Drachma printing

[doomage]

I have a friend who works at De La Rue. Apparently they have started Drachma printing. All very hush hush.

They really should not let their employees get drunk.

I don't believe it. You clearly don't have time for friends, too busy posting.

[fullyautomatix]

And yet when I suggested Greece exiting the euro over a year a go I was torn a new one on here.

<Suity in I was right yet again mode>

Linky ??

And proof that you were the first here to suggest that ?

I find it hard to believe that with SAS, DP and AtW around you would be the first to call it right regarding Greece exiting Euro.

[Paddy]

I doubt if the replacement currency will be called Drachma. In order to save face it will be called something like New Greek Euro or New Hellenic Euro and at a 2 NHU to 1 Euro exchange rate.

[TheFaQQer]

And yet when I suggested Greece exiting the euro over a year a go I was torn a new one on here.

<Suity in I was right yet again mode>

That implies that you've been right on at least two occasions.

Links?

[BlasterBates]

So there we are a new government has been elected....now lets bear in mind virtually everyone in Greece wants to keep the Euro, so along comes the head of government and has to make a choice, accept 20 billion Euros for distribution, or throw a tantrum walk out of the Euro, turning everyone's savings to sh*te and sending the prices of basic food to double over night and then having made everyone penniless, tell everyone sorry we can't pay your salaries anyway.

I don't know....lets wait and see. I'm not fully convinced a new Greek government will be introducing the Drachma, but who knows.

[BrilloPad]

I don't know....lets wait and see. I'm not fully convinced a new Greek government will be introducing the Drachma, but who knows.

Well the greek people want to stay in the Euro. But they don't want austerity. Something has to break. Eventually they have to leave the Euro.

And the longer it is, the worse it will be.

[DodgyAgent]

So there we are a new government has been elected....now lets bear in mind virtually everyone in Greece wants to keep the Euro, so along comes the head of government and has to make a choice, accept 20 billion Euros for distribution, or throw a tantrum walk out of the Euro, turning everyone's savings to sh*te and sending the prices of basic food to double over night and then having made everyone penniless, tell everyone sorry we can't pay your salaries anyway.

I don't know....lets wait and see. I'm not fully convinced a new Greek government will be introducing the Drachma, but who knows.

The Greeks are banking on not being allowed to come out of the Euro by the rest of the EU. They think that the ensuing cost of Greece coming out will trigger runs on banks in Italy, Spain, Portugal, etc. and a wholesale collapse of the Euro and the banking system.
Also the political elite of Europe - those who took everyone into the Euro are desperate no to lose face (with the threat of their epitaphs saying "this twat of a socialist Eurocrat contributed nothing to society during his worthless lifetime and was a key supporter and instigator of the disastrous Euro") and the idiots that supported the Euro amongst the general populace (of which you BB were one) as if to show how "European" they all are will dig in against Greece coming out.
The message coming from the vested interest is now that the cost of losing Greece from the Euro will be too high.

As for me I am feeling very smug about being against the Euro from the very beginning

[Old Hack]

The Greeks are banking on not being allowed to come out of the Euro by the rest of the EU. They think that the ensuing cost of Greece coming out will trigger runs on banks in Italy, Spain, Portugal, etc. and a wholesale collapse of the Euro and the banking system.
Also the political elite of Europe - those who took everyone into the Euro are desperate not lose face (having contributed nothing to society) and the idiots that supported the Euro amongst the general populace (of which you BB were one) as if to show how "European" they all are will dig in against Greece coming out.
The message coming from the vested interest is now that the cost of losing Greece from the Euro will be too high.

As for me I am feeling very smug about being against the Euro from the very beginning

This is pretty much what I said and believe; euro's too big to fail, institutionally, and ideologically.

[DodgyAgent]

This is pretty much what I said and believe; euro's too big to fail, institutionally, and ideologically.

Well Is it? Does the rest of Europe simply write a blank cheque to Greece? We will see.

[BlasterBates]

...absolutely and the new left wing prime minister will go into the EU meeting punching his fist in the air, "merkholland" will cave in and give him 6 shillings and sixpence to buy pencils for a Greek primary school, which they'll raise from the rich bank tax at 0.0001%, thereby heralding a new Robin Hood era of wealth distribution.

Everyone's satisfied.

...oh and by the way I was never pro or contra the Euro, because in my view it isn't as important as everyone says it is and you could have done it either way, but it would be complete nonsense to break it up now it's there.