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Could a Grexit actually happen? Snap elections in January say it's possible
invite response
2014 Dec 29, 10:12pm 1,834 views 6 comments
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Heraclitusstudent
2014 Dec 30, 1:38am
"Opposition to austerity": What alternative does Greece have?
What happens if they exit and there is a capital flight? What if no one lends to them? There are worse things than austerity and leaders know it.
They will just negotiate with Europe and get a few concessions, because in the end Europe doesn't want them to exit and default. But that's poker with a bad hand and everyone else knowing it.
MisdemeanorRebel
2014 Dec 30, 1:45am
"Opposition to austerity": What alternative does Greece have?
What happens if they exit and there is a capital flight? What if no one lends to them? There are worse things than austerity and leaders know it.
Leave the Euro. Enjoy a boom in tourism and a great advantage in export pricing.
It's already godawful in Greece, much worse than anytime in the past few decades.
Smartest thing to do would be for Greece, Spain, Hungary, Bulgaria, etc. to hold a well publicized meeting about leaving the EU or demanding concessions in league.
Heraclitusstudent
2014 Dec 30, 1:56am
Leave the Euro. Enjoy a boom in tourism and a great advantage in export pricing.
And no one lending to the government, inflation going through the roof, interest rates as well, everyone rushing to pull out money out of banks and change it to Euros, banks failing, life savings lost, etc, etc...
Just look at Argentina: how well did it work for them.
They are much better off with infusions from Germany in exchange for actually cleaning up their acts, which also benefits them in the long term- even as it hurts in the short term.
indigenous
2014 Dec 30, 2:04am
Really it is just a math problem either the countries of the PIGS undergo draconian unemployment or they leave the Euro, it is inevitable that they will leave. Germany will take it in the ass just like China is about to. Both countries practiced mercantilism, live by the sword die by the sword.
zzyzzx
2014 Dec 30, 2:20am
You say Grexit like it's a bad thing. Letting Greeks (and Italians, and Portuguese) into the Euro zone (and European Union) was a mistake in the first place. Everybody knows that these are countries that can't rule themselves and need to be treated like children.
Everyone believed that the Greek legislature, led by Prime Minister Antonis Samaras, would be able to elect a new President. But opposition to his party’s austerity policies is strong and the legislature failed in three attempts, forcing Samaras to call for a “Snap†Presidential election on Jan. 25, 2015. If the opposition party wins, a Greek exit from the European Union, or Grexit, could actually happen.
http://www.globaldeflationnews.com/grexit-looms-possible-as-snap-elections-in-greece-have-moved-from-fantasy-to-reality/
#elections