Germany and France decide to throw more taxpayers money down the Greek black hole

[sasguru]

Have you forgotten the 2nd largest manufacturing exporter in the world?

For how long? When everybody's poor nobody can buy.

HTH

[sasguru]

http://forums.contractoruk.com/gener...-plummets.html

[Churchill]

http://forums.contractoruk.com/gener...-plummets.html

Oi Mods, ban the f*cker for blatant advertising of his own threads!

[Doggy Styles]

and that is the point of the single currency so that no one nation can have their currency fecked

Instead the single currency is fecking nations' economies.

But that's OK, the Drachma is unaffected!

[PAH]

Greece is fooked. There 's no way out but default.

Why don't they sell off some of their smaller islands?

Plenty of super rich waiting for their Dubai World island to be built (oops ), and if they're willing to pay 10s of millions for an artificial sandbank it's pretty certain Greece could make billions selling off some real ones.

[Old Greg]

Why don't they sell off some of their smaller islands?

Plenty of super rich waiting for their Dubai World island to be built (oops ), and if they're willing to pay 10s of millions for an artificial sandbank it's pretty certain Greece could make billions selling off some real ones.

Why not just default.

[Lockhouse]

What should happen is:

- Greece leaves the Euro and re-introduces the new drachma.
- Existing deposits held in Greek banks continue to be held in Euros.
- Greece pays futue bills (public sector wages etc.) in new drachma
- Greece passes a law denominating all debt in new drachmas (a soft defualt).
- Greece prints money to pay its debts, creating inflation to inflate debt away, and devaluing the currency to restore competitiveness.

This is the classical way out of a sovereign debt crisis and is unavailable to a country stuck in the Euro.

You must spread some Reputation around before giving it to Old Greg again.

[GreenLabel]

Tuesday:

Eurozone bank stocks will fall on Thursday ...

Thursday:

... European banking shares led the way.

In Germany, Commerzbank climbed almost 9% and Deutsche Bank rose 3.6%, while in France Societe Generale and Credit Agricole gained about 6%.

And in the UK, Barclays rose almost 10%, while Lloyds Banking Group and Royal Bank of Scotland were up more than 7%.

[sasguru]

Tuesday:



Thursday:

Well obviously since they didn't tax the banks which was the better option

[darmstadt]

Why don't they sell off some of their smaller islands?

Plenty of super rich waiting for their Dubai World island to be built (oops ), and if they're willing to pay 10s of millions for an artificial sandbank it's pretty certain Greece could make billions selling off some real ones.

That was suggested by some German newspapers last time round, didn't go down too well in Greekland