Today, Greece becomes the 1st developed nation to default on its international debt obligations - Thoughts?




  • This will be a good thing for Greece
    31% (4)45% (10)40% (14)Vote
  • This will be a bad thing for Greece
    69% (9)55% (12)60% (21)Vote
And you are? I'm a GirlI'm a Guy

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Most Helpful Guy

  • I think they were pushed too far.

    They've been through 2 bailouts now and 5 years of austerity and their economy continues to worsen. Their situation is the result of structural flaws in the eurozone (e. g. no monetary union) and politics interfering with economic realities (e. g. the German government have to be seen to be tough on those "lazy" Greeks). Since the crisis first started, the EU and IMF have been kicking this can down the road while the Greek people suffered. They were always going to need a reduction in the debt somehow and constant austerity just made things worse. The troika ignored both of these facts. They were basically trying to revive the Greek economy by kicking it while it was on the ground.

    That said, Greece is hardly blameless. They apparently lied to get into the euro zone and had a poor economy with corruption and tax collection issues for years apparently.

    Wrt your poll, I didn't answer as I honestly have no idea how this will end up. The next few years will be rough for Greeks whatever happens.

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    • im also curious to see its effect on the eurozone in general. The Euro has already taken quite a beating against the US dollar, and i imagine that the markets/speculators will now turn their attention to Italian and Spanish debt, probably pushing up their interest rates a bit and putting them into crisis mode once again. Now if we have a precedence set where the EU won't come to the rescue of one of their own, i think the next debt crisis like this could be really bad for the state of the union. Thats my thought anyhow

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    • Thanks. :)

    • you're welcome :)

What Girls Said 6

  • My thoughts are wildly unpopular on this site.

    Greece gave everyone (citizens) everything for free. They were bailed out once, and used that money to continue providing free everything to citizens. Go figure, they are in trouble again. Italy is following in the same footsteps.

    Greece collapsing is a major disaster fo

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    • For global economy as well as citizens. The people tried to run on the banks and got the equivalent of $60 each. They will lose everything.

      Americans need to take notice. Eventually you will run out of other people's money.

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    • you don't know what you are talking about "Greece gave everyone (citizens) everything for free. " that shows your utter ignorance, and the fact that your whole knowledge about the issue comes from the propagandizing media. over 7 thousand suicides, impoverishment of all middle class households and the serial closing of enterprises shows that much more were taken than given from the greek people.

    • @Riverock exactly. the billions were given to the corrupted bank system, NOT to the aid of people... .

  • Out of control government spending... it is like the US. It never ends well when a country fails to look after the well being of its people. The US is doing this too.
    The Greeks should create a new government. Time for a revolution.

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    • revolution could be bloody!

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    • This was not a US problem. It was greece amassing tremendous debt that it had no way , nor do I believe, intention of repaying.

    • Yes, the US government is screwing its people over. It is getting worse...

  • My parents were planning on going there to celebrate their 30th wedding anniversary... They have since reconsidered.

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    • lol wtf? draft him? talk about random :D I don't think Italy can even afford a larger army atm. But Croatia is nice!

    • It's not like they are really in need of 55 year old men either. I've heard some very nice things about Croatia. I don't think they're going to go anywhere now though.

  • Sorry my internet is on drugs. so it won't let me send messages

    http://www.girlsaskguys.com/user/soren

    Ima get a free copy of this game doe right? lol. I thoughgt you were in medical school

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    • ah, im not super familiar with soren. But yeah the game will be free :p and i am in med school.. but i also have other interests :)

  • They neeed foreign investment... The Chinese are coming. So are the English to take over their land bit by bit.. :P

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    • yeah i doubt the English are coming to the rescue. They have even more debt than the greeks xD

    • They are a top nation full of successful entrepreneurs... they 'll do well coaching the greeks how to do business better. errr i think. lol.

    • They won't survive with little to almost no cash but bartering? yes!

  • I'm not ready for the end of the world as we know it. This scares me.

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    • the end of the world as we know it won't happen until the debt collector comes for the USA, which is still a few years out. Rest easy for a while :)

What Guys Said 14

  • It is a hard call Greece is a mess and needs a bail out but the EU/ECB/IMF act as banks and insist on savage austerity to favour bondholders. We had a savage bailout in Ireland it was tough but we have come out the other side with a really tight ship. If there was no consequences countries would just keep spending willy nilly.

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    • you guys pretty much said "go to hell" to the bankers, which I do respect, haha. But then again, the small population size of your country is probably what allowed you all to do that

    • That was Iceland - Ireland got the bailout and paid its debts

    • ohh that's right. i always get them confused!

  • My thoughts?

    Greece is first on the list. Then will come Spain, Italy, and some day... maybe us.. France.
    Unless something happens that allows governments to regain their sovereignty, and drop that stupid Euro.

    We knew since 2012 (maybe earlier) Austerity measures do not work. I would even go as far to believe it was imposed on purpose by Bruxelles to ruin the country.
    Jesus they're humiliating themselves by selling lands to these Qatari fuckwits.
    I honestly have empathy for greeks.

    Debts means business for Central Banks.

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  • Sometimes a person or country needs to default in order to start moving forward. Because they get stuck in a endless cycle or they simply continue to pile on debit in a effort to remain afloat. Of course default should be the last option on the table, but it should never be completely taken off the table.

    I will say that Greece leaving the Euro is a good idea, because in general the Euro gives Germany way to much leverage over the countries who use it. Much like the dollar gives the US way to much leverage over countries to buy oil from OPEC or the ones who use the dollars as their reserve currency.

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  • If they don't pay it back who will lend them money in the future? Whatever you like to think money is what makes the real world work. You need it. Unless you change the world we live in. They need to keep paying it back to provide more security for their future.

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  • I got a bad feeling this is just the beginning.. Greece first, Italy tomorrow, then eventually the U. S

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  • I feel sorry for everyone my age who lives in greece. I would move to another country like germany or sweden. The people are mad but they are the ones who voted for a government that spent a lot of welfare and other benefits. So they made there bed now they can lay in it.

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  • it makes me sad that banks control the world

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    • you and me both

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    • I was talking about wealthy Italians who also could have helped (I bet you know how much politicians make in Italy, last time I checked they were the highest paid in Europe). We're definitely going the same direction tho it's not that bad yet.

    • Yeah Italian politicians are the worst...
      The Italian government has to act fast and make the right decisions soon
      But its very tricky and tough because there is so much corruption

  • Well, it happens. Too much spending and poor financial planning. How long till the US government has it, I wonder...

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  • Greece will be the first of many.

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  • This is bad for Greece and the eurozone as a whole. Euros will drop in value, while Greek currency is down the toilet. The repercussions will be felt world wide. The Dow Jones was already down 300 points yesterday.

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  • It was bound to happen sooner rather than later.

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  • I don't know sorry for Greece...

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  • Makes me wonder what they were spending on. Kush?

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  • people are too ignorant of the background schemes and general parameters of the story to form a valid opinion here. long story short it can be a good choice if it's handled the right way by the government... .

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