4-Jan-15 World View -- Far left Greece election victory

Discussion of Web Log and Analysis topics from the Generational Dynamics web site.
John
Posts: 11479
Joined: Sat Sep 20, 2008 12:10 pm
Location: Cambridge, MA USA
Contact:

4-Jan-15 World View -- Far left Greece election victory

Post by John »

4-Jan-15 World View -- Far left Greece election victory may trigger confrontation with Europe


Israel cuts payments to Palestinians in retaliation for ICC bid

** 4-Jan-15 World View -- Far left Greece election victory may trigger confrontation with Europe
** http://www.generationaldynamics.com/pg/ ... tm#e150104




Contents:
Far left Greece election victory may trigger confrontation with Europe
Villagers evacuated after gunfire exchange in Kashmir on India-Pakistan border
Israel cuts payments to Palestinians in retaliation for ICC bid


Keys:
Generational Dynamics, Germany, Angela Merkel, Greece,
Syriza, Alexis Tspiras, European Central Bank,
Pakistan, India, Kashmir, Jammu, Line of Control,
Israel, Palestinian Authority, Mahmoud Abbas,
International Criminal Court, ICC, Benjamin Netanyahu

Guest

Re: 4-Jan-15 World View -- Far left Greece election victory

Post by Guest »

Wouldn't Greece be better off in the long run with the drachma? How will keeping the Euro benefit them now?

John
Posts: 11479
Joined: Sat Sep 20, 2008 12:10 pm
Location: Cambridge, MA USA
Contact:

Re: 4-Jan-15 World View -- Far left Greece election victory

Post by John »

Guest wrote: > Wouldn't Greece be better off in the long run with the drachma?
> How will keeping the Euro benefit them now?

1. They wouldn't be able to sell bonds to borrow money or, at least,
they'd have to pay unsustainable interest rates, perhaps 20% or more.

2. The value of the drachma would plunge relative to the euro,
resulting in hyperinflation.

3. Since most Greek debts are denominated in the euro, it would be
impossible to pay them off with the devaluated drachma.

4. The entire economy would be much worse off than it is now.

Tspiras is living in a fantasy world.

gerald
Posts: 1681
Joined: Sat May 02, 2009 10:34 pm

Re: 4-Jan-15 World View -- Far left Greece election victory

Post by gerald »

John wrote:
Guest wrote: > Wouldn't Greece be better off in the long run with the drachma?
> How will keeping the Euro benefit them now?

1. They wouldn't be able to sell bonds to borrow money or, at least,
they'd have to pay unsustainable interest rates, perhaps 20% or more.

2. The value of the drachma would plunge relative to the euro,
resulting in hyperinflation.

3. Since most Greek debts are denominated in the euro, it would be
impossible to pay them off with the devaluated drachma.

4. The entire economy would be much worse off than it is now.

Tspiras is living in a fantasy world.
You think reality is relevant? --- just look at history.

Post Reply

Who is online

Users browsing this forum: No registered users and 62 guests