Will Greece Be First Relegation From Eurozone ?

[Beach Hut]

Reading the papers etc it really does look like an exit is coming up for Greece which will cause more economic grief.

Yes or No ?

 

[shaolinpunk]

If they get relegated they might have trouble bouncing straight back. It will depend if their key players stick around and how much they'll have to cut their wage budget

 

[Uncle C]

Euro currently at 1.25 having been stuck below 1.20 for an eternity. Confidence is ebbing away.

 

[sten_super]

Yes, can't see a way back from here.

 

[c0lz]

100%

 

[Badger]

Greece, the Pompey of the Eurozone?

 

[Goldstone Rapper]

Much depends on whether Sotiris Ninis is fully recovered from his cruciate ligament injury. If they make a decent start in the match against Poland, I doubt they'll be the first to be eliminated.

 

[Simster]

Greece, the Pompey of the Eurozone?

Expect that dull gimp "making plans for nigel" to be along any minute to explain why the entire EC should be bailing them out and that it could happen to anybody.

 

[Badger]

You might want to consider changing your poll question:

Greece in or out Eurozone ?
Yes
No

 

[beorhthelm]

theres little question about an exit, only when. interesting program at the weekend everyone from Germans to Greeks loves the Euro, alas the Greeks dont quite understand they are goign to get cut adrift if they dont cut their spending as the Germans dont want to pay for them.

 

[MJsGhost]

I voted yes, which I assume means out!

Despite the financial/economic repercussions across Europe (and the World), at least it would mean a return of dirt cheap holidays in Greece - the Drachma will be seriously cheap to buy with the good old pound. I bloody love Greece - Rhodes in particular. Every cloud...

 

[sten_super]

theres little question about an exit, only when. interesting program at the weekend everyone from Germans to Greeks loves the Euro, alas the Greeks dont quite understand they are goign to get cut adrift if they dont cut their spending as the Germans dont want to pay for them.

While the Greeks have undoubtedly benefited from being able to borrow at the same interest rates as Germany, at the same time Germany wouldn't be as prosperous without the likes of Greece helping to curtail the strength of the euro; it's this which has allowed Germany to run such fantastic trade surpluses. The Greeks haven't done well, and the political establishment has completely failed to get to grips with the problem, but the desire of the Germans to both have their cake and eat it is just as frustrating.

 

[cirC]

While the Greeks have undoubtedly benefited from being able to borrow at the same interest rates as Germany, at the same time Germany wouldn't be as prosperous without the likes of Greece helping to curtail the strength of the euro; it's this which has allowed Germany to run such fantastic trade surpluses. The Greeks haven't done well, and the political establishment has completely failed to get to grips with the problem, but the desire of the Germans to both have their cake and eat it is just as frustrating.

Therein is the answer.Greeks, maybe Spain,Portugal & Italy and the Euro will soar in value thus making German exports dearer.Catch 22 imho.
Less exports hits the German economy or status quo and they continue to spend their money on keeping the Euro afloat.This will be a long lived pain for all and that does include the UK.

 

[Scampi]

Will they be relegated? Well lets just say after failing to find a new pm ,they look set to appoint Terrious Connorpopoulis as interim pm.

 

[Ninja Elephant]

Will they be relegated? Well lets just say after failing to find a new pm ,they look set to appoint Terrious Connorpopoulis as interim pm.

Hopefully he's able to do a Russell Slade type of job, rather than a Terry Connor.

 

[AMEXican Wave]

Just proves that you can only have a multinational currency without full political union in the good times.

Invest in gold if you can afford it.

 

[beorhthelm]

While the Greeks have undoubtedly benefited from being able to borrow at the same interest rates as Germany, at the same time Germany wouldn't be as prosperous without the likes of Greece helping to curtail the strength of the euro; it's this which has allowed Germany to run such fantastic trade surpluses. The Greeks haven't done well, and the political establishment has completely failed to get to grips with the problem, but the desire of the Germans to both have their cake and eat it is just as frustrating.

while the Germans have of course benefited, theres deeper issues. they have a very strong aversion to inflationry policies (with good reason) and recently went through a period of austerity, with wage cuts, tight budgets etc as they merged the east into the west. the feeling is, we had to go through tough times, so the Greeks (or anyone else) has too as well, the Greeks have have a diet after too much cake.

 

[sten_super]

while the Germans have of course benefited, theres deeper issues. they have a very strong aversion to inflationry policies (with good reason) and recently went through a period of austerity, with wage cuts, tight budgets etc as they merged the east into the west. the feeling is, we had to go through tough times, so the Greeks (or anyone else) has too as well, the Greeks have have a diet after too much cake.

I don't disagree that the Germans have reasons for their cautiousness - what I'm saying is that it's a two way thing. The Germans are being intransigent while also accusing the Greeks of being uncooperative.

If the Germans are/were so scared of losing control of monetary policy, why did they agree to/arrange a monetary union? The answer is because they stood to gain from it. They've benefited and are now reluctant to assist (through some facilitation of fiscal transfer, either direct or indirect) to share the pain.

 

[ROSM]

I don't disagree that the Germans have reasons for their cautiousness - what I'm saying is that it's a two way thing. The Germans are being intransigent while also accusing the Greeks of being uncooperative.

If the Germans are/were so scared of losing control of monetary policy, why did they agree to/arrange a monetary union? The answer is because they stood to gain from it. They've benefited and are now reluctant to assist (through some facilitation of fiscal transfer, either direct or indirect) to share the pain.

exactly.

They (and France) allowed the Greeks to join with manipulated figures. They did that for a reason - which was them gaining from it.

With Hollande now metaphorically parking his tanks on Merkel's lawn as to how european financial control should be exercised, just sit back and wait for the biggest blow out since Gillian Taylforth suggesting pulling over onto the hard shoulder of the A1

 

[BigGully]

I don't disagree that the Germans have reasons for their cautiousness - what I'm saying is that it's a two way thing. The Germans are being intransigent while also accusing the Greeks of being uncooperative.

If the Germans are/were so scared of losing control of monetary policy, why did they agree to/arrange a monetary union? The answer is because they stood to gain from it. They've benefited and are now reluctant to assist (through some facilitation of fiscal transfer, either direct or indirect) to share the pain.

Maybe they no longer wish to assist as they cannot see a time when they might benefit again.