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Of course this will ``save`` the dollar since the Euro will go down.
Feb 22 (Reuters) - German Chancellor Angela Merkel said on Tuesday alongside Greek leader George Papandreou that rescheduling the repayment of Greece debts could be considered in the context of a comprehensive euro rescue package.
Published: 2 May 10
The deep cuts imposed on Greece in return for an emergency bailout will spur other troubled eurozone members into doing all they can to avoid the same fate, German Chancellor Angela Merkel said Sunday.
Originally posted by zvezdar
reply to post by Bordon81
Greece isnt being used a whipping boy, they brought this on themselves. As soon as they had access to Germany's credit rating they went on an unsustainable borrowing binge.
Greece historically has been in default about half the time over recent history, this is nothing new. Much of the rioting is because so many in greece get money from the govt for doing nothing. Their economic model is unsustainable regardless of the currency. They need to get back to being a productive country.
Greece will have to default...however what is happening now is the IMF and EU are trying to force greece into selling its assets off in a fire sale. That is the real tragedy here, the greeks should tell them where to stick it, default and start again. Regain control of your own currency! Dont sell anything off, keep the country's assets in tact because the Greek people will need them to rebuild a shattered economy and political system.
Euro zone finance ministers postponed a final decision on extending a further 12 billion euros ($17 billion) in emergency loans to Greece, saying Athens would first have to introduce harsh austerity measures.
Originally posted by Vitchilo
Well the deal with Greece just fell through and markets will open in a few hours in Europe.
It's gonna be hilarious... hilariously bad.