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Europe
Greece and the Euro: Going, Going . . .
2010-04-29
Posted by:John Maynard Keynes

#6  No problem, just put it on Angela's tab.
Posted by: DMFD   2010-04-29 22:09  

#5  slashing the deficit by that much will cause a severe recession and a large fall in government revenues. Thus accelerating their spiral to default.

This is all reality denial. Greece's only option is to leave the Euro zone, print money and inflate their debt away.

Ditto the rest of the PIIGS.
Posted by: phil_b   2010-04-29 20:26  

#4  Saved in the nick of time.

Greece has agreed the outline of a €24bn austerity package, including a three-year wage freeze for public sector workers, in return for a multibillion-euro loan from the eurozone and the International Monetary Fund, according to people familiar with the talks.

Final details of the measures, which are intended to slash the budget deficit by 10-11 percentage points of gross domestic product over the next three years, were still being worked out, a senior government official said.


That is a huge budget cut, if correct.
Posted by: Nimble Spemble   2010-04-29 19:44  

#3  Dollar is stronger but it's not a good time to have foreign investments.
Posted by: JohnQC   2010-04-29 10:18  

#2  Danger, danger Will Robinson!
Posted by: JohnQC   2010-04-29 10:17  

#1  Well, regrettably, if there will be another Great Depression and ensuing totalitarian Nazi-like government, people better hope their skin color is of the right hue.
Posted by: Jack Salami   2010-04-29 08:55  

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