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Greece at The Edge of The Abyss.

JohnChisum
in Off-Topic
This long running saga took a turn for the worse as Germany has rejected Greece's idea for a loan extension.

Just let them go out of the Euro.

http://www.cnbc.com/id/102437421

Comments

  • scott
    edited February 2015
    Maybe I'll have to take a flyer on Dolphin (DOLHF.pk) again, which holds a lot of very pretty real estate in Greece and is about 40 cents.

    http://www.dolphinci.com/#home
  • JohnChisum
    Greece has suggested that they might go back to the drachma. I'm not sure that will change anything. Spending money hand over fist is what has to change.
  • scott
    JohnChisum said:

    Greece has suggested that they might go back to the drachma. I'm not sure that will change anything. Spending money hand over fist is what has to change.

    Yeah, but that's no fun and isn't popular with politicians who love spending and the economists who tell them that more is better.

  • TedTed
    @MFO Members: "Edge Of The Abyss", that's nonsense the two sides are in the middle of negotiations. Both sides will give a little, the debt issue will be resolved, and Greece will remain in the EU. Now can we move on to something important, when in the hell is it going to warm up. -5 in Chicagoland.
    Regards,
    Ted
  • JohnChisum
    It's not going to warm up anytime soon. Sorry Ted.

    Germany should just take over Greece.
  • LLJB
    Actually going back to the drachma might help Greece. They would default on their debts and transfer all those problems to the rest of Europe, but mostly the Germans!, and the IMF among others. The drachma would depreciate significantly and tourism, which Greece has always been dependent on, would increase dramatically. They would find it difficult to borrow money for a while but if the economy was growing again there will always be creditors willing to take the risk.

    BTW, I think China may end up buying Greece's most important port facility. Or they could sell Crete to the Russians and give them a reason to invade Romania. Bulgaria and Turkey, where there must be at least a few Russian speakers, in order to create a land bridge to their new Mediterranean military base!
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