Comments on: Greece should default and reschedule http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: snowspring http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29124 Wed, 24 Feb 2010 13:14:28 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29124 I think all the bailing-out solution senario will be concerned with the profit.if EU can’t give their hands.the investbank will came out to creat some new tools to help them.and the asian financial crisis is hard to happen again.As it is Euro-zone not the Thailand or some small countries which are quite easier to be attacked by the hot money.if such expectations exists the IB will try their best to get a share of profit from the behavior of helping GReece.

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By: DimitrisUK http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29054 Sat, 20 Feb 2010 04:54:03 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29054 Greece is one of the largest weapons buyers in the world today, having armed forces that absorb disproportionately large amounts of resources, due to the known problems on the turkish border and the turkish aggression (real or perceived). These weapons are mostly bought from the US, UK, Germany and France, supporting their own economies. So, in a sense, Greece has been bailing out all these countries for very long. Similarly, most greek imports come from the same countries, especially for high-tech products. If Greece is forced to abruptly reduced its spending, these would be among the first to go, causing a severe blow to the economies of the countries involved. Therefore, assisting Greece would be a step towards financial stability and recovery in many richer nations. On the other hand, crippling the greek ability to import would mean that many other coffers would become emptier.

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By: Alex_Pgreece http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29026 Thu, 18 Feb 2010 09:58:02 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29026 In response to Localmichael:

Yes, France needs to pay its fair share…well said, but Germany had to, too. Like I mentioned before, there’s still a debt pertaining to WWII, so this is not a matter of bailing Greece out…is all about justice…

As far as NATO is concerned, I don’t think that things are as innocent as they appear to be. Why do the turks violate our airspace every once so often. Do you know the cost incurring to Greece each time we have to watch our borders??? The European borders? And I think the Americans are right in the middle of this..

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By: YiannisG http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29022 Wed, 17 Feb 2010 12:50:54 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29022 Much more needs to be done “If market discipline is ever to be re-established”. Recommending Greece to be allowed to default while western governments are bailing out companies; inflating their debt and charging it back to the people, is as good as saying that the Lehman default has saved capitalism. I’m sorry, I’m no expert, but I find the article shallow to say the least.

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By: localmichael http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29020 Wed, 17 Feb 2010 09:27:55 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29020 As AlexZ83 stated, Greece was a cash guzzler throughout the cold war, not only giving freebees to its government employees but also trying to catch up with Turkish arms purchases. The Turks were trying to get strong enough against their neighbors on the east, namely Soviet Union; while the Greeks were scared that the Turks would attack them. The Turks were buying their arms from the US and Germany, while the Greeks were making payments to the French arms manufacturers, subsidizing them more than the French government. Therefore it should be France, rather than Germany that should pick up the bill now. The trouble is that the French government debt is almost 100% of GDP, which itself is also ringing the alarm bells.

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By: AlexZ83 http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29014 Wed, 17 Feb 2010 05:36:05 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29014 The 3% budget deficit constraint that every member country of the Euro-zone has to abide by was not set yesterday – it was set back in 1999 when the Euro-zone was created and it was the prime condition to be satisfied for any country that wanted to become a member of the Euro-zone. With all the data coming out into the light, it is clear that Greece never met that precondition. They were able to “mask” the true state of their finances by securing deals from Goldman and others. Those deals were made on Greece’s own request and not the other way around. Greece cheated their way into the Euro-zone and now have the whole system held hostage to the crisis caused by their lavish government spending. Greece is perennially one of the biggest arms buyers in the world spending several tens of billions on various expensive weapons systems, while being a NATO member since 1949 with continuous NATO and US presence on its soil throughout the cold war. They were locked in decades-long arms race with – Turkey of all countries, another NATO member. Correct me if I am wrong, but to me personally seems totally impossible that two NATO members would ever be engaged in a war against each other. NATO is supposed to be a collective security system. The Greeks are plagued by an irrational mentality which is the only explanation on how they managed to amass a national debt of 170% their GDP. Now that the chickens have come home to roost, Greece wants a bailout. I don’t think it’s gonna happen. There is no way they are going to persuade anybody inside EU to land them money, specially since now everyone knows how they became a member of the Euro-zone in the first place. They are headed for a default and a major restructuring of not only their economy, but their elitist mentality as well.

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By: Fairgames http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29005 Wed, 17 Feb 2010 00:54:32 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29005 The key is the Asian government for example like Thailand and Indonesia, after taking the “bitter pill”, have since recovered well! The basics is really you don’t expect to spend your future earning and expect someone to come to your rescue without costs?

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By: vinman1 http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29004 Wed, 17 Feb 2010 00:35:08 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29004 Εθνική Υπηρεσία Πληροφοριών … thanks… short the olives…season is bad…very bad

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By: vinman1 http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-29002 Wed, 17 Feb 2010 00:28:25 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-29002 Greece should just default. Declare it now. So shall it be written so shall it be done.

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By: Fairgames http://blogs.reuters.com/great-debate/2010/02/15/greece-should-default-and-reschedule/#comment-28997 Tue, 16 Feb 2010 23:07:44 +0000 http://blogs.reuters.com/great-debate/?p=6549#comment-28997 Everyone seems to have forgotten the Asian Financial Crisis! At that time, the Asian government were told by the gurus, IMF and World Bank to take the “bitter pill” and to bear the burns. What happen to those thoughts now? Isn’t the Greece and some other government facing the same situation as those by the Asian government back in 1997?

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