Angela Merkel, it's time to act!

[DodgyAgent]

How can they reduce oil/gas imports, cars and other things?

Greece's main "export" is tourism - if they get drachma they'll have cheaper price but make less money in euros: they are already popular and I doubt they'll suddenly double visitor numbers - there are plenty cheap destinations already.

You are a complete idiot. The whole point of a currency devaluation is that it stimulates investment and growth just as it has done for economies all over the world for thousands of years. If they have Drachma they wont be able to afford foreign g0ods which will help their balance of payments. OK raw materials will cost them but no more than they cost another country. The difference being that the "local costs" (labour in particular) will be low thus making the products they produce more competitive.
How on earth you run a business I do not know.

[Doggy Styles]

It seems unlikely given that I can come up with coherent argument to support my point of view. I wish I could say the same about you ...

sasguru has you banged to rights. Sorry and all that.

[sasguru]

How on earth you run a business I do not know.

He doesn't. He spends all his time in the server room tweaking his spaghetti code. The real bosses figure he does least damage there.

[AtW]

The whole point of a currency devaluation is that it stimulates investment and growth just as it has done for economies all over the world for thousands of years.

I gave very specific example of oil imports - just because they'll have rapidly depreciating currency (which will mean no serious direct foreign investment since only an idiot would invest into country with such high inflation using local currency) does not mean they'll magically start getting more oil.

So they can't replace easily energy import other than by reducing actual usage of it - impossible as all obvious improvements have already been made due to already high prices.

[AtW]

sasguru has you banged to rights.

I don't think so.

[AtW]

The difference being that the "local costs" (labour in particular) will be low thus making the products they produce more competitive.

Did you bother to ask those local workers how they feel about getting 2-3 times less in money they get now? Any austerity is better than this

None of your losers had the misfortune to live in a country with tulip currency, money printing and 4 digit annual inflation

[Doggy Styles]

I've never seen such economic ignorance on CUK, and that's saying something.

[AtW]

I've never seen such economic ignorance on CUK, and that's saying something.

All that says is that you don't come here often enough!

[BrilloPad]

is there also somewhere serious conversation about economics in here or just ?

Alas those who know about the subject tend to keep quiet. Its a great pity really.

Though you are not a real cuk poster until you have been called a cretin by sas. Its a rite of passage.

[BrilloPad]

Did you bother to ask those local workers how they feel about getting 2-3 times less in money they get now? Any austerity is better than this

Unfortunately any austerity just kicks the can further down the road. The greeks are going to default sooner or later and leave the Euro.

Its a great tragedy. But it is reality.