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That's just throwing good money after bad. The Greek economy has to be completely built up from scratch. Greece should default in an orderly way and leave the Euro (perhaps even the EU, but not the EEA).
It's hard to really offer a rebuttal, when there is literally no such thing.
There is such a thing. But I understand you believe that it is better to decide that from now on all Eurozone agreements, and the Euro itself, basically are not worth the paper they are written on and that this would be "orderly". I beg to differ.
Link to where I suggested such?
I'll be waiting. Meanwhile, maybe you can offer citation proof of where an "orderly default" has happened.
Historically speaking sovereign defaults are not that rare.
Russia defaulted in the 90s and came out quite OK.
link to historical data on stock market, currency ,jobs, and international lender evaluations around that time.
Or, did you leave those out for a reason?
I already figured you really didn't know what you were talking about.
Actually, Russia was less of an economic basket case then than Greece is now.
And yet, you can't link to sources to prove your point...
And yet, you can't link to sources to prove your point...
Ok. The other side of the coin would be that the IMF and ECB didn't assess the level of structural changes necessary to pay back the debts but would now find that difficult to admit. If so, Greece could exploit that mistake a little more than they are entitled to, in the light of domestic pressures.
If that is so, then more fool the eurozone countries and the EU institutions. Greece is the worst casualty of the eurozone but Italy and Spain are suffering too. Something has to give sooner or later.Exploitation is how Greece got itself into this mess in the first place.
Initially they exploited the EU by gaining entry under false pretenses and then their creditors.
Who wound up holding untold amounts of worthless Greek debt
Well, they really have no one to blame but themselves for all of this.
To add insult to injury they elected some Socialist clown who's first order of Bussiness was to gin up some German war crime narrative.
It was Greece's attempt to scam their way out of paying their creditors and it was a exceptionally low life thing to do.
Great. Switzerland and Greece. I think Greece will default. There have been huge withdrawls from the Greek banks, hundreds of billions, and that would indicate the the gerneral citizenry expects a default and are getting Euros while they can. I personally believe that default is Greece's best option. Banks are running Nations in our age and in the recent past, when Citizens suggested banks ran the World, it was immediately denied as Conspiracy Theory. Now that it is obvious that certain banks are running the Western World, where are our Conspiracy Theory realists? Also, where are the deniers? Should banks run our World?
Not only will Greece default, but so will those cities under Democratic rule with high union pension-related liabilities and high welfare outlays. They're unsustainable.
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