What will happen to Greece?

[16bha]

What should Greece do?
Leave the Eurozone?
Leave the EU completely?
Stay and fight it out?
Could you give a shit?

Is this the beginning of the end for the EU?

 

[dgh123]

We should just f*** off out of the E.U and leave it to go into disrepair, I hate it!!!

 

[Matrix10]

Greece will go pop, go back to the Drachma which will be worth f all. It will then bring about a complete failure for the rest of the EU and we will all be potless.
On the bright side those of us with a few quid left will enjoy some very cheap holidays in Greece, if you don't mind putting your used toilet paper in the bin by the toilet as they didn't put decent drains in in the first place.

 

[Lincoln Imp]

We should just f*** off out of the E.U and leave it to go into disrepair, I hate it!!!

That's one of the best arguments I've ever heard against the EU.

 

[Beach Hut]

The more worrying thing is the domino effect, if they go under expect probably Portugal, Spain and Italy to go down and possibly Eire as well.

 

[e77]

The EU will split into three groupings:

- Northern European countries in the Euro who will control the money
- Southern European countries in the Euro who will have to do what they are told or leave
- Non Euro countries, including us

At the moment it looks like we have a good deal, but perhaps give it ten years before we kiss the guns.

 

[DerbyGull]

The more worrying thing is the domino effect, if they go under expect probably Portugal, Spain and Italy to go down and possibly Eire as well.

Scary thought.

 

[dgh123]

[MENTION=12947]Lincoln Imp[/MENTION]

Why thank you

 

[beorhthelm]

The more worrying thing is the domino effect, if they go under expect probably Portugal, Spain and Italy to go down and possibly Eire as well.

my reading is that there's two scenarios, the first is that the other med nations will be under focus and with enough problems of their own, they will collapse. ie, theres a fear of speculators targeting them along with investors exiting. however, the second issue quietly going on in the background is that French banks have a large exposure to the Greek debt, over $50b. having to right this off would f*** a few of them, and would this risk the French state's credit rating as the fear grew they'd have to step in?

 

[Beach Hut]

my reading is that there's two scenarios, the first is that the other med nations will be under focus and with enough problems of their own, they will collapse. ie, theres a fear of speculators targeting them along with investors exiting. however, the second issue quietly going on in the background is that French banks have a large exposure to the Greek debt, over $50b. having to right this off would f*** a few of them, and would this risk the French state's credit rating as the fear grew they'd have to step in?

I think the Germans are in the same boat on the Greek debt on banks as well ?

Alos did a Belgium bank nearly collapse the other day which nearly caused another wipe out

 

[The Modfather]

the second issue quietly going on in the background is that French banks have a large exposure to the Greek debt, over $50b. having to right this off would f*** a few of them, and would this risk the French state's credit rating as the fear grew they'd have to step in?

Agreed. Also with the Italians borrowing at over 6% they are seriously screwed as well.

 

[Don Quixote]

I think the country will still be there whatever happens.

 

[Rowdey]

my reading is that there's two scenarios, the first is that the other med nations will be under focus and with enough problems of their own, they will collapse. ie, theres a fear of speculators targeting them along with investors exiting. however, the second issue quietly going on in the background is that French banks have a large exposure to the Greek debt, over $50b. having to right this off would f*** a few of them, and would this risk the French state's credit rating as the fear grew they'd have to step in?

And aren't British banks into French banks for £m's too.. ? I think that the real fear; Greece going would have a huge domino effect on all of us.

 

[beorhthelm]

I think the Germans are in the same boat on the Greek debt on banks as well ?

Alos did a Belgium bank nearly collapse the other day which nearly caused another wipe out

Germany up for $19b but their general debt level is lower. Dexia was the Belgium/French bank, not too large and seems ot have past most by.

And aren't British banks into French banks for £m's too.. ? I think that the real fear; Greece going would have a huge domino effect on all of us.

i dont know for sure about that. i gather one of the ironies is that the UK banks, while brokering deals and involvement in trading and market making, may not have much direct exposure to sovereign bonds or european banks as they where low risk and therfore lower returns. we may well have purged the system, with our bail out and internal restructuring 2-3 years ago.

 

[perseus]

Alexander's great New Recipe for Moussaka: Watch out the Cornish, he is after Pasties

It will get invaded by Macedonia

 

[Leekbrookgull]

The more worrying thing is the domino effect, if they go under expect probably Portugal, Spain and Italy to go down and possibly Eire as well.

If ? They are going and they will,there are waiting at the door.

 

[DavePage]

Slippery slope

 

[arkan]

They will be made to leave the Euro (not the EU) and to some extent go through the same process that happened to Argentina after their economy collapsed in 2002. I.E have their new currency worth next to nothing on the foreign markets so they have no buying power at all, even when put up against their neighbours in the balkans.
Also all imported goods (in greeces case most consumables, bar olives pretty much) will be considerably expensive, so you might get a cheap holiday there, in terms of flight/hotel, but have fun paying £30 per head for a meal and drinks everynight.
And also i can see them aligning more with countries in the East, especially Russia and to some suprisingly Turkey.

 

[Freddie Goodwin.]

How will that effect us with big banks like Santander, aren't they Spanish?

 

[wunt be druv]

Maybe a Mega rich Arab billionaire will buy the country,buy all the top business men/women,financial experts and politicians and in a years time, turn it into the best country in the world...you never know?