What about Greek default consequences? This means the end of capitalism as we knew it??
Not the end of capitalism but the end of Greece as we know it. If the default is managed it won't be so bad for the rest of Europe or indeed Greece. However, if the default is not managed the Greek banks would go under and the government wouldn't be able to pay anything. If then Greece reverted to the drachma the consequences for Greece for at least 6 months would be indeed dire.
The Greeks will default. The european banks and the French and Germans I believe have been playing a managing game so that when it does come it will lessen the blow to the euro.
When the greeks have returned to the drachma with not as much financal assistance, this enable France and Germany to asist Italy and keep the euro in place.
by Dave McClure 6 years ago
Greek Prime Minister George Papandreou has decided that the Greek people should be asked whether or not to accept the rescue package negotiated by the Eurozone leaders. The 'rescue' package, of course, came with strings attached: further austerity measures for a people already suffering. And...
by sannyasinman 8 years ago
Apparently, all of the billions of Euros just transferred to Greece to ease its "crisis" will go directly to the banksters to cover outstanding interest payments, and will do nothing whatsoever for the country or its people. The situation is clearly unsustainable, and there are other...
by CMHypno 6 years ago
With anti-German feeling already high on the streets of Greece, is there trouble ahead? Should Greece cut free of the EU, return to the drachma, devalue and become more competitive? Is this 'one size fits all' economic policy based on what works for Germany even possible for all the...
by quicksand 3 years ago
About The Greek Debt Crisis - What Are The Causes Of This Financial Debacle? Is There A Solution?How did the Greek government-debt crisis happen? Had there been no indication of the issue getting blown to gigantic proportions? Could this "Greek Depression" not have been nipped in the bud?...
by Dave McClure 8 years ago
The International Monetary Fund (IMF) has come to the rescue of Greece. Really? The IMF 'gives' Greece bail-out money (at interest, and with strings attached). The bail-out goes to the Financial Institutions. So they're all right, Jack. The IMF insists on Austerity Measures. The Government inflicts...
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