Remember the old Dire Straits song “Money For Nothin’”? I think it should become the official Greek national anthem.
As you can see in this chart, the Greek Parliament is dominated by socialists, communists and other leftists who seem to think it’s possible for every Greek citizen to get their money for nothing’. No word on whether they also get their chicks for free, but we wouldn’t be surprised.
Maggie Thatcher said, “The problem with socialism is that you eventually run out of other people’s money.” In this case, the money Greece is running out of is French and German.
Source: Global Macro Monitor
{ 3 comments… read them below or add one }
“The IMF is claiming that only austerity measures will save Greece. But I say that this is a lie. Greece is in the pocket of international banking interests and needs a regime change.
The example of Iceland informs us that when an economy collapses, it can be rebuilt from scratch, so to speak. That means evicting the IMF, ECB and the EU.
Greece should leave the Eurozone and return to the drachma. European banks own Greek debt so they would be losers. But Wall Street banksters own even more Greek debt because they insured the European banks. Greece needs to default on their debt and Wall Street would be the biggest loser. Greece has 111 tons of gold so they could have a fresh start by monetizing their new currency. Greece would still be able to attract major investment with their world class drachma. Greece should follow the Iceland example.
Argentina is another good example of a country that defaulted and bounced back. Nations shouldn’t worry about attracting foreign capital just because they defaulted. It’s still a country full of assets and there is plenty of investors in the world who want it.
Zionist billionaire George Soros spoke earlier this week about Europe being on the verge of collapse. I think Germany will ultimately decide whether the eurozone survives or not.
The fact is Germany’s interest in this situation is at odds with the United States of America. The economic weakness in Greece, Ireland, Portugal and Spain make the euro weak and this boosts Germany’s export economy. Greece’s problem can be solved if Germany leaves the Eurozone and brings back the (yes, I’m saying it) Deutschmark which would immediately trade up 30-40% on world markets to enhance its competitiveness. This action would save Greece.”
I’m quoting a post of a forum user that can be found here http://forum.ars-regendi.com/should-germany-leave-the-euro-zone-t-15719-7.html
You leave dire straits out of this.
One drawback to a country faulting on it’s debt, the debtor countries may decide to collect by force (war).