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In reply to the discussion: Joseph Stiglitz to Greece’s Creditors: Abandon Austerity Or Face Global Fallout [View all]geek tragedy
(68,868 posts)63. I think it's pretty clear that the Grexit is the only solution--no sense in staying in a failed
marriage.
The question is how do the respective sides manage the fallout.
The Eurozone economies doesn't seem particularly worried. Whether this is false bravado or confidence in their ring fence measures, who knows.
The committed Eurocrats are having a big sad--this represents a failure of the EU. Whether the failure was losing Greece, or admitting Greece in the first place, at the end of the day a fiasco is a fiasco, and the limitations of the Eurozone are on full display.
How will Greece manage? Not well, if one relies on history as a barometer. Will Greece be truly independent after leaving the EU, or will it get sucked into the Eurasian Union--will the dominant currency be the drachma or the rouble?
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Joseph Stiglitz to Greece’s Creditors: Abandon Austerity Or Face Global Fallout [View all]
IDemo
Jun 2015
OP
If 'private central banking' is failing, then so is capitalism, as the two are
KingCharlemagne
Jun 2015
#26
EU is a group of capitalist bankers running the economies of all of Europe. Kind of like a small
jwirr
Jun 2015
#57
That's certainly what Breitbart, the National Review, and Bill O'Reilly believe
Nevernose
Jun 2015
#60
You call Stalin's purges and China's great famine capitalist propaganda in other threads
jeff47
Jun 2015
#93
Test for you: exactly how many died in 'Stalin's purges'? With source(s), please - nt
KingCharlemagne
Jun 2015
#95
You're just spouting the same old tired anti-Soviet propaganda without
KingCharlemagne
Jun 2015
#108
According to Alexander Solzhenitsyn it was between 1.6 million and 10 million
riderinthestorm
Jun 2015
#109
Capitalist propaganda? So it didn't happen, millions of people didn't die...
BeanMusical
Jun 2015
#122
"Get away with shirking its debts" - care to elaborate on what that phrase means? - nt
KingCharlemagne
Jun 2015
#127
People are dying in Greece over this fraudulent and mistaken austerity plan.
riderinthestorm
Jun 2015
#17
I don't understand this idea that the greedy bankers want to lose all their money.
randome
Jun 2015
#59
greece is effectively insolvent. we have bankruptcy proceeding for this, not debtors' prisons.
unblock
Jun 2015
#32
Well, that seems to have some merit to it. Not that I understand economics much.
randome
Jun 2015
#35
"Loan" them money, not just give it to them. The U.S. made a profit on much of it, anyways.
randome
Jun 2015
#75
Tariffs were enough to fund a de minimis federal government in the 18th century
geek tragedy
Jun 2015
#49
You would not have to borrow if the banks belonged to the country and were NOT privatized.
fasttense
Jun 2015
#56
The austerity is already creating a depression of that magnitude so what now?
TheKentuckian
Jun 2015
#64
You stated it was a choice. I'm saying both choices seem to have the same results
TheKentuckian
Jun 2015
#89
Maybe it's because Germany was the benificiary of debt reduction and forgiveness themselves?
blackspade
Jun 2015
#69
Yes, so have the finance ministers of the Eurozone countries. Which is why they did the bailouts of
geek tragedy
Jun 2015
#101
Austerity was/is a stupid policy. Loaning a country more money (as a stimulus) to solve a problem of
pampango
Jun 2015
#38
Well I suppose liquidity needed to be injected into the crashed Greek economy
fasttense
Jun 2015
#42
With one side of their mouth the EU nations say tax your shipping corporations and with the other
fasttense
Jun 2015
#61
I think it's pretty clear that the Grexit is the only solution--no sense in staying in a failed
geek tragedy
Jun 2015
#63
EU governments may see Grexit as a security issue, sending Greece into Russian or Turkish orbits.
freshwest
Jun 2015
#82
No, I wasn't suggestng a war would take place between them again. But in their sphere of influence,
freshwest
Jun 2015
#96