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Will Greece become the domino that sinks the Euro?

Forums: Economy, Europe, Inflation, Euro
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roger
 
  1  
Reply Sat 18 Jun, 2011 03:27 pm
@Walter Hinteler,
Egypt had demonstrations. The photos I see from Greece look like riots to me, but your perceptions could well be different.

Obviously, I was kidding about riots/demonstrations being tourist attractions. I was trying to point out that if a country's economy were even partially dependent on tourist traffic it would be somewhat counterproductive to scare off those tourists. Doesn't seem to bother the Greeks, but that's not the only problem they have.
ehBeth
 
  1  
Reply Sat 18 Jun, 2011 03:31 pm
@Lustig Andrei,
Laughing Andy ! so good to see you again.
Walter Hinteler
 
  1  
Reply Sat 18 Jun, 2011 03:32 pm
@roger,
It doesn't bother tourists either.

From The Guardian
Quote:
Imagine that in its worst year of our recent recession, the United States government had decided to reduce its federal budget deficit by more than $800bn – cutting spending and raising taxes to meet this goal. Imagine that, as a result of these measures, the economy had worsened and unemployment soared to more than 16%; and then the president pledged another $400bn in spending cuts and tax increases this year. What do you think would be the public reaction?

It would probably be similar to what we are seeing in Greece today, ... ... ...
cicerone imposter
 
  1  
Reply Sat 18 Jun, 2011 03:43 pm
@Walter Hinteler,
The Guardian seems to understand why any austerity program for Greece is a big mistake; if they continue to cut spending and increase taxes, they're going to find more people out of work with less tax revenue - not more.

0 Replies
 
patiodog
 
  1  
Reply Sat 18 Jun, 2011 04:31 pm
Just let me know when I start getting paid in yuan.
hawkeye10
 
  1  
Reply Sat 18 Jun, 2011 05:10 pm
@cicerone imposter,
The question you should be asking is "will the failure of the US and European political systems cause the global economic system to further collapse into depression?"....the answer is that this is highly likely. Nobody gives a **** about Greece, it could disappear and almost no one would notice, but their default on their debt may well be the spark the blows up the financial system.
cicerone imposter
 
  1  
Reply Sat 18 Jun, 2011 05:14 pm
@hawkeye10,
hawk, That's another question - that you can ask.
0 Replies
 
dlowan
 
  2  
Reply Sat 18 Jun, 2011 06:05 pm
@hawkeye10,
Large numbers of people give a great deal about Greece. What a tiny, foetid little space you inhabit in so many ways....
0 Replies
 
dlowan
 
  1  
Reply Sat 18 Jun, 2011 06:07 pm
@patiodog,
Sure worries me. Not sure how many bailouts they can get.
hawkeye10
 
  1  
Reply Sat 18 Jun, 2011 06:20 pm
@dlowan,
dlowan wrote:

Sure worries me. Not sure how many bailouts they can get.
The bigger problem is that at the time those who did the bailout told the people that this action should solve the problem, now a year latter the Greeks are out of money again and now those who did the bailout say "damn, we knew that the bailout would not solve the problem, but we are surprised by how quickly it fell apart". Why would the capitalists listen to this crowd again, they who now admit that they lied? Why should the citizens believe anything that their political leaders say now??
roger
 
  1  
Reply Sat 18 Jun, 2011 07:40 pm
@Walter Hinteler,
I'm hoping that Germany in its period of hyperinflation would be the model we choose, not the Greek. Not that we are going to sell that idea to the Guardian.
0 Replies
 
JTT
 
  -1  
Reply Sat 18 Jun, 2011 07:44 pm
@hawkeye10,
Quote:
Why should the citizens believe anything that their political leaders say now??


You say this like you think you've made a new discovery.
0 Replies
 
cicerone imposter
 
  1  
Reply Mon 20 Jun, 2011 02:18 pm
@dlowan,
It's not only about the number of bailouts they are willing to provide Greece; how is the Euro maintaining value when the only possible outcome is a currency crash?

Does this mean that the US currency is safe? LOL
0 Replies
 
Lustig Andrei
 
  1  
Reply Tue 21 Jun, 2011 09:07 pm
@ehBeth,
Viel Danke, Freulein Beth. Und wie gehts mit ihnen?
Bean12
 
  1  
Reply Tue 21 Jun, 2011 09:09 pm
@cicerone imposter,
No but theUS might
patiodog
 
  1  
Reply Tue 21 Jun, 2011 10:06 pm
@Bean12,
Yeah, we could lend them a ton of borrowed money. At some point the piper comes a-calling, don't he?
tenderfoot
 
  1  
Reply Tue 21 Jun, 2011 10:32 pm
@patiodog,
I traveled through Europe 53 years ago by train... in Germany you would of needed a wheel barrow to haul the Mark to the bake house for a loaf of bread ... l
What is happening in Greece is chicken ****.
saab
 
  2  
Reply Wed 22 Jun, 2011 12:17 am
@tenderfoot,
1957 the price of Bread in Germany was 0,72 DM per kilo.
You hardly needed a wheel barrow for that.
But if you had travelled in Germany in 1923 it would have been another matter.
0 Replies
 
ehBeth
 
  1  
Reply Wed 22 Jun, 2011 04:06 pm
@Lustig Andrei,
Sehr gut, danke. Sie wurden verfehlt.
0 Replies
 
 

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