Greece is the word!

[Unknown_Genius]

I would take some of their lovely islands.

 

[brand blue heavies]

There are many reasons why Greece going back to the Drachma is bad. Mainly as it would be like going back to the middle ages for the whole country for quite some time

They are already worse off than that mate. 20% unemployment,48% youth unemployment,poverty like never before. How is a bail out by the EU countries gonna solve that when the people lending the money dont trust the greeks with it. Its dodgy accounting that got the greeks into this mess in the first place. Going back to the Drachma wont solve anything short term but the holiday rate would be fantastic and i`m sure you`d see tourism rocket!!

Basic economics says everything you say is wrong. With a currency that is less than worthless how do you think they will import anything. They have hardly anything to export anyway but even what they do export would be sold for peanuts due to the weakness of the currency. Tourism would nosedive as there would be nothing open to go to

I disagree. In a different country perhaps but the greeks have lived cash in hand and dodgy deals for most of there existence. Hardly any tax is paid and the countries downfall has been to adopt a more european way of living when in fact they were just about managing as they were pre -euro. They would survive.

 

[BoyBlue_1985]

They were in trouble when they joined the euro it was one of the reasons they joined

 

[Dirty Harry]

The country is well and truly on its arse, as BBH mentions, corrupt as f*ck politicians and government, a refusal to chase up rich tax evaders 9that's been going on for decades), and of interesting note, in a country of 12 million, only 5,000 people admit to earning 100,000 euros or more a year, they've well and truly sold the citizens down the river.

Something that was pointed out to me by a lad I know from Athens on another board was that Greece were still owed money from Germany as a result of WW2, but the politicians agreed that this will not be taken into account for any money they get from Germany in this deal, apparently they've actually managed to pay the actual 'debt' off, it's the interest involved that's killing them.

Tourism, he says, is doing ok still btw, but it's looking pretty bad.

 

[AlgarveBlu]

I see the same path being followed here in Portugal at the moment, so many people (expats) have already left back to the UK and Holland or the Portuguese themselves going off to Brazil and the old colonies in Africa for good money in construction work..

Interesting that Portugal has followed the Troika requirements to the letter unlike the Greeks but this isn't going to stop them needing another bailout next year...I think the only difference is that Germany won't want to see it's poster child go down whereas they are starting to cut Greece adrift as we speak.

 

[kronkonite]

Germany should give us their car manufacturing industry

and you're holidays should be taken elsewhere you robbing twats

 

[Ducado]

It will be about the 7th time in their History they have defaulted if they do, they survived it before they will survive it again, with a lot less horror than people seem to think

 

[Blue Hefner]

A bit off topic but I was in Athens for the weekend last weekend. Its a brilliant place, people are great and I would definitely recommend it to anyone looking for a trip away. Only bad point was that we flew with EasyJet but that is another thread altogether

 

[pauldominic]

I'd hope that we in the Uk would go and enjoy Greece and talk / encourage them.

It's nasty whats happening at the moment.<br /><br />-- Wed Feb 15, 2012 11:21 pm --<br /><br />

It will be about the 7th time in their History they have defaulted if they do, they survived it before they will survive it again, with a lot less horror than people seem to think

Evidence?

 

[metalblue]

They are already worse off than that mate. 20% unemployment,48% youth unemployment,poverty like never before. How is a bail out by the EU countries gonna solve that when the people lending the money dont trust the greeks with it. Its dodgy accounting that got the greeks into this mess in the first place. Going back to the Drachma wont solve anything short term but the holiday rate would be fantastic and i`m sure you`d see tourism rocket!!

Basic economics says everything you say is wrong. With a currency that is less than worthless how do you think they will import anything. They have hardly anything to export anyway but even what they do export would be sold for peanuts due to the weakness of the currency. Tourism would nosedive as there would be nothing open to go to

I disagree. In a different country perhaps but the greeks have lived cash in hand and dodgy deals for most of there existence. Hardly any tax is paid and the countries downfall has been to adopt a more european way of living when in fact they were just about managing as they were pre -euro. They would survive.

The Greeks will be fucked if they leave the euro.  They have failed to implement the promised austerity measures and the Greeks are rioting because of proposals!!! Leaving the euro will make the austerity measures end quicker but they will be a magnitude more severe without the eurozone propping them up and making the pain less aggressive than it should be.

The country is well and truly on its arse, as BBH mentions, corrupt as f*ck politicians and government, a refusal to chase up rich tax evaders 9that's been going on for decades), and of interesting note, in a country of 12 million, only 5,000 people admit to earning 100,000 euros or more a year, they've well and truly sold the citizens down the river.

Something that was pointed out to me by a lad I know from Athens on another board was that Greece were still owed money from Germany as a result of WW2, but the politicians agreed that this will not be taken into account for any money they get from Germany in this deal, apparently they've actually managed to pay the actual 'debt' off, it's the interest involved that's killing them.

Tourism, he says, is doing ok still btw, but it's looking pretty bad.

He is talking rubbish I am afraid mate about repaying debt.  Greece borrowed more and more to help make repayments of existing debt (caused by massive increases in public sector pay and employment as well as seriously generous pensions without any attempt to tax people) - "they" haven't repaid anything they may have borrowed money to repay principles at maturity and help pay the coupon rate but any fool can do that.

I see the same path being followed here in Portugal at the moment, so many people (expats) have already left back to the UK and Holland or the Portuguese themselves going off to Brazil and the old colonies in Africa for good money in construction work..

Interesting that Portugal has followed the Troika requirements to the letter unlike the Greeks but this isn't going to stop them needing another bailout next year...I think the only difference is that Germany won't want to see it's poster child go down whereas they are starting to cut Greece adrift as we speak.

Exactly Algarve, they need to do what everyone else who has needed assistance is doing and that is live within there means not by making empty promises but my carrying out those promises.

I'd hope that we in the Uk would go and enjoy Greece and talk / encourage  them. 

It's nasty whats happening at the moment.

The Greeks have been encouraged enough, it is simple fill your previous promises and the EU will stand by you - I have no sympathy with them whilst they continue to play games.

It will be about the 7th time in their History they have defaulted if they do, they survived it before they will survive it again, with a lot less horror than people seem to think

Evidence?

Modern defaults in 1826, 1843, 1860, 1894, and 1932.  They also had a default in 400BC.  This will be the 7th recorded if it happens.

@Ducado, it will be a lot more of a horror than the Greeks think.

Everyone is to blame for this mess but only the Greeks can truly resolve it, the only thing they need to decide is if they want to do it with our help or without it.