Users Online Now:
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
GREECE SITUATION UPDATES: The death of a 19-year-old Greek student has come to symbolize everything that's wrong with austerity!!!
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Luisport:MV8xODY4OTU4XzMxMjc4NDQxXzgwOTcyQjlC] INTRODUCING THE 'GEURO': A Radical New Currency Idea To Solve All Of Greece's Problems Here's a radical new idea from former Deutsche Bank Chief Economist and current Senior Advisor Thomas Mayer, based on the facts that a) Greeks don't want to leave the euro and b) they also don't want to continue with the Troika bailout programs as they are currently constituted. All of the talk to date has been of a binary option for the eurozone between a cooperative Greek government that gets to stay in the euro and a non-cooperative one (presumably led by the likes of Syriza boss Alexis Tsipras) having to exit the euro. But maybe there's a third option, just because the stakes are so high here. The rest of the eurozone doesn't want to see a Greek exit because of the potential for other countries following suit (whether they contemplate leaving as well or experience similar runs on bank deposits), which would be disastrous. What would that middle ground look like? According to Mayer, the Troika could decide on "a partial stop in financial assistance, with continuing support for debt service needs and the Greek banking sector but no further support for the financing of the government’s primary expenses." Thus, the "Geuro" is born: Assuming that the Greek government is unable to quickly balance its primary budget, a plausible response of the government to the shortage of euro cash as a result of the end of financial transfers would be to issue debtor notes (IoUs) to its creditors, promising payment as soon as fresh euro cash would become available. As creditors lacking euro cash would have to use the IoUs to settle their own bills, these instruments would assume the role of a parallel currency (let’s call it Geuro). The Geuro would probably quickly be used in most domestic transactions. For the purchase of essential imports, Geuros would have to be exchanged against euros, most likely at a hefty discount of 50% or more. Since an increasing number of domestic goods, services and wages would be paid in devalued Geuros, the export sector could reduce its prices in euro and regain competitiveness against foreign suppliers. The exchange rate of the Geuro relative to the euro would be determined by the primary budget gap of the government that is being filled by Geuro issuance. Political pressure could build for more prudent policies as Greek residents saw their terms of trade decline. Read more: http://www.businessinsider.com/introducing-the-geuro-a-new-parallel-currency-to-solve-all-of-greeces-problems-2012-5#ixzz1vRBCTLIz [/quote]
3 min Theodora Oikonomides‏@IrateGreek
#Greece Army has ordered a sudden, real-time preparedness exercise of Rapid Response force on a remote island, via @doleross #rbnews
link to twitter.com
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
All sounding the Alarm for what Is Coming In 2014?
Signs the American civil war nears as 14 Governors : Prepare State Militia Defenses, To Be Ready Against Obama’s Rogue Federal Forces
Who Decides Who's Crazy? - Big Pharma and the DSM
New Wi-Fi Technology Can Track You Through Walls
USGS Report: Up to Half of L.A. Buildings Would Be Uninhabitable After Large Quake
Legislators Introducing Bill to Nullify Obamacare in Georgia
Is this the end of CCTV cars?
Dubious Police Use Of Lethal Force Looms Over The Nation
Rise Of Militarized Police Threatens Civil Rights, Community Well-Being
US Unemployment Aid Applications Surge To 368,000
Hospital patient says clock told him, ‘Time to die’
The Communist Agent Who Caused Pearl Harbor — and Global Economic Havoc
As Homeowners become Renters, Poor Americans Spend more for Rentals
Facial-Recognition Cameras Hidden in Eyes of Mannequins
USTR Says TPP Must Be Kept Secret, Because The Public Is Too Stupid To Understand It
Nelson Mandela Family Finally Gives Up Charade and Admits Mandela Dead
Missing American in Iran was working for CIA
U.N. confirms chemical arms were used repeatedly in Syria
Mother Of All Currency Wars in One Chart: Dollar Vs. Swiss Franc
U.S. to boost Israel defense missile funding by $173M
Huge reserves of freshwater lie beneath the ocean floor
Congress Rushing to Approve 2014 National Defense Authorization Act (NDAA)
The universe really is a hologram, according to new science
Are You Ready for Riots?
Bloody School Massacre Staged for Canadian Police Training, Over 100 Participants
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd.
Website Design Copyright © 1999 - 2014 Godlikeproductions.com
Page generated in 0.004s (3 queries)