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On now, "This World" on Greece.
Comments
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Greek public spending as a % of GDP has been higher over the last 3 years than before the crash
Yes of course it has.
That's what happens when you destroy an economy faster than you can reduce spending.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
If their poverty is their own fault, why should it be fixed at the expense of others?
You could have said the same thing about Germany in the 1920's.
That didn't end well....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Graham, how do you fix a poverty problem by impoverishing more people?
Let the problem bear out, let it default, let them rebuild.0 -
HAMISH_MCTAVISH wrote: »You could have said the same thing about Germany in the 1920's.
That didn't end well....
Are you saying now that any nation that wants a standard of living beyond what they are capable of sustaining by their own efforts, should be handed the money and allowed not to repay because they may go to war?
Sounds like a very dodgy economic or international strategy.0 -
HAMISH_MCTAVISH wrote: »You could have said the same thing about Germany in the 1920's.
That didn't end well....
That's true. The Nazis took control of Germany in 1933. They sold off the gold reserves, ran large deficits until the money ran out, at which point they invaded Poland.
I'm not sure that Greece has the capability to invade anyone.0 -
Have you seen the film 300.
Bit gay but they do seem to like a punch up.
Yes, seen 300. Great film, but then I'm a big Frank Miller fan. Unfortunately much has changed since the 5th century BC and I'm not sure that the Spartans would stand much chance these days if faced with even the most rudimentarly armed army brigade.0 -
If the point of leaving the euro is to print money because the country has no credit, then the money will be wallpaper and the exercise will be self-defeating. Nowadays, currency is backed by credit, whichever currency it is.
Whatever path they pursue, things are going to get a whole lot worse in Greece before they get any better. The point of leaving the Euro is that if they stay in, there is no end in sight. A significant devaluation is required before they can even begin to recover.0
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