Will Greece Be First Relegation From Eurozone ?

[Dandyman]

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.

The Germans are giving money to the Greeks to pay German Banks. It's hard to see any of the money actually going into the Greek economy.

 

[philsussex]

The French might be able to make a few quid out of the Indians if they sell that rusty old tower thing in Paris for scrap. Might even get their credit card back.

 

[Goldstone Rapper]

Great Euro Crisis is well worth watching on iPlayer for anyone who missed it...

 

[Beach Hut]

Great Euro Crisis is well worth watching on iPlayer for anyone who missed it...

There is a good program on Thursday night about the Euro crisis on BBC2

 

[Beach Hut]

I was responsible for my companys Greek business in my last job and the stand out thing I remember is that they had by far the biggest expense accounts for the worst sales across Europe...
Followed closely by the Spanish and the Italians....hardly academic I know but telling nonetheless.

Interesting as when in Portugal for the footie last summer the office workers had 2 hour lunch breaks - lazy feckers

 

[beorhthelm]

The Germans are giving money to the Greeks to pay German Banks. It's hard to see any of the money actually going into the Greek economy.

right, so the Greek government just borrowed money to pay back the lenders, nothing spent on public largese (cough... olympic ghost stadiums) and an over staffed over paid civil service?

stop living in denial. they wanted stuff now which they couldnt afford now, so brought it on tick. that has to be paid back sometime.

 

[keithbeaky]

When the Euro goes prepare for Dark Days

 

[Beach Hut]

When the Euro goes prepare for Dark Days

Actually exits will strengthen sterling as a safer haven

 

[keithbeaky]

Actually exits will strengthen sterling as a safer haven

And our economy will strengthen? Unemployment will lower?

 

[Goldstone Rapper]

Just like in the 1930s, do we need a major cross-continental war to boost our manufacturing industry and lift us out of economic depression? If so, who would we have it with?

 

[BensGrandad]

Actually exits will strengthen sterling as a safer haven

I dont know anything about this money market thing but reading the papers it says that if the Euro fails it will cause havoc to the value of the pound and the dollar and to most currencies throughout the world. If this happened would Greece revert back to the drachma and would other European countries start to follow suit back to their own currency from the euro. As I said I dont really understand this money thing just what my money buys me when abroad and the euro has bought me a lot less in recent years.

 

[Bevendean Hillbilly]

Just like in the 1930s, do we need a major cross-continental war to boost our manufacturing industry and lift us out of economic depression? If so, who would we have it with?

Bags I the Germans this time round.

 

[Arthritic Toe]

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

Yes - marvellous for those of us paid in Euros

 

[Bevendean Hillbilly]

I dont know anything about this money market thing .

Neither did the Greek finance department fella.

 

[philsussex]

Just like in the 1930s, do we need a major cross-continental war to boost our manufacturing industry and lift us out of economic depression? If so, who would we have it with?

Let's fight France. They're USELESS!

 

[Beach Hut]

And our economy will strengthen? Unemployment will lower?

Yes I think that it will strengthen our economy the problem is my company predominantly trades in the Eurozone although year in year out the UK does better.

Unemployment will fall gradually but it will be a long haul I am afraid.

 

[keithbeaky]

Yes I think that it will strengthen our economy the problem is my company predominantly trades in the Eurozone although year in year out the UK does better.

Unemployment will fall gradually but it will be a long haul I am afraid.

I hope you're right because I think if people are worried times are bad, you aint seen nothing yet. I really hope im wrong

 

[Chicken Runner61]

I suspect there will be a result for the leftist Syriza party in the elections. A lot of Greeks are now worried about the Nazi's that came out the woodwork and may vote to make sure they don't make further progress.

Syriza will reject the bailout terms, but I think the Germans are getting more worried about contagion to Spain and Italy so they may relax the terms and also are beginning to accept they might have to suffer a little inflation to get over this. The Germans are also worried about China hitting their export market so the Euro dropping isn't exactly going to hurt them.

As for our position, sterling strengthening against the Euro isn't necessarily going to be good for our economy, our growth is abysmal and with Europe in so much shit its not going to improve

 

[Lord Bracknell]

The Greeks will walk away with renegotiated bail out terms - Mrs Merkel won't let the Eurozone collapse on her watch.

When it does collapse (and it will), she will go the way of all managers who fail.

 

[Goldstone Rapper]

Will Greece be allowed to join Sterling?