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 Post subject: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 12:03 pm 
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ok...so i hear that Greece is going to form up a new government ....so how effective will this be? Greece's exit from the euro zone sounds attractive and i think is a positive stride for the greeks - as it lets greece be greece :)

Nevertheless, Greece's exit could be fatal for the euro zone, don't you think?

Post your views on this - whether its a good idea for Greece, or a bad one in the long run. :)

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 12:10 pm 
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Well it would prob. be a good thing in the long run.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 12:13 pm 
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All debt-based economies are doomed to fail eventually. Knowing this, if you fully understand the Eurozone, as you called it, then you know its days are numbered just the same as the US dollar based economy.

The dollar would already be dead if it wasnt the standard trade currency globally.

But yes, eventually the poop will hit the fan for all of us. It will be interesting to see what Greece does now, since the fan has already been flinging poo all over in Greece. Perhaps we will all eventually be able to learn something about how they handle it.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 1:39 pm 
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Many european countries are printing their own curency atm and have been for months in preparation for the fall of the euro, I believe it will fall soon and when it does Germany and France will stick with all trade rights between each other and cause a split in europe, currently my country ireland is having a referendum to decide whether to follow the EU mandated austerity measures and if we vote no the EU has stated that we wont be welcome in the EU, that in itself may cause the EU to splinter but there is also spain which is in economic turmoil and not to mention britain which is back in recession. All in all its goodbye EU from the looks of it or just many years of harsh austerity for weaker members.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 1:46 pm 
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The damage has already been done. I think Greece will need atleast 25 to 30 years to get back on its feet, the way its gone down now.

Added to that the political changes are very very important. I heard Nazism is on the rise in Greece. Heard that this Nazi party called "The Golden Dawn" won about 7% votes in the parliament. Projections are that they will win 40% in the next elections. This situation in Greece wont get any better atleast in the next decade or so. And we all know Fascism rises when the chips are down. Hope the country doesnt sink low financially and morally.

Meanwhile I just hope the poop wont hit the fan in India. Today the Rupee fell big time. Because of capital flight from EU to US, which made the dollar stronger against the rupee. If we go down this path, we might face a balance of payments crisis if we dont do anything about it :? Like in 1990. Hope the useless govt gets its *CENSORED* together and does something.

And I am not sure, but lot of people dont like this EU crap. Anyone care to explain the complications in EU? Any Europeans here?

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 1:55 pm 
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The EU is slowly trying to gain more and more power over member states, for instance when ireland was in need of a bailout they tried to get us to raise our corperate tax which is at 10% and is one of the lowest if not the lowest in europe. France spearheaded this requirement for the bailout but we eventually got out of it but the EU sent their own appointed economists and finantial regulaters etc into ireland to decide our austerity measures, the referendum i mentioned in my previous post will give europe the power to control our budget, i am guessing greece is in the exact same situation but i am not positive. Nobody in ireland likes europe as they have taken more out of our nation than given, they have control of our bogs, our waters, our forests and soon our budget. There is a massive seperatist movement in ireland though it is kept quiet by our governments propaganda. Our government promised to discuss these problems with europe and renegotiate but lied and as soon as they entered power their pro-europe flags popped up out of nowhere. I agree with you mfreak this does smack of the great depression after the wall street crash and im sure we can expect many extremeist governments coming to power soon, also in reguards to india you should be financially stable enough as both you and china have good ties with each other and are currently expected to have a boom especially with the pipeline of oil being built from iran through china into india soon so expect cheaper oil prices anyway ;}~

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Last edited by darathmurrough on Wed May 16, 2012 2:00 pm, edited 1 time in total.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 1:59 pm 
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SoulReaperAsh wrote:
ok...so i hear that Greece is going to form up a new government ....so how effective will this be? Greece's exit from the euro zone sounds attractive and i think is a positive stride for the greeks - as it lets greece be greece :)

Nevertheless, Greece's exit could be fatal for the euro zone, don't you think?

Post your views on this - whether its a good idea for Greece, or a bad one in the long run. :)


Well if other countries follow greece then yeah but i dont see that happening.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 2:00 pm 
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Of course, the EU will control the budget. One of the conditions will be Austerity measures to be adopted in return for bailouts.

Oh regarding oil, the US is in a massive campaign in India. Hillary Clinton just visited India and kept pressuring us to stop imports from Iran. Though India refused. But with the rupee going down, our import bill will increase. India already has a trade deficit, a sovereign debt of about 50% or so. The oil pipeline is being built through Pakistan. But am not sure, how much the US will try to influence that. Though we did send a team out to Iran to improve trade ties last month.

But a good thing is Indians forex reserves are good. We do have to take some protectionist measures though.

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Last edited by mfreak on Wed May 16, 2012 2:04 pm, edited 1 time in total.

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 2:02 pm 
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Jake wrote:
SoulReaperAsh wrote:
ok...so i hear that Greece is going to form up a new government ....so how effective will this be? Greece's exit from the euro zone sounds attractive and i think is a positive stride for the greeks - as it lets greece be greece :)

Nevertheless, Greece's exit could be fatal for the euro zone, don't you think?

Post your views on this - whether its a good idea for Greece, or a bad one in the long run. :)


Well if other countries follow greece then yeah but i dont see that happening.


Europe isnt benefitting anyone atm except for the larger nations within it that have always benefitted, Germany is reluctant to pay any bailouts whatsoever even though they have benefitted the most out of europes existance so there will be a domino effect of one leaving



mfreak wrote:
Of course, the EU will control the budget. One of the conditions will be Austerity measures to be adopted in return for bailouts.


Which will just cause the people to blaim europe and spread seperatist ideals

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 Post subject: Re: GREECE bringing back the drachma?
PostPosted: Wed May 16, 2012 2:04 pm 
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Quote:
Which will just cause the people to blaim europe and spread seperatist ideals


Agree with that. You simply cannot let the people bear the brunt of bad government decisions and over spending.

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