Angela Merkel, it's time to act!

[AtW]

Greece is bust.

Yes it's bust which means it might default on all debts, that does not mean automatically they leave eurozone - they don't want to.

It only makes sense to stay outside of such things when country is very strong and selfish: Switzerland/Norway as example, or very foolish - such as UK.

[sasguru]

Yes it's bust which means it might default on all debts, that does not mean automatically they leave eurozone - they don't want to.

It only makes sense to stay outside of such things when country is very strong and selfish: Switzerland/Norway as example, or very foolish - such as UK.

You really haven't a clue, have you?

A bank run would force the Greek (or Spanish or whatever) Central bank to issue its own credit notes, in effect its own currency. Unless Germany did it. Which is what we all want.
Apart from Germans obviously.

[AtW]

A bank run

Who exactly going to do that bank run - Greek people who have no money anyway? Foreign investors who are holding massive savings in Greek banks?

The only thing that can really happen is that Greece will default on debt in which case Govts in countries where debt holders are will have to deal with the fallout.

Greece will still remain in euro zone - they are not fooking stupid to go back to their own currency that will drop like a stone in water. That's right - the Govt of most countries would much rather fook over foreign investors than choose to deal with bankrupting their own voters.

[sasguru]

Who exactly going to do that bank run - Greek people who have no money anyway? Foreign investors who are holding massive savings in Greek banks?

The only thing that can really happen is that Greece will default on debt in which case Govts in countries where debt holders are will have to deal with the fallout.

You really are very thick outside the programming arena, aren't you?
And even there I'm beginning to suspect you may only be mediocre.

[AtW]

You really are very thick outside the programming arena, aren't you?
And even there I'm beginning to suspect you may only be mediocre.

I personally rate my understanding of economics much higher of my understanding of programming

[BrilloPad]

So do the right thing and couph up before we all go down the pan.

It would be the least worst way out of the mess.

[sasguru]

I personally rate my understanding of economics much higher of my understanding of programming

You must be the crappiest programmer in the world in that case

[AtW]

You must be the crappiest programmer in the world in that case

As long as customers like the product it does not matter

[Mich the Tester]

Whatever happens, the northern economies will have to pay. It's now time to come up with a credible plan that at least has half a chance of being accepted by enough voters to see it through. I don't think closer union will be accepted, so the option to split the euro seems to be the one on the table. Seeing as Holland doesn't have a fully functioning government and France is now run by a lefty who wants to maintain low pension ages, it's going to be up to Germany to take the lead, and that means it's Mrs Merkel's moment to step up and give some leadership.

[Doggy Styles]

Who exactly going to do that bank run - Greek people who have no money anyway? Foreign investors who are holding massive savings in Greek banks?

Anybody with cash in a Greek bank.

Don't believe all the bollocks, not every person in Greece has zero money, and those with it are gradually moving it away. You know what happens if that carries on.