Quote from Martinghoul: You're wrong, TZ... You have to realize that the EuroZone has been a dream of several generations of Germans (and the French, to a lesser extent). I don't see anything in here that says I am "wrong." I see someone's belief about this without sourcing any proof. "Whether it's the result of post-WWII trauma or something else doesn't matter, but the Germans and the French are prepared to "help" Greece (obviously, with strings attached). The issue isn't with Greece and Portugal, which would both be cheap to deal with. It's Spain and, god forbid, Italy, which have economies almost three times and six times the size of Greece, respectively. " Which leads back to the basic point I said originally. Why would the citizens of Germany or other European countries want to bail out other europeans? West Germany took on East Germany and its poverty and problems, because they were also Germans. But few people want to give away m The Eurozone and the EU had their requirements. Not all European countries joined them. And I suspect that the citizens of the more stable members of these are not in a hurry to spend their tax dollars fixing other countries current problems.
Fine... It's my view that you're wrong. As to proof, there can be nothing tangible until there's action. I'd only quote what the various German/French politicians (not ECB gov council members) have said re Greece being a common EU responsibility.
True indeed. Once they deny a bailout to Greece, this will have a serious ripple effect throughout EU, hitting especially hard among the economic outliers like Latvia and Malta. Once that happens, it's just a matter of time before the whole damn thing craters. Even if just one nation like Greece defaults, that will have a devastating effect on the currency (Euro) sending shockwaves throughout the whole region, if not the entire globe. These nations have no other choice but the bail out their incompetent brethren.
France itself has defaulted 7 times on it's debt these last 500 years. It wasnt the end of the world then and it won't be the end of the world this time around.
Only reason the EU was created was out of spite for the US. It was doomed to fail from it inception. Europe has never gone more then a couple of generations without some type of War so how people ever thought this was going to work is beyond me.
but what would be the consequence if they get kick out? And since IMF has the means to bail out Iceland, there is no reason to believe IMF will watch Greece die. And when Iceland folds, not a huge influence as far as the US market is concern the next day
Why would the IMF bail out Greece? So they can next bail out Portugal, Spain, Italy, Japan, the USA, and everyone else who cannot manage their finances?
I went to spain, and i dont understand how these slackers live, 20% unemployment rate, and every night hopping arnd for tapas and drinking sangria
US propaganda machinery distracting from home made problems. Greece, Spain, Portugal defaulting ? What a joke ! EUR losing some ground ? Sarkozy and Germany say thank you.