so .... greece, the euro

[Goodie]

That is epically expensive to produce...

If oil prices go down by much it may not be economical to produce it and that would cause some problems for them.

Australia is also faring pretty well at the moment however they are basically dependent on the Chinese, who are potentially going to burst soon as well, especially if one of their main markets goes pop.

Have you got any information on why the Chinese bubble will potentially burst soon? Genuinely interested as I haven't really heard anything about that happening before?

 

[Goodie]

They have well documented potential problems with property prices potentially being an EPIC bubble. Then there's this. As well as the fact that if one of the regions they export to dies, they'll be exporting less (so if the Europe completely imploded, less money would be going to China).

Thank's for that Moses, I'll go and have a read of that link

 

[chameleon]

What gets me is, have the Greeks actually weighed up the consequences of the anti austerity measures? Sure the prospect of going bust is a far worse scenario? Maybe they won't have the debt burden but they won't have any money either. Cue even more austerity when that kicks in.
Also, wouldn't the euro be better off without the massive millstone of Greek debt around its neck? It can't be a good idea to keep pouring billions into the bottomless Greek hole with no chance of getting it back?

 

[The Halk]

Also, wouldn't the euro be better off without the massive millstone of Greek debt around its neck? It can't be a good idea to keep pouring billions into the bottomless Greek hole with no chance of getting it back?

The belief at the moment is the money will be repaid, or at least some of it will.

If austerity in Greece works then Germany get their money back. If it doesn't then banks across the EU may need a bail out, and the other PIIGS get a big hike in lending costs.. pushing them closer to the edge of a default. That would be a cataclysm.