Grexit

[ribbit]

anyone following the greece debt issue?

they vote OXI (no) yesterday and about to leave a steaming pile for germany to handle.

they run the same poll with some of big name economists and they also say NO to continuing the austerity policy. of note is the only economists voting YES actually live in the eurozone.

more drama to come.

[Deeks]

I, and ah guess many on the forum reading about it. One thing, this whole situation makes us pay attention to, is overspending and living within you means. And pay your friggin taxes.

[asylumseeker]

Polarizing issue. The outgoing finance minister (himself an economist) is reveling at the triumph of the 'no' vote. The vote gives them perceived negotiating capital, but one wonders whether it's ultimately and effectively a pyrrhic victory.

Until the vote, I've been following only superficially.

[grimm01]

Saw them celebrating the "no" vote like they won something

I reading today that people talking about loan forgiveness. What's the point of forgiving loans if you're not willing or able to address the structural economic problems that got you to this point in the first place?

Might be better for them to leave the Euro and rebuild from a clean sheet. Maybe if they could implement more sensible tax and economic policies, it would give them more leverage to renegotiate debt or loan forgiveness.

[Deeks]

Some people say the No vote is to buy some time on future  austerity implementation. So Euro countries like Finland refuse to here anything about debt forgiveness for the Grecians a la George Bush.