So...12 million greeks suffer (i mean life altering)....or a couple banks go under and "suffer" with their EU/Fed bailouts and huge year end bonuses.
Cmon greece...i believe you will do the right thing and tell the banks to F themselves.
tooth, That depends on your tolerance for beer! I think you are correct on their eventual fall. I am not sure by then the world won't just get used to the crap, and the market have it priced in. I've haven't really expected much out of Europe or the US anyways, as far as CAT goes. Everything I see for the future is just more demand for food and energy for ever, sure they're will be hurdles, and we will have to live with the decisions of the people who got us here, which will not be easy, but nobdy starves without somebody getting fat.
to avoid CDS triggers. That would just be like a 100:1 shock to the system as it is now.
They can go back to the drachma or keep rolling over debt. Either way, its a failure. The world knows it is....i have a feeling the "fun" this bailout brings....doesnt last as long as the last one. Like when you drink that 10th beer of the night...its not that fun anymore...its just sickening.
i see a lose-lose on this vote.
Passes...Euro rallies for a while until greece fails to pay back anyway. Allows others to see they can refi unlimited as well....euro fails.
Doesnt pass....Euro falls. Others see they can basically default, euro fails.
Anyone see something i dont? Euro is doomed. You cant ask a homeless man to pay for your tuition to college...you cant go to the soup kitchen to borrow money from someone to buy a cadillac....when people have no money, they are broke. done...over.
I got an acquaintance in Greece from US who has great job, with large corp, and I understand they now owe him 35% of his salary for last 2 years. I believe you are correct, how can you cut a person's wages and increase their tax burden and health care all at the same time and create any growth. I might be totally wrong, but I say reconstruct their pay scales and benefits, and then just simply pay their debt off for them. If they don't like it, fine let them starve.