Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (567492)	5/21/2010 8:19:22 PM
From: tejek	1 Recommendation Read Replies (2) \| Respond to of 1574483

Ted, > Because S. Europe has been buying a lot of its products the last ten years. What does that have to do with the benefits vs. the drawbacks of the Euro? In the Eurozone these days, everything is priced in Euros. Before Greece joined the EU, their currency was the drachma. The drachma wasn't worth sht. I don't know what the exchange rate was but it took a lot of drachmas to equal a Deutschmark. However, using smoke and mirrors, a kind of parity was reached when the drachma and the Deutschmark were folded into the euro. For the first time, Greeks were paid in euros.....the same currency that the Germans used to sell their cars. That made it possible for Greeks to buy Mercedes. Sure, having the Euro is a boon for commerce between the European nations. The question, however, is how much that boon is worth propping up with bailouts.* A lot.....how much is CA worth to the rest of the US? Forget CA, too easy........how about Montana? If MT got into fiscal trouble, do you think we would jettison the state? Not likely. Why not? Cause you know if Greece figures out they can rely on bailouts, they will have no incentive to shape up their own act. The terms for Greece's bailout are very rigorous. Due to those terms and its debt, the Greek economy is not expected to grow again until 2017. That means Greece with be in a semi recessionary state for the next 7 years. The salaries on nearly every job has been given haircuts. Why do you think the Greeks are rioting? Their leaders will continue to lie about their finances, and the voters will continue to demand services that they frankly can't afford. And that can tank the Euro, even if Greece only represents a very small portion of the Euro-zone's GDP. The EU is in the process of changing the rules. As for the Greeks, they are taking a lot of sht from the rest of the world. They are complaining but they know they've made their bed and now they must lie in it. By the way, being on the Euro is not a requirement for owning BMWs. Unless for some odd reason you paid for yours using Euros ...* LOL. I paid in dollars.