Originally posted by BlasterBates
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Euro hits new low as Italian bond rates spike past 7%
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Originally posted by BlasterBates View Post
It would be completely pointless for Greece to do a messy exit.
The phrase I used to think you were clever.... comes to mind.merely at clientco for the entertainmentComment
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Originally posted by Doggy Styles View PostBack in November you were predicting: Never mind. It will probably blow over during the next few weeks.
BBC News - Spain sees strong demand in latest bond auctionI'm alright JackComment
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Originally posted by eek View PostAn Exit would allow them to print Drachmas and have an exit. Without that option where do the next set of Euros come from to pay January's pensions.
The phrase I used to think you were clever.... comes to mind.
You should take a look at Argentina.
If it was that simple why don't they do it? No-one is stopping them. The only country that started printing money as you suggest was Zimbabwe.
You can only do so much quantative easing, if you overdo it it becomes counter productive. In other words you use other mechanisms to reduce the money supply to compensate. Greece wouldn't have sufficient leeway.
I mean if it was so simple you wouldn't need the IMF or financial aid, would you, you could just jack open the printing presses.Last edited by BlasterBates; 15 December 2011, 17:09.I'm alright JackComment
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Originally posted by BlasterBates View PostWhat use is it printing Drachmas when inflation goes through the roof. The currency would collapse and people would end up bartering.
You should take a look at Argentina.
If it was that simple why don't they do it? No-one is stopping them. The only country that started printing money as you suggest was Zimbabwe.
You can only do so much quantative easing, if you overdo it it becomes counter productive. In other words you use other mechanisms to reduce the money supply to compensate. Greece wouldn't have sufficient leeway.
The phrase "I always thought you were as thick as pigsh*t" springs to mind.
Again I am astonished that you cannot see this. That your mind is incapable of reading through the logic even though we have reams of history books that have shown endless examples of how the markets ultimately control economics. What on earth makes you think that the markets can be ignored and that there is an easy way out?.
the Greeks have a choice either they pull out of the Euro, default and start all over again, or they submit their sovereignty to the GermansLet us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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Originally posted by DodgyAgent View PostArgentina has grown rapidly since the country defaulted. The important factor being that the inefficiencies albeit painfully were cleared out and Argentina has maintained its sovereignty. We have a thing in the UK called bankruptcy which although harsh gives people a fresh chance to start again. I am afraid that this probably what Greece needs (or the UK for that matter) to teach itself that indulging in poor economic policies and poor governments is a bad thing.
Again I am astonished that you cannot see this. That your mind is incapable of reading through the logic even though we have reams of history books that have shown endless examples of how the markets ultimately control economics. What on earth makes you think that the markets can be ignored and that there is an easy way out?.
the Greeks have a choice either they pull out of the Euro, default and start all over again, or they submit their sovereignty to the Germans
After the Argentine default, poverty doubled to the extent where the majority of the population was below the poverty line. It took four years to get back to where they were. Greece has gone through it's first tough year, and it is in no way comparable to the dire situation in Argentina.Last edited by BlasterBates; 15 December 2011, 17:39.I'm alright JackComment
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Originally posted by BlasterBates View PostIf it so obvious, why aren't the Greeks pulling out of the Euro?
The government that does that will always be hated even though Greek children will be better off in the long-run. People on the whole are very selfish.Comment
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Originally posted by TwoWolves View PostBecause there will be extreme pain in the near-term. Many people will loose everything they have.
The government that does that will always be hated even though Greek children will be better off in the long-run. People on the whole are very selfish.Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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