posted on Sep, 18 2011 @ 11:32 PM
Greece will default, this is a forgone conclusion. History dictates this as it has already happened may times. Once Greece puts forth even stricter
austerity measures and tightening the monetary supply, the people will hold on to their cash. Manufactures will cut back on production and increase
the number of the unemployed. This is a viscous cycle that drives everything down further. Greece is then forced to sell off assets in order to gain
capital until there is nothing left to sell. The only thing left for Greece at that point is total loss of sovereignty and depression.
The best thing for Greece is to default and return too the Drachma while dropping from the EU zone. Granted they will suffer a severe depression but
at least they will retain their sovereignty and assets. However, Germany and France frown on this as they have the most to loose and the euro zone
would most likely break apart. Now with Italy even asking China for a bailout, will Spain, Portugal and Ireland be far behind? Can Germany and France
afford to foot the bill? No, but according to Merkel & Sakozy, things will be a little rough and Greece needs to tighten the belt more but it will all
be sunshine and roses.