Comments on: Greek actors seek divorce from reality

By: igiveup

igiveup — Thu, 16 Jun 2011 08:24:50 +0000

I’m tending to agree with SanPa. Money on the sidelines, waiting for the summer doldrums to play out, may need to stay there. Also, I would suggest that any US institutions without guns to their heads, that sold insurance against Greek default, richly deserve what they get.

By: SanPa

SanPa — Wed, 15 Jun 2011 22:31:18 +0000

A perfect storm is coalescing. The U.S. Congress has been playing chicken with the dollar and U.S. debt instruments at a time when the PIIGS are faltering and China’s economy is weakening. Seems like the stuff of a catastrophic global financial meltdown.

By: Eric93

Eric93 — Wed, 15 Jun 2011 21:03:21 +0000

Loaning more bailout money to Greece will only make the final collapse a larger one. Tiding them over in the short run does not result in Greece surviving as it is in the long run since the size of the debt at the current interest rates is unsustainable. There isn’t enough income to pay the interest let alone the actual debt. They have to default and restructure at 50%. The only way to do this is for Greece to leave the Euro and return to the Drachma. Then it can devalue by 50% and print ‘funny money’ just as the big-boys (ie the US and UK) do. Continuing to play the ‘bailout’ game will only postpone the inevitable.

By: G_Hiotis

G_Hiotis — Wed, 15 Jun 2011 17:20:15 +0000

Never worry, never fear! Robin Hood will soon be here.

By: pavlaki

pavlaki — Wed, 15 Jun 2011 12:24:50 +0000

The ECB needs to think ‘outside the box’ and decide what sort of Eurozone it wants in future. A weak unstable zone that includes Greece, Ireland, Portugal and others or a stable Eurozone that can put today’s troubles behind it and concentrate on closer fiscal and political integration? Big decisions are needed now. They should include the removal of the PIIGS ( or Germany and the stronger nations to Eurozone mark 11 )with all of the trauma that it will involve. This will involve massive upheaval in the short term but that is better than long term paralysis. It isn’t working now and it will not work in future under the current structure. The pain we suffer now will go on and on.