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View Diary: When you stand up to bankers, you win (146 comments)

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  •  Greece has a tourist economy (2+ / 0-)
    Recommended by:
    OleHippieChick, Dave the Rave

    that can easily pay for needed imports.

    And if it chooses to use new dracmas, hotel rooms might be 50 New Dracmas+8 Euros tax a night.

    The tax Euros can be used to buy oil for the electric generating plants and buses.

    •  Leaving the Euro (9+ / 0-)

      Would have extremely negative short-term impacts.
      But it would also have very positive long-term impacts.

       Suddenly Greece would be the cheapest tourist destination in Europe. Tourists would flood there.

       Suddenly the tiny Greece export sector would become competitive. That wouldn't pay off for a couple years, but it would be something to look forward to.

      "The rich are only defeated when running for their lives." - C.L.R. James

      by gjohnsit on Mon Feb 20, 2012 at 09:39:00 AM PST

      [ Parent ]

      •  Tourists already flood there (0+ / 0-)

        The tourists would just pay less and Greeks would get less money.

        Sort of like cutting the Greek minimum wage 22%. The Greek government might get 22% less income tax revenue off the worker.

        •  So you are saying (3+ / 0-)
          Recommended by:
          BYw, WisePiper, Militarytracy

          that if it suddenly became much cheaper to visit Greece that it wouldn't make any difference on the number of people going there?

           That sort of contradicts a basic rule of economics.

          "The rich are only defeated when running for their lives." - C.L.R. James

          by gjohnsit on Mon Feb 20, 2012 at 05:38:44 PM PST

          [ Parent ]

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