Frederick Posted February 8, 2012 Share Posted February 8, 2012 Lifted from todays Express . It should by now be obvious to even the slowest learner that Greece simply cannot cope with the same exchange rate as Germany. So it needs to be released from its euro prison and also permitted to perform a partial default in order to have any prospect of recovery. A new Greek drachma would swiftly devalue, shrinking the real value of Greece’s remaining debts and making its exports much more competitive. Notably it would be able to sell vast numbers of cheap holidays. Then its economy would start to grow again. But this is what the Brussels elite really fears. Because if Greece recovers by defaulting, de-coupling and devaluing while Spain, Portugal and the rest are still suffering then the whole masterplan for European integration will be in peril. The message will go out far and wide that the euro itself is the problem and that the restoration of national economic sovereignty is the answer. Rather than admit this there are people in Brussels and Berlin who prefer to keep a boot pressed down hard on the throat of Greece. And that is a disgrace. Link to comment Share on other sites More sharing options...
Ethan1971 Posted February 9, 2012 Share Posted February 9, 2012 Paxos here I come! Link to comment Share on other sites More sharing options...
Benjamin Posted February 9, 2012 Share Posted February 9, 2012 [quote user="Ethan1971"]Paxos here I come![/quote]What are you.............chicken..............turkey? We must know. [6] Link to comment Share on other sites More sharing options...
Mr Coeur de Lion Posted February 9, 2012 Share Posted February 9, 2012 How many bailouts does this country need? Every wek we seem to here about a new bailout, or is it just the same one, but they keep calling it new? Link to comment Share on other sites More sharing options...
Frederick Posted February 10, 2012 Author Share Posted February 10, 2012 It seems they have moved the goalposts for Greece on the bailout due soon . A written agreement from all political parties in Greece is now wanted as it is felt Greece will take the bailout then not stick to the agreed rules .. So they sign up for it and then afterwards stick two fingers up and dont stick to what they agreed ........what happens then ? Would you lend money to a neighbour who was saying they had little to eat when you know the minute you give them money it will go on fine wine and lobster ? Link to comment Share on other sites More sharing options...
pachapapa Posted February 10, 2012 Share Posted February 10, 2012 Difficult decisions for future holidays.But if:1) Sarko gets in again we will not be holidaying as planned in Collioure.2) If Greece leaves the eurozone then a holiday on a greek island as a gesture of solidarity.3) If greece does not leave the eurozone then a holiday in turkey so I can express an opinion on armenians without getting thrown in prison and having my house spoliated to pay the fine. Link to comment Share on other sites More sharing options...
pachapapa Posted February 10, 2012 Share Posted February 10, 2012 The result of the greek parliamentary vote over the weekend together with the magnitude of the popular demonstrations will be interesting.http://ekathimerini.com/4dcgi/_w_articles_wsite1_26146_10/02/2012_427058http://ekathimerini.com/ Link to comment Share on other sites More sharing options...
Renaud Posted February 10, 2012 Share Posted February 10, 2012 Only 19% of the bailout goes to the Greeks the rest is recycled around the banks.http://blogs.telegraph.co.uk/news/danielhannan/100135715/the-bailout-money-wont-go-to-ordinary-greeks/I agree with the OP's analysis. John Redwood suggests the least worse solution is to let Greece go then apply for candidate status. To quote him:'Legally it would be best to implement a decision for a state to leave by transferring that member state to Article 139 status of an EU country with a derogation from joining the Euro. This would make the exit state technically a candidate state for membership, but would also require that state to demonstrate convergence of interest rates, inflation rates and exchange rate with the rest of the zone, and to show it can get its debt down to 60% of GDP and its annual deficit to less than 3%. These requirements would reinforce the discipline of the EU/IMF loans, but would also mean there would be no early re-entry for a troubled state, given the huge divergence of their debt, deficit and interest rates from the requirements.' Link to comment Share on other sites More sharing options...
pachapapa Posted February 10, 2012 Share Posted February 10, 2012 A slight kafkaïen turn.[:P]http://www.20minutes.fr/ledirect/877534/policiers-grecs-menacent-representants-ue-fmi Link to comment Share on other sites More sharing options...
Frederick Posted February 10, 2012 Author Share Posted February 10, 2012 [quote user="pachapapa"]A slight kafkaïen turn.[:P]http://www.20minutes.fr/ledirect/877534/policiers-grecs-menacent-representants-ue-fmi[/quote] Is this a decaration by the Police they plan to stay tucked up in their Police Stations if required by the union rep Rather than face mum dad and brother and sister banner waving on the streets ? Link to comment Share on other sites More sharing options...
pachapapa Posted February 10, 2012 Share Posted February 10, 2012 [quote user="Frederick"][quote user="pachapapa"]A slight kafkaïen turn.[:P]http://www.20minutes.fr/ledirect/877534/policiers-grecs-menacent-representants-ue-fmi[/quote] Is this a decaration by the Police they plan to stay tucked up in their Police Stations if required by the union rep Rather than face mum dad and brother and sister banner waving on the streets ? [/quote]The Reuters version.http://www.reuters.com/article/2012/02/10/greece-police-idUSL5E8DA3ED20120210 Link to comment Share on other sites More sharing options...
pachapapa Posted February 10, 2012 Share Posted February 10, 2012 A collection of Greek Holiday Pictures from a well known journal.http://www.spiegel.de/fotostrecke/fotostrecke-78449.html Link to comment Share on other sites More sharing options...
Frederick Posted February 11, 2012 Author Share Posted February 11, 2012 http://www.france24.com/en/20120210-greeces-eu-future-precarious-five-politicians-resign-economy-bailout-euro Link to comment Share on other sites More sharing options...
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