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Whither thou, Greece...

Whither thou, Greece...

Old Sep 15th 2011, 8:08 am
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Default Whither thou, Greece...

What is so damn important about keeping Greece in the Euro?

The country's proven to be a liar and cheat. The Greek government abused the privileges of being in the Euro in every imaginable way.

Most Greeks don't want to be in the Euro anymore as they'd rather not implement the draconian austerity policies being enforced by Germany.

Most Germans don't want Greece in the Euro because they don't want to keep bailing out the country.

The solution is simple: kick Greece out of the Euro.

Thus the puzzling question is why are the various political leaders so committed, at apparently all costs, to keeping Greece in the Euro?

I'm well aware of the domino theory that if Greece goes, so will Italy/Spain/Portugal. On the other hand I'm left wondering that if the EU leaders spend so much political and economic capital in rescuing Greece, there won't be enough left to save the rest of the PIIS, whose economies are far more important to the larger European economy that piddling little Greece.

Surely it's better to cut losses, set Greece off to fend for herself and then try shoulder up Italy and Spain?
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Old Sep 15th 2011, 8:16 am
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Default Re: Whither thou, Greece...

Originally Posted by Ethos83 View Post
What is so damn important about keeping Greece in the Euro?

The country's proven to be a liar and cheat. The Greek government abused the privileges of being in the Euro in every imaginable way.

Most Greeks don't want to be in the Euro anymore as they'd rather not implement the draconian austerity policies being enforced by Germany.

Most Germans don't want Greece in the Euro because they don't want to keep bailing out the country.

The solution is simple: kick Greece out of the Euro.

Thus the puzzling question is why are the various political leaders so committed, at apparently all costs, to keeping Greece in the Euro?

I'm well aware of the domino theory that if Greece goes, so will Italy/Spain/Portugal. On the other hand I'm left wondering that if the EU leaders spend so much political and economic capital in rescuing Greece, there won't be enough left to save the rest of the PIIS, whose economies are far more important to the larger European economy that piddling little Greece.

Surely it's better to cut losses, set Greece off to fend for herself and then try shoulder up Italy and Spain?
The olive growers haven't been kicked out as no one knows how to.

A good insight is here:
http://www.scribd.com/doc/64020390/xrm45126
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Old Sep 15th 2011, 8:26 am
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Default Re: Whither thou, Greece...

Hmph.

The Euro: created by bureaucrats, imposed by bureaucrats and now suffocated by bureaucrats.


Originally Posted by Millhouse View Post
The olive growers haven't been kicked out as no one knows how to.

A good insight is here:
http://www.scribd.com/doc/64020390/xrm45126
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Old Sep 15th 2011, 8:50 am
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Default Re: Whither thou, Greece...

Originally Posted by Ethos83 View Post
Hmph.

The Euro: created by bureaucrats, imposed by bureaucrats and now suffocated by bureaucrats.
It was always going to fail one way or another but I guess no one saw this one coming. At least the Turks are no longer interested in joining (given their recent behavior).

The other problem is that if they kick out the olive growers then the bond market will chase the dagos. The ECB will be under enormous pressure to underwrite them (and the rest of Europe) which will call into question the credit worthiness of the ECB. It's probably why they are happy to leave the attention on the Greeks as they can cover that.
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