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"Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals. Officials, scrambling for solutions, have considered dipping into funds that are supposed to be for Greece’s troubled banks. Some are even suggesting doling out i.o.u.’s."
If Greece goes under, its very likely that the entire Euro zone will go with them. If that happens its time for a GLOBAL recession. Regardless of who the President is, its not looking good for the next 10 years or so. Its likely it'll start a depression.
Oh well, I feel my job is safe, although pay may decrease some. A lot of folks are going to be hurting when this happens though.
It all depends on whether the fed sends the EU another ten or so trillion to float around. If they do it will just prolong it past the election and maybe a while longer until it eventually happens.
It all depends on whether the fed sends the EU another ten or so trillion to float around. If they do it will just prolong it past the election and maybe a while longer until it eventually happens.
I don't think thats enough money. Thats the problem, no one has enough money to bail out the EU.
I don't think thats enough money. Thats the problem, no one has enough money to bail out the EU.
At this point I believe its inevitable.
I think this is true. You can keep fabricating the debt, but not w/o unhealthy consequences. These countries need to get their currencies back and write this debt off. No way it is getting paid back anyway. All they are doing now is imploding Greece and selling off the assets.
I dunno. They could just cancel their military equipment order with Germany and have some "spare cash".
This, or just stop paying back the German banks and the ECB, that's what almost all of the bailout is going on anyway.
That debt is never getting paid off by the Greeks (at least not in real terms). Either it needs to be written off or alternatively the other Europeans need to cover it. Both ways can be handled in a way that will eventually bring the crisis to an end, but, a decision needs to be made and action take or things will just continue to get worse there for no benefit. The expression is a bit crude, but, **** or get off the pot applies pretty well here.
Who will be left hoding the bag is the issue now. Looks like the German taxpayers unless the US decides to offer us up.
Suicide for any politician that gives their countries money for any of these countries to carry on their failed ways.
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