How Long Can Greece Last On The Eu Wonga Loans It Has?

[youngmafbog]

Not for much longer it appears.

Germany has to let Greece go, they cannot keep up this charade of loaing them money so the GReeks buy their goods it is simply not viable in the long term. The poor Greeks need to be allowed to leave the EUR and move on at a pace suited to the Countries economy.

http://www.telegraph.co.uk/business/2017/02/07/eu-faces-crisis-imf-warns-greek-debts-explosive-path/

[ToraToraTora]

well the EU keep bailing them out, I think at some point it will lose patience and Greece will be forced out of the Euro.

[AB Editor]

It's interesting. How do states in the US deal with debt issues like this?

But then, I suppose they don't have similar cases of a single country propping up another's economy to ensure of their own jobs market (at the long term cost of the weaker economy)?

I hope someone can find me an example.

Someone mentioned to me that LePenn is considering an EU or Euro exit as part of her platform. If France do a Frexit, there really will be a bit of an exodus.

[ToraToraTora]

the US is properly federalised, it has a single central bank and the economy is one entity. The EU has separate states with different approaches and priorities. The currency is basically the cart before the horse used as a political shoe horn. To create a true common currency you first have to merge the disparate economies of the EU, the currency comes last not first. Thus the Eurozone is in this mess.

[ToraToraTora]

for the exodus Ed, wait until UK leave, once those remaining see how much their dues rise.....

[AB Editor]

But they must still have to deal with boom and bust between states?

I take your point generally however.

[Peter Pedant]

as along as Germany which occupied he countrry fifty years ago wished to bail them

Not really our concern now is it ?

American states ? large scale movement of population without a squeak - if you watched the last election - Pennsylvania as a rust state - and Trump promising that he would 'give ya jobs back and make America great again!"

[Peter Pedant]

// the US is properly federalised, it has a single central bank and the economy is one entity.//

erm sorry if it is federalised properly then the econom is NOT one entity

the two ideas are exclusive

liked the answer tho

[Peter Pedant]

// But they must still have to deal with boom and bust between states? //

yeah they pick up sticks and go where the jobs are ...
california - which has a GDP greater than half the EU states innit ?

the alternative is pork barrel handouts

[lindapalmara]

As long as they kick the can down the road till Greece collapses altogether. It will probably be the demise of the Euro.

[Gromit]

There are dozens of threads going back a decade about Greece abandoning the Euro and the EU collapsing.

They never do. No reason to suppose this will be any different.

[Peter Pedant]

which brings us back to

Greece will remain in the Euro as long as Germany ( who occ.....)

[webbo3]

This is how they joined the euro.
http://www.independent.co.uk/news/world/europe/greek-debt-crisis-goldman-sachs-could-be-sued-for-helping-country-hide-debts-when-it-joined-euro-10381926.html

More links here.

https://www.google.co.uk/webhp?sourceid=chrome-instant&rlz=1C1DSGL_enGB697GB697&ion=1&espv=2&ie=UTF-8#q=greeces+debt+hid+eu+goldman+sachs

Have a guess who was working for Goldman Sachs at the time?
Our very own Mark Carney.

Dave.

[ToraToraTora]

so Gromit, do you believe that greece will be perpetually propped up?

[Gromit]

Tora,
Yes.

They do not want to leave.
The EU does not want to lose any more members.

As usual, a deal will be done.

[youngmafbog]

Well there has to be a breaking point somewhere. The reason there are many threads before is because anyone with an once of sanity can see the problem: Small slow economy tied in with a large powerhouse that drives the value fo the country.

As TTT rightly puts it the EU in its rush to create a federalist State put the cart before the horse. Now they are payng for it; dearly as the PIGS are still a problem it is not just Greece.