Would it be better if they reverted back to their own currency, what chance have they got to recover with the Euro.
If they had their own currency, when it devalued they would have more exports and more investments, which would help their economy.
Having debt problems in the euro market, makes the euro devalue across all countries using the monetary value, therefore you are still having to compete on the same level as other countries, so how are you expected to reduce your debt.
If they went back to the drachma, at what rate would you exchange at? The same as when they went in? Not sure that's really viable but probably the only way.
Show me just what Muhammad brought that was new and there you will find things only evil and inhuman
Chances are that due to inflationary pressures, the Drachma would be exchanged at a ludicrous rate. The rate was quite favorable before Greece took on the Euro, so this time I guess it would be much higher.
The good news is that by the looks of things Greeks want a Communist Government! Go KKE, let's establish Communist Greece!
Down with Griffin
I don't see any other solution, than to revert back, it worked better that way, if the euro monetary system was so good this would not have happened.
Consider this, Brussels states, Greece has to make huge sacrifices to pay of their debt, but Brussels is making none, that says it all, we are all paying into a system that is to expensive to be in, and who suffers, the ordinary people.
Revert back, take control of your money, if you need to make sacrifices, then it's easier to make sacrifices for the love of your country, than to make sacrifices for Brussels.
I worked in a franchise, they had a tight hold on the companies, many companies folded due to pressures they were put under, and we were terminated before block exemption (EU regulation) came into force, so that compensation would not have to be paid.
For the first time for years, the owner was in control of his own company, it prospered, we did better out of the franchise than in, without the rules and regulations to get the rewards, which were crippling the company.
We started to import from Holland, everything was going great, then the goal posts changed, we started to import from Southern Ireland, great again, the goal posts were changed.
So what happened, the EU rules and regulations, changed the system, so that it was no longer profitable to import the goods.
Hungary and Austria have made a stand, no GM crops, they are taking control of their own country, and they know it will benefit them in the long run.
Greece has a major problem, they know they will be in debt forever, they need to revert back and take control.
With any luck [and it might not need too much] the euro will fail and all of the euro nations will return to their former currency. This should then put pressure on the EU itself as a political union.
This would then remove the need for eurosceptic parties - that would be a relief as there doesn't seem to be any real future for any of them.
The Greeks should stay in the Euro, and the Bosche and French should be made to bail them out. Then when the Spanish, Portugese, and the Italian / Irish economies go T.U. the Bosche and French should be made to bail these out too. And so on, until all the economies of Eurodisneyland have been levelled back into the stone age and are absolutely and terminally bankrupt beyond all possibility of recovery.
Smouldering ruins.
Britain Out of Europe Now !
The Greeks should come out, they should be helped to come out, then the other countries should follow. We need to listen to the ordinary people, that's important.
We don't need this escalating, the recovery rate if there was one would take years, we need to get this under control so the people are happy, otherwise we are starting a war amongst ourselves.
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