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Author Topic: Greece v3.0  (Read 1082 times)

Jamie B

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Greece v3.0
« on: August 21, 2012, 07:48:48 PM »
Greece needs more time to reform, PM Samaras tells paper

http://news.yahoo.com/greece-needs-more-time-reform-pm-samaras-tells-220304959--business.html

Quote
BERLIN (Reuters) - Greek Prime Minister Antonis Samaras wants international lenders to give his indebted country more time to complete reforms that have been demanded as a condition for financial aid, he told Germany's Bild newspaper.

Some of he stats given in the article are quite interesting:
Quote
A Greek exit from the euro zone, which many politicians in Germany and elsewhere have talked about recently, would be a nightmare for Greece and would reduce the standard of living by a further 70 percent, Samaras said.
« Last Edit: August 21, 2012, 08:15:08 PM by adively »
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Blakenzy

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Re: Greece v3.0
« Reply #1 on: August 21, 2012, 09:55:35 PM »
What happens to the rest of the Eurozone if Greece leaves with out settling the debt?
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Jamie B

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Re: Greece v3.0
« Reply #2 on: August 21, 2012, 10:11:56 PM »
Not much, if there is no bailout money paid, I would hope.
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Greatness lies not in being strong, but in the right use of strength - Henry Ward Beecher

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Scout26

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Re: Greece v3.0
« Reply #3 on: August 22, 2012, 01:31:25 PM »
Quote from: Blakenzy on August 21, 2012, 09:55:35 PM
What happens to the rest of the Eurozone if Greece leaves with out settling the debt?

Well, Greece would have to bring back the Drachma.  Substantially devalued. Greece would be a shopper's and tourist paradise.  They would have to get their economic house in order as the .gov will have very little to no money.  Although there will be some morons (Yeah IMF, I'm looking at you) that would loan them money.


If Greece defaults, then Spain, Portugal, Ireland, and Italy will probably quickly follow suit.   That would leave the Germans holding the bag, and being very unhappy.  You won't like it when the Germans are unhappy.  
« Last Edit: August 22, 2012, 01:50:15 PM by scout26 »
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dogmush

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Re: Greece v3.0
« Reply #4 on: August 22, 2012, 01:35:32 PM »
The Germans have been in bad economic positions before.  It's not like they'll invade Pol.....Oh yeah, that's right.
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longeyes

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Re: Greece v3.0
« Reply #5 on: August 22, 2012, 01:37:38 PM »
It will be a good time to vacation in Greece--provided you are far away from the bomb-throwers.
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brimic

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Re: Greece v3.0
« Reply #6 on: August 22, 2012, 01:45:36 PM »
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The Germans have been in bad economic positions before.  It's not like they'll invade Pol.....Oh yeah, that's right.

Look on the bright side- they will almost assuredly invade France.
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Scout26

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Re: Greece v3.0
« Reply #7 on: August 25, 2012, 11:39:51 AM »
Here's the German take on things.  They have two economists present their views.

http://www.dw.de/dw/article/0,,16192960,00.html


Quote
In the event of a Grexit, German banks would have to write off this investment in the Greek state and might have to again turn to the German government for help. The final bill for Germany could come to 120 billion euros, about 4.5 percent of the German gross domestic product (GDP).
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Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
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SADShooter

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Re: Greece v3.0
« Reply #8 on: August 25, 2012, 01:30:25 PM »
Quote from: brimic on August 22, 2012, 01:45:36 PM
Look on the bright side- they will almost assuredly invade France.

If they march in during the vacation season and refuse the vacationers reentry, it might become worth a visit. :rofl:
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