according to bloomberg which sited some survey / poll bloomberg.com "Polls show most Greeks object to the austerity required for aid, yet more than seven in 10 favor remaining in the euro, a survey last week of 1,009 people published in To Vima newspaper showed."
(i) i think the greeks out to choose as iceland did, namely default, and achieve zero-state reset by way of hyper fiat drachma inflation, because if they choose to stay with the debt, they would get zero-state reset in any case, just by diaper euro deflation, and later, get zero-state reset again by hyper fiat drachma inflation
might as well get it over with with one-pass default.
(ii) i think germany and france should choose to kick the greeks out even if the greeks should choose to promise fiscal discipline and remain with the euro, because the greeks would not deliver on promise
i agree with all of the statements bloomberg.com , and in particular what hu noted
"Australian Prime Minister Julia Gillard said yesterday Europe faces questions that “need to be answered and answered quickly,” while Chinese President Hu Jintao said the rot must be “prevented from spreading further.” Federal Reserve Chairman Ben S. Bernanke said in Washington that Europe is weighing on the U.S. recovery by fanning financial market volatility."
(iii) however, i fear the greek drama might just play for a bit longer
(iv) i have some very beautiful greek money, all date from before christ was born, and all pretty much retained their original purchasing power. the greeks obviously can manage their monetary affairs per track record :0)
(v) re little sheep 0968.hk Message 27736275 it is moving nicely against mkt trend |
