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Eurozone Implosion Appears ImminentFollow

#1 May 23 2012 at 2:53 PM Rating: Excellent
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http://online.wsj.com/article/SB10001424052702304840904577422352580407454.html
The Wall Street Journal wrote:
BRUSSELS—Euro-zone officials have stepped up planning to contain the fallout of a possible Greek exit from the euro zone, even as European leaders meeting here Wednesday said they want the country to remain in the single currency area.

[...]

Policymakers increasingly fear that moment could come following next month's Greek elections. Polls show Syriza—the leftist party that wants to renegotiate Greece's much-despised bailout deal—running neck and neck with New Democracy, the conservative party that helped push the bailout's austerity measures through the Greek Parliament.

On the bright side, now is a great time to visit other, more stable European countries; the euro is down to USD 1.26!

Not to toot my own horn (okay, totally to toot my own horn), but I've been saying for years that a common currency shared across sovereign nations with independent fiscal policies was a rather silly idea. Six months ago, the idea that any EU country would leave the economic bloc was considered pure insanity; now, it seems imminent that at least Greece will exit, with Portugal, Ireland and Spain possibly to follow.
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#2 May 23 2012 at 2:57 PM Rating: Good
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Did you know the Greeks invented ***? Later the Italians invented it with women.
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#3 May 23 2012 at 3:03 PM Rating: Excellent
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lolgaxe wrote:
Did you know the Greeks invented ***? Later the Italians invented it with women.


And after that the Germans invented it with leather straps and whips.
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#4 May 23 2012 at 3:12 PM Rating: Excellent
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Demea wrote:
a common currency shared across sovereign nations with independent fiscal policies Greece was a rather silly idea.


Greece had too much debt when it was allowed to join the Euro, and didn't really have good plans for solving that problem. It didn't meet the EUs own fiscal requirements initially and probably shouldn't have been added at all.

Same sh*t, different decade.

Relevant Linky

Quote:
Investors worried

Some investors have said they are worried the decision to allow Greece to join the euro will send out the wrong signal to financial markets - suggesting that in future other, weaker economies may be allowed in without complying fully with membership conditions.

Greece has one of the highest inflation rates in Europe. Public sector borrowing is also much higher than would be permitted normally under the EU rules governing entry to the project.


Edited, May 23rd 2012 2:39pm by someproteinguy
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#5 May 23 2012 at 3:49 PM Rating: Excellent
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Does this mean my unconverted French francs may one day have value again?
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#6 May 23 2012 at 4:12 PM Rating: Good
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someproteinguy wrote:
Demea wrote:
a common currency shared across sovereign nations with independent fiscal policies Greece was a rather silly idea.


Greece had too much debt when it was allowed to join the Euro, and didn't really have good plans for solving that problem. It didn't meet the EUs own fiscal requirements initially and probably shouldn't have been added at all.
This is the problem. Retarded politicians getting overexcited about the Euro and allowing countries like Greece to join who really had and have no business being part of the Eurozone.
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#7 May 23 2012 at 7:58 PM Rating: Excellent
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I plan to buy greece for a nice crisp $20 bill after they default. No one start a bidding war with me or i'll totally leave you bad feedback on nationstatebay!
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#8 May 23 2012 at 8:37 PM Rating: Excellent
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Dread Lörd Kaolian wrote:
I plan to buy greece for a nice crisp $20 bill after they default. No one start a bidding war with me or i'll totally leave you bad feedback on nationstatebay!


Screenshot
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Edited, May 23rd 2012 10:38pm by Shaowstrike
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#9 May 24 2012 at 1:07 AM Rating: Excellent
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I was going to use it to lubricate the wheels on all the tiny wombat tanks. they take alot of greece. Otherwise they get squeeky and its hard to sneak up on people.
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#10 May 24 2012 at 5:55 AM Rating: Excellent
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Dread Lörd Kaolian wrote:
I was going to use it to lubricate the wheels on all the tiny wombat tanks. they take alot of greece. Otherwise they get squeeky and its hard to sneak up on people.

Smiley: disappointed
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#11 May 24 2012 at 7:52 AM Rating: Good
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I'm having Souvlaki for lunch because of this thread.
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#12 May 24 2012 at 9:00 AM Rating: Excellent
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Overachiever.

Some of us haven't even had breakfast yet. Smiley: bah
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#13 May 24 2012 at 9:38 AM Rating: Decent
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someproteinguy wrote:
Overachiever.

Some of us haven't even had breakfast yet. Smiley: bah

Do chocolate-chip cookies count?
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#14 May 24 2012 at 9:42 AM Rating: Good
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Only if we count 75¢ coffee as breakfast as well.
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#15 May 24 2012 at 9:51 AM Rating: Good
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lolgaxe wrote:
Only if we count 75¢ coffee as breakfast as well.
You're in, but I'm not sure about the cookies.
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#16 May 24 2012 at 6:50 PM Rating: Excellent
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Cookies ALWAYS count. http://en.wikipedia.org/wiki/Cookie_Crisp
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