Greek Exit Yes or No

Oldschool · Post by **Oldschool** » February 19th, 2015, 3:30 pm

Is it time for the Euro Zone countries of the EU to cut their losses and effectively stop funding Greek extravagance (ie not living within their means and paying their debts.)

Peg Leg · Post by **Peg Leg** » February 19th, 2015, 4:00 pm

Oldschool wrote:Is it time for the Euro Zone countries of the EU to cut their losses and effectively stop funding Greek extravagance (ie not living within their means and paying their debts.)

Would you do the same to us?

Logorrhea · Post by **Logorrhea** » February 19th, 2015, 4:20 pm

I dont know what a tracker mortgage is.

johng · Post by **johng** » February 19th, 2015, 4:21 pm

Logorrhea wrote:I dont know what a tracker mortgage is.

If you admitted to having one you would be savaged on here.

Peg Leg · Post by **Peg Leg** » February 19th, 2015, 4:23 pm

Smug tracker holding b$&%@#ds..... What did you do with my money today?

johng · Post by **johng** » February 19th, 2015, 4:28 pm

The Anathemata · Post by **The Anathemata** » February 19th, 2015, 5:40 pm

The Greeks clearly want to go all in, despite the fact that the Germans know they have a dud hand. A Grexit would destroy their economy in the short-term, which would only recover in the med/long had they something more than tourism and olive oil to export.

The Germans are clearly weighing up the moral hazard of having the Greeks leave, against caving to their demands. They obviously play a pretty good poker face, but seem generally willing to let the Greeks leave and then firewall.

Oldschool · Post by **Oldschool** » February 19th, 2015, 6:31 pm

Peg Leg wrote:
Oldschool wrote:Is it time for the Euro Zone countries of the EU to cut their losses and effectively stop funding Greek extravagance (ie not living within their means and paying their debts.)
Would you do the same to us?

Greece should never have been allowed join the Euro Zone. Two wrongs don't make a right so what I'm really asking is which of the answers above is the wrong answer.
The real issue for Greece and anyone else who got a bailout was the interest rate applied to the bailout money.
Austerity was always going to be a feature of any bailout.
However the level of austerity was made much worse by the aforementioned interest rate.

Babbling 'brook

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