Britain will be the strongest major economy in Europe for the next 2 years, says IMF

[sasguru]

Why not contrast the economic performance of the PIIGS versus non-Euro countries, as it's not just Euro economies in trouble. Iceland appears to be a shining example of the virtues of being able to go bust, though whether that's applicable to Greece I'm not sure.

So you don't think that putting several relatively backward economies whose rates as tailored for their economies were generally high, into the Euro, having the effect of immediately lowering rates, so that they effectively suddenly had very cheap money was not an obvious recipe for disaster?

[AtW]

you probably could shave .1 of a second off that hashing algorithm

I've found better algorithms than hashing years ago - key parts of SKA build on them: shaving off 2 seconds no longer needed as we can throw 200 cores at the job

[sasguru]

I've found better algorithms than hashing years ago - key parts of SKA build on them: shaving off 2 seconds no longer needed as we can throw 200 cores at the job

Well done. Finally you sound like an expert at something

[TimberWolf]

So you don't think that putting several relatively backward economies whose rates as tailored for their economies were generally high, into the Euro, having the effect of immediately lowering rates, so that they effectively suddenly had very cheap money was not an obvious recipe for disaster?

Not sure, but I don't think Greece printing money is a magic solution. I don't see the Euro as much different to say a currency based on something that holds its value, such as gold, but with a little more flexibility. If Greece can't cope inside a stable currency, I don't think printing billions of drachmas is going to solve it outside it, unless they are self sufficient in everything (perhaps like Iceland?), if not imports (e.g. energy?) for example are going to be hard to pay for in drachmas. Pain either way.

[sasguru]

Not sure, but I don't think Greece printing money is a magic solution. I don't see the Euro as much different to say a currency based on something that holds its value, such as gold, but with a little more flexibility. If Greece can't cope inside a stable currency, I don't think printing billions of drachmas is going to solve it outside it, unless they are self sufficient in everything (perhaps like Iceland?), if not imports (e.g. energy?) for example are going to be hard to pay for in drachmas. Pain either way.

Coming out of the Euro is the only solution for Greece. No one said it was a magic solution.

[TimberWolf]

Coming out of the Euro is the only solution for Greece. No one said it was a magic solution.

How are they going to buy raw materials if they don't have a stable currency?

Why isn't it the case that whoever foolishly lent Greece money now takes a hit?

[Doggy Styles]

Greece's problem got nothing to do with euro but everything to do with debt.

Come on AtW, that is fundamentally understood.

[sasguru]

How are they going to buy raw materials if they don't have a stable currency?

Why isn't it the case that whoever foolishly lent Greece money now takes a hit?

If I knew what the solutions were I would be very rich indeed.
What was obvious from the start was that what was essentially a political project that ignored economic reality was bound to fail.
You're forgetting that Germany was the first country to break the Euro rules when it suited them.
And was it also foolish to lend to Portugal, Soain, Ireland and Italy?

[AtW]

Come on AtW, that is fundamentally understood.

What's understood in your view?

[sasguru]

What's understood in your view?

That when it comes to Economics, you're a complete ignoramus.