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The situation of Greece

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#1
thesilentpriest

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You all heard on the news about the situation of Greece in the Euro Zone.

The European Union tries to keep Greece as a member of the Euro, but as longer as it takes the more doubts are comming of this is stil possible.

As a Business Administration and strategic management student this isn't really my expertise but it is very interesting for me.

I like to hear opinions about this matter since it could affect all of us and not only the European Union.


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#2
*=FeluCiuS=*

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Fact is that the european union can't "throw out" Greece. Because Greece is a Euro member and has signed a contract which forbids the kick.
It would be very bad - for Greece and the european union - If greece leaving the euro zone. Because both would lose confidence.
If greece get back to their old currency, they can never pay Back their owe.
My Opinion is:
Greece and the european union must find a new way. Is there no way, Greece go bankrupt.

Felu. (excuse my bad english ;))

#3
thesilentpriest

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Fact is that the european union can't "throw out" Greece. Because Greece is a Euro member and has signed a contract which forbids the kick.
It would be very bad - for Greece and the european union - If greece leaving the euro zone. Because both would lose confidence.
If greece get back to their old currency, they can never pay Back their owe.
My Opinion is:
Greece and the european union must find a new way. Is there no way, Greece go bankrupt.

Felu. (excuse my bad english ;))


Yes, but then the European union has to change in a fundamental way.
They need to have more jurisdiction, going to a single country with multiple states(Like the USA) to save Greece.

One thing is clear, this way they not going to save Greece and the Euro.

#4
*=FeluCiuS=*

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Yes, but then the European union has to change in a fundamental way.
They need to have more jurisdiction, going to a single country with multiple states(Like the USA) to save Greece.

One thing is clear, this way they not going to save Greece and the Euro.


you are right, i also think whats going on when Greece go bankrupt ?
they must find another way, as it is now, it's not good for the whole World. This crisis is bad for the whole world.

Felu (excuse my bad english again ;))

#5
Rabidraccoon

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The EU needed to have tighter controls in place before allowing members in. And exit clauses if a member does not follow the rules. A simple way of looking at is like 4 friends sharing a credit card. Everything is good as long as everyone pays for their purchases. Now how about if one guy says "I'll pay next month, I need a new HD TV today." Ok for the one month. Next month he says "I need a break, going to Mexico, I'll charge it". Oh and the month after that he uses the card to pay for a student loan he is behind on. That's Greece. The EU should have done their checks and saw that they were in trouble. Now, if there was a clause in their agreement that said, "here is your debt transferred to you own card". The other 3 friends continue on.

The larger issue is this. As the EU reigns in their debt, they will consume less. The holders of their debt will scale back spending in case debts are defaulted on. So everyone gets in a self-preservation mode and scales back, just in case. No one is going to say, "hey, all the economies are in trouble let's spend spend spend." That leads to an economic slow down world wide. The slow down means no one is willing to front money to cover more debts for the countries in trouble. More scaling back. The cycle continues until the entire world is in depression.

The solution is to the manufacturing sector in all countries going again. Some big common event to get everyone working. World wars always helped. But maybe a push for "Green" technologies would work as well.

Slow process with a few years to go to see how it pans out.

Edited by Rabidraccoon, 27 July 2012 - 08:58 AM.


#6
kouklos

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GREECE'S DEBT IS NOT REAL

They are trying to force the debt to Greece in order to exploit the mineral deposits and to take advantage of the sun as a source energy for the countries that need it.

in order to achieve that, they needed traitors – politicians, and unfortunately, they found many…HERE IN GREECE

if you really care for the truth please take a look at those videos.....





ps:Greece don’t owe anything to anyone, on the contrary, the world owe a lot to greece




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