bigsexydoug Posted May 15, 2012 Share Posted May 15, 2012 although the shock waves will go through europe, they will mainly be political shock waves, the money greece borrowed cannot be repaid as it stands now and the more money they lend them are only making it worse, dont forget without greece the euro will actually be a stronger currency as it will not be pulled down by greece any longer, the question is what serious plans are in place for italy, spain, portugal and ireland when greece does defualt ? Link to comment Share on other sites More sharing options...
Magnese Posted May 15, 2012 Share Posted May 15, 2012 I paid 12 Euros for a bottle of water last week. Link to comment Share on other sites More sharing options...
I1L2T3 Posted May 15, 2012 Share Posted May 15, 2012 Greece lied to get into the Euro and now their chickens are coming home to roost along with Germany and other nations that knew they had lied but chose to ignore it. Who else helped out with the covering up of Greece's real financial state? Any commercial companies? Link to comment Share on other sites More sharing options...
I1L2T3 Posted May 15, 2012 Share Posted May 15, 2012 Out of the Euro they at least have a chance of rebuilding their economy though tourism and agricultural exports. If they stay in the Euro then all the austerity and bailouts is simply kicking the can up the road for a few months till further bailouts and further cuts are needed. Yes, the debt can never ever be repaid as it is. And each bailout piles more debt onto the Greeks. They need to get out and start again. They will be better for it. And so will Europe. If a couple of banks get taken down then great. Link to comment Share on other sites More sharing options...
andygardener Posted May 15, 2012 Share Posted May 15, 2012 Who else helped out with the covering up of Greece's real financial state? Any commercial companies? The French government, the Greek government and the European Commision conspired to defraud. If they used some hired help which they likely did as all criminal masterminds tend to does that mean we need let them off the hook and focus on the hired help? Link to comment Share on other sites More sharing options...
I1L2T3 Posted May 15, 2012 Share Posted May 15, 2012 The French government, the Greek government and the European Commision conspired to defraud. If they used some hired help which they likely did as all criminal masterminds tend to does that mean we need let them off the hook and focus on the hired help? Not at all. I'm making the point that at least one major global bank was closely involved as well. Perhaps a little something to remember for people who staunchly defend the banks. Link to comment Share on other sites More sharing options...
andygardener Posted May 15, 2012 Share Posted May 15, 2012 Not at all. I'm making the point that at least one major global bank was closely involved as well. Perhaps a little something to remember for people who staunchly defend the banks. Goldman Sachs involvement was utterly periferal in comparison to the fraud the greek government carried out, and GS's involvement was at the behest of the same. Banks would sell their granny for a dollar, we know this, we expect this. By focusing on banks and not elected leaders and unelected overlords in brussels as the real cause of this mess we risk missing the point. Yerp as a bloc is a failed idea. We need to move on and do so quickly. Link to comment Share on other sites More sharing options...
I1L2T3 Posted May 15, 2012 Share Posted May 15, 2012 Goldman Sachs involvement was utterly periferal in comparison to the fraud the greek government carried out, and GS's involvement was at the behest of the same. Banks would sell their granny for a dollar, we know this, we expect this. By focusing on banks and not elected leaders and unelected overlords in brussels as the real cause of this mess we risk missing the point. Yerp as a bloc is a failed idea. We need to move on and do so quickly. I'm not focusing on banks, just including them because they were involved. Hardly a peripheral role either. The 2001 deal was a huge deal even by GS standards. Link to comment Share on other sites More sharing options...
mj.scuba Posted May 15, 2012 Share Posted May 15, 2012 Who else helped out with the covering up of Greece's real financial state? Any commercial companies? Probably the EU Commission, they don't seem too good at being audited and having their accounts independently signed off/verified. Fine thing to lecture the Greeks if the Commission are setting the standard. Link to comment Share on other sites More sharing options...
Taximark Posted June 6, 2012 Share Posted June 6, 2012 Was talking to a few greeks last week in Kos, they would all welcome the Drag back and hate the Euro. Link to comment Share on other sites More sharing options...
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