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Greece Urged to Leave Euro Zone and DEFAULT ON DEBT

 
Anonymous Coward
User ID: 986685
Greece
05/30/2010 04:58 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
You didn't answered! Are you a PASOKos??????
 Quoting: Anonymous Coward 986692


I am not, but it doesn't matter. What matters is to be realistic and find the best possible solution.
Anonymous Coward
User ID: 979162
Canada
05/30/2010 04:59 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
:Az3: I'd say that that makes sense. Things would be tough for a few years with no credit, but not half as much as the slavery and heartache involved in paying it off. Particularly as most people had no say in it anyway.


Money that doesn't exist, doesn't need to be paid off! When will people wake up to this simple fact?
 Quoting: Anonymous Coward 964677


Most people aren't deadbeats, like yourself.
Anonymous Coward
User ID: 986685
Greece
05/30/2010 05:06 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Den eimai dipolistis epeidi koroideuw ton PASOKo, thn prasinh anaptu3h tou kai ta lefta pou uparxoun (profanws ta exw egw o idiwtikos upallhlos pou pernw 3 + 60) laugh
 Quoting: Anonymous Coward 986692


First of all, you should respect the other members and write in English.

Secondly, I am in the same economic situation as you.

Thirdly, your boss has the money, because all these years he evaded taxes and stole your insurance and didn't give you a raise.
aVian (OP)

User ID: 805698
United States
05/30/2010 05:14 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
PUSTI MALAKA ahhh
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
lime flavoured

User ID: 986440
United Kingdom
05/30/2010 06:10 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
I seriously doubt Greece will leave the Euro, however, this article isn't exactly going to please Euro traders.

Tomorrow is a public holiday in the UK, but the rest of Europe's markets aren't going to do well.
Anonymous Coward
User ID: 986685
Greece
05/30/2010 06:12 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
PUSTI MALAKA ahhh
 Quoting: aVian


Why are you swearing? and who are you swearing at?
aVian (OP)

User ID: 805698
United States
05/30/2010 06:12 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
PUSTI MALAKA ahhh


Why are you swearing? and who are you swearing at?
 Quoting: Anonymous Coward 986685



BP
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Anonymous Coward
User ID: 986685
Greece
05/30/2010 06:55 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
PUSTI MALAKA ahhh


Why are you swearing? and who are you swearing at?



BP
 Quoting: aVian

British Petroleum?
Anonymous Coward
User ID: 956591
Canada
05/30/2010 07:30 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
British economists???

1rof1
 Quoting: Anonymous Coward 848174


What's so funny? The London School of Economics is one of the best Universities in the World.

And well, seeing as this financial crisis can ultimately be laid at the feet of Chicago School idiots I'd suggest

cupofjoe
Anonymous Coward
User ID: 987031
United States
05/30/2010 07:48 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Eurozone: You can check out any time you like --- but you can never leave...
Anonymous Coward
User ID: 986834
United States
05/30/2010 07:49 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Worlds biggest debt is ireland and 2nd biggest is United Kingdom. Greece´s debt is the 16th biggest. This is private and public sector debt.
Why is Greece so much in the news when there are far worst debts?

It because of their ability to pay the debt back. Greece has no chance of paying it back.




THE ONLY thing the Banks care about is if Greece can continue to "Rent" money from them ie: SERVICE THIER NEW DEBT

That is Capitalistic slavery
 Quoting: Anonymous Coward 981486


The politicians of Greece enslaving the citizens through debt is not capitalism.

another do
Anonymous Coward
User ID: 971805
Australia
05/30/2010 07:50 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
funny and informative



 Quoting: Anonymous Coward 847197

TRUE DAT. LOL.

Those guys have been taking the piss for years.
John Donson
User ID: 892700
United States
05/30/2010 08:15 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Greece defaulting means a lot of people without paychecks for some years. It would be disastrous.

What we need is:

1) fight tax evasion, which is very large, even amongst the IRS employees.

2) fight bureaucracy. There was a case of a big international corporation wanting to invest in Greece. They had to amass more than 10,000 signatures over 5 years in order to start their investment.

3) lower prices of goods and services. Most products and services are sold in Greece with more than 200% profit. Even in Tourism, rooms that should cost about 30 euros cost over 100 euros.

4) fight illegal employment and insurance fraud. Lots of people in Greece, both immigrants and natives, are employed but they don't pay insurance.

5) invest in Green energy. Greece, with so much sun and sea, could produce lots of electricity for itself and for its neighbors.

6) lay off excessive public sector employees. The amount of public sector employees is ginormous for the country's population.

Unfortunately, the above can't happen due to extreme soviet-style bureaucracy.
 Quoting: Anonymous Coward 986685

You have it all wrong! The first thing to cross off your list is Green energy. In a totally free system, the market tells you what is best and not the govt. I'm not knocking your opinion, I'm just stating fact! You should not have to pay for your energy needs if the world would unleash imagination and technolgy.
The cost of goods cannot be reduced without a reduction in the cost of materials. Companies would lose their ass if that were the case because they are the one's invested - not the end user. You want to force the govt to reduce and not the private sector.
Govt wages and benefits are what needs to be reduced. The less the govt pays the more tempted people will be to work in the private sector. Govt jobs should be for handicapped, unemployed, or elected. For somebody to get those benefits and salary that Greece does is going to bankrupt any system. The pressure has to be kept on the govt to reduce to so the private sector can expand.
To end, a country's survival comes down to it's own productivity. If more than 50% of any country is getting paid vs. paying, it will never last no matter what you do with your currency. The Euro is no different than the Mark, Drachma, Pound, etc. in this situation.
Anonymous Coward
User ID: 987108
Greece
05/30/2010 09:41 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
[link to business.timesonline.co.uk]

THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.

The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency.

Greek politicians have played down the prospect of abandoning the euro, which could lead to the break-up of the single currency.

Speaking from Athens yesterday, Doug McWilliams, chief executive of the CEBR, said: “Leaving the euro would mean the new currency will fall by a minimum of 15%. But as the national debt is valued in euros, this would raise the debt from its current level of 120% of GDP to 140% overnight.


“So part of the package of leaving the euro must be to convert the debt into the new domestic currency unilaterally.”

Greece’s departure from the euro would prove disastrous for German and French banks, to which it owes billions of euros.

McWilliams called the move “virtually inevitable” and said other members may follow.

“The only question is the timing,” he said. “The other issue is the extent of contagion. Spain would probably be forced to follow suit, and probably Portugal and Italy, though the Italian debt position is less serious.

“Could this be the last weekend of the single currency? Quite possibly, yes.”
 Quoting: aVian


I don't hear them talking much about when Britain will join the euro.
BRITAIN JOINS THE EURO.
LFMAO.
Anonymous Coward
User ID: 987108
Greece
05/30/2010 09:44 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Worlds biggest debt is ireland and 2nd biggest is United Kingdom. Greece´s debt is the 16th biggest. This is private and public sector debt.
Why is Greece so much in the news when there are far worst debts?

It because of their ability to pay the debt back. Greece has no chance of paying it back.




THE ONLY thing the Banks care about is if Greece can continue to "Rent" money from them ie: SERVICE THIER NEW DEBT

That is Capitalistic slavery


The politicians of Greece enslaving the citizens through debt is not capitalism.

another do
 Quoting: Anonymous Coward 986834


20% of that debt plus interests is going to American weapon firms..
Anonymous Coward
User ID: 987108
Greece
05/30/2010 09:46 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
British economists???

1rof1


What's so funny? The London School of Economics is one of the best Universities in the World.

And well, seeing as this financial crisis can ultimately be laid at the feet of Chicago School idiots I'd suggest

cupofjoe
 Quoting: Anonymous Coward 956591


Can London School of Economics then tell us when will Britain join the EURO, since they were barking their lungs out for smaller economies to leave the EU?

secrets
Anonymous Coward
User ID: 987108
Greece
05/30/2010 10:19 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
bsflag

if this happens it will be a real mess for everyone.


If you lazy sucks took a page of vocational and work ethics from Israel, you would not be in this predicament.
 Quoting: FubarMan


I don't know for the work ethics but their National Defense ethics kick ass.
They scammed the Germans and took their nuclear subs for free!
They build their own tanks which are top of the world right now.
They make their own electronics!.
They have a kick ass Intelligence service.
They have a kick ass air force.

They play a very tight game and they got everyone by the balls.
What is not to admire in them?

I'd say let them have Greece for 10 years and we change over to Israel, then trying staying alive in there for 10 whole years and than change back. That would solve the Greek laziness problem.
Anonymous Coward
User ID: 987539
United States
05/31/2010 08:46 AM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Worlds biggest debt is ireland and 2nd biggest is United Kingdom. Greece´s debt is the 16th biggest. This is private and public sector debt.
Why is Greece so much in the news when there are far worst debts?

It because of their ability to pay the debt back. Greece has no chance of paying it back.




THE ONLY thing the Banks care about is if Greece can continue to "Rent" money from them ie: SERVICE THIER NEW DEBT

That is Capitalistic slavery


The politicians of Greece enslaving the citizens through debt is not capitalism.

another do


20% of that debt plus interests is going to American weapon firms..
 Quoting: Anonymous Coward 987108


And? Politicians enslaving people through debt is still not capitalism, regardless of where the money goes.

If you break into my home, and spend that money at a local store, the act of you breaking into my home doesn't become 'capitalism' just because you spent the stolen money at a local business.
Anonymous Coward
User ID: 987539
United States
05/31/2010 08:47 AM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Worlds biggest debt is ireland and 2nd biggest is United Kingdom. Greece´s debt is the 16th biggest. This is private and public sector debt.
Why is Greece so much in the news when there are far worst debts?

It because of their ability to pay the debt back. Greece has no chance of paying it back.




THE ONLY thing the Banks care about is if Greece can continue to "Rent" money from them ie: SERVICE THIER NEW DEBT

That is Capitalistic slavery


The politicians of Greece enslaving the citizens through debt is not capitalism.

another do


20% of that debt plus interests is going to American weapon firms..


And? Politicians enslaving people through debt is still not capitalism, regardless of where the money goes.

If you break into my home, and spend that money at a local store, the act of you breaking into my home doesn't become 'capitalism' just because you spent the stolen money at a local business.
 Quoting: Anonymous Coward 987539


Not to mention that many "American weapon firms" themselves are heavily subsidized by politicians and are also not institutions of capitalism.
useless-eater

User ID: 949959
United Kingdom
05/31/2010 01:53 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
It's good to see the flame of liberty still burns in England, Useless-Eater.
 Quoting: Anonymous Coward 986675




It's in us all man & we are rising up on all fronts all over the world... we need to do what ever we can to oppose this shit. We are all free. We should not pay any other human being tax unless that's what we want to do.

If we don't hurt anyone then nobody has the right to hurt us or steal from us or take our liberty.

I have a non violent plan.

The world is about to get much better. Don't lose hope or just spectate.

All hands on deck & see you at the party...
Anonymous Coward
User ID: 987875
Greece
05/31/2010 02:37 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
Worlds biggest debt is ireland and 2nd biggest is United Kingdom. Greece´s debt is the 16th biggest. This is private and public sector debt.
Why is Greece so much in the news when there are far worst debts?

It because of their ability to pay the debt back. Greece has no chance of paying it back.




THE ONLY thing the Banks care about is if Greece can continue to "Rent" money from them ie: SERVICE THIER NEW DEBT

That is Capitalistic slavery


The politicians of Greece enslaving the citizens through debt is not capitalism.

another do
 Quoting: Anonymous Coward 986834


If you don't want to be enslaved, you take care not to borrow money you can't pay back.
Anonymous Coward
User ID: 987875
Greece
05/31/2010 02:44 PM
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Re: Greece Urged to Leave Euro Zone and DEFAULT ON DEBT
You have it all wrong! The first thing to cross off your list is Green energy. In a totally free system, the market tells you what is best and not the govt. I'm not knocking your opinion, I'm just stating fact! You should not have to pay for your energy needs if the world would unleash imagination and technolgy.
 Quoting: John Donson 892700


Totally 100% free market, i.e. unregulated market, does not work. The most powerful players always form oligopolies and fsck up the free market to their advantage.

The cost of goods cannot be reduced without a reduction in the cost of materials. Companies would lose their ass if that were the case because they are the one's invested - not the end user. You want to force the govt to reduce and not the private sector.
 Quoting: John Donson 892700


But the private sector sells with 500% profit. For example, milk is bought from the farmers for 0.3 euros and is sold for 1.4 euros per litre.

Govt wages and benefits are what needs to be reduced. The less the govt pays the more tempted people will be to work in the private sector. Govt jobs should be for handicapped, unemployed, or elected. For somebody to get those benefits and salary that Greece does is going to bankrupt any system. The pressure has to be kept on the govt to reduce to so the private sector can expand.
 Quoting: John Donson 892700


The correct approach would be for public workers to have a fair salary, not too big, not too small. Please don't think that public servants salaries in Greece are big. They are not. It's just there are too many public servants.

The real reason that almost everyone wants to work in the public sector is that the private sector is uncontrolled:

1) very low salaries
2) no permits for child labor
3) overtime not paid
4) no raises

To end, a country's survival comes down to it's own productivity. If more than 50% of any country is getting paid vs. paying, it will never last no matter what you do with your currency. The Euro is no different than the Mark, Drachma, Pound, etc. in this situation.
 Quoting: John Donson 892700


I agree with you. I'd like to see us become really productive. But for that to happen, we need to go through a stage of metamorphosis, but without starving to death in that state.

Let's not forget that there is no country without debt. The only reason we are in crisis is that our debt is huge compared to what we can produce.

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