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Greece : Will it soon be the place for a cheap holiday ?


Frederick

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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.
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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 ?

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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.

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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.'

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[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 ?

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[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

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