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Nye Bevan

(25,406 posts)

9. That's certainly an option.

Reply to backscatter712 (Reply #7)

Mon May 14, 2012, 03:41 PM

May 2012

Greece will then run out of money in June and will have no way to borrow any more. Public sector workers' salaries will not be paid; the government will shut down. One option at that point would be to drop out of the Euro, roll the printing presses, and pay the salaries and other bills in devalued drachma. Of course, inflation would be huge and the short-term pain would be tremendous. There are no easy options.

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Greece's moderate left says no government possible [View all] muriel_volestrangler May 2012 OP

It's time for Greece to do the Iceland thing! Joe Bacon May 2012 #1

No, Iceland was never in the Euro muriel_volestrangler May 2012 #2

exactly and Greece's economy will suffer much more than for it. grantcart May 2012 #3

well, if they can do the mechanics of a new currency, tourism will be a valuable export muriel_volestrangler May 2012 #4

That and Greece's problem is entirely different dmallind May 2012 #5

Fail - Iceland is actually joining the EU hack89 May 2012 #15

Greece is like that deadbeat brother-in-law who wants to keep borrowing more money Nye Bevan May 2012 #6

You're actually defending the IMF banksters on this? backscatter712 May 2012 #7

To be fair, unreadierLizard May 2012 #8

That's certainly an option. Nye Bevan May 2012 #9

I see that as the only way out. backscatter712 May 2012 #10

How doe printing a new currency solve anything? hack89 May 2012 #16

Oh it wont be short term pain imo. cstanleytech May 2012 #12

You do realize cstanleytech May 2012 #11

And ... Nihil May 2012 #21

So why did the EU and european banks write off 75% of the Greek debt hack89 May 2012 #17

"Welsh on that debt!" is a slur. Psephos May 2012 #19

The EU Tight Money Policy is Losing Support Even In Germany AndyTiedye May 2012 #13

Either Russia or the United States will come to Greece's rescue FarCenter May 2012 #14

Greece's Left Leader More Than Just 'Sexy Alexi' FarCenter May 2012 #18

How dare those stubborn Leftists do the will of the people! Peace Patriot May 2012 #20

Beyond punishing the former government hack89 May 2012 #22

Well, I disagree with you there. The "will of the people" is clearly anti-"austerity." Peace Patriot May 2012 #23