Greek euro exit would be a recipe for...

Greek euro exit would be a recipe for hardship

There are 2 comments on the Contra Costa Times story from May 28, 2012, titled Greek euro exit would be a recipe for hardship. In it, Contra Costa Times reports that:

Stock markets here rebounded strongly Monday from a 22-year low on hopes a pro-bailout party will win crucial national elections next month, which would avoid a catastrophic rift with international creditors and keep the struggling country within the euro currency union.

Join the discussion below, or Read more at Contra Costa Times.

“Progressive liberal politic”

Since: Sep 11

Location hidden

#1 May 29, 2012
EU need economy and political union.
QUITTNER

Toronto, Canada

#2 May 29, 2012
2:47 pm, Tuesday, May 29, 2012:
RE: Greek euro exit would be a recipe for hardship
C O P Y :
May 23, 2012 08:05 from QUITTNER
For a healthy economy there must be at least sufficient spending. But to get more spending there must be either more income, or there must be sufficiently large "stimulus" input into the system. Incomes are down in an ailing economy, therefore to improve the health of the economy more money must come in from the outside - but how? Borrowing may be OK only up to a point, it may be much more expensive if and when interest rates will rise. What is needed are massive GRANTS, NOT LOANS! But Santa Clauses are rare and after a while they say that enough is enough, they don't want to sink their money into what looks like a near-bottomless pit. First aid isn't enough, and maybe even the doctors got sick? BOO-HOO!
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The underlying problem isn't going away - the habit in some countries that they will borrow more and more and more instead of reducing their debts. And the current pulling out of savings from banks in the Southern parts of Europe is likely to result in BIG troubles for many, for which all concerned should be prepared. Good luck!

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