moothemagiccow: Someone explain to me why I'm a farking idiot.
WTF Indeed: and Greece will become a third world hellhole
WTF Indeed: It's pretty much over. The Germany and France will use the money for Greece to bailout French banks holding the bad debt. Greece will vote in super socialists that will destroy the economy.
SuperT: Honestly, germany and france need to team up, and slap a biatch.
Corporate Self: Remember what happened when Europe put punishing austerity on Germany after WW I? A return to Greek fascism is a real possibility.Once established, it can easily spread to other troubled economies like Spain and Italy.
ablank: Leaving the Euro would crush the Greek banking sector to powder and cause massive disruption, but the Greek banking sector is already getting crushed by capital flight and not leaving the Euro basically guarantees that Greeks live in misery for the next 20 years.
madgonad: Is this the national equivalent of going to the grocery store before a big storm hits to get bread and milk?
dragonchild: how do you threaten a dying man?
dragonchild: ablank: Leaving the Euro would crush the Greek banking sector to powder and cause massive disruption, but the Greek banking sector is already getting crushed by capital flight and not leaving the Euro basically guarantees that Greeks live in misery for the next 20 years.This is the part Fark EconomistsTM don't seem to get. They're demanding that Greek must suffer to atone for their fiscal irresponsibility. On principle, I get that. But anyone who thinks there's a hope of this happening has absolutely no idea how the world works. So, in other words, an economist.Greek is suffering now. Regardless of their sins, the country is broke, the economy is in shambles, the people are rioting, the government is not in control and there's no relief in sight. That's not to say they don't deserve their fate, but the question is, how do you threaten a dying man? The banks are putting pressure on Germany to put pressure on Greece to pay back its debts. Or. . . what? They'll get booted out of the Eurozone? They won't lend Greece any more money? What incentive does Greece have to play nice when they're already getting shiat on?Don't get me wrong; I'm not absolving Greece of responsibility in any way, shape or form. I'm asking how you get a bankrupt government with no control over its citizenry to pay back loans with money it doesn't have using threats that aren't any worse than what's coming anyway. The answer is, you can't. The banks can use their PR departments to demonize Greece in the US media all they want, and yes to clarify Greece deserves no sympathy, but things can't get any worse for them so what the fark do they care? It's like threatening a tenant who just slit his wrists with eviction for bleeding on your carpet. You realize how stupid that is? He's gonna die anyway; even if you did nothing wrong -- fark principle, you realize you have no leverage, right? He might as well just keep bleeding on your rug until you drag him out, just to spite you, and that's pretty much what Greece is doing."You're only making it worse for yourself""It can't get any worse! Jehovah, Jehovah, Jehovah!"
Debeo Summa Credo: the Greeks leaving the euro, with all the terrible implications of that for the Greek economy.
Sergeant Grumbles: Debeo Summa Credo: the Greeks leaving the euro, with all the terrible implications of that for the Greek economy.Staying with the Euro has terrible implications for the Greek economy.What is it really comes down to is that in one scenario, the banks get paid at all, and in the other, Greece flips them the bird. Either way, it's shiatty for the Greeks.
Debeo Summa Credo: If Greece defaulted now, investors would lose more and demand even higher premiums for lending to other european countries. And Greece wouldn't have any access to euros to use to continue their deficit spending!
ablank: The economy has been destroyed by the people currently running it.
Sergeant Grumbles: Debeo Summa Credo: If Greece defaulted now, investors would lose more and demand even higher premiums for lending to other european countries. And Greece wouldn't have any access to euros to use to continue their deficit spending!I'm sure the Greeks don't give a shiat, since they don't have access to Euros anyway. Exactly like I said, Greece is farked either way, and the only difference is whether or not they tell the banks to go fark themselves.They'll have a tougher slog than Iceland should they do so, but it's in every Greeks' best interest, as it will be the only way they aren't forced to sell off every last crumb of their country to these economic charlatans..
Corporate Self: I wonder what excuses we will make when its America and no longer Greece.We are on the same road, they are just a bit father a long.
Komplex: Iceland was right.
Debeo Summa Credo: What you "austerity is killing the Greeks" folks don't realize is that the only alternatives to austerity are the northern europeans literally giving money to greeks, or the Greeks leaving the euro, with all the terrible implications of that for the Greek economy.
dragonchild: But anyone who thinks there's a hope of this happening has absolutely no idea how the world works. So, in other words, an economist.
CheatCommando: You, sir, owe me a new keyboard.
beta_plus: You know what would help Greece?
beta_plus: Spending more money that they don't have and which no one will lend them!
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