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Comment: Re: It's like Venezuela but without all the gun cr (Score 3, Insightful) 297 297

Greece reported a nearly 2 billion euro surplus in 2014, without taking interest payments into account.

I could take a cash advance on a credit card at 28%, put it in a deposit account at 1%, and generate a surplus without taking interest payments into account.

Comment: Re: It's like Venezuela but without all the gun cr (Score 1) 297 297

That situation is exactly the same in the US (except the gap is about $500 billion right now, more than the entire Greek debt).

The US has two things that Greece doesn't: an economy, credibility, and nukes.

I'll come in again.

The only reason that the US keeps going is that they control the lender (the Federal Reserve). At least they think they do.

The Greek PM was mumbling about "external forces" (in between wittering about ancient history) on TV over the weekend. He looked & sounded drunk to me. Frankly, if I was PM of a tin-pot kleptocracy like that I'd probably have a decent nip of Ouzo before going on the box.

If you think it's the illuminati, the freemasons or the joooooz, just say so. Don't piss around.

Comment: Re: Good for greece (Score 1) 1211 1211

Why is there no production capacity shortage to keep Greek pensioners at a decent standard of living?

Yes, just look at all those factories, oil wells, mines, software houses & movie studios all sitting idle.

If you think Greece's problems are just down to liquidity I've got a bridge I'd like to sell you.

Comment: Re: Good for greece (Score 1) 1211 1211

If Germany had a separate currency, it would appreciate relative to the rest of Europe. That would result in German exports being effectively becoming much more expensive.

It's not like causing your currency to depreciate is some magic only known to those who live the wrong side of a line from the Pyrenees to the Carpathians. Something tells me the Germans could figure out a way, if they really put their minds to it.

Switching to the Euro froze that, pushing all revaluations back internally, but the Eurozone failed to implement the internal corrective mechanisms that nations use (Federalised revenue and payment systems to compensate for regional downturns.)

That much is true. They also failed to impose any form of fiscal responsibility or control on members, because sovereignty and/or democracy. Democracy in this case appears to mean that if 11 million people want to take 300 million people's money they can.

We were so poor that we thought new clothes meant someone had died.

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