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Re: EUEUEUEUEU now seizing Greece's gold reserves

Posted by AEM-7AC #901 on Fri Feb 24 20:26:43 2012, in response to Re: EUEUEUEUEU now seizing Greece's gold reserves, posted by Olog-hai on Fri Feb 24 19:28:04 2012.

but keep us down on our knees so we can keep paying them indefinitely

Sure, Greece can default and then try and cover their government budget without borrowing. We'll see how long that lasts when their banks are collapsing and their economy melts into that of a *real* third world country. FWIW, the real solution would have been for the EU to simply paper over Greece's debt payments with additional aid along with some budget cuts, but no elected government in the Eurozone would survive the scrutiny of seeing their tax dollars going to a somewhat corrupt Orthodox country on the periphery of the EU that perpetually overspent. Otherwise, the other solution is to put a gun to the head of the ECB and tell them to inflate, but the Germans have a massive distaste for inflation, something that I've seen first hand from my German friend.

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