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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (112597)	7/10/2015 8:53:20 AM
From: ggersh	2 Recommendations Recommended By Fiscally Conservative Mario :-) Read Replies (2) \| Respond to of 218308

So the EU is now officially the GU, German Union amazing that banks can accomplish, what an army couldn't

To: Elroy Jetson who wrote (112597)	7/13/2015 8:12:22 PM
From: THE ANT	Read Replies (1) \| Respond to of 218308

Come on Elroy, lets look at this.Germany and the EU almost took a 100% loss on Greek debt.Defaulting on their debt might leave Greece out of the Euro (might not also) but with no debt. Still, with a new currency and inflation those pensions and wages in Greece would take a nice haircut.My guess is that, with a major write down of Greek debt, Greece is willing to take the pain required by reforms to pensions and such as this pain was inevitable.Not only this, the hard line with Europe has allowed the Greek government to push through changes that could not have happened otherwise. Do you believe Greece is just going to knuckle under now and accept a greater depression? Europe has awoken to the problem that the Southern countries debt is not sustainable and I am sure relief is coming to more than Greece. The losers, Germany and Northern Europe, are being allowed to thump their chests and declare victory--you get at least something for a couple hundred billion dollars. Greece's former Finance Minister played a masterful game and this will become clear over time.Few will notice as the blind will be-----blind. Not all were born to be ants.