Let Greece Default!

[Iseree22]

The Euro as a currency has not been well designed. Consequently this has led to countries becoming heavily indebted and unable to pay back the debts. Unlike the U.K, U.S, Canada, Sweden, and others, Greece does not have its own currency. Its debts are denominated in Euros, and only the European Central Bank can create via ECB Bonds. So unlike countries with a Sovereign Currency, whom can print money to pay back their debts, Greece must beg for more Euros from the other Europeans.

I say let Greece fail!! The banks that irresponsibly financed Greek debt must suffer the consequences, this is how the market should work. The E.U should then finance Greece, as she creates her own currency, and the necessary institutions. The European Banks want the ECB to print a heap of Euros, so that they can be paid for the bad loans given to Greece. This exit from the Euro currency will rescue the Greek people from unnecessary suffering, and force the Banks to deal with the mess they have caused.

[1715278094]

1715278094

[pazor]

hello,

do you want to punish the banks with sacrifice one country or more countries (like italy, spain, portugal, ireland, etc.)
where is the principle of solidarity or the spirit of cooperation in the Europain Community?

don't open the box of pandora or play with fire!
you can not separate a member because his has financial problems. There exists contracts signed by all members with clear rules!

Do you really think if Greece leave the Euro Zone that the financial problems (of Europe/Euro) will be solved or the banks will be saved ? i don't think so.
You replace the candidate with another name and country.

Pazor


Sorry for my poor English

[pazor]

a possible useful plan is to make bitcoin strong enough so that can banks hurt....
 

[Elwar]

Greece needs to crash in order to move forward. They have crashed already, they just need to acknowledge it to move on.

[pazor]

if someone dies, he has solve his problems...
but the problems will began for his family...

[Iseree22]

Yea that sounds like a plan. Make Bitcoin stronger!!

Like America, Europe doesn't have a debt problem. The E.C.B if it wanted to could simply print a heap of Euros and remove Greece's debt. Hell, if the Europeans(or Americans while I'm at it), wanted to remove Government debt, they could. It is really simple, a country or union that creates its own currency backed by nothing more than the people can create as much money as they want. It is like Bitcoin except without that stupid limit Satoshi imposed!!

If the Europeans were really interested in 'Solidarity' and 'Cooperation' they would have created a common Bond and a fiscal union. They wouldn't have created a currency that benefits the banks that directly interact with the E.C.B. The European Currency under its current design does not embody anything related to 'Solidarity', if anything it embodies the opposite. There is no coordination over how new Euros are created. The E.C.B is not held accountable to any citizen. The E.C.B functions like the miner does in Bitcoin, it creates the money and it is the means of exchange most Europeans are forced to use. I would have thought that the management of a currency is done by the PEOPLE. Not some Bank that is not directly accountable to the people.

Most issues arising from Greece exiting could be offset by the E.C.B creating more money and injecting into critical parts of the European economy. The Real economy may suffer some damage, but currently Greece is undergoing massive privatization, with international firms being the beneficiaries. Things like Greece's public infrastructure, and land. Future Greeks will be working to support the lifestyle of these beneficiaries for no moral reason.

[hmongotaku]

Greece should kick itself out of the U.N. and create their own currency. How the heck did it get in the first place if it didn't have $$$? The rich upper class Greeks should pay more for hiding their money in different countries. Their land sold to neighboring countries like Albania, Macedonia & Turkey.