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Greece looking to the right for solutions ?

Discussion in 'European Politics' started by dogtowner, Apr 30, 2012.

  1. dogtowner

    dogtowner Moderator Staff Member

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    time will tell, specifically May 6

    cant blame the people for wising up and realizing why they have the problems they do. too bad they dug the hole so deep, going to be very hard for them. perhaps America can wise up as well before we dig that deep (and we're not far from 'that deep').


     
  2. Cruella

    Cruella Well-Known Member

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    Didn't Greece just vote in an ultra liberal like France? Europe is going down...I wonder just how far they are going to drag us with them.
     
  3. dogtowner

    dogtowner Moderator Staff Member

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    more a matter of their impact on europe which then impacts us. can't be a good thing with europe nations sliding into recession or worse.
     
  4. Cruella

    Cruella Well-Known Member

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    If they all pull out of the EU and use their own currency, how would that affect the euro and the banks here?
     
  5. dogtowner

    dogtowner Moderator Staff Member

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    thats complicated.

    on the one hand, if Europe doesn't need to worry about proping Greece up its easier to prop up the other prolem children. only problem is that a defaulting Greece means a lot of rapidly impoverished euro entities (and ours as well along with everyone else, never good) and its never been a worse time for that.

    perhaps worse is that iit becomes easier to punt problem nations and that will most likely lead to a collapse of the eurozone. all that just makes for worries for the markets and that hurts here.
     
  6. Cruella

    Cruella Well-Known Member

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    But it's not just Greece. Italy isn't far behind. They could all fall like dominos.
     
  7. dogtowner

    dogtowner Moderator Staff Member

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    and Spain and a few others as well. dominos indeed.
     
  8. Aus22

    Aus22 Well-Known Member

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    The Eu was formed to prevent the many wars between Germany and France over the last 200 years. It has worked giving peace for nearly 70 years. As long as they stay in the EU it will continue to work. It does not matter so much if Greece, Spain or Italy leave. It is more than an economic union.
     
  9. Aus22

    Aus22 Well-Known Member

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    Greece will most likely elect an extreme left wing government at the next election. Whatever solution they will not accept the right wing German policy of austerity.
     
  10. Gipper

    Gipper Well-Known Member

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    You may be right. And what will the consequences be of a left wing government in Greece? If they continue to expand government spending, their nation will implode entirely...then the German austerity program will look very good, but will be too late to implement. Greece will be a nation mired under tons to debt that could take many decades to overcome...and much of Europe, Japan, and the US are headed in the same direction.

    Isn't socialism grand?

    And I love the use of the word 'austerity.' Leftists are using it to condemn the only course of action for survival versus destruction...which of course is what the leftists are offering.
     
  11. Aus22

    Aus22 Well-Known Member

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    The Left wing party likly to win in the next Greek election. is not the Socialist party but a more extreme group. Neither the Conservatives or the Sciaist got support becaue they supported austerity. An extreme right wing Nazie party is also likely to gainseats because it also oppose austerity. If you are out of work or working long hours for little pay who would you support. The effect of Greece leaving the EU would be that they coould pay back th debt in their own currency the drachmar. The creditors would get less that way. It will effect the creditor nations likely Germany more. I suspect a new government will introduce Keynsian spending which will end the recession in Greece like it has in Australia. I do not know how the USA will be effected but surely they must take the blame for starting the GFC
     
  12. Gipper

    Gipper Well-Known Member

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    Yes...the Greeks likely will reinstitute their own currency and what do you think it will be worth? Will you accept payment in worthless fiat money? I think not.

    And you think MORE Keynesian spending is the answer. I can't disagree more. If Greece and other nations follow your advice, they will be the new Wiemar Republic.
     
  13. dogtowner

    dogtowner Moderator Staff Member

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    if they cannot borrow money to spend, they will not be able to spend it.
     
  14. Gipper

    Gipper Well-Known Member

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    Yes but they will be required to pay the interest on their existing debt. So, what little productivity the Greeks generate will be taken from them to service that debt...hence complete collapse leading to anarchy.
     
  15. dogtowner

    dogtowner Moderator Staff Member

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    anarchy or brutal dictatorshio just like Zimbabwe enjoys with Robert Mugabe.
     
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