Greece Urged to Leave Euro Zone and DEFAULT ON DEBT

You didn't answered! Are you a PASOKos??????

: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?

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)

PUSTI MALAKA

PUSTI MALAKA


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

PUSTI MALAKA


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



BP

British economists???

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

funny and informative

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.

[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.”

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.

British economists???




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

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.

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.




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

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.




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.

It's good to see the flame of liberty still burns in England, Useless-Eater.

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.

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.