Let Greece fail?

[Tony 10]

Should Greece be allowed to fail? What will be the consequences if they are?

[eastbank 10]

best news i've heard in years....don't let your kids holiday there...you may never see them again...

justice for matthew david cryer who was murdered on the greek isle of zante..

along with other kids who have suffered in that country..

so let them go to the wall...

[hard2miss 10]

I would leave them to it, they are all tax dodgers so if their Gov don't want to tackle it then why should Europe pick up the pieces ?

 

This is another reason why we should get as far out of Europe as we can. Back fill the channel tunnel.

[eastbank 10]

I would leave them to it, they are all tax dodgers so if their Gov don't want to tackle it then why should Europe pick up the pieces ?

 

This is another reason why we should get as far out of Europe as we can. Back fill the channel tunnel.

 

 

before we back heel europe...can the lads have their 5 days in benidorm

[LordChaverly 10]

No, Greece should not be left to fail, but nor should the EU bail it out. What it should do is seek a loan from the IMF, which is the right organisation to deal with crises of such magnitude. Moreover, the IMF has both the expertise and experience to provide the assistance Greece requires.

 

A bail out by the EU (more specifically by the richer countries in the eurozone) would be highly undesirable for many reasons, which I don't have the time to explain. Unfortunately, this is what will probably happen though.

[Urien 10]

Greece will not be allowed to fail, the great European Union project must roll on - at whatever cost - and we'll be paying for it!!!

 

When the treacherous Heath signed up to this European farce he bought us a pig in a poke.

THINK! every vote for the Lib/Lab/Con men is a vote for the continued rape, plundering and ruination of this country.

[Pidgeon 10]

If it does fail, the UK will be swamped with Kebab shops in no time.

[Urien 10]

If it does fail, the UK will be swamped with Kebab shops in no time.

 

I expect we'll be swamped with a whole new bunch of Greek "economic migrants" looking for the benefits of living in the good old UK.

[alchresearch 215]

If it does fail, the UK will be swamped with Kebab shops in no time.

 

Like we're not already!

[Rupert_Baehr 10]

No, Greece should not be left to fail, but nor should the EU bail it out. What it should do is seek a loan from the IMF, which is the right organisation to deal with crises of such magnitude. Moreover, the IMF has both the expertise and experience to provide the assistance Greece requires.

 

A bail out by the EU (more specifically by the richer countries in the eurozone) would be highly undesirable for many reasons, which I don't have the time to explain. Unfortunately, this is what will probably happen though.

 

I agree entirely. I suspect that the main reason that the Greeks don't want to go to the IMF is that they would be obliged to comply with the rules laid down by the IMF.

 

I suspect that the richer countries in the Eurozone (notably Germany and France) will bail out the Greeks, but that isn't going to be at all popular with their own electorates.

 

The Euro has made life simpler in many ways. Businesses within the Eurozone can predict their costs and returns more easily and life is much easier for private travellers, but the downsides are enormous. A number of countries simply ignore the fiscal rules, which leaves those who do comply to pick up the bill.

 

The 'Club Med' - Italy, Greece, Spain and Portugal - (along with Ireland) are all in a mess and such a bailout isn't going to please many people in the Northern States.

 

We will have to 'wait and see', but given that there's no obvious way for Greece - or any other country in the Eurozone - to leave, it seems likely that the richer countries will bail the Greeks out. Hopefully, there will be conditions attached ... but I expect the Greeks will simply ingnore them; they don't have a very good track record for complying with the existing rules.

[Fogey 10]

No, Greece should not be left to fail, but nor should the EU bail it out. What it should do is seek a loan from the IMF, which is the right organisation to deal with crises of such magnitude. Moreover, the IMF has both the expertise and experience to provide the assistance Greece requires.

 

A bail out by the EU (more specifically by the richer countries in the eurozone) would be highly undesirable for many reasons, which I don't have the time to explain. Unfortunately, this is what will probably happen though.

 

The problem is if Greece is seen as a country that can't be left to fail then where is the insentive for them to pay off the debt, or indeed any other country for that matter?

[epiphany 10]

No, Greece should not be left to fail, but nor should the EU bail it out. What it should do is seek a loan from the IMF, which is the right organisation to deal with crises of such magnitude. Moreover, the IMF has both the expertise and experience to provide the assistance Greece requires.

 

A bail out by the EU (more specifically by the richer countries in the eurozone) would be highly undesirable for many reasons, which I don't have the time to explain. Unfortunately, this is what will probably happen though.

 

There is still a significant air of distrust surrounding the IMF, due to its lack of accountability, monetarist fundamentalism and limited success rate over the past 20 years, with often crippling conditionalities imposed on debtee nations. I'm not claiming that Greece shouldn't expect some pain along the road to recovery, but I don't think it's quite as cut and dry as "the IMF will save the day".

Edited February 11, 2010 by epiphany