Hey, don't underestimate Greece in WWII. They had one of the first meaningful allied victories. They refused to surrender to the Italians, who had an overwhelming military compared to the Greeks. And when the Italians invaded, the Greeks not only stopped them, but pushed the Italian army into Albania. Winston Churchill said of this victory: "We will not say thereafter that the Greeks fight like heroes, but heroes fight like the Greeks! " Took the Germans a couple months to take Greece - France took two weeks. Some say the German invasion delayed Operation Barbarossa - the invasion of Russia, and thus the Germans faced the same winter Napolean did.
This is true, excellent post. The Germans were met with strong resistance especially during the invasion of the island of Crete and that delayed their plans for capturing oil fields in Middle East considerably. It also caused Germans considerable losses and a delay in invading Russia. I am not sure if Germans ever forgot that...Some of the facts are given in this book: http://cretashop.gr/br/productsbr/booksbr/9607296354br.htm Now back to economics. Where do you think the money Greeks borrowed went? They mostly went into buying German and French products, as well as, US, French, and German military equipment because they are under constant fear of invansion from Turkey. I mean we should never forget that borrowed money does not vanish. It goes some place and the Greek debt mainly financed the production of Germans and US military industry. But I think the biggest problem is Spain. Spain is 10 times Greece and it will be very difficult to bail out without going into printing mode. Hence, the fall in EURUSD. Markets discount an eventual and inevitable printing of money.
hahaha... The old good time... where you could see your ennemy... With debt it's smarter, the ennemy is the one taking it. Worst it's not a "now situation", there is no fog of war in debt. Everyone knows what he will have to pay back. Everything is written... well before the repayments... And there isn't a smart move, or a genius action by the opponents... Greeks are alone facing their highness, they wanted to borrow, here they are... Let's see if they can prove to the working europeans that they have the capacity to play the game. And not bitching that they are victims of "rumors" about their incapacity to honnor the contracts. Hooohh oohhh... poor dudes... ahahah again. Don't even dare to compare Spain and Portugal to Greece. Why ? Languages and South America Connection. Big Assest for Europeans. Greek on the other hand ? Nice Islands for vacation, but too windy for exclusives consummers...
You mean windy literally? I was in Myconos a few years back and I can tell you it was just too windy, non-stop, all day long. Perfect place for wind power systems though.
Spain and Portugal are global pioneers in renewable energy use as well due to the favourable weather conditions. Problem today probably is the technology not being sufficient enough to provide superior economic advantage. Will it ever? Who knows.
That's the Aegean Sea - yes, it's very windy. The Ionian Sea and Islands are very different - not as windy, have a mild rainy winter so are green year-round. Decent size cities on Corfu and Kefalonia too.
Its boiling over: http://www.guardian.co.uk/world/2010/jan/31/greece-public-anger-economic-crisis-papandreou