Godlike Productions - Conspiracy Forum
Users Online Now: 2,068 (Who's On?)Visitors Today: 1,650,017
Pageviews Today: 2,249,167Threads Today: 546Posts Today: 11,051
07:59 PM


Back to Forum
Back to Forum
Back to Thread
Back to Thread
REPORT ABUSIVE REPLY
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
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


The problem with depreciation of local currency is debt in foreign currency. Similar to what happened in Mx in 1994/5. One way out is to organize debter Unions, to negotiate with banks as a group. Otherwise you're screwed if you have to face them alone...
 
Please verify you're human:




Reason for reporting:



News