Oh yeah, I had forgotten about that.
I can kind of see where he's coming from with that referendum, though.
( Kroney, Thu 3 Nov 2011, 12:24, 1 reply, 14 years ago)

Holding the Eurozone hostage?
Ummm yeah
( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:26, Reply)

Making the Greek mob accept it ahead of time.

( Kroney, Thu 3 Nov 2011, 12:26, Reply)

They'll never accept it, as it means further 'austerity' measures
Fuck that, if Europe sinks who gives a fuck as long as they still get their pension at 52
( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:29, Reply)

This is a fairly decent article defending his decison
online.wsj.com/article/SB10001424052970203804204577013912296243898.html
(PsychoChomp, Thu 3 Nov 2011, 12:32, Reply)

It's a win/win anyway
Essentially it would allow the EU a reason to throw Greece out. Unlike Spain and Italy and Ireland, the Greek debt situation is unrecovorable, because it was based on fraud anyway.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 3 Nov 2011, 12:35, Reply)

Yep, Goldman Sachs nicely hid $1billion for them,
I wonder if they'll profit from a greak default.
(PsychoChomp, Thu 3 Nov 2011, 12:40, Reply)

ITS THE JEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:41, Reply)

Goldman Sachs isn't a jewish organisation.

(PsychoChomp, Thu 3 Nov 2011, 12:43, Reply)

Weinberg is generally credited with moving it into the field of investment banking

( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:47, Reply)

What about the default position with German and French banks ?
Not good, as UK banks are heavily involved with them irrespective of their limited coverage of Greek soverign debt.
( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:40, Reply)

Well that's the point, isn't it?
The Government passes it without referendum, the Greek people see it as their Government fucking them over, further riots etc and there's still no guarantee it'll work.

Make the people choose and it shifts the burden off the Government and onto the country as a whole.

We're all fucked whatever happens, though.
( Kroney, Thu 3 Nov 2011, 12:33, Reply)

I don't think so.
If there is a default reason to remove Greece from the Euro then it can be done without the whole zone collapsing. The soverign debt issues in other countries are not the same as Greece, despite press simplification. Plus, the strength of Germany's economy is almost entirely dependent on being in the Euro, so they aren't going to let it fail if they can help it. Greece leaving might actually be a positive thing.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 3 Nov 2011, 12:37, Reply)

Even if we solve the Greece business, aren't there a few other Euro countries on the verge of going bankrupt?
I'm sure Italy's in trouble. You can't prop up all of Europe with Chinese loans.
( Kroney, Thu 3 Nov 2011, 12:39, Reply)

Oh man it's full of ironing

( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:43, Reply)

All political parties there are fully tainted by their self inflicted crisis. Irrespective of the outcome of a referendum the present coalition is finished and the constituent members will remain deeply unpopular for a generation

( Light In Chains maker of the ikea sofa, Thu 3 Nov 2011, 12:38, Reply)

They have been striking and rioting for a year
it seems unlikely that they will vote yes to more austerity
( Naked Ape call me Caitlyn, Thu 3 Nov 2011, 12:34, Reply)

So they vote no
and the economy collapses completely and the Government can say "well, we tried to tell you".
( Kroney, Thu 3 Nov 2011, 12:37, Reply)

as long as they leave the Euro
the economy doesn't have to collapse. if they re-introduce the drachma they can devalue it to stabalise the economy.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 3 Nov 2011, 12:38, Reply)