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True. They should immediately go to the Drachma. ..............
You may be right about that. (I honestly do not know what would be best for Greece at this point). However, expecting any politicians, in any country, to think about long-term gain as a priority over short-term pain is not realistic. And there would be a lot of short-term pain in going immediately to the Drachma. Of course you didn't say you expected Greece to do this, just that they "should".
You may be right about that. (I honestly do not know what would be best for Greece at this point). However, expecting any politicians, in any country, to think about long-term gain as a priority over short-term pain is not realistic. And there would be a lot of short-term pain in going immediately to the Drachma. Of course you didn't say you expected Greece to do this, just that they "should".
Again I will say no one knows. Not the best expert or experts can predict what is going to happen. No one knows the result if Greece goes back to the Drachma. Revolution? Chaos? Starvation? The quick rise of Golden Dawn? Or just tough times? Its any bodies guess. So it goes with all other economic decisions at this point in time. Everyone is guessing.
Their economies are growing. Same can't be said for Greece.
Ireland is doing better than I thought but they still aren't out of the woods. The rest are worse off and you can include Italy in it.
Try googling some photos of soup kitchen lines in Ireland and Portugal. It looks a lot like pics from the Great Depression here.
None of them got fixed by the bailouts. Furthermore out of all of them Greece has had the toughest austerity measures by far implemented.
They are all in the same boat with only Ireland having a fighting chance of climbing out.
Quote:
Originally Posted by BobNJ1960
The EU will be better off no longer propping up Greece. W/O the EU, they have the GDP of Gilligan's Island in a few months.
They will probably remain in the EU but not the Eurozone. If they do exit the Eurozone and they have a competent government they will go through a few years of pain until they get the Drachma stabalized. The Eurozone will crumble because of this.
Quote:
Originally Posted by Escort Rider
You may be right about that. (I honestly do not know what would be best for Greece at this point). However, expecting any politicians, in any country, to think about long-term gain as a priority over short-term pain is not realistic. And there would be a lot of short-term pain in going immediately to the Drachma. Of course you didn't say you expected Greece to do this, just that they "should".
I think they have no choice. Most members of the Troika being led by Germany want Greece out and they want to blame Greece for it. While giving a debt cut to Greece is very doable they cannot do the same for the rest who would quickly demand the same. They see the only way to keep Greece is to write down some debt, as thats not an option they must force them out. They must also do what they can to wreck them so that its too painful for other countries in the same boat to do likewise.
I read an article (or maybe hear on the news) that the election of Syriza in Greece was historic. Greece has long had corrupt and dishonest politicians running the country. Now for the first time they just have dishonest politicians running it.
The healthy ones would certainly be better off without any of the sick men bringing them down.
They have been pillaging the "sick men" since the beginning of the Euro. If Greece winds up out of the Eurozone I would not be taking bets on the Eurozone lasting.
I think they have no choice. Most members of the Troika being led by Germany want Greece out and they want to blame Greece for it. While giving a debt cut to Greece is very doable they cannot do the same for the rest who would quickly demand the same. They see the only way to keep Greece is to write down some debt, as thats not an option they must force them out. They must also do what they can to wreck them so that its too painful for other countries in the same boat to do likewise.
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Greece wrecked itself, and now can begin a decades long dark era of rebuilding.
They have been pillaging the "sick men" since the beginning of the Euro. If Greece winds up out of the Eurozone I would not be taking bets on the Eurozone lasting.
This. The big players in the Euro will do whatever it takes to keep Greece in.
My feeling is that in the long term, Greece's principal debts will be more or less forgiven.
Greece wrecked itself, and now can begin a decades long dark era of rebuilding.
Their corrupt politicians and socialist policies have nearly burned Greece to the ground, and the Euro poured gasoline on the fire.
It won't take decades to rebuild if they leave the Eurozone. They have a lot going for them. They have undergone a lot of belt tightening and purged a lot of corruption. Once they get everything under control the Tourists will flock to it at a discount price. EU will import more of their Ag products. Their shipping industry has them in a good position to export EU goods.
Cobbling together competent leadership is gonna be their biggest pitfall. Which I admit is gonna be tough for them to pull off.
If they stay in the Eurozone or they double down on stupid (socialism) they will never dig their way out.
When I see socialism fail on such a grand scale I like to be optimistic that capitalism will free the people and lift them up and out of misery. Not pile on more misery.
Capitalism will work, but they dug too big a hole to hope for a brief downturn.
But each day they are rebuilding is 1 day closer to coming back.
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