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Message Subject GREECE SITUATION UPDATES: The death of a 19-year-old Greek student has come to symbolize everything that's wrong with austerity!!!
Poster Handle Anonymous Coward
Post Content
Germans are not happy at all either.

They talk about democracy in Europe. But I haven´t been able to find anyone who´s happy about what´s going on, who wants the euro. And there are no parties offering an alternative.
 Quoting: Anonymous Coward 28660470

I know Germans are not happy with it too. I found people that are happy with it tbh coz they've made more money with it, corporations and banksters are for sure the only winners of this social-economic experiment.

Btw, the most likely conversion would be 1:1 initially. Then the drachma, lira, peseta, etc. would rapidly depreciate.

The devaluation, however, would make it easier to create jobs.

Devaluation alone won´t solve the problem. Would just give some respite. But the current combination of structural problems and hard currency is lethal.
 Quoting: Anonymous Coward 28660470

I heard that ours will be about 50-60% of the euro value, will see i guess, i expect the next 3-5 years to be very tense from a social perspective here and agree that the current combination is lethal, we should have defaulted hard in 2009. If WW begins in the ME though i honestly have no idea what exactly will happen and how many years it will take to recover, it's a game-changer event.
 Quoting: insertfunnyusername

And politicians, I guess, since they´re running the show as they please. They´ve also repeatedly talked about the "opportunity" offered by crises to get countries to give up their sovereignty...

That probably explains why Greece has been held inside the euro. Otherwise, the whole project would fall apart.

In the presentation linked before, she also talks about banks writing CDS, which are insurance policies against sovereign defaults. They are profitable, but if a country defaults it´s expensive. By mere chance, all these technocrats, central bankers, etc., come from the same banks... and ensure there is no default.

What a coincidence, eh?
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