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Actually the free fall has seemed to have slowed, and bottomed out. It's just a different cultural value -- not every culture values the green dollar as much a

Actually the free fall has seemed to have slowed, and bottomed out. It's just a different cultural value -- not every culture values the green dollar as much as America or the UK or likewise. Is it the best for your GDP? Probably not, but it's honorable. "Cash is King" is not something you hear many Greeks say about one another

petre 9y ago
The whole Eurozone is actuallly in trouble, not just Greece. And it's definitely not Greece's fault, it's bad Euro kickstarting to begin with (not consolidating debt), followed by the 2008 financial crisis, followed by the Eurozone crisis and dumb ECB monetary policy (negative interest rates) in recent years. Cash is king because you can still use it in times when the banks/ATMs only allow you to withdraw 300 euros.
bpodgursky 9y ago
Spending borrowed money like candy and calling repayment oppression isn't a cultural value I care about protecting.
- vkou 9y ago
  Bankruptcy exists for a reason. If all debt were risk free, lenders would have no right to charge interest for it. Lenders who issue loans to organizations who won't ever be able to pay them off aren't a group I care very much for protecting, either. They were sophisticated investors who knew the risks. Greece is a sovereign state, and its first obligation its to its people.
  - bpodgursky 9y ago
    Yeah, I have no problem with that, they should declare bankruptcy then, and deal with the fallout. But that's not what Greece chose to do -- they accepted bailout money and continue to complain about it,
  - deleted 9y ago
    [deleted]
geezerjay 9y ago
> It's just a different cultural value -- not every culture values the green dollar as much as America or the UK or likewise. Past Greek governments sure looked like they loved other people's cash a lot for having borrowed so much of it. It's funny how that distaste for money and accompanying virtue signaling only managed to manifest itself once it was time to pay back all the borrowed cash.
- treehau5 9y ago
  > Past Greek governments Therein lies the distinction. The government of course loves the money. That's why the people are fed up with the greedy politicians and bankers. > It's funny how that distaste for money and accompanying virtue signaling only managed to manifest itself once it was time to pay back all the borrowed cash. It's funny how this statement proves you have absolutely zero knowledge of the culture and are projecting your own pessimistic views on people and societies onto one you know very little about.

petre 9y ago

The whole Eurozone is actuallly in trouble, not just Greece. And it's definitely not Greece's fault, it's bad Euro kickstarting to begin with (not consolidating debt), followed by the 2008 financial crisis, followed by the Eurozone crisis and dumb ECB monetary policy (negative interest rates) in recent years. Cash is king because you can still use it in times when the banks/ATMs only allow you to withdraw 300 euros.

bpodgursky 9y ago

Spending borrowed money like candy and calling repayment oppression isn't a cultural value I care about protecting.

vkou 9y ago
Bankruptcy exists for a reason. If all debt were risk free, lenders would have no right to charge interest for it. Lenders who issue loans to organizations who won't ever be able to pay them off aren't a group I care very much for protecting, either. They were sophisticated investors who knew the risks. Greece is a sovereign state, and its first obligation its to its people.
- bpodgursky 9y ago
  Yeah, I have no problem with that, they should declare bankruptcy then, and deal with the fallout. But that's not what Greece chose to do -- they accepted bailout money and continue to complain about it,
- deleted 9y ago
  [deleted]

geezerjay 9y ago

> It's just a different cultural value -- not every culture values the green dollar as much as America or the UK or likewise. Past Greek governments sure looked like they loved other people's cash a lot for having borrowed so much of it. It's funny how that distaste for money and accompanying virtue signaling only managed to manifest itself once it was time to pay back all the borrowed cash.

treehau5 9y ago
> Past Greek governments Therein lies the distinction. The government of course loves the money. That's why the people are fed up with the greedy politicians and bankers. > It's funny how that distaste for money and accompanying virtue signaling only managed to manifest itself once it was time to pay back all the borrowed cash. It's funny how this statement proves you have absolutely zero knowledge of the culture and are projecting your own pessimistic views on people and societies onto one you know very little about.