Friday, May 06, 2011

Greece OUT of the Euro ?

Guardian: Reports on a rumour coming out of Germany that Athens wants to leave the Euro. This would for the Greeks be the best thing, they should default on their debts and start again, develop a new currency and a lose relationship with the EU. The debt problems of Portugal, Ireland, Greece and Spain could wreck the Euro and take down the EU. It time to clean house, default on the Sovereign Debt and give tax concessions to those that are hurt, or future bonds, but stop the economic blood going out of the PIGS. The Markets should force this if these Government are to weak, the cost for borrowing by these countries should be set so high that the PIGS can not afford to borrow, this would force reform within these countries. It times to take the PIGS to market and get some good bacon, before the bacon goes rotten.

No comments: