Beware of Greeks bearing gifts

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
23/03/2010 16:03

http://moneymorning.com/2010/03/23/eurozone-greek-debt-bailout/

ismet

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
23/03/2010 16:34

I have always maintained that Greece should look to the IMF (and nobody else) to sort their problems out. After all Greece is a member of the IMF club and has deposited large amounts of money into the IMF fund. The IMF are far better placed to dictate how Greece should organise its finances and thus get it out of the mire. the EU on the other hand have been complacent about what has been going on with Greece's finances and I cannot for the life of me see how they are going to bail out Greece and bring it into line with the EU's fiscal policies.

The EU stinks and If it does look at bailing out Greece to 'save face' then beware, all they will be doing is treading water and it will come back to haunt them big time.

AJ

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
23/03/2010 19:02

AJ



As was pointed out by Gordon Brown and other leaders of non Eurozone EU countries this is a Eurozone problem and not one for the EU

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
23/03/2010 20:46

Stubs

So you think it is going to affect only those EU member countries that have adopted the Euro? Every member of the EU is going to suffer regardless.

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
23/03/2010 22:12

yeah,



any massive lending tends to push up interest rates and stunt economic growth



this was also the net result of er...german reunification which cost europe dear



ashamed to say I thought the euro was the best thing since sliced pumpernickel



the imf can lend at about 3%, whereas the eu states would need about 6% p.a.



but any imf rescue would be a severe setback for future confidence in the 'zone



andre

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
23/03/2010 22:46

Just my humble opinion but to save face and make all of this nonsense workable, suspend Greece's membership of the EU, let the IMF work their magic and once sorted Greece can then apply for lifting of suspension.

AJ

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
23/03/2010 23:08

the eu is not "interchangeable" with eurozone membership though most are,



and belong to nato as well...

although turkey is a founder of the alliance but south cyprus, ireland, are not

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
23/03/2010 23:55

andre mess 7 , thank god south cyprus isnt in nato , can you imagine what problems the alliance would have ?



andy

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
24/03/2010 00:45

AJ



It is widely recognised that the Euro is currently overvalued. The worst thing that can happen is the devaluation of the Euro which certainly would not affect those non Eurozone countries.



Please dont confuse the Eurozone and the EU they are not the same!

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
24/03/2010 08:58

Beware of Greeks - gifts or no gifts,

Geoff

Famagusta City