Greferendum

How should Greeks vote in Sunday's Referendum

  • Yes - for German forced Austerity

    Votes: 6 26.1%

  • No - force the Euro-tyrants to Renegotiate a non-Austerity solution

    Votes: 16 69.6%

  • No Opinion

    Votes: 1 4.3%
  • Total voters
    23
camberiu said:
Really? Argentina paid back its debts? The creditors got no haircuts at all?

It seems that you are making up as you go too.
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Nestor was proud of his foreign debt handling ....didn't pay for 5 years then obtained a 65 % reduction...!! He sent his negotiating team to Ecuador and elsewhere to train on how to clip creditors... :wub:
 
Rich One said:
Nestor was proud of his foreign debt handling ....didn't pay for 5 years then obtained a 65 % reduction...!! He sent his negotiating team to Ecuador and elsewhere to train on how to clip creditors... :wub:
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I don't find default to be necessarily a bad option. Debts that cannot possibly be paid back won't be. Default is just the admission of that. The issue I have is when a nation default but does not addresses the underlying reasons that drove it to default. Point and case: Argentina.
 
camberiu said:
I don't find default to be necessarily a bad option. Debts that cannot possibly be paid back won't be. Default is just the admission of that. The issue I have is when a nation default but does not addresses the underlying reasons that drove it to default. Point and case: Argentina.
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Well, the point is that the causes were solved: an economy attached to the USD with no infaltion... Am I right?...

Greece has the same problem, a currency printed by Germany. But germans lost the war, right?
 
camberiu said:
I don't find default to be necessarily a bad option. Debts that cannot possibly be paid back won't be. Default is just the admission of that. The issue I have is when a nation default but does not addresses the underlying reasons that drove it to default. Point and case: Argentina.
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The Default option should be extended to us individuals as well if you consider the interests on a loan you have are excessive, you can refuse to pay calling the interest Greedy :rolleyes:
 
Bajo_cero2 said:
Well, the point is that the causes were solved: an economy attached to the USD with no infaltion... Am I right?...

Greece has the same problem, a currency printed by Germany. But germans lost the war, right?
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I'm sure if Greece just exits from the Euro zone and prints their own bills all problems are solved as the economic fundamentals are perfect. I wonder why people actually study economics - seems like the easiest topic in the world :D
 
thorsten said:
I'm sure if Greece just exits from the Euro zone and prints their own bills all problems are solved as the economic fundamentals are perfect. I wonder why people actually study economics - seems like the easiest topic in the world :D
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Well, this is very simple: Greece gives to Germany wealth and in exchange Germany gives back paper. Of course Greece goes into bankruptcy. If now Greeks gives the State of Greece wealth in exchange of paper, the State of Greece can create reserves. The State receives Euros and USD and gives to its citizens Dragmas, best deal ever for the State as it happens in Argentina.

On the other hand, an economy can be competitive by high rate of production, work, quialified workers and technology like Germany or it can be cheap using the exchange rate of its currency. When you neutralize this tool by having a common currency, then Greece has nothing to compete Germany and guess what happends...
 
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