Greece may exit the Euro ?

[counter_violent]

That' now is very funny because everyone can clearly see how well monetarists control the money supply, inflation and the level of economic activity.

Yes very effective indeed.


I can see what they mean by the elasticity of the Ms is more responsive to interest rates than fiscal policy! Which is why after billions and trillions of QE and negative interest rates we have deflation. Da da da da daaaaa! (PS. I got this one wrong too )


G8 stuff CV. Yoda man.


Addenda: So what's this geezer talkin about then???
http://www.bbc.co.uk/news/business-31030425

Well it's obvious innit....he's caught up in the "economic game" that everyone seems to be forced to play. Still doesn't make any of it right whichever way you dice it. I bet if he wasn't in front of the watching eye, he would probably express a completely different P O V

 

[Atilla]

Well it's obvious innit....he's caught up in the "economic game" that everyone seems to be forced to play. Still doesn't make any of it right whichever way you dice it. I bet if he wasn't in front of the watching eye, he would probably express a completely different P O V

You a politician or wat? Certainly not an economist...


No two ways about it.

There is a supply side and demand side. Like you and your two legs.

One needs monetary and fiscal policy to effectively manage.

Otherwise one is limping.


I thought Carney, whilst timing a little off was making a valid point. Perhaps timing is perfect who are we to say otherwise. UK would like this issue settled as it is likely to impact more than EU countries.

Let's not forget the low euro is pretty good for zee German ekonomi no?


You capiche?

 

[counter_violent]

You a politician or wat? Certainly not an economist...


No two ways about it.

There is a supply side and demand side. Like you and your two legs.

One needs monetary and fiscal policy to effectively manage.

Otherwise one is limping.


I thought Carney, whilst timing a little off was making a valid point. Perhaps timing is perfect who are we to say otherwise. UK would like this issue settled as it is likely to impact more than EU countries.

Let's not forget the low euro is pretty good for zee German ekonomi no?


You capiche?

Of course he wants Europe to spend a pile of money they don't have.....it's not his money is it, why would he care! His only interest is keeping the recovery going in the UK.

The problem with it though is eternal spending without ever paying down any debt. Do you hear of ANY socialist politicians EVER talk about paying down debt ?

 

[Atilla]

Of course he wants Europe to spend a pile of money they don't have.....it's not his money is it, why would he care! His only interest is keeping the recovery going in the UK.

The problem with it though is eternal spending without ever paying down any debt. Do you hear of ANY socialist politicians EVER talk about paying down debt ?

Yes, Mrs Merkel and Bill Clinton and Barrack Obama.

Do you know how much debt your Republican freedom liberty loving capitalist friends Bush Snr & Jnr cranked up killing people at the same time?

 

[counter_violent]

Yes, Mrs Merkel and Bill Clinton and Barrack Obama.

Do you know how much debt your Republican freedom liberty loving capitalist friends Bush Snr & Jnr cranked up killing people at the same time?

Trillions I have no doubt and all they managed to do was de-stabilise an already fractious region.

Anyway, they didn't do it in my name, so that's alright then !

 

[Atilla]

Trillions I have no doubt and all they managed to do was de-stabilise an already fractious region.

Anyway, they didn't do it in my name, so that's alright then !

Well Bush Jnr on my last count had 4+ trillion to his name alone after Clinton did much to grow the economy and pay back Bush Snr's debt.

Either way point here is there are many pure monetarists who make much capital out of the money supply inflation and fiat money at the destruction of people.

Moreover, reluctant to pay tax increasingly we are seeing a polarisation of the wealthy 1% and poor 99%.

So all this talk about lazy bones and good for nothings don't really tally up with what's happening.

Money needs to change hands to fulfill it's purpose. When it sits in the hands of filthy rich tight dasdidos it serves no purpose but to make the rich snots look down the noses at the poor dasdidos. :cheesy:


fwiw - I thought Carney put it quite well really and what he said makes perfect sense.

 

[bredin]

There will be no exit from the sinking ship.

B.

 

[closer]

Greece,like Portugal , Italy and France will exit Euro zone , situation is getting worse in theses countries, there is no other ways. Signal will be when long term interest rate will start to increase.

 

[Pat494]

Germany might let it's opinion be heard sometime soon. As the principal player and owed a shedfull of money it has every right to get upset. It may well opt for a re-organisation of the EU without the obvious losers.

 

[Splitlink]

Germany might let it's opinion be heard sometime soon. As the principal player and owed a shedfull of money it has every right to get upset. It may well opt for a re-organisation of the EU without the obvious losers.

Germany is the same as a lot of dealers whose clents were short Swiss francs. They are just as bad as the borrowers. I don't think that they have any rights, at all. What they do have, we shall see, because, unless these indebted countries start buying German products, soon, the whole of the excercise ie. why Germany ditched a very expensive Dm for the Euro, will be lost.

 

[davidcraigson]

Not having the Euro is NOT the same as not being in the EU. While the countries MAY opt out of it, and thereby stabilize their economies somewhat, there ARE EU countries without the Euro.

 

[Atilla]

ECB Shuts Off Direct Funds to Greece as Reform Progress in Doubt


This is heading to default. Market reaction will be key and suspect a lot of volatility now.

 

[counter_violent]

ECB Shuts Off Direct Funds to Greece as Reform Progress in Doubt


This is heading to default. Market reaction will be key and suspect a lot of volatility now.

What a surprise....the Greeks vote in the loony lefties who have no intention of paying off their debts.....remind me again why anyone should give a crap what happens to Greece !!

 

[Jack o'Clubs]

What a surprise....the Greeks vote in the loony lefties who have no intention of paying off their debts.....remind me again why anyone should give a crap what happens to Greece !!

Systemic risk and moral hazard? Bearing in mind 90% of the original bail out went to paying back private sector Western banks who had lent unwisely. The original bail out, which Greece wants to renegotiate, was about the Troika helping Western banks avoid another crisis, not helping Greece....

DavidCraigson makes an interesting point: we're talking about euro, not EU exit. Post-devaluation, hyper-inflation etc that would come with a euro exit, a mightily angry Greee could be very destabilising for the EU bearing in mind how much has to be agreed by all states. Look at Greece already causing problems for additional Russia sanctions. That would just be the start, revenge being a dish best served cold, etc etc.

 

[Atilla]

What a surprise....the Greeks vote in the loony lefties who have no intention of paying off their debts.....remind me again why anyone should give a crap what happens to Greece !!

Politicians all the same, everywhere. In Greece government sector is excessively large and the private sector doesn't pay any tax.

Left policies and promises totally wrong solution but they have been elected based on promises they can not deliver. Tsipras and Yanis 'believe' they now have a mandate from the Greek people to follow their wishes. Great stuff.


Elections also coming up in few countries including UK. You 've probably heard Ed promising we'll do this and we'll do that and when ever the question is asked - how will you pay for it??? - they are either working on it or they'll better manage resources and cut waste. Same old dribble.

People will vote for free stuff as we have seen in Greece, even if there is no money in the kitty. Give people hope and lies.

UKIP also doing it. We'll stop European migrant labour and get all our long term unemployed to fill those jobs. This will also resolve UK's housing shortage. All things being equal this may work but for Euro re-action to UK goods and services, skilled shortage and training issues, rising wages and shoddy cowboy builders popping up like mush-rooms.

Simple lies but hey it works. Contagion could spread.


When Europe our biggest trading partner goes into a spin sooner or later UK will be feeling dizzy too.

So to answer your question matey - yes I do think you should give some of your crap about what happens

 

[Pat494]

Good points made in the above posts and all too relevant for a disastrous condition imho.
OK so it seems we are agreed that this motley crew of anarchists, lefties etc. will probably fail in their over expectant schemes.
What comes next I may hear you ask ? And that dear people is a more worrying scenario. Bold words from a new Govt based on little solid ground will probably not be enough. History I find nearly always gives a good indication of what will follow. The German experience of huge inflation and desperate solutions may answer this question. The Weimar Republic of Germany in the 1920s was just such a situation and we all know that it was a fertile breeding ground for the extremists to take over.

 

[Splitlink]

Good points made in the above posts and all too relevant for a disastrous condition imho.
OK so it seems we are agreed that this motley crew of anarchists, lefties etc. will probably fail in their over expectant schemes.
What comes next I may hear you ask ? And that dear people is a more worrying scenario. Bold words from a new Govt based on little solid ground will probably not be enough. History I find nearly always gives a good indication of what will follow. The German experience of huge inflation and desperate solutions may answer this question. The Weimar Republic of Germany in the 1920s was just such a situation and we all know that it was a fertile breeding ground for the extremists to take over.

...and they did and there was a war. Ukraine and a Russian with dreams of past empires? Everyone says that he can't afford it but what if he gave Greece the help it needs? I am willing to bet that Putin is thinking about how he could stir European muddy waters.

 

[Pat494]

...and they did and there was a war. Ukraine and a Russian with dreams of past empires? Everyone says that he can't afford it but what if he gave Greece the help it needs? I am willing to bet that Putin is thinking about how he could stir European muddy waters.

Unfortunately the Nationalist propaganda carries a lot of weight in Russia at the moment and Putin makes sure he reaps the accolades. As Russia's fragile economy slides down the greasy slope to disaster , will the Russian people make their dissatisfaction heard ? Or indeed can they ?

 

[Fugazsy]

Excuse my poor English on this subject, but I will do the best without worrying much about it....

This is what I understand, Greece is saying that austerity does not work for them, yes they have their own responsibility, but since the troika is interfering from 2010 the unemployment went from 9% to 25%, the public debit was 127%, now is 175%......so, not much is working....

Today the people of Greece is saying: this is not working, austerity does not work, the economy is worsening, enough is enough, we need to change direction...(the election)

The day after, the central bank says: yes, you people of Greece had the possibility to vote, but you better know that whatever you have decided means nothing because I am cutting off liquidity, doing so the PM had only to admit that what he had promise before the election to his own people, he cannot deliver.....

Not only that, the governor of the German central bank says: the Greek people need to understand that they need to share their own sovereignty with the foreign investors......

So what really means is this: sovereignty is not owned by the people anymore but is owned by the great finance and we better come to terms with it.....

lol....

 

[counter_violent]

It would be better for Greece if Germany offered to take over the running of their country. It desperately needs structure organisation and functioning systems, all of which the Greeks seem incapable of delivering.