eurozone
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- maikel0
I think there is a little misconception on what is going on.
Germany has taken an abusive currency policy durin the last years, but if Greece 'opts out' from the Euro, the Greek people would have it really bad. A massive devaluation would mean that all the products valued at international value won't be affordable anymore.I am not talking about a hoodie with an expensive mobile as in UK, I am talking about companies unable to buy or update computers, or machinery... for example.
I've seen this in South America, and it is not very pretty.
If Germany, on the other hand, says fuck all... it is another kind of problem. They won't have who to expert they goods, and will lost in turism, as it will become as expensive as any of the nordic countries. The consequence of the Eurozone of losing German funds would probably mean a devaluation in real terms against other currencies, and probably increased borrowing cost.
My proposed solution is to include China in the Eurozone... but I doubt they would be interested...
- abusive or protective?coldarchon
- abusive: they intentionally kept pseudo-devaluated curreny in terms of their real economy boost the exports...maikel
- no new 'rich countries' as Greece. Bear in mind the Greeks found themselves with an extremely strong currency...maikel
- that was out of touch with their economy from the go.maikel
- +++++++_niko
- goldieboy0
If Greece goes down, we all go down too... €, £ and $.
China will just sit back, politely waving from a distance, and have easy pickings when the wests economy is screwed. Time to learn some Mandarin...
- goldieboy0
This might help:
"Greek Prime Minister George Papandreou is expected to offer his resignation"
- ********0
"time to learn some Mandarin"
Hey, 1996 is calling, they want their silly prediction back.
- hahaha, take it with a pinch of salt ThePublics.goldieboy
- ********0
BUNGA BUNGA
- ukit20
A day after Prime Minister Silvio Berlusconi offered his resignation in the face of rising global market skepticism, investors revolted Wednesday, suggesting they do not believe that even a new leadership could fix Italy’s intransigent financial problems and revive its economy.
Italian bond rates crossed a crucial level of 7 percent, prompting questions about whether Italy could soon need an international bailout just as the financially strapped nations of Greece, Ireland and Portugal did before it.
“This is a new phase of the crisis,” said Nicolas Veron, a senior fellow at Bruegel, a research organization in Brussels. “This is uncharted territory.”
In a worst-case situation, Italy might possibly be even forced to abandon the euro. The departure of a nation the size of Italy from the single currency would potentially have far more devastating effects on the euro area than that of a small country like Greece.
- Looks like you may be losing that fffound invite Georges...ukit2
- graham0
Hey world, can we just reset everyone to £0 €0 $0?
- ernexbcn0
WE'RE ALL GONNA DIE A HUNDRED TIMES.
- clearThoughts0
Sounds kind of right now
"Money, so they say. Is the root of all evil today. But if you ask for a raise .."
