• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Greeks to worship the Dollar the Euro is a false god

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Greeks to worship the Dollar the Euro is a false god

    Eurozone crisis - Greece could ditch euro for US dollar claims Trump man Ted Malloch | Politics | News | Express.co.uk

    In an explosive interview with a Greek broadcaster Prof Malloch said it would be the best thing for the the country’s people if it quits the eurozone, adding that the current situation is “simply unsustainable”.

    He told Skai TV: “I know some Greek economists who have even gone to leading think tanks in the US to discuss this topic and the question of dollarization.

    “Such a topic of course freaks out the Germans because they really don’t want to hear such ideas.”


    Ho ve
    Always forgive your enemies; nothing annoys them so much.

    #2
    The EU would be better off without the Greeks. They're costing the union too much money. Even now, like the UK, they're spending money they don't have. Using the dollar makes perfect sense for using that philosophy.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    Comment


      #3
      Originally posted by scooterscot View Post
      The EU would be better off without the Greeks. They're costing the union too much money. Even now, like the UK, they're spending money they don't have. Using the dollar makes perfect sense for using that philosophy.
      Maybe Italy too, and Spain, even France.
      http://www.cih.org/news-article/disp...housing_market

      Comment


        #4
        Originally posted by scooterscot View Post
        The EU would be better off without the Greeks. They're costing the union too much money. Even now, like the UK, they're spending money they don't have. Using the dollar makes perfect sense for using that philosophy.
        Do you expect the Greeks to keep receiving handouts after they've gone? After all, you're expecting us to keep paying in.
        The greatest trick the devil ever pulled was convincing the world that he didn't exist

        Comment


          #5
          ...and Trump will wade in with several billion to bail them out and no strings attached to the bail out loan



          Even if they did it wouldn't freak out the Germans, they'd be shut of the problem. I don't quite know where this "the Germans are freaking out" comes from.
          I'm alright Jack

          Comment


            #6
            I need to read in detail his argument but from the top level headline

            WTF

            you dollarize an economy to bring stability to it and in theory remove inflation - the Euro has already shown how likely that is to work (although its worth pointing out the US usually has more inflation than Germany likes).

            The problem both Italy and Greece has is that their economies both worked by using inflation to deal with their unproductive economy and bad lending decisions. The Euro stopped them from doing so but they haven't been able to solve their economic structural issues (and their bank's willingness / ability to make stupid loans).
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by LondonManc View Post
              Do you expect the Greeks to keep receiving handouts after they've gone? After all, you're expecting us to keep paying in.
              With interest rates next to zero, free money is everywhere.
              "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

              Comment


                #8
                Originally posted by eek View Post
                The problem both Italy and Greece has is that their economies both worked by using inflation to deal with their unproductive economy and bad lending decisions. The Euro stopped them from doing so but they haven't been able to solve their economic structural issues (and their bank's willingness / ability to make stupid loans).
                Something you should also consider is the amount of gold Italy has. They could take a swipe at their debt to bring in to normal GDP levels if they wanted to. That's quite a chip to be holding.
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                Comment


                  #9
                  Meanwhile in Germany....

                  ZEW Press Release: Downturn in Expectations

                  The ZEW Indicator of Economic Sentiment for Germany records a decrease of 6.2 points in February 2017. The indicator now stands at 10.4 points. "The downturn in expectations is likely to be the result of the recently published unfavourable figures for industrial production, retail sales and exports. Political uncertainty regarding Brexit, the future US economic policy as well as the considerable number of upcoming elections in Europe further depresses expectations.

                  Comment


                    #10
                    Greeks to worship the Dollar the Euro is a false god

                    Originally posted by scooterscot View Post
                    Something you should also consider is the amount of gold Italy has. They could take a swipe at their debt to bring in to normal GDP levels if they wanted to. That's quite a chip to be holding.
                    Who's going to buy it?

                    http://www.cih.org/news-article/disp...housing_market

                    Comment

                    Working...
                    X