These Greek talks with their creditors

[The Spartan]

That's it in a nutshell, you've got poorer countries propping up their richer counterparts you can't tell me the Greeks don't have a better standard of living than say the Hungarians and yet the Greeks will strike at the slightest hint of any austerity measures.

[TimberWolf]

That's it in a nutshell, you've got poorer countries propping up their richer counterparts you can't tell me the Greeks don't have a better standard of living than say the Hungarians and yet the Greeks will strike at the slightest hint of any austerity measures.

How much does a Greek urn?

[Doggy Styles]

Yes and so on until creditors get a clue and choose to accept big haircut.

If I was Greece I'd set deadline to accept offer, say 48 hours and then selectively default on bonds owned by hedge funds and other fools who thought to take a gamble on them.

You really don't understand the situation with Greece, do you.

They have a recession, poor tax-raising and little prospect of any of that changing. This means they have a massive deficit, and they have to keep borrowing.

You talk of glibly of creditors 'taking a haircut'.

Firstly much of those existing debts are pension funds, which millions depend on, and what you are advocating is not punishment for banks, but weakening of pension provision.

Secondly, you seem to have forgotten that, given the Greek deficit, there will be a next time. Who will lend to them next time knowing they'll only get back 10% of their investment thanks to these 'haircuts' you see as the answer? If anyone does lend to them again it will have to be under utterly ruinous interest rates.

Thirdly, that means Greece would have to rely on some sort of constant handout from the IMF/ECB ad infinitum. How do you see that going down with donor nations?

If the Greeks cannot devalue their currency they cannot ever realign their economy. Being in the eurozone is killing them.

[BrilloPad]

You really don't understand economics, do you.

FTFY

[BlasterBates]

Loukas Papademos whose currently running Greece was a professor of economics at Columbia University in the US.

The Daily Mail isn't necessarily the only source of economic wisdom.

[BrilloPad]

Loukas Papademos whose currently running Greece was a professor of economics at Columbia University in the US.

The Daily Mail isn't necessarily the only source of economic wisdom.

Does being a professor of economics make him able to polish a turd?

[The Spartan]

Does being a professor of economics make him able to polish a turd?

As I always say "you may not be able to polish a turd but you can roll it in glitter" hahahaha!!

[sasguru]

Loukas Papademos whose currently running Greece was a professor of economics at Columbia University in the US.

.

If you're going to take that line of thinking then presumably you shouldn't be posting with your crappy degree from a dumbed down institution.

[d000hg]

Hey Sas, an easy question - how do we know how much money Greece has, so they don't just say "oh, sure. Here's a squillion Euros"?

[AtW]

Spain, Italy and Greece used to be extremely popular with british tourists before the advent of the euro I wonder how they're fairing now as I for one wouldn't go to any of them. Everything is more expensive than it is here, whereas before it was a lot cheaper. Serves them right if you ask me they've brought it on themselves.

That's because pound dropped down 1.2 today vs 1.6 at start - hardly a fault of countries who prefer hard currency.