Economy Should Greece Leave the Euro?

[moskiter]

Every currency has weeker and better periods, Euro too. Nonetheless EU should be more thoughtful and secure herself from such lawlessness as it took place in Greece. I am also a follower of an idea of obliging UK, Denmark and Sweden to introduce Euro as well.

 

[Mako]

No, but it might be kicked out from the Eurozone.

Not all members of the EU are part of the Eurozone. The UK is a major player in the EU, but does not use the Euro as its currency. Greece may be forced to leave the Eurozone if things get worse.

 

[LeBrok]

The best option for Greece might be to go bankrupt. Wipe out the debt, rebuild and reform economy without crippling interest payments. Surely they would be kicked out of Euro, but it wouldn't be a big price to pay in their situation. In 10-20 years if everything works fine they wouldn't have problem joining Euro again, if they wanted.

 

[Richard Coyle]

...... At this point of time, the European Parliament has too much over the parliaments of its member nations. ........... makes it easy for drug traffickers to distribute their goods throughout ....... The EU has gone too far.

I don't know if your right here about the EU, but what you write exactly describes the relationship of our own over government in Washington aka "USA", with the member states of our own union. Substitute "USA" for "EU" and you describe the situation here in the USA precisely. In fact, one could even draw an analogy between Greece and California. So should we kick California out of the union. I think not!!!

 

[chris eblana]

Maybe there should be consequences for cooking accounting books and keeping country in financial mess. That's a serious breach of trust and confidence for the whole EU. Kicking out a member for mentioned sins should be an option.
The worse part is that most of Greeks don't understand seriousness of their county's financial situation and protest against any sacrifices. At least this is what I'm getting from watching BBC news about Greece.
I like the country, I like the people, but I'm for some discipline, and I hate any kind of mess.

the mess is what the western media portray about what is happening in Greece..if they told you exactly what is going on in the country, you would protest too, because it could be you next on the same agenda....

recently Mr Juncker said that european powers knew the misuse by Greece of european funds, but they let the country go bust..according to them greek economy will be transformed after it recovers from the crisis...he also implied that the germans and the french encouraged the procedure...so all is not what it seems...

the bottom line is, people are suffering, while the bankers and the corrupt elite always get away with it, and not just in greece, but all over europe...most of you have accepted the situation...we did fight it, although with no results...nothing can be done...why should the people bail out the mistakes of the bankers and the rich?

we will not be kicked out of the euro, europeans do not want that...in fact Estonia is going to join the eurozone in 2011..that is the answer to all the speculations for the collapse of the euro.....

 

[LeBrok]

Doesn't matte who you want to blame now, or who's fault it really was. The only question is what you're going to do now, and what your options are.
What these public protests are going to achieve now? There is no more money, and on top of it huge interest payments for past excesses.
What do you think Greek government should do to keep populous quiet? Or should they care? What would you do to fix the problem?
Print more money?
Increase taxes for rich?
Make a miracle?

I would guess that now it's time to stand united for Greeks and pull it out from the hole. Some nationalistic sentiment, I'm feeling here, should help the process.

 

[chris eblana]

Doesn't matte who you want to blame now, or who's fault it really was. The only question is what you're going to do now, and what your options are.
What these public protests are going to achieve now? There is no more money, and on top of it huge interest payments for past excesses.
What do you think Greek government should do to keep populous quiet? Or should they care? What would you do to fix the problem?
Print more money?
Increase taxes for rich?
Make a miracle?

I would guess that now it's time to stand united for Greeks and pull it out from the hole. Some nationalistic sentiment, I'm feeling here, should help the process.

united europeans.....aye...!! a nice dream but in reality...??
tax the rich deffinately....the people can not carry all the weight of the payments of the loans...
the populous can't stay quiet..they are right to be angry...in iceland their prime minister is facing the court for all the mismanagements..why not in greece too? (and ireland,and spain,and italy,and protugal and and and...)...

 

[LeBrok]

There is obviously something very wrong with our political systems. We should have smarter people at the helm of the countries to understand how economy works and not to do stupid moves that puts all the nations in dismal situation.
Unfortunately taxing rich is not much of the option to get out off the big debt. There are not enough rich around, or corporations to pay for the huge debts. If you tax them too much they simply leave, leaving the country in bigger recession.
At the end populous has to face the harsh reality and pay for the debt. Even though if I don't like this option, that's reality.
That's why I would be voting, if I'm Greek, for bankruptcy, reforms and fresh start. The reforms need to be smart enough to encourage business to invest, make good jobs, and make sure there is no overspending in the future.
Is this feasible? Possibly under some kind of dictatorship if ordinary folks won't cooperate?
What am I talking about? lol

The question that I'm asking myself more often, looking for solution too, is why don't we have smartest and most honest people of us all running our countries?
Obviously we don't have right democratic system to select them and reward them for good work. We have to reinvent democracy so we can find people like that to lead us.......to the bright future. How difficult is that?

 

[chris eblana]

There is obviously something very wrong with our political systems. We should have smarter people at the helm of the countries to understand how economy works and not to do stupid moves that puts all the nations in dismal situation.
Unfortunately taxing rich is not much of the option to get out off the big debt. There are not enough rich around, or corporations to pay for the huge debts. If you tax them too much they simply leave, leaving the country in bigger recession.
At the end populous has to face the harsh reality and pay for the debt. Even though if I don't like this option, that's reality.
That's why I would be voting, if I'm Greek, for bankruptcy, reforms and fresh start. The reforms need to be smart enough to encourage business to invest, make good jobs, and make sure there is no overspending in the future.
Is this feasible? Possibly under some kind of dictatorship if ordinary folks won't cooperate?
What am I talking about? lol

The question that I'm asking myself more often, looking for solution too, is why don't we have smartest and most honest people of us all running our countries?
Obviously we don't have right democratic system to select them and reward them for good work. We have to reinvent democracy so we can find people like that to lead us.......to the bright future. How difficult is that?

i agree with you in most things, but why is it the poorest and the ordinary people who must suffer..?? in a post above someone mentioned that the Greeks lived beyond their means...what..?? Greece was one of the most expensive countries in the eurozone, but the salaries of the people were not near as those of ireland, norway, sweden, luxembourg the UK or germany....now they are bringing all the prices even higher, but the wages of the people even lower...how are the people going to survive..??

there is no democracy in the world...some people and nations are forced to be poor, in order others to be very rich....there is no equality, nor fairness....we think we are governed by a democratic system, but in fact we have an oligarchy, established after the WW2...The new world order as they call it...we need to unite first in europe and then the world to get rid off this elite that governs us, unfairly .........

 

[Garrick]

I think the EU should simply collapse. I'm tired of the loss of soverignty that comes with a having a European parliament. I'm tired of one nation having to bail out another nation. The EU is the modern-day USSR.

Atzerrian
There will be no collapse of Europe, on the contrary I think that in years to come, Europe will become stronger.

 

[Regulus]

I don't know if your right here about the EU, but what you write exactly describes the relationship of our own over government in Washington aka "USA", with the member states of our own union. Substitute "USA" for "EU" and you describe the situation here in the USA precisely. In fact, one could even draw an analogy between Greece and California. So should we kick California out of the union. I think not!!!

Interesting and quite possibly true.
The system here also makes it difficult for businesses that are not mega-corporations to continue to be profitable. In time, we could see an all-powerful centralized government in an alliance with an effective oligarchy of the biggest corporations.

The trend towards over-regulation seems to be the greatest tool of the big companies. They can find ways to defray and pass on to the consumers the costs associated with it but the middle and small businesses cannot. The government appears to be willing to take on such an enormous amount of debt that an indentured servitude of sorts can be a foregone conclusion for the taxpayer.

 

[Reinaert]

Don't listen to non Europeans lads.
We'll easily can cope with our own business.

We don't need Americans for that!
They are just stirring the soup here, while they have a bankrupt economy themselves.
What a lousy losers they are!

It's the Monroe doctrine the other way around.
Europe for the Europeans.

Let Americans mind their own business.
AND NOT OURS!

 

[LeBrok]

Reinaert, nobody likes you here and all will be happy if you leave Europe and this forum. Nobody likes your rude and insulting character. Go back to your cave, this is where you belong anyway.
And yes, I'm European with European passport.

 

[Regulus]

Don't listen to non Europeans lads.
We'll easily can cope with our own business.

We don't need Americans for that!
They are just stirring the soup here, while they have a bankrupt economy themselves.
What a lousy losers they are!

It's the Monroe doctrine the other way around.
Europe for the Europeans.

Let Americans mind their own business.
AND NOT OURS!

I guess that my question would be "What did I do wrong this time?"

I get in trouble with Reinaert if I defend anything about the US. In my last post here, I am clearly against what is happening in the US and to Reinaert I am still wrong.

 

[Reinaert]

Two trolls performing their slapstick again.
You both work for the CIA, or some funny farm?

BTW LeBrok, there is no such thing as a European passport...

 

[Regulus]

Two trolls performing their slapstick again.
You both work for the CIA, or some funny farm?

BTW LeBrok, there is no such thing as a European passport...

This guy is like the psychotic ex-girlfriend who stalks you everywhere you go.

 

[Reinaert]

This guy is like the psychotic ex-girlfriend who stalks you everywhere you go.

Cheap Regulus.. Very cheap...:useless:

 

[Regulus]

Maybe so, perhaps you could provide an alternative comparison for me to use.

 

[LeBrok]

Oh, you're demanding creativity and logic from him?! You're are going to exhaust and kill the poor, pitiful Reinaert.

 

[edao]

Currency Flight

Greece leaving the Euro would be unlikely as the new Greek currency would depreciate rapidly in relation to the Euro devastating the financial system only making their situation worse. If you had a Euros in Greece you'd quickly move your money, the resulting currency flight would cripple Greece.

Only way a break up of the Euro would work is for Germany or France to leave the Euro as their new currency would rise in value agaisnt the Euro.