|
News: GrExit: "Greece in Auschwitz"
Member Since: 1/4/2014
Posts: 8,187
|
Quote:
Originally posted by Dilettante
The people generally just think it'd be easier for them to impose austerity; the point now is that the German people are getting frustrated, but Merkel is thinking about her legacy, and doesn't want to be seen as the Chancellor who oversaw the beginning of the end of the EU, which would possibly happen, if things are kept unchecked.
I hope Portugal/Spain are preparing, if Greece default or leave then the speculation will be on who is next.
|
Why?
Is it better to be in the EU or outside of it?
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Quote:
Originally posted by Golden
Won't the collapse of Greece only cause for more problems though? Won't there be a huge chaos there and won't people try to flee to other European countries? As if the EU doesn't have enough immigration problems as it is..
|
I doubt they'd immediately start fleeing, in all likelihood we'd end up with a situation like Argentina in Greece, things would go on but they'd have problems getting international backing. It'd be hard, but they'd live.
The bigger problem would be if the uncertainty spread across the global markets.
|
|
|
Member Since: 8/1/2012
Posts: 25,037
|
Quote:
Originally posted by TheLuckyOnes
Why?
Is it better to be in the EU or outside of it?
|
Portugal/ Spain and Italy are the weaker sistren of the EU
If Greece collapses they're probably next
|
|
|
Member Since: 1/4/2014
Posts: 8,187
|
Quote:
Originally posted by RomanNavy
Portugal/ Spain and Italy are the weaker sistren of the EU
If Greece collapses they're probably next
|
So would it be best if they leave the EU and try to repair their economy before it collapse?
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Quote:
Originally posted by TheLuckyOnes
Why?
Is it better to be in the EU or outside of it?
|
Portugal and Spain are the weakest countries in the link, so to speak, Portugal especially. If investors see that Greece can leave, they'll worry that Portugal will too, and not invest in them, which could spread across the continent.
It depends on the country and situation, but most politicians see the EU positively. The Eurozone is a different matter.
|
|
|
Member Since: 6/3/2011
Posts: 14,194
|
Spain or Italy are too big to collapse. If they fall so will the euro...
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Either way, we now have to see what the ECB do, as soon as they stop their loans to the Greek banks the banking sector will completely collapse, and then a referendum would be pointless. If the finance ministers refused a debt extension, I wouldn't be shocked if the ECB withdraw their support now.
|
|
|
Member Since: 1/1/2014
Posts: 7,705
|
I think that in a long run Greece is the only one loosing this game... EU survived '08 and will I am damn sure survive this thing too... Greeks economy is the size of economy of the city Milan in Italy... so yeah...
On the other hand we have Ireland, they were in simillar situation, and after some hard choices they now have the biggest economy growth in EU... Grace take notes!
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Greece are now 5/6 to stay in the Eurozone and 10/11 to exit it. It was 3/1 earlier. Not looking good.
|
|
|
Member Since: 3/10/2011
Posts: 47
|
Quote:
Originally posted by Golden
Won't the collapse of Greece only cause for more problems though? Won't there be a huge chaos there and won't people try to flee to other European countries? As if the EU doesn't have enough immigration problems as it is..
|
Yeah,because syrian/pakistani immigrants are exactly the same thing as greek immigrants.FYI,greeks are the most sought-after immigrants because of their high level of education.Did you know that 3% of world scientists are greek,compared to 0.015% of the greek population/world population?
|
|
|
Member Since: 1/1/2014
Posts: 8,420
|
Quote:
Originally posted by Cz!
Spain or Italy are too big to collapse. If they fall so will the euro...
|
They have came close to it in the past and, sure, the Eurozone was plunged into crisis but it would likely have survived (albeit would have been seriously weakened). The big powers in the Eurozone are France and Germany - and it is the state of the economies of these two countries that would determine if the Eurozone collapsed.
|
|
|
Member Since: 1/1/2014
Posts: 16,371
|
Quote:
Originally posted by LadyDiana
I think that in a long run Greece is the only one loosing this game... EU survived '08 and will I am damn sure survive this thing too... Greeks economy is the size of economy of the city Milan in Italy... so yeah...
On the other hand we have Ireland, they were in simillar situation, and after some hard choices they now have the biggest economy growth in EU... Grace take notes!
|
Those U2 touring receipts keeping the best country in Europe trucking along
(although Ireland's situation never reached Greece's level, since there was always enough capital from the IMF/EU loans to cover all its debts and secure its bank deposits so there was never really a danger of Ireland collapsing. It also doesn't hurt that Ireland's main two partners economically are the UK and the US, both of which showed huge confidence in the market throughout the crash)
|
|
|
Member Since: 1/1/2014
Posts: 7,705
|
Quote:
Originally posted by Dilettante
Greece are now 5/6 to stay in the Eurozone and 10/11 to exit it. It was 3/1 earlier. Not looking good.
|
collect them coins before the colaps cuz that new drahma ain't gonna worth nothing... thank God I didn't book my holiday in greece
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Quote:
Originally posted by MillionLights
They have came close to it in the past and, sure, the Eurozone was plunged into crisis but it would likely have survived (albeit would have been seriously weakened). The big powers in the Eurozone are France and Germany - and it is the state of the economies of these two countries that would determine if the Eurozone collapsed.
|
Brexit could do it, potentially, if it was done in an extremely messy manner.
Luckily for y'all, our politicians aren't incompetent enough to let us get to that point, David Cameron isn't going to let us leave, and the media are doing everything in their power to keep us in. Y'all are safe.
|
|
|
Member Since: 1/1/2014
Posts: 16,371
|
Quote:
Originally posted by MillionLights
They have came close to it in the past and, sure, the Eurozone was plunged into crisis but it would likely have survived (albeit would have been seriously weakened). The big powers in the Eurozone are France and Germany - and it is the state of the economies of these two countries that would determine if the Eurozone collapsed.
|
If there was a sequential collapse/exit of Greece, then Spain, then Portugal and/or Italy, the eurozone would falter entirely. Germany, France, Ireland, Belgium and other stronger nations would collectively either exit into a new single currency or return to independent ones. Germany (and France) won't let that happen.
|
|
|
Member Since: 1/1/2014
Posts: 8,420
|
Quote:
Originally posted by Dilettante
Brexit could do it, potentially, if it was done in an extremely messy manner.
Luckily for y'all, our politicians aren't that incompetent to get to that point, David Cameron isn't going to let us leave, and the media are doing everything in their power to keep us in. Y'all are safe.
|
We shouldn't confuse the Eurozone and the EU though.
|
|
|
Member Since: 1/1/2014
Posts: 7,705
|
Quote:
Originally posted by Rusty
Those U2 touring receipts keeping the best country in Europe trucking along
(although Ireland's situation never reached Greece's level, since there was always enough capital from the IMF/EU loans to cover all its debts and secure its bank deposits so there was never really a danger of Ireland collapsing. It also doesn't hurt that Ireland's main two partners economically are the UK and the US, both of which showed huge confidence in the market throughout the crash)
|
true Ireland was never near Greece's situation, but only thanks to the good politicians and economists...
on the other hand in Greece we have some guys who's only concearn is how to win next elections... well good luck with that one
|
|
|
Member Since: 8/19/2013
Posts: 39,572
|
Quote:
Originally posted by MillionLights
We shouldn't confuse the Eurozone and the EU though.
|
So I may have messed that up, but I still think we have to power to completely **** up the EU, if we so wished.
|
|
|
Member Since: 1/1/2014
Posts: 8,420
|
Quote:
Originally posted by Rusty
If there was a sequential collapse/exit of Greece, then Spain, then Portugal and/or Italy, the eurozone would falter entirely. Germany, France, Ireland, Belgium and other stronger nations would collectively either exit into a new single currency or return to independent ones. Germany (and France) won't let that happen.
|
I agree with you on that. I interpreted the quote as being if either Spain or Italy collapsed, not Spain and Italy.
I disagree with you however in calling Ireland a stronger nation within the Eurozone.
|
|
|
Member Since: 3/10/2011
Posts: 47
|
Quote:
Originally posted by LadyDiana
Greece is well known ever since the WW II that they are uncapable of saving money and spending more then what they have... like even back in the 80s there were jokes about greeks debt... oh well, hope euro wont collapse after this, but I doubt it, euro is strong as ha baby mama germany so...
|
Really?Because during the 50s Greece was 2nd only to Japan in GDP growth with almost zero debt.Until 2005 the debt was less that 100% of the GDP,so no problem with that,too.Did you know that German companies(Siemens,etc) are behind the biggest political scandals in Greece with billions of euros lost,yet,Germany refuses to give to Greek authorities the Greeks responsible for those scandals,as they have found refuge in Germany?
|
|
|
|
|