Currency Valuation

Out of context: Reply #3

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  • 20020

    How could Greece and other countries borrow so much with virtually no stable or growth economies and devalue Euro?

    Example, you are in a family and there are 5 members. 2 of them have great jobs, great credit and large amount saved up. Because there are few good member financially, you can borrow and get credit based on their credit rating as a member of the family. And it doesnt matter if you have a job, money or any collateral.

    Greece being part of the Euro utilized credit rating of Germany / France and borrowed against that.

    • Correct me if I'm wrong, but doesn't it have to do with what the country as a whole "accomplishes?"monospaced
    • They don't produce much, there isn't a big industry, there's limited exports and an overall lazy culturemonospaced
    • sounds like people who got mortgages when couldnt afford it?2002

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