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Will Greece Destroy the Euro Zone? - Room for Debate
The collapse of the Papandreou government may undo European efforts to restructure debt and hold the union together.There is a simple exit from this dilemma. Germany pays off the debt.I doubt this will happen. If the government of Greece collapses again it will probably make little difference.http://en.wikipedia.org/wiki/Greecehttp://en.wikipedia.org/wiki/Greece#20th_century_onwards"King Constantine's dismissal of George Papandreou's centrist government in July 1965 prompted a prolonged period of political turbulence which culminated in a coup d'état on 21 April 1967 by the United States-backed Regime of the Colonels. The brutal suppression of the Athens Polytechnic uprising on 17 November 1973 sent shockwaves through the regime, and a counter-coup established Brigadier Dimitrios Ioannidis as dictator. On 20 July 1974, as Turkey invaded the island of Cyprus, the regime collapsed.
Former premier Konstantinos Karamanlis was invited back from Paris where he had lived in self-exile since 1963, marking the beginning of the Metapolitefsi era. On 14 August 1974, Greek forces withdrew from the integrated military structure of NATO in protest at the Turkish occupation of northern Cyprus.[33][34] The first multiparty elections since 1964 were held on the first anniversary of the Polytechnic uprising. A democratic and republican constitution was promulgated on 11 June 1975 following a referendum which abolished the monarchy.
Meanwhile, Andreas Papandreou founded the Panhellenic Socialist Movement (PASOK) in response to Karamanlis's conservative New Democracy party, with the two political formations alternating in government ever since. Greece rejoined NATO in 1980.[33] Traditionally strained relations with neighbouring Turkey improved when successive earthquakes hit both nations in 1999, leading to the lifting of the Greek veto against Turkey's bid for EU membership."
What will make a difference is a default by Greece.
Such a default will lead to cascading bank failures and the rapid collapse of the peripheral states. quickly followed by Italy, Spain and probably France. There will be so much refugee money in Germany that the Germans will suffer the pains of inflation. The same burst of cash will saturate the U.S. markets. It may even relight the housing market.
That will not be a good thing.
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The Euro Will Survive - Room for Debate
The euro zone’s survival has little to do with Greece except to persuade other members to redouble their efforts and stick with the euro."To encourage the others." Does not work. Either for maintaining discipline among troops or for keeping debtor nations paying interest on operating loans that exceeds revenues. Austerity contracts economies and makes unbearable interest even more unbearable.Greece and all of peripheral Europe must inflate their currencies.Germany and France will not permit inflation.The Euro is dead. -
The Lost Secret of Running
It seems right to me. I will have to try it.I remember learning to run barefoot.I notice that these boys don't run barefoot in the street. -
Adding to the Uncertainty - Room for Debate
Now Greece is asking the Continent's leaders to wait for an elusive referendum. Will they?George Papandreou faced a rather simple stark choice. He could end the Greek involvement with the euro or he could bring down his government and end the euro. Greece will not accept deeper austerity.The civil society is falling apart from lack of income as things stand. -
A Greek Referendum Spells Trouble for the Euro - Room for Debate
Investors in euro zone bonds now know: when 'we the people' are asked to pay, they are likely to say no.Greece will end its involvement with the Euro. I do not expect the Euro to survive. -
Is China Facing a Health Care Crisis? - Room for Debate
Despite the government's effort to stimulate consumer spending, ordinary Chinese feel pressure to save money for medical expenses.China has a problem it is a growing problem but not a new one.There are not enough doctors and public health workers in China. -
Will Greece Destroy the Euro Zone? - Room for Debate
The collapse of the Papandreou government may undo European efforts to restructure debt and hold the union together.
Greece will not destroy the Euro zone.Germany has done that.We can probably blame Austria.http://en.wikipedia.org/wiki/Friedrich_von_Hayekhttp://en.wikipedia.org/wiki/Ludwig_von_Mises
Wednesday, November 2, 2011
@20:52, 11/02/11 4
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