Greece

[Whitespirit66]

Just maybe, the Eurocrats are dreading the Greeks bailing out of the Euro, and coming back with a bargain-basement, devalued Drachma. Then they slowly claw their way back to some sort of Euro-free stability and other weak Eurozone countries think that they will have some of that. Then gradually, the Eurozone becomes irrelevant.

Alternatively, the Greckos could adopt the pound, or even the USD like Equador did.

Is there any chance that to solve the short term problems, Demis Roussos and Nana Mouskouri could do a Live Aid type concert to save their countrymen? Demis was really big in the 70s?

Seriously though, could all be over for the Greeks if they are having a run on their banks. They will be really $hitting themselves if they see Bob Geldof and Orla Guerin arriving at Athens Airport.

 

[EddieM]

who would lend them money?

Why would they need to borrow money, turn the printing press's on,we have the US has so its possible.

Errm, how would you buy anything? Difference between greece and the US/UK QE, it that we printed our own currency backed by selling bonds. Greece would be printing an entirely worthless, none exchangable currency. Hyper inflation would result.

 

[enyam]

who would lend them money?

Why would they need to borrow money, turn the printing press's on,we have the US has so its possible.

Errm, how would you buy anything? Difference between greece and the US/UK QE, it that we printed our own currency backed by selling bonds. Greece would be printing an entirely worthless, none exchangable currency. Hyper inflation would result.

That maybe the case but Greece won't be allowed to jump ship Merkel and her cohorts will be falling over themselves to ensure that the dream live's on.
There is already talk of allowing an extension of the bail out programme.

 

[JohnD]

There is a very strong voice among the German electorate that says "Why should we work hard, save, and live within our means, in order to make loans to profligate wastrels who **** our money up the wall, have no sense of responsibility, and will not pay us back?"

If you were a German taxpayer, would you want to do it?

If you were a German voter, would you put Angela back in power if she did?

 

[joe-90]

You are the europhile John. Do you still believe in Europe?

 

[EddieM]

That maybe the case but Greece won't be allowed to jump ship

There may be no other choice, cut out the cancer, to save the patient.

 

[anobium]

That maybe the case but Greece won't be allowed to jump ship

There may be no other choice, cut out the cancer, to save the patient.

Couldn't agree more, then sit back and watch the effects of hyper inflation, mass unemployment, etc, etc
Then, just watch Spain, Ireland, and Italy get their houses in order,
Whats that saying, "fear concentrates the mind wonderfully".
Problem solved.

 

[joe-90]

They can't get their houses in order as all their customers are bust - the UK will go the way of Greece too.

 

[enyam]

They can't get their houses in order as all their customers are bust - the UK will go the way of Greece too.

With the weather to match at the moment.
Greece are an irritation the problem is Spain.

 

[joe-90]

Aren't Spain hosting the next Olympics? Must have lots of money.

 

[JohnD]

I see from the financial press that banks are now trying to match their assets and liabilities inside each individual country, just in case.

This might mean that the idea of the Eurozone as a single entity, with loans and interest rates all the same, might be on the way out.

If you are a cautious and prudent person, it's difficult to share a joint account with someone who is an irresponsible spendthrift.

I also hear that Spain is going to try not to win the Eurovision Song Contest.

 

[pred]

Just maybe, the Eurocrats are dreading the Greeks bailing out of the Euro, and coming back with a bargain-basement, devalued Drachma. Then they slowly claw their way back to some sort of Euro-free stability and other weak Eurozone countries think that they will have some of that. Then gradually, the Eurozone becomes irrelevant.

Alternatively, the Greckos could adopt the pound, or even the USD like Equador did.

Is there any chance that to solve the short term problems, Demis Roussos and Nana Mouskouri could do a Live Aid type concert to save their countrymen? Demis was really big in the 70s?

Seriously though, could all be over for the Greeks if they are having a run on their banks. They will be really $hitting themselves if they see Bob Geldof and Orla Guerin arriving at Athens Airport.

He still looks BIG to me.

http://youtu.be/uaI4mXFMENs

 

[conny]

..........

I also hear that Spain is going to try not to win the Eurovision Song Contest.

Well thats easy.
Just sing a decent song and they'll have no chance of winning!