We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
If Greece does go Bust?
Comments
-
Have any Greek politicians (present and past) apologised to their people for getting them into this mess? Or are they all still blaming the Germans?0
-
As I said before, that kind of operation is entirely different. It's a change of currency unit, not a true change of currency. Nobody loses from the change.The above law is damn near a copy of the law they used after the German hyperinflation, and it pretty quickly established a new currency. Since then, similar laws have been used time after time.
The trouble starts when the new currency is going to float against the old one."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
The Germans hold a new version of the D mark as they used to fear that the communists in the East were planning to undermine their old currency by flooding the system with counterfeit money, The Germans could solve the problem at a stroke by leaving the Euro and letting it find it's true value, the PIIGS debt would be cut at a stroke.0
-
The Germans hold a new version of the D mark as they used to fear that the communists in the East were planning to undermine their old currency by flooding the system with counterfeit money, The Germans could solve the problem at a stroke by leaving the Euro and letting it find it's true value, the PIIGS debt would be cut at a stroke.
And the global economy would go to ratsh*t and we'd have a second Great Depression.A bank is a place that will lend you money if you can prove you don't need it.0 -
As I said before, that kind of operation is entirely different. It's a change of currency unit, not a true change of currency. Nobody loses from the change.
The trouble starts when the new currency is going to float against the old one.
In the above examples people lost huge amounts from the changes.
And, basically, in these cases the governments were abandoning a currency and starting afresh.
In practical terms there is no real difference.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Don't remember any such problems when the euro was introduced.In the above examples people lost huge amounts from the changes.
And, basically, in these cases the governments were abandoning a currency and starting afresh.
In practical terms there is no real difference."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Have any Greek politicians (present and past) apologised to their people for getting them into this mess? Or are they all still blaming the Germans?
The usa is in far worse shape, will they blame the politicians when the crash comes there?Big deflation your debts are going up against everything else. I would not like to be a property owner with a big mortgage right now, pay off your debts ASAP!0 -
Don't remember any such problems when the euro was introduced.
???
Who said anything about the introduction of the euro. We are talking about establishing a new currency after an old one has failed.
Very different scenario than the euro.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
-
Norfolk_Jim wrote: »Have you never noticed how our coinage has been changed to be similar to Euro coinage?
Interesting, but what will happen when the Euro fails soon? Will we go back to old pence?Big deflation your debts are going up against everything else. I would not like to be a property owner with a big mortgage right now, pay off your debts ASAP!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards