Godlike Productions - Conspiracy Forum
Users Online Now: 2,802 (Who's On?)Visitors Today: 1,013,621
Pageviews Today: 1,393,034Threads Today: 282Posts Today: 5,309
11:12 AM

Back to Forum
Back to Forum
Back to Thread
Back to Thread
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 copyright violation:


This Flag Represents The Principle, "Fight For What You Believe In."

This Is The Rebel Flag, "You're Either Free Or You're Not."