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Greek unrest on the rise as crunch time approaches. If the country defaults on its debt payments, bankruptcy beckons with all the attendant consequences. Yet rather than knuckle down to a liberal dose of austerity, folk are taking to the streets and going on strike which will presumably make matters worse......or have I got it wrong? I mean, what would happen if Greece left the EU?
http://www.bbc.co.uk/news/world-europe-16987644
They would stay in the EU but be out o fthe Euro. But in reality little would change - the banks would still be owes money and throw them into chaos and it is that that is the problem for the rest of the world.
But a rarely discussed effect would be what about all the Greek Euros in circulation? Each country prints its own money and each coin/note has on it an identifier that shows where it was minted. No-one knows whether, if Greece leaves the EU, these become worthless currency.
Inflation at record levels - a currency that no one wants to know, so they have to trade in US dollars - this makes matters worse, especially in the short term
Hey ho - the EU let them in and constantly funded them - is it really there fault
The answer is NO
All to do with this dream of a unified Europe, by certain people, who seem to hold a great deal of power
Thank god we renegade against certain resolutions
The eventual likely outcome is that Greece will leave the Euro and will then have to have its own currency. This will then be at the mercy of exchange rate fluctuation which is how countries individual economics ruled before the Euro - and which is actually better than the present system of trying to bail out all failing countries in the Euro.
Quote: Are they trustworthy, or does history tell us otherwise?
Beware Greeks bearing gifts.................. 
Quote: Germany tried to take over Europe twice and failed. Now they have managed to do it without firing a single shot..3rd time lucky..
Interesting analogy. Germany, often considered 'the powerhouse of Europe', finding itself in the driving seat insofar as return to economic growth's concerned. And it's typical of the Germans that this should be the case. Discipline, engineering excellence and a realist mindset - all the things the Greeks haven't got and likely never will -
http://www.bbc.co.uk/news/world-europe-16834815
Quote: Greek unrest on the rise as crunch time approaches. If the country defaults on its debt payments, bankruptcy beckons with all the attendant consequences.
I kind of thing the best thing for Greece would be to default, historically it doesn't seem to be that bad in the long tem.
Though the consequences for the Euro zone might not be so good.
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