[Newsbot]

Title: Greece's moderate left says no government possible
Category: Business
Posted By: martin14
Date: 2012-05-14 07:09:30

[martin14]

this story goes with it:


http://www.bbc.co.uk/news/business-18056642
Shares fall in Europe on Greek political uncertainty


while Nero fiddles....



Unless you are invested in Europe long term, get out now.

My friends tell me the Greeks will argue themselves right out of the Euro.
Technically, they will have to leave the EU as well, but the technocrats
will find a way around that.

Short term chaos makes a buying opportunity .. next year.

[bootlegga]

What I don't understand is who the hell is still loaning the Greeks money to fund their profligate ways?

Surely other nations must have wised up and said, "No way in hell I'm giving you another cent!"

[Brenda]

That's the joy of the Euro zone. The EU and IMF keep pumping EU-members tax money into Greece, knowing no one will ever see a penny back.

[martin14]

bootlegga bootlegga:

What I don't understand is who the hell is still loaning the Greeks money to fund their profligate ways?

Surely other nations must have wised up and said, "No way in hell I'm giving you another cent!"

The eurozone members dont have much of a choice.

Government in Slovakia fell because of this, first vote was actually to refuse the money.
Ruling party had to make a deal with the opposition for early elections,
and then they had a second vote.

[BartSimpson]

The European socialists are going to end up disappointing their supporters when they find they can't keep up the old spending habits anymore. Like it or not austerity will be the rule of the day.

The question is will austerity be chosen and managed or will it be imposed, de facto, by inflation or by the refusal of solvent Eurozone countries to finance the good times for the insolvent countries?

[ShepherdsDog]

Ask the Chinese.

[andyt]

$1:

This time, however, EU leaders - who have bailed out debt-stricken Greece twice only to see it fail to pass reforms - have responded more coolly to the idea of a Greek default.
Emboldened by a reinforced financial firewall to protect weak euro zone states, and by an injection of cheap money to banks from the European Central Bank, EU leaders have broken a taboo by openly discussing the possibility of Greece leaving the euro zone, stressing it is a choice for Greeks to make.
"We wish Greece will remain in the euro and we hope Greece will remain in the euro ... but it must respect its commitments," European Commission spokeswoman Pia Ahrenkilde Hansen told a regular news briefing.
"Greece has its future in its own hands and it is really up to Greece to see what the response should be."

About time.

[Thanos]

Hard to believe that a few short years ago some of the alleged experts were saying that the Euro was going to replace the US dollar as the world's primary currency. Ah well, just let this inherently foolish experiment come to an end sooner rather than later just so we can get the hard part over with that much faster.

[andyt]

It was a nice dream. Too bad.