Thread: Will Greece default?

Originally Posted by LeoVlaming

Historically speaking sovereign defaults are not that rare.
Russia defaulted in the 90s and came out quite OK.

link to historical data on stock market, currency ,jobs, and international lender evaluations around that time.


Or, did you leave those out for a reason?

Originally Posted by SlevinKelevra

link to historical data on stock market, currency ,jobs, and international lender evaluations around that time.


Or, did you leave those out for a reason?

I already figured you really didn't know what you were talking about.
Actually, Russia was less of an economic basket case then than Greece is now.

Originally Posted by LeoVlaming

I already figured you really didn't know what you were talking about.
Actually, Russia was less of an economic basket case then than Greece is now.

And yet, you can't link to sources to prove your point...

Originally Posted by SlevinKelevra

And yet, you can't link to sources to prove your point...

Unlike you I know what I write about in my posts.

Originally Posted by SlevinKelevra

And yet, you can't link to sources to prove your point...

If you had even a clue about the topic you are commenting on then you would know that the 1998 Russian default resulted in a stabilization of the Russian economy, a rise in production, a fall in unemployment, etc.

Originally Posted by Anglo-scot

Ok. The other side of the coin would be that the IMF and ECB didn't assess the level of structural changes necessary to pay back the debts but would now find that difficult to admit. If so, Greece could exploit that mistake a little more than they are entitled to, in the light of domestic pressures.

Exploitation is how Greece got itself into this mess in the first place.

Initially they exploited the EU by gaining entry under false pretenses and then their creditors.

Who wound up holding untold amounts of worthless Greek debt

Originally Posted by Fenton

Exploitation is how Greece got itself into this mess in the first place.

Initially they exploited the EU by gaining entry under false pretenses and then their creditors.

Who wound up holding untold amounts of worthless Greek debt

If that is so, then more fool the eurozone countries and the EU institutions. Greece is the worst casualty of the eurozone but Italy and Spain are suffering too. Something has to give sooner or later.

Originally Posted by Fenton

Well, they really have no one to blame but themselves for all of this.

To add insult to injury they elected some Socialist clown who's first order of Bussiness was to gin up some German war crime narrative.

It was Greece's attempt to scam their way out of paying their creditors and it was a exceptionally low life thing to do.

If the US stops printing funny money - it too will resort to scamming, lying, cheating, stealing - at greater levels than it already has and is. And that's going to be a hard standard to beat. But we have creatively dishonest government. They'll figure out a way to take us down even more.

Socialistic behaviors in our government has been around since the invent of America. And every right wing politician in Washington has played a significant role in this behavior since the very beginning of our nation. It's the mechanism that feeds them - just like those on the left.

Originally Posted by Ryan5

Great. Switzerland and Greece. I think Greece will default. There have been huge withdrawls from the Greek banks, hundreds of billions, and that would indicate the the gerneral citizenry expects a default and are getting Euros while they can. I personally believe that default is Greece's best option. Banks are running Nations in our age and in the recent past, when Citizens suggested banks ran the World, it was immediately denied as Conspiracy Theory. Now that it is obvious that certain banks are running the Western World, where are our Conspiracy Theory realists? Also, where are the deniers? Should banks run our World?