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To: BeauBo

Yeah, maybe. I cannot say that my personal observation was representative but it convinced me that trusting the rule of law in Greece is an iffy proposition.

I think the important question is so what, then?

Greece can’t pay up and defaults, due to internal problems.

Lots of European investors go down.

Ripples of financial instability spread towards the USA from Europe.

Presuming Obama has not pre-destabilized the USA economy, the Fed goes into QE-infinity++ to compensate for the downfall of the Euro and effects on stock markets.

What have I missed? Germany invades Greece? (again?)


30 posted on 02/11/2015 12:24:28 AM PST by SteveH
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To: SteveH

I believe that your observation is correct, and I have seen folks from the Balkans doing scut work in Greece on our visits as well. Just a heads up about the Guardian newspaper - proud of their long history as deliberate propagandists for the left.

So what then, for Greece and the financial system?

I see two options,: pay now, or pay more later.

The pay now scenario is the Greek exit from the Euro, with probable default. The European Central Bank would likely print money to sore up their banks, devaluing the Euro a bit. If the pain is enough in Greece, perhaps the government will fall within a year.

The pay more later scenario, as Freeper General Blather suggested, is more characteristic. They will all try to kick the can down the road, and send more good money after bad, letting the total future loss rise. It is getting harder to do that, as the total grows so big, that the monthly payments can’t be managed. Again, probable default by Greece, but only after raising the total and encouraging more of the European left to default as well.


32 posted on 02/11/2015 2:32:33 AM PST by BeauBo
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