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Just make the Germans pay off the Greek debt with the forgiven debts from WW1/2 and everyones happy with money left over
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Jul 16, 2015 13:01
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| # ¿ Apr 28, 2024 05:57 |
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natetimm posted:Even if they forgave the debt, wouldn't the Greek economy still be in its unmanageable state pre-loans? Has anything changed to stop them flushing themselves down the toilet if the debt was removed? Well one of the problems that Greece has is that it's not really super competitive when it comes to manufacturing, technology, or agricultural production. It's not true to say that they don't have any of those industries period, but in terms of global competition they don't really beat out any of the competition in markets which aren't basically automatically theirs (certain foods are only allowed to be called such if they come from Greece, tourism, etc). I can't recall the last time I saw a Greek-produced product that wasn't in the dairy aisle of a supermarket. Being in a single currency with Germany is also a large problem. There's effectively no way Greece can even hope to achieve fiscal parity with Germany even without the albatross of enormous sanctions. Greece will probably eventually leave the Euro if its members don't decide that keeping it in is worth the long term subsidy it will cost (which it might, geographically it's in a really bad place for a possible failed state) Sekenr posted:Because Greece wasn't ravaged by war and carpet bombed into oblivion. Their economy is not tuned to do anything other than borrow and spend and they throw a fit when asked to change anything. Other thing - it sets a bad precedent, why should say Slovakia bother balancing their economy if they can just kick back, relax and than wail about European solidarity when money runs out? You might as well say that forgiving Germany's debt would be an incentive to other countries to rely on belligerence as a way to shed debt (and one of Germany's reasons for electing Hitler and starting the war was their crippling WW1 debt) A Stupid Baby fucked around with this message at 09:31 on Jul 17, 2015 |
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Jul 17, 2015 09:29
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