Greece Elections

Just say that a deal is reached and Greece gets its next bailout and ELA money... What happens in a few years time when we have the same problem because the austerity measures haven't worked?

(That's a genuine question)
 
Greece needs debt relief not bailouts, they should just wipe the slate clean rather than having to borrow more money, they should just wave two fingers at Germany
 
Take not that Greece has not received a single Euro since March 2014, i mean it - not a single Euro coin. Greece needs some space to develop again and we will pay back the loans, we just need to get away from headlines and calm the population down.

Nobody invests in anything, eveybody have their money locked away and await
 
Was reading an article on the BBC earlier. It speculated about what the ECB might do in the case that Greece defaulted.

It said that the ECB could just print more Euros to the tune of what the Greeks owe.

That more than anything else underlined to me that our currency is not based on anything at all. It's not based on gold, or anything concrete. Its value is entirely made up.

Say if Greece owes the EU 150 billion, then defaults. The ECB prints 150 billion new Euros. In that case, what the hell has just happened?

Why are they worried about Greece repaying, if the ECB will just make new money if it doesn't?

Honestly, my head hurts.
 
FoxEye said:
Was reading an article on the BBC earlier. It speculated about what the ECB might do in the case that Greece defaulted.

It said that the ECB could just print more Euros to the tune of what the Greeks owe.

That more than anything else underlined to me that our currency is not based on anything at all. It's not based on gold, or anything concrete. Its value is entirely made up.

Say if Greece owes the EU 150 billion, then defaults. The ECB prints 150 billion new Euros. In that case, what the hell has just happened?

Why are they worried about Greece repaying, if the ECB will just make new money if it doesn't?

Honestly, my head hurts.
Click to expand...

Inflation, effectively European savers would pay as their savings would be devalued.
 
The only way Greece is going to get out of this is to grow, but their economy is so structurally broken I don't see how that's possible. The whole thing is a bureaucratic mess and they don't even have a land registry.
 
The euro is already down to 1.43 with the Asian markets opening. Looks like it is going to be battered for a few days.
 
What's the point in the referendum if they're potentially going to default on Tuesday anyway? Bit late to decide to have a referendum.

Also what exactly is the deal that the Greek people are voting on? No deal has been finalised.
 
FoxEye said:
Was reading an article on the BBC earlier. It speculated about what the ECB might do in the case that Greece defaulted.

It said that the ECB could just print more Euros to the tune of what the Greeks owe.

That more than anything else underlined to me that our currency is not based on anything at all. It's not based on gold, or anything concrete. Its value is entirely made up.

Say if Greece owes the EU 150 billion, then defaults. The ECB prints 150 billion new Euros. In that case, what the hell has just happened?

Why are they worried about Greece repaying, if the ECB will just make new money if it doesn't?

Honestly, my head hurts.
Click to expand...

This is what they done in Zimbabwe and the Weimar Republic. Both resulted in currencies which were effectively worthless.
 
Stretch said:
This is what they done in Zimbabwe and the Weimar Republic. Both resulted in currencies which were effectively worthless.
Click to expand...

We, the US and others have just had 5 years of 'printing' vast quantities of money (QE) and there has been no hint of hyper inflation, in fact the UK recently had a quarter of deflation.
 
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