Greek Economics

[despaer]

So it begins in earnest. The Greek population, annoyed by their rich persistently dodging tax have gone out on collective strike in response to their government's attempts to only spend the money it actually has and to pay back that which it has borrowed. What I am not sure of is where they go from here. If the population collectively walks out

Comments

[simoneck]

And if the Greek's get a bail out, what about Portugal and Spain?

Should we take tough decisions that'll impact voters in their wallets, or should we not bother and let the Germans bail us out?

(ditto for us, without the German bailout option).

[andygates]

...and even if a calculated and systems-y approach is taken, will the voters thick it up with moral gloss?

DSP's getting very apocalyptic in his middle age... ;)

Strikes me that all this does is highlight the weirdness of currency without policy -- it's a good argument for Der Eurofederalstatz.

[despaer]

More to the point, what about the Irish who had the same problem but have faced it head on and suffered the pain? Can't see them being very pleased if the Greeks get an even slightly easy way out of this.

Interested to note that today the Euro recovered when they said they had is all sorted and then fell again when the money makers looked at the details adnd realised there weren't any