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Kasz216 on 12 February 2012
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routsounmanman said:
Mr Khan said:
routsounmanman said:
Greece is ATM at 21% (official) and still rapidly rising. And if the new austerity measures (economy killers I say) come through today, woohoo, we'll be no.1

Some of the Papademos cabinet resigned over the proposals, didn't they? It's safe to say the Greeks are determined to resist austerity

Wouldn't you if you already had your income cut by more than 40-50% already while our useless polititians got raises? You have to understand that most people here in Greece, know that we all had our share in our deficits, but only few bear the burden still, thus the riots.

And what would you do if aforementioned polititians did nothing for the best of your country? We have the strongest negotiation "card" in the world ATM. A Greek disorderly default could potentialy destroy the entire global economic system! Wouldn't you haggle more?

I'm not saying that we should blackmail the EU, but the measures could have been a bit smoother and fair overall. On  top of that, all of Europe tags us as useless, lazy and EU cancer!

Maybe a few months ago.  Everyones pretty much written in the probability of a greek default at this point.

All a disorderly default would do at this point is force greece out of the EU.

Switching it's debt into Drachmas... which would then be greatly devalued vs their debts in euros....

HUGELY raising their debt.