Bloomberg Tests Post-Euro Greek Drachma Code

Greece ranks a fairly small 76th in population size less populated than Cuba. They could let Greece default without killing global commerce too much. Usually when a country defaults they try to become as self reliant as possible. Its easier to control your currency value when you only use it to buy locally produced domestic necessities. Don't even think about buying that new Mercedes with Drachma! Where it gets difficult is when you need imported goods like oil.

Obviously if there was a domino effect and Ireland, Spain and other member nations followed suit and defaulted foreign trade would all but end which could cause a major global depression. That is why they are treating Greece so harshly, they don't want other countries to break the European union.

reply to post by Cauliflower


harsh is an understatement! darn right bullying maybe. What i find interesting, intriguing and a great time passer, is what will the UK move to, for defense, trade and policy? and you know what, i think even though the euro single currency has failed, like a chocalate toasting fork, that single currencies will be big players, such as middle east single currency, and of course, the americas single currency (some south american countries, cuba, canada, caribean isles) and the UK

UK? actually, yes it wasnt a typo!

reply to post by Cosmic4life


i thought the foriegn banks they owed money to had already claimed it as collateral (gold/silver) so i dont think they have that option left could be wrong though

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