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Greece warns on euro exit if bailout not signed
Comments
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shortchanged wrote: »Since when has paying off debts with more debt been the answer.
When one debt is at 19% APR and another debt is at 0% APR with a 2.5% balance transfer fee ?0 -
RenovationMan wrote: »When one debt is at 19% APR and another debt is at 0% APR with a 2.5% balance transfer fee ?
Only works if you cut up all the cards though. Greece appears to not be planning on that.0 -
Keep your guard up Shortchanged, chin sticking out like Richard Dunn in his prime
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
RenovationMan wrote: »When one debt is at 19% APR and another debt is at 0% APR with a 2.5% balance transfer fee ?
Yes of course. But we are not talking about these sorts of figures are we.
Because in this example we can look at Greece as somone who has debt who has become unemployed (basically Greece has no economic growth so is like an individual who now has less 'earned' income coming in).
So basically they are continuing to borrow more and more that they will less and less be able to pay back.
Result..................more debt.0 -
RenovationMan wrote: »When one debt is at 19% APR and another debt is at 0% APR with a 2.5% balance transfer fee ?
Oh great, the answer to all the worlds problems. I didn't realise it was this simple to wipe out all the indebted countries debt.
Why are we having all these stupid cuts then when all we have to do is borrow more to get us out of debt.0 -
shortchanged wrote: »Oh great, the answer to all the worlds problems. I didn't realise it was this simple to wipe out all the indebted countries debt.
Why are we having all these stupid cuts then when all we have to do is borrow more to get us out of debt.
Erm, you already replied to the same post five and a half hours ago. Did you forget?
Sheesh, talk about Goldfish!0 -
shortchanged wrote: »Yes of course. But we are not talking about these sorts of figures are we.
Because in this example we can look at Greece as somone who has debt who has become unemployed (basically Greece has no economic growth so is like an individual who now has less 'earned' income coming in).
So basically they are continuing to borrow more and more that they will less and less be able to pay back.
Result..................more debt.
Yes, we could look at it like that, but only if we're brainless cretins without even a small child's understanding of economics.0 -
The fear engendered by the threatened Greek departure has very little to do with money. Across Europe, the man in the street wants out. The euro-empire builders are terrified of a snowball. "If the Greeks can get out, so can we"."Never underestimate the mindless force of a government bureaucracyseeking to expand its power, dominion and budget"Jay Stanley, American Civil Liberties Union.0
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RenovationMan wrote: »Erm, you already replied to the same post five and a half hours ago. Did you forget?
Sheesh, talk about Goldfish!
Just bumping RenoMan as nobody replied to my earlier point. 0 -
OK as you seem to have the answers please tell me how they can solve their problems assuming the facts as follows:Ilya_Ilyich wrote: »Yes, we could look at it like that, but only if we're brainless cretins without even a small child's understanding of economics.
Greece spends more than it earns every year (even excluding int on past debt.
It has no viable way of increasing it's income.
It is not prepared to decrease its public spending to below its income.0
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