Europe scrambles to pick up pieces of Greek talks failure

SocialDemocrat said:

Sorry, the European Commission was the term I was looking for.



Pushing Greek citizens into poverty is clearly the wrong solution. They are being punished for the irresponsible actions of their government; there is no moral justification for that.

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What was the " moral justification " for thd Greek Government distributing billions in worthless bonds throughout European banks ?

Bailing out Socialist is the wrong policy, clearly.

Primarily because the bailouts would never stop and the corruption and the ideology that sunk Greece would bring down Nations who followed the rules.

There's a lesson to be learned here that Greek population clearly missed.

Fenton said:

What was the " moral justification " for thd Greek Government distributing billions in worthless bonds throughout European banks ?

Bailing out Socialist is the wrong policy, clearly.

Primarily because the bailouts would never stop and the corruption and the ideology that sunk Greece would bring down Nations who followed the rules.

There's a lesson to be learned here that Greek population clearly missed.

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Because the Greek working class was clearly directly involved in distributing billions in bonds... :roll:

Higgins86 said:

It is all starting to unravel and if Greece leave I predict it will start an exodus with countries like Ireland, Italy, Spain looking to follow them. We have a big vote ( hopefully) in the next couple of years and right now I dont see any reason why Britain should stay on this sinking ship.

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Even if Greece leaves, which is far from assured even if it defaults, I don't think that outcome will produce an exodus of countries from the EU. The EU has been maintained and deepened economically and politically. I don't think one should underestimate the benefits of economic and labor market integration, not to mention the historical basis that drove that integration. The EU is not a flimsy arrangement. It has survived much and its core countries remain deeply committed to its preservation.

A Greece default could lead to a scenario where Greece drops the Euro but remains within the EU. Recent opinion polls show Greeks do not want their country to leave the EU and many would prefer to retain the Euro.

Finally, I suspect that in the wake of Greek situation, whether or not it defaults, Europe will be more cautious about the entry of new states. For example, Ukraine, which appears poised to write-down its own debts, will likely find itself locked out of full membership for the foreseeable future.