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I'm over this horror of the investors (creditors) not getting repaid. When you make an investment, you are taking a risk. If it doesn't work out, accept it, lea
by argumentum 11y ago
I'm over this horror of the investors (creditors) not getting repaid. When you make an investment, you are taking a risk. If it doesn't work out, accept it, learn and move on.
The fact is the EU currency union was deeply flawed from the beginning, and favors exporting economies like Germany over a tourism/shipping economy like Greece. Greece was the fastest growing economy in Europe for decades prior to joining the Euro, and given its immense advantages, there's little reason to suspect this wouldn't have continued in a fair and equitable union, despite corruption & overspending.
Invading Greece to recoup the losses of large banks is not only insane and unethical, but will undoubtedly be met by the bloody resistance of a proud people. It would probably lead to a third world war, which the EU was created to prevent. Your option B is a better union, but it seems very unlikely to happen.
The best bet is what is going to happen anyway .. Greece will leave the Euro, struggle to get back on its feet, but once it does it will prosper as currency devaluation will play to its strengths as the most enticing per capita tourism mecca in the world.