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Will Greece default?

Will Greece default?


  • Total voters
    23
That's just throwing good money after bad. The Greek economy has to be completely built up from scratch. Greece should default in an orderly way and leave the Euro (perhaps even the EU, but not the EEA).

It's hard to really offer a rebuttal, when there is literally no such thing.
 
It's hard to really offer a rebuttal, when there is literally no such thing.

There is such a thing. But I understand you believe that it is better to decide that from now on all Eurozone agreements, and the Euro itself, basically are not worth the paper they are written on and that this would be "orderly". I beg to differ.
 
There is such a thing. But I understand you believe that it is better to decide that from now on all Eurozone agreements, and the Euro itself, basically are not worth the paper they are written on and that this would be "orderly". I beg to differ.

Link to where I suggested such?

I'll be waiting. Meanwhile, maybe you can offer citation proof of where an "orderly default" has happened.
 
I'll be waiting. Meanwhile, maybe you can offer citation proof of where an "orderly default" has happened.

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

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?
 
This is what I think will (or should) happen. Since Greece will run a small surplus, like it did last year. To do so, it needs to have some temporary relief so it can run that surplus and get the economy back in shape.

It isn't in anyone's interest to have a default.
 
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?

Greece was an extremely corrupt country via tax evasion being common place long before their economy collapsed. Also Greece had very little big business. Almost all their economy is mom and pop places. In harsher terms, Greece didn't and still doesn't have a modern economy. Greece lived for years off the benefit of other, richer nations in the EU that did (and still do) the work while Greece sat and lounged with drink in their hands.


Is it sad what happened to Greece? It is. Is it the natural end result for a country that has no modern economy during bad economic times? Yes. Greece was always going to collapse. It is a backwards, anti-business, anti-tax collection society.


Greece's collapse had absolutely nothing to do with banks. It had to do with Greece being backwards and stuck in the past. Banks are actually the only reason Greece continues to exist as a country.
 
Not only will Greece default, but so will those cities under Democratic rule with high union pension-related liabilities and high welfare outlays. They're unsustainable.
 
Greece hasn't defaulted yet, but it exercised its option to bundle its IMF payments. From Bloomberg.com:

“The Greek authorities have informed the fund today that they plan to bundle the country’s four June payments into one, which is now due on June 30,” IMF spokesman Gerry Rice said in an e-mailed statement. “Under an Executive Board decision adopted in the late 1970s, country members can ask to bundle together multiple principal payments falling due in a calendar month.”

Greece Defers IMF Payment as Merkel Says Resolution Far Away - Bloomberg Business
 
Not only will Greece default, but so will those cities under Democratic rule with high union pension-related liabilities and high welfare outlays. They're unsustainable.

And State's.

California unfunded pension liabilities are the highest in the Nation.

Their solution to this ?

Tax the " rich " and Bussiness. In other words drive out theit tax base to Red States
 
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