The PIGGS spring has begun?

[TimberWolf]

We should all have gone bust 10 years ago instead of making it worse with smoke and mirrors.

[suityou01]

We should all have gone bust 10 years ago instead of making it worse with smoke and mirrors.

I think in the old world order this much is true, however in the new scheme of things, and to quote Max Keiser, the world is run by financial terrorists. Profiteering from others suffering (Greece exiting the euro will be extremely lucrative for those short) is a moral cancer that is endemic. Greed is what fuels the machine, and going bust 10 years ago can't and wouldn't have changed a thing I'm afraid.

[AtW]

They will be able to buy all the imports they need as their currency will be more attractive so they will attract more tourists.

"Greece attracts more than 16 million tourists each year, thus contributing between 18.2% to the nation's GDP in 2008 according to an OECD report.[102] The same survey showed that the average tourist expenditure while in Greece was $1,073, ranking Greece 10th in the world"

Source: Economy of Greece - Wikipedia, the free encyclopedia

$1k spent per tourist, this means they need to get approximately 36 mln extra tourists every year to make up fo rnearly 40 bln difference between imports and exports, that's more than 2 times more tourists they get every year.... now if they have weak currency it would mean tourists won't actually spend as much as before, say $500 and this means they now need 72 mln extra tourists

[Sands of Time]

I've just returned from Madrid.

I know why Spain is broke...

EVERYBODY smokes all of the time.

The WHOLE population spends most of their working day outside on the pavement chatting...

I now have a passive smoking cough!



Tone

[Platypus]

At the end of the day the Germans have caused this by their desire to control all of Europe.

Interesting. speaking to some German colleagues, they believe that the German's have caused this by their desire to NOT control all of Europe.

(i.e. that the Union and the Euro will bring people together and ensure we don't have another war)

[minestrone]

I just do not know how we have got ourselves into this position again with Germany. Suppose it is the Germans. They all seem to be nice reasonable people individually but collectively they are fruit loops.