Greece urged to give up euro

Timesonline.uk ^ | May 30, 2010 | Robert Watts

[rdl6989]

THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.

The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency.

[pepsionice]

While the best advice...it’ll screw up any hope of foreign investment in Greece for a decade.

[Paladin2]

Who next? Spain? France? everyone? until Germany is the only country using the Euro?

[freedumb2003]

>>Who next? Spain? France? everyone? until Germany is the only country using the Euro?<<

Which they will rename the “Duetchmark.”

I hope the “Amero” fans are watching this failed experiment closely — and the very real human suffering it has and will cause.

[stripes1776]

Euro fail. Integration fail.

[PugetSoundSoldier]

Hey, it'll only cost another €20 billion to rework Greece back to the Lira! No problem! I think it's the epitome of socialist mindset to define all the rules and hoops a nation has to go through to qualify for entry into the EU, and completely forget about how to enforce continued adherence to those same rules.

[taxtruth]

We should do the same thing and outlaw paper money and end the federal reserve and make it a crime to do fractional banking without 100% backed assets.

[GOPJ]

Greece is the tip of the iceberg - what about Spain, Portugal, Italy? Shall they all “give it up”?

[Farmer Dean]

So all the lazy Greek Marxists get to screw their creditors?These scum sure are free and easy with other people’s hard earned money.

[okie01]

We should do the same thing and outlaw paper money and end the federal reserve and make it a crime to do fractional banking without 100% backed assets.

You really want the economy to stay in teh crapper, don't you?

[Kellis91789]

Why would Greece use the Lira instead of going back to their original currency, the Drachma ?

[Richard Kimball]

If we tied ourselves back to gold, I wonder what gold would be worth an ounce? I have no idea.

[rdl6989]

I can’t wait to see how the markets are going to react to the suggestion of Greece defaulting.

[PugetSoundSoldier]

LOL - sorry about that!

Although the Turkish Lira is looking a lot better than any Drachma would be...;)

[SmokingJoe]

THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy

How much of that $300 Billion is owed to American tax payers (through the recent IMF Greek bailout), the most abused humans on the planet?

[Army Air Corps]

BTW, they used the Drachma. Also, recall that Greece cooked their books to be included in the Eurozone utopian pipedream.

[Frantzie]

Who in there right mind would invest capital in Greece? The unionized hell hole incapable of creating wealth.

[Kackikat]

It does not matter, because this administration will take all the gold next chance they get.

[Kellis91789]

I don’t think the Turks would be too happy about that ! Besides, a devaluation only works if they can run their own printing presses. You know, like North Korea does with the US Dollar.

[Army Air Corps]

We provided about $60 billion. Let’s be honest, we knew we would never see that money again. But hey, no one asked us, the taxpayers, if we wanted to fork it over in the firstplace.