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economic situation is dire


ianrobo1

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Presumably if Greece say up yours to the IMF and what not and default on all their debts every other country with huge debts will follow suit

Best get stock piling food and water at home folks

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Presumably if Greece say up yours to the IMF and what not and default on all their debts every other country with huge debts will follow suit

 

 

It would be a very sensible idea to arrange the write-off of a great many debts, as has happened throughout history (not least for Germany, four times in the last century - how quickly they forget).

 

It has a stimulating effect, where large overhangs of paper debt have a crushing and debilitating effect on economies.

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Pretty scary how 3 of the top 5 parties in this Greek election are either far-left or far-right.

I agree, although isn't it a common complaint that most of the main UK parties occupy virtually the same centre ground so that in reality there is little to choose between them?

Edited by brommy
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Quite surreal watching the C4 news tonight. They covered the Greek election, and had some German Tory spiv saying that debt write off was not an option, debts have to be paid, all that old bollocks. I only caught part of it, may not have the full gist.

Then they had a piece on the commemoration of the liberation of Auschwitz.

They made no connection between the two.

The connection is of course that in 1954, the world forgave Germany a large amount of debt. Eight years after a war in which millions were killed, the country seen as instigating the war was forgiven its debt. That was the foundation of the "German economic miracle" which we've heard so much about. It has done Germany a vast amount of good.

Now, a country which has perpetrated no such crimes against humanity, caused no such misery and loss of life, is being blocked from debt forgiveness by, er Germany...

As a Brit, I'm astounded and angry about this. If I were a Greek, I'd be out on the streets, fomenting revolution. And if I were German, I'd be pretending to be Swiss.

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it's certainly a point the Greeks would happily explore in a bit more detail!

 

Tenuously linked to this, I heard on BBC R4 tonight that we still pay off interest every year from perpetual loans, including one we took out for £2B to fight World War 1 

I couldn't help thinking it was doubly odd that firstly we were still paying interest on a 100 year old debt, but secondly, what immoral scum bucket nebulous bank / market / country would lend money to fight a war on perpetual interest?

 

To put it in perspective, they then mentioned that we've also still been paying back interest for money borrowed to get over the 1711 South Sea Bubble. Just have a little think about that. We still pay interest for a loan taken out to bail out 'the market' from a disastrous piece of economic business 304 years ago.

 

We are being right royally had and being overcharged for the privilege.  

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Now, a country which has perpetrated no such crimes against humanity, caused no such misery and loss of life, is being blocked from debt forgiveness by, er Germany...

.

1919 - 1922 says Hi

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it's certainly a point the Greeks would happily explore in a bit more detail!

Tenuously linked to this, I heard on BBC R4 tonight that we still pay off interest every year from perpetual loans, including one we took out for £2B to fight World War 1

I couldn't help thinking it was doubly odd that firstly we were still paying interest on a 100 year old debt, but secondly, what immoral scum bucket nebulous bank / market / country would lend money to fight a war on perpetual interest?

To put it in perspective, they then mentioned that we've also still been paying back interest for money borrowed to get over the 1711 South Sea Bubble. Just have a little think about that. We still pay interest for a loan taken out to bail out 'the market' from a disastrous piece of economic business 304 years ago.

We are being right royally had and being overcharged for the privilege.

We can thank Chamberlain for that if I recall , he refinanced the war bonds in the 30's .... Probably seemed a good idea at the time ??

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Now, a country which has perpetrated no such crimes against humanity, caused no such misery and loss of life, is being blocked from debt forgiveness by, er Germany...

.

1919 - 1922 says Hi
No comprende.
It was the years of the Greek- Turkish war , started by the Greeks ( with a bit of egging on by the Brits amongst others )
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