Guardian Live - Euro: Reports that German Chancellor Merkel has stated that Greece will not get its 130 billion Euros bailout unless it agrees a haircut debt deal with its debt and bondholders. This could be a way out for Greece folks, the Greeks could just throw in the towel, default, then the EU would have to bailout Greece as it would not be able to get money from the markets, it could return to its native currency and reconstruct its economy, brining the Greeks in to the 21 Century. It would be hard, very had for the people, otherwise the Greeks are going to suffer for years, and for what, they will still be in debt and the only winners will be the bankers. Time to leave the Euro Greece.
Monday, January 09, 2012
Greece Bailout and the Eurozone
Guardian Live - Euro: Reports that German Chancellor Merkel has stated that Greece will not get its 130 billion Euros bailout unless it agrees a haircut debt deal with its debt and bondholders. This could be a way out for Greece folks, the Greeks could just throw in the towel, default, then the EU would have to bailout Greece as it would not be able to get money from the markets, it could return to its native currency and reconstruct its economy, brining the Greeks in to the 21 Century. It would be hard, very had for the people, otherwise the Greeks are going to suffer for years, and for what, they will still be in debt and the only winners will be the bankers. Time to leave the Euro Greece.
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