Greece risks 'return to drachma'

[Scotgal]

Greece will never go back to the Drachma, what will happen is their debt will be restructured, some debt will be deemed illegal some will be wiped and the creditors will all take a haircut. This will happen after another few bailouts.

[scooterscot]

Maria Damanaki, the European Commissioner for fisheries, and who was appointed by Greece's ruling socialists, said her country faces having to exit the currency unless warring parties can agree to makes the sacrifices needed to resolve its debt crisis.

Honestly the torygraph is really beginning to wind me up these days, nothing more than a polished version of the daily mail.

Only the barclay brothers stand to gain from the collapse of Greece.

[doodab]

nothing more than a polished version of the daily mail.

I thought one couldn't polish a turd?

[scooterscot]

Greece will never go back to the Drachma, what will happen is their debt will be restructured, some debt will be deemed illegal some will be wiped and the creditors will all take a haircut. This will happen after another few bailouts.

More than likely.

Reading a comment from der spiegel the other day 'not one German or French citizen has paid a cent to bail out Greece'

It's the UK that stands to take a step backwards with living standards and high inflation over the years to come.

[alreadypacked]

Who said anything about being backed by gold?

The Greeks would need to persuade someone to swap them € for drachma so that they have € to give to the people they owe. Nobody in their right mind will swap € for a currency that is going to rapidly devalue, so the Greeks will be unable to obtain the € they need. In fact, their efforts to buy € with drachma would contribute to the devaluation.

You do know I'm taking the p1ss

[doodab]

You do know I'm taking the p1ss

Ah you got me.

[alreadypacked]

Ah you got me.

[gingerjedi]

Or they could sell Corfu for x billion Euros...

We should sell the Channel Islands to Germany for x billion Euros, they seemed quite keen on them not so long ago.

[DodgyAgent]

Honestly the torygraph is really beginning to wind me up these days, nothing more than a polished version of the daily mail.

Only the barclay brothers stand to gain from the collapse of Greece.

So what is wrong or incorrect about the Torygraphs analysis?

[Doggy Styles]

So what is wrong or incorrect about the Torygraphs analysis?

I was just wondering the same thing.

The current situation has been predicted by eurosceptics for 20 years, so is it a case of europhiles shooting the messenger?