Skip to main content

View Diary: Bleed, you sinners! (128 comments)

Comment Preferences

  •  Why blame Merkel? (1+ / 0-)
    Recommended by:
    northsylvania

    The vast majority of Germans don't want a permanent fiscal transfer to the northern European countries.  Should Merkel ignore the wished of her constituents?  Are the Germans too "ignorant" to know what's good for them?

    Why not blame the Greek pols?  What's preventing the Greek president from declaring a moratorium on the debt and leaving the EuroZone.  At this point, 90% of Greek debt is subject to Greek law.  That means that Greece could pull out of the EuroZone, pay creditors 10 cents on the dollar, and there's nothing that the creditors could do to Greece in any court of law.

    Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. http://www1.hamiltonproject.org/es/hamilton/hamilton_hp.htm

    by PatriciaVa on Thu Sep 22, 2011 at 08:59:29 AM PDT

    [ Parent ]

    •  Come back to us (6+ / 0-)
      Recommended by:
      Nulwee, 3goldens, PrahaPartizan, BYw, melo, Creosote

      when Germany pays the 165 Billion it owes Greece and take an anti-amnesia pill so that Germans might remember that they were the beneficiaries of the biggest bailout in history; in fact several bailouts over their history.

    •  You can't put it on one or the other (3+ / 0-)
      Recommended by:
      alizard, BYw, Euroliberal

      when they're all in it together. I personally think the notion that they are abiding by their constituent wishes is not true, since if both parties were, they wouldn't be in this mess at all. They are servicing the oligarchs that run European policy.

      Your question about why the Greek leader doesn't declare default is just the flipside of people accusing him of blackmailing them with default. For him, there's a reverse blackmail. That's having Greek banks cut off. It's also lack of political backing for things like wars (as Turkey has been sending warships along Greek territory).

      There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

      by upstate NY on Thu Sep 22, 2011 at 12:30:31 PM PDT

      [ Parent ]

      •  It would be the Right thing to Do (2+ / 0-)
        Recommended by:
        Seamus D, alizard

        The Greek president shouldn't even couch it in terms of, We'll stop paying our obligations unless...

        He should simply say, my team has decided that the best path for the Greek citizens is for us to pay 10 cents on the dollar, and readopt the Drachma as the national currency.

        At that point, the new Greek Central Bank would recapitalize the banks.

        Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. http://www1.hamiltonproject.org/es/hamilton/hamilton_hp.htm

        by PatriciaVa on Thu Sep 22, 2011 at 01:41:24 PM PDT

        [ Parent ]

        •  There's a question of importing enough food & gas (0+ / 0-)

          They are much closer to a primary balance than they are to having enough raw materials to prevent collapse.

          There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

          by upstate NY on Thu Sep 22, 2011 at 02:43:14 PM PDT

          [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site