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Well Ireland is first world and there are plenty of economic refugees coming from there. They are allowed to work for 6 months for one employor just with a working tourist visa so very easy for them to come here, and they are in droves.

I am far more optimistic than that on the USA. 1. Their debts are priced especially government debt exclusively in US dollars. IF you look at countries that have suffered hyperinflation when paying off debts they are using their own currency to pay off a debt in another currency. Look at...

The trouble is many come across as wanting it to happen when they are only suggesting what might happen. For me I would prefer them to remain the policeman over the world compared to the alternatives but can see this will not necessarily be the case in as few as 10 maybe 15 years... While...

wow. how was the old bloke saying that during one happy period greece was a lender not a borrower. When they were occupied by Germany! I would not agree with the premise though that the banks lending the money to greece are parasites, they were just trying to make a quid like we all do, but...

Don't worry I knew what you meant. ;) Greeces overall debt is higher than US because it has been running larger deficits over a decade. Its current account deficit is predominantly interest charges. This is the issue facing those in Greece arguing against default is that by defaulting...

I would expect Greece would not have access to credit again and default too will be painfull for similar reasons, from the point of default forward they must rely on their own outputs in trade not credit, but at least not have an interest bill. Trouble for a government considering this is that...

1. If they don't pay unlike my rights as an individual where I cannot be forced to pay and can declare bankruptcy for country debt they all go to debtors prison? What is the means of forcing payment, invasion? An investment in a countries bond is faith in the soveriegn to be able to pay back due...

But who is responsible for loaning them the loans that clearly collectively they will never pay back. If you were in Greece why would you stand for that. Why would you stand for paying back 20bn in interest payments and just 5bn of the principle every year when instead you could default...

I think the creditors including the German government have as much to learn from this. Remember if you lend money to someone you are the one taking the risk as much as they are. If you gave 100,000.00 to a metho drinker on the street and then find he cannot pay it back you have no one else to...

Good point, it was too. It is hard to know for certain but possibly I would. When you know your government is pandering to the powerful vested interests like banks and foreign powers rather than the majority of Greeks, sometimes people have to take things into their own hands and show...

They do have another option. They are upset because they are going into austerity mode to pay back debt racked up over the last couple of decades. They could alternately default on their debt. They would then have no access to credit but they would not have the massive interest burden...