications on the other troubled states. If they leave other countries may want to leave and this loss is not affordable.
Bingo. This is less about Greece than it is keeping the rest of the PIIG's from defaulting.
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