Greece: Teachers and police come to blows in Athens

[UnChosen]

Loans are not for free. Everybody outside of the kindergarden knows that but apparently some think they are a special snow flake.

If you want a morgage for your house for example, you pay! If you can't afford your morgage, you work more, you spend less. If you can't afford it, you get the feck out of the house you can't afford.

Same way, Greece shouldn't take loans it can't afford. Nobody is forcing them. They f-ed up their budget. Not Germans.

If Greece steps outside of eurozone, their living standards will go down to Romania's. Please go ahead. I'm not stopping Greeks.

"Get out of the house you can't afford" = Default.

If an individual has to use his entire savings, sell off everything he owns and lose anything he's going to earn for the next 30 years or more to pay off a mortgage...he'll default and file for bankruptcy protection.

It is better for Greece to get out now and become Romania than to continuously take loans until they become Moldova. Not to mention since the entire EU is linked, there is no way the EU will let Greece just take loans over and over because eventually the problem will spread into the EU itself.

Greece needs to default and get out of the EU as soon as they can and return to the drachma, let the market devalue their new currency, and go from there. Investors would invest in a poorer Greece with no debt rather than an artificially richer Greece with massive debt.

 

[atatwolf]

"Get out of the house you can't afford" = Default.

If an individual has to use his entire savings, sell off everything he owns and lose anything he's going to earn for the next 30 years or more to pay off a mortgage...he'll default and file for bankruptcy protection.

It is better for Greece to get out now and become Romania than to continuously take loans until they become Moldova. Not to mention since the entire EU is linked, there is no way the EU will let Greece just take loans over and over because eventually the problem will spread into the EU itself.

Greece needs to default and get out of the EU as soon as they can and return to the drachma, let the market devalue their new currency, and go from there. Investors would invest in a poorer Greece with no debt rather than an artificially richer Greece with massive debt.

It is choice of Greeks whether they want to be next Romania. But I'm afraid you don't have finance background. It is not as easy as you portray it. Greece gets very cheap loans from EU at the moment. When they get out. The loans they will take will have much higher interest rate making a lot of investment not feasable. The result will be dark age for the next 10-20 years. Nobody will take risk to invest in such risky country. Social upheaval and probably civil war will happen. They will go back 30 years in development. I know Greeks. They won't settle for lower living standards and they are not able to make sacrfise for the country. They don't have national spirit other countries have. It will be disaster for Greeks. Believe me. But go ahead.