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To: Haim R. Branisteanu who wrote (72533)	2/15/2010 6:43:22 AM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

Greece Broke the Rules - James Turk kitco.com Greece broke the rules. The Greek government borrowed too much. It spent too much. Because it broke the rules, it is not worthy to be included in the eurozone. So Greece should be expelled. Doing so would re-affirm the reliability of the euro and indeed, make credible the promise of every European government before joining the eurozone that it would follow the rules. *** Expelling Greece from the eurozone in practice would be straightforward. Any euros in Greece should be re-named as drachmas. Henceforth, people would have drachmas in their bank accounts. All Greek debts would be owed in drachmas. This new drachma would immediately fall to a discount to the euro, with the consequent loss in relative purchasing power. Thus, the cost of solving the Greek problem would fall where it rightly belongs – on the Greek people who allowed their government to put the country into hock and the lenders to the Greek government who foolishly underestimated the risks. Fairness and justice require that the cost of Greece’s mistakes should not be put on the shoulders of the other EU members.