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What I find worrying is that Greece like a few other countries are in the same situation, just that the other countries did all the things the loaners wanted an
by Zenst 11y ago
What I find worrying is that Greece like a few other countries are in the same situation, just that the other countries did all the things the loaners wanted and with that maintained credibility and credit lines so they could get them directly without having to be so public to get respectable rates.
Those countries did not want Greece to leave as would then place them on the front line and focus and attention upon them in much the same way that the press will interview and talk with those at the front of any queue, be that Apple or any other reason. This is a queue that nobody wants to be at the front.
But the sad part is, this whole process is self-fulfilling and talent leaves Greece and with all the uncertainty and worry put upon them, jobs kinda suffer and only snowballs the situation.
Yet all the focus is upon churning that debt mountain and little or no focus upon rebuilding and aiding the country beyond the standard - sell this and that off without any regard for it is is right for Greece.
In short this whole drama focuses upon mopping up a leaking water main and no focus at all upon resolving that water main and making sure it does not break. Yes the loaners made suggestions and some come about, many have not and all the diverging just only hurts the people more.
FOr the Eurozone and the Euro currency if Greece leaves then the knock on effect could be very detrimental, but that is only because currently Greece is on the front line and those ripples and impact upon the Euro currency not negligible and I do wonder if the amount lost on the Euro and the volume of Euro's in circulation that that amount is greater than all the money Greece has ever owed.
That nobody has worked out I can see and certainly a larger consideration that is being mooted.
The Euro has lost around 18% against the American Dollar (USD) in the past year and 10% against the British Pound(GBP).
Still not all atributable to Greece but when the UK/Britain is part the Euroland though not the currency then the impact and amount involved make it clear that the sooner the Greek problem is made a non-problem then the better. Though had they just written of the debt, the actual cost to the Euro-zone countries would perhaps been far less than it has been. Certainly would have had better news in that period and focus upon more productive things.