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  1. Belbo

    Possibility of a Greek default in next week

    What you personally do is not the point. It's what your country does. And it does exactly that.
  2. Belbo

    Possibility of a Greek default in next week

    No, it was in the time of Pericles, around 2500 years ago actually. But the cultural significance of democracy is not something I would ever possibly expect you of all people to fathom: It's not something you can attach a dollar sign to.
  3. Belbo

    Possibility of a Greek default in next week

    There’s nothing written in stone to say Greece can’t drop out of the euro, of course. The pivotal question today though is: Can the other euro members permit themselves to let Greece depart? The answer to that I think is ‘No’. A Greek departure now would almost certainly forever poison...
  4. Belbo

    Possibility of a Greek default in next week

    True, of course. But this 'notion' of ejecting Germany sharply clarifies the problem, and I think, the stark alternative facing Europe - Whether Greece stays in euro club is not up to the Greeks (as those planning its expulsion are advertising): It's entirely up to the French. If France...
  5. Belbo

    Possibility of a Greek default in next week

    Here's an idea - Kick Germany out of the euro! Problem solved, ja? germany_should_quit_the_euro
  6. Belbo

    Possibility of a Greek default in next week

    That's what people were saying back in 1956 with the coal agreement that started the whole unification thing off. But what we forget here is how haunting the memory of WWII is throughout Europe. It wasn't just any war, and its horror will never truly go away until Europe becomes one country...
  7. Belbo

    Possibility of a Greek default in next week

    Look at it another way, MM. If people have no jobs and no money, they can't buy stuff. If this happens to enough people across the region, the economy of Europe will shut down, and the rest of the developed world will very likely follow. So, while it would be foolish to not make people...
  8. Belbo

    Possibility of a Greek default in next week

    Talk about timing! The domestic foundations of Germany's austerity stand have just taken what looks like a major blow right on the eve of Merkel's first meeting with Hollande (who I understand she's refused point blank to meet in person before). Read more...
  9. Belbo

    Possibility of a Greek default in next week

    Hi Graemsay, Your perspective is most interesting. Australians seem almost entirely fixated by the economic fallout risk from Europe. But your posts keep alluding to the political risks too - the crumbling of French defacto regional leadership; the British rightwing media's delight at the...
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