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Post by vinny on Jul 4, 2024 8:29:01 GMT
Greece needed to leave the Euro and the EU bullied them.
Greece was bankrupt and the EU had them over a barrel, if they'd left the EU they'd have left with no FTAs and had to begin from scratch and would have been punished by the EU again and staying meant being fucked over to a lesser extent.
Their debt to GDP is still double their GDP and they cannot devalue their currency to mitigate against that.
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Steve
Hero Protagonist
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Post by Steve on Jul 4, 2024 9:11:51 GMT
BS. The EU rescued Greece from its self created mess
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Post by vinny on Jul 4, 2024 9:16:33 GMT
They're still in huge debt, rescued you say?
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Steve
Hero Protagonist
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Post by Steve on Jul 4, 2024 11:26:06 GMT
Yes. They were on the fast track to total default leaving pensions, teachers, police unpaid resulting in societal breakdown.
And look where they are now.
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Post by vinny on Jul 4, 2024 11:31:17 GMT
Yes. They were on the fast track to total default leaving pensions, teachers, police unpaid resulting in societal breakdown. And look where they are now. Their debt is double their GDP and rising. Nice work. |
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Steve
Hero Protagonist
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Post by Steve on Jul 4, 2024 12:56:18 GMT
Yes. They were on the fast track to total default leaving pensions, teachers, police unpaid resulting in societal breakdown. And look where they are now. Their debt is double their GDP and rising. Nice work. They still have a society, unemployment is more than halved and contrary to your false figure their debt is 162% AND reducing (like ours it went up with Covid) That you feel the need to position false stories says so much about how embarassed you are about how Brexit has turned out and how we got here. |
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Post by vinny on Jul 4, 2024 13:03:58 GMT
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Post by Zany on Jul 4, 2024 14:21:41 GMT
Greece needed to leave the Euro and the EU bullied them. Greece was bankrupt and the EU had them over a barrel, if they'd left the EU they'd have left with no FTAs and had to begin from scratch and would have been punished by the EU again and staying meant being fucked over to a lesser extent. Their debt to GDP is still double their GDP and they cannot devalue their currency to mitigate against that. What was you're solution Vinny? That the EU refuse to help Greece in the first place and leave them to their creditors? Ends up like Argentina That the EU take them in restructure heir loans at a far better rate to lower there payments, but insist on good house keeping. That the EU take them in restructure heir loans at a far better rate to lower there payments, then let them borrow loads more and leave without paying? Other? |
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Post by vinny on Jul 4, 2024 14:40:08 GMT
My solution? It would have been Greece out of the Euro, back on the Drachma, immediate devaluation, taxation and Greece living within its means from then onwards, but not out of the EU because it couldn't afford to at the time.
The problem with the EU and their attitude, is that unless there is a law for something its illegal.
Therefore they had the idea that Greece couldn't leave the Euro without leaving the EU.
Where in the treaties does it say you can't do just that?
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Post by Zany on Jul 4, 2024 15:16:33 GMT
My solution? It would have been Greece out of the Euro, back on the Drachma, immediate devaluation, taxation and Greece living within its means from then onwards, but not out of the EU because it couldn't afford to at the time. The problem with the EU and their attitude, is that unless there is a law for something its illegal. Therefore they had the idea that Greece couldn't leave the Euro without leaving the EU. Where in the treaties does it say you can't do just that? And the EU writes off the short fall? And having got away with that what makes Greece live within its means? Greece had a left wing government with a Corbyn ,like leader, promising everything to everyone. |
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Post by vinny on Jul 4, 2024 15:42:42 GMT
No, the EU does not write off the shortfall.
But a country incompatible with the Euro ceases to be a problem for the Eurozone, and the effect of debt causes it to live within its means whilst paying back at a rate it can afford.
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Post by Zany on Jul 4, 2024 16:41:08 GMT
No, the EU does not write off the shortfall. But a country incompatible with the Euro ceases to be a problem for the Eurozone, and the effect of debt causes it to live within its means whilst paying back at a rate it can afford. Sorry. How does that work? If Greece converts the Euro loan into Drachmas and then devalues the Drachma the EU losses a load of dosh. That's what Alexis Tsipras wanted to do. Not to mention Alexis Tsipras wanted to remain in the EU. Jean Claude Juncker said. "there can be no democratic choice against the European treaties. One cannot exit the euro without leaving the EU".
Greece wanted to stay in not the EU wanted Greece to stay in. |
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Post by vinny on Jul 4, 2024 16:49:18 GMT
Greece weren't given a vote on whether or not to leave the EU, so you don't know.
But they were bullied by the EU into accepting crippling debt repayments they couldn't afford.
They needed to be able to devalue, and repay their debts at a rate they could afford.
If the EU lost a whole load of dosh? It's the EU, it wastes dosh all over the place anyway.
From the Brussels Strasbourg merry go round to the CAP.
It's an absurdly run joke of an organisation which chose to give membership of the Euro to a country that was evidently incompatible with it.
Such is the price of incompetence.
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Steve
Hero Protagonist
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Post by Steve on Jul 4, 2024 18:36:23 GMT
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Post by Zany on Jul 4, 2024 19:37:26 GMT
Greece weren't given a vote on whether or not to leave the EU, so you don't know. But they were bullied by the EU into accepting crippling debt repayments they couldn't afford. They needed to be able to devalue, and repay their debts at a rate they could afford. If the EU lost a whole load of dosh? It's the EU, it wastes dosh all over the place anyway. From the Brussels Strasbourg merry go round to the CAP. It's an absurdly run joke of an organisation which chose to give membership of the Euro to a country that was evidently incompatible with it. Such is the price of incompetence. Their elected leader could have offered a vote, that's not down to the EU. All they said was that they couldn't stay in the EU whilst leaving the Euro. You keep moving the goal posts as you learn more. But none of what you say makes it the EU's fault. Tacking an insult on the end of your post adds nothing to the facts. |
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