Posted on 07/03/2015 10:28:53 PM PDT by aquila48
As the Greek debt standoff approaches its final denouement – oh please let it be so – judgments are becoming easier to make. The most obvious (obvious all along, it might be said) is that the sooner Greece leaves the euro, the better. If a legal way of forcing the Greeks out can be found, it should be used. In any case, this debilitating charade has carried on quite long enough. For once, the German high command is correct; even if some sort of a compromise could be cobbled together, Greece’s hard-Left Syriza-led government couldn’t be trusted to implement the stipulated reforms, and a few months down the line, we would be back in exactly the same position.
(Excerpt) Read more at telegraph.co.uk ...
I’ve been saying this for 7 years.
Let’s get the show on the road already and start rebuilding instead of pretending everything is fine.
I agree. Dump Greece!
Those jekoffs wanted Greece to subsume itself to the EU and failed.
Just need the PIS to follow and we win...
Greece has been bankrupt for years and anybody who has paid attention knows it. Let the bankruptcy go through, let the foolish lenders take their lumps, don’t lend them any more without good security/collateral, and let them live on what they can earn/collect from their tax payers in the future. They can stay in the Eurozone, and whether they keep using euro currency or not - who cares??? Just lend them nothing without great collateral!
Kick them out. A great move in Checkers.
In Chess, one might wonder who the expelled Greeks might turn to.
Russian Navy bases in Greece? China happy to move in to include the Greeks in the new world currency they are trying to build?
This isn’t such an easy thing as ‘kick them out”.
The only part I can’t figure out, is how America will be forced to pay, if Greece, reneges on its deal with the EU.
but I feel sure we get to pay in the end.
For once, the German high command is correct …That’s a phrase that ought not be uttered by anyone at the Telegraph. Especially when this is Marxist against Marxist. The euro was never about a currency, but a way to get countries to surrender their sovereignties. Have the Telegraph staff forgotten what Thatcher said in 1995?
You have not anchored Germany to Europe; you have anchored Europe to a newly-dominant unified Germany. In the end, my friends, you will find that it will not work.And this is what they have been doing. The European Central Bank is on German soil for a particular reason.
Thank you for carrying this to its logical conclusion.
This referendum vote makes little sense. How many people will vote for austerity? Of course, I base my assumptions on what I see here in the US.
I can see why the Europeans are jumpy. Not only from a financial standpoint...but from a security standpoint.
From what I can tell...a large part of the Greek debt is owed to the IMF, in which we participate.
If I have misunderstood this, I’m sure someone will correct me (and set my mind at ease as well.)
I think you are right..
If Marxism is so bad, would we be doing it here?
Russia doesn’t need and can’t use a Med base.
Even if Greece leaves the Euro Europe is still their major market and they can’t substitute them with anyone else.
The Chinese need deadbeats like them ?
Not likely. They aren’t dumb enough to lend them anything significant.
Put yourself in this point....a very complicated bail-out deal which you have maybe five days to read over. For ninety-nine percent of Greek society, I think it’s way beyond their comprehension level. So, you end up listening to your political party. Oh, but by the way....there are at least twenty significant political parties in Greece. So each has a different take on the bail-out.
Based on European papers that I’ve read....I’m guessing it’s a 55-to-60 percent ‘no’ vote on Sunday.
Oddly, which you’d think this would matter....but NO one has stood and said what happens after the ‘no’ vote. Most Americans would ask about consequences and what happens next if this occurs. You don’t see that in Greece. For this reason....I’m skeptical of what the yes or no really means.
So, I’ll predict this. No wins. Monday, no banks open in Greece. The ‘haircut’ takes place with accounts over 8,000 Euro consumed by the banks. Local business folks go nuts. Somewhere along the 15th of July....the government steps down because of chaos in the streets. A new election is called for and has to occur within three weeks. July and August, there is massive turmoil, and there’s finally a military coup held by late August. Journalists will stand there shocked but everyone in Greece will agree....democracy doesn’t work. The bail-out conditions stipulated by the EU will be accepted. And tens of thousands of retirees will be called and have their pensions whacked on. By summer of 2016, a million Greeks will have packed up and left the country because it’s a miserable situation.
They won’t need to boot Greece out, Tsipras either caves or is booted from office. According to polls, 2/3 of Greeks want to remain within the EU and there is a referendum this weekend. Simply throwing them out would cause a financial catastrophy in the derivatives market and major euro banks could go under making the Lehman Bros collapse look like a walk in the park. Where do they get these idiot reporters?
Prediction: Greece will get booted out of the EU and right into the outstretched arms of Vlad Putin...
Greece purges will then be carried out by putin..
The Russkies can have those worthless commies. The only country more corrupt and backward than Greece is Russia. Considering that the Russkie economy crashes every time there's a drop in oil prices, having to bail out the Greeks will just add one more welfare dependent nation to the Soviet Un-- err, Russian Federation.
Margaret Thatcher is known to have said, "Socialism works until you run out of other peoples money".
After doing some research, that phrase is not exact, but she said similar in an interview in 1976: "Socialist governments traditionally do make a financial mess. They always run out of other people's money. It's quite a characteristic of them."
I was never so proud in my life when serving in Aviation Navy while Ronald Reagan and Margaret Thatcher stood against the "evil empire" and eventually brought the Berlin wall down.
Now what do we have as a President of the USA and a Prime Minister of England? Appeasement and feckless leadership from both that is allowing the ISIS savages to advance and even allowing them in our two nations. Reagan/Thatcher would never have allowed that to happen.
Plus, we wouldn't be playing checkers with Iran's Mullahs while they play chess. They were both leaders of the highest caliber and kept the world in check through force and non-compromising diplomatic efforts. Remember, "Trust but verify" by Reagan? Under Obama it's, "Trust and please like me", only.
History will not be kind to Obama. The academia types can re-write history all they want, but the truth will prevail. Barack Hussein Obama is the Neville Chamberlain of our age and even worse with his bowing to so many foreign potentates. He's an affirmative action punk who is way over his head regarding international matters.
It's said daily from the right and some left media that Obama has alienated our allies and encouraged our enemies. It's a fact that no matter how much his handlers try to spin it.
My prediction: The Iran talks will fail no matter how many extentions occur. If Obami/Kerry (I got 3 purple hearta as in many month> keep backing off from their inspection requirements, there is no way the feckless Congress will approve such a treay. And yes, It's treaty.
The only thing in your post I disagree with is...”Most Americans would ask about consequences...”. If there are 20 political parties in Greece, and I don't doubt that at all, most will vote for an easy fix. You know, like hope and change and free condoms and free Obamaphones. I am going to assume most people on the dole in Greece are much like those here.
They won't think about HOW things will be accomplished. Given that scenario, I think the European newspapers are correct...a no vote.
Checkers? Obama’s playing tiddlywinks.
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