I can't see this ending well. Greeks won't stand for it, German citizens are furious and want no part of it. Some argue the Euro will strengthen once Greece leaves, but that will simply bring the other PIGS into the firing line. Greece has a relatively small economy, Spain and Italy are major economies.We live in interesting times.
6 comments:
I think in the end the EU will step up and kick this down the road. This will defer for a long time the UK from going to the Euro currency and the EU from adding additional weak members...but may speed up Turkey. The great news is that for once we don't have to listen to Al Gore lectures on a daily basis.
The Greeks are going to be taking it up the a**.
No pun intended. :-)
Anon beat me to the pain in the a** joke.
Still, this is the great thing about a common economy: you can spend away like a crack smokin' sailor on shore leave. All those nice other countries will end up picking up the tab.
If, no change that, when California goes bankrupt, we'll all end up picking up the tab in one way or the other.
But yes, Britian will stand alone going "ha ha" like Ralphie watching the pound be the stable currency it is. Yes, they'll also be very happy to see Turkey bring in some much needed cash for a short term infusion.
Anon beat me to the pain in the a** joke.
Well, for the rest of the Eurozone, let's hope that Greece can put their problems... ahem... behind them. ;-)
Maybe someone can answer, but if California goes bankrupt, why can not a judge force it to say, sell highways, drilling rights, anything, to satisfy note holders.
What's wrong with that?
Paul made me remmember one of my alltime favorite books: The Bombardiers by Po Bronson.
The Dominican Republic defaults on their bonds. A firm buys all their outstanding debt and then takes them public. Awesome. I got the nickname Sid at work. Couldn't shake that one for years.
Post a Comment