Germany: No More Debt Relief For Greece

[RamRoddoc]

http://theconservativetreehouse.com...za-party-begins-to-remove-austerity-measures/


read more
http://www.bbc.com/news/world-europe-31072321

 

[Hayata]

You mean I might be able to afford to go back to Santorini one day afterall?

Yeah, Greece prolly won't be on the Euro that much longer.

I just wish the drop in oil would lower airline fares...

 

[captdave77]

You mean I might be able to afford to go back to Santorini one day afterall?

Yeah, Greece prolly won't be on the Euro that much longer.

I just wish the drop in oil would lower airline fares...

A strong dollar would be nice but crime will be off the charts.

Who would have thought that the home of Aristotle would be so ignorant?

 

[RamRoddoc]

A strong dollar would be nice but crime will be off the charts.

Who would have thought that the home of Aristotle would be so ignorant?

Ah but the lure of socialism........ It's enticing and works great until the money runs out....... Even educated idiots fall for it. To bad they haven't checked history's record on that deal.

A reply......

In addition to debt forgiveness, Syriza wants a bunch of other stuff, including forgiveness of bank debt for people who are unable to meet their obligations. It’s no coincidence that the Greek stock market was down 13% when the snap election was announced, led by the banks.
In the entire post-World War II period, you’d be hard pressed to find a farther-left national government in Europe than what Greece has now.
If it comes about by exiting the euro, an immediate consequence will be that they can count on a very weak drachma and high interest rates, possibly followed by high inflation. There will be food and energy shortages. There will be pretty much everything you had in Cuba and Venezuela, just in a less extreme form. Economic misery will abound. And just as a reminder, it is very hard for such places to be governed democratically.
Every once in a while finance gives us these gifts—little controlled experiments where you can watch how two competing economic philosophies play out. East and West Germany. North and South Korea. Even among the 50 US states. As you go around the world, you can see what works and what doesn’t.

 

[Patronus]

Proving once again that the age old truism of liberal economics still stands...you DO eventually run out of other peoples money to spend. Too bad the American liberals won't learn this lesson until China follows Germany's course of cutting off access to the financial teat. Then all these stupid ****ing liberals are going to blame the republicans for borrowing the money THEY spent buying obamavoters.