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Greece Is Staying In The Eurozone

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http://www.bbc.co.uk/news/business-31249907

The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone.

He told the BBC he could not see who would be willing to put up more loans to bolster Greece's struggling economy.

Greece wants to re-negotiate its bailout, but Mr Greenspan said "I don't think it will be resolved without Greece leaving the eurozone".

An on the record prediction by Greenspan is the clearest indication yet that Greece will not leave the eurozone.

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http://www.bbc.co.uk/news/business-31249907

An on the record prediction by Greenspan is the clearest indication yet that Greece will not leave the eurozone.

Yawn.

Yet another statement from him of the bleedin obvious. He must be more than half way senile by now? Why on earth do people still even given him the time of day as though he is some great prognosticator? A man who revelled, by his own confession post retirement, at speaking in meaningless indecisive language.

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Alan Greenspan has long been a critic of the European single currency. Now, the 88-year-old former chairman of the US Federal Reserve has repeated a claim that nothing short of full political union - a United States of Europe - can save the euro from extinction.

Given that few (if any) of the current 19 sovereign governments which make up the eurozone would choose to create such an entity at this time, that means -

for Greenspan at least - the euro is doomed. Before all that, though, he foresees Greece quitting the single currency, but the euro surviving intact.

So Greece leaves the single currency (aka the euro), the euro is doomed but the euro survives intact.

He's right through the looking glass these days.

At least he's not a boomer (maybe).

Edited by billybong

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It's quite funny watching the pressure swing around.

One day before the election the new govt had everything to promise, then they won and they can tour Europe to scare the crap out of everyone, now it's settling a bit and the pressure could be swinging back. Essentially, these guys HAVE to follow through. If they don't they'll be swinging from the lampposts.

I think exit is inevitable, followed by Greek carnage. Nobody has any room left to avoid it.

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It's quite funny watching the pressure swing around.

One day before the election the new govt had everything to promise, then they won and they can tour Europe to scare the crap out of everyone, now it's settling a bit and the pressure could be swinging back. Essentially, these guys HAVE to follow through. If they don't they'll be swinging from the lampposts.

I think exit is inevitable, followed by Greek carnage. Nobody has any room left to avoid it.

Follow through with what? The Grexit? I think their promise was to stay in the Euro, but at reduced debt. Now they can reduce the debt by defaulting, but if - come April - no Euros are available for pensions, debt service, and in fact any service, it's back to the Drachma.

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Follow through with what? The Grexit? I think their promise was to stay in the Euro, but at reduced debt. Now they can reduce the debt by defaulting, but if - come April - no Euros are available for pensions, debt service, and in fact any service, it's back to the Drachma.

Easy.

Now where are the Drachmas being produced?

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Follow through with what? The Grexit? I think their promise was to stay in the Euro, but at reduced debt. Now they can reduce the debt by defaulting, but if - come April - no Euros are available for pensions, debt service, and in fact any service, it's back to the Drachma.

Follow through with making a great solution that their predecessors failed to do. Really tell those guys, you know, make them put a fix that sorts all the problems.

That there isn't one might present some difficulties, but that's the thing when you accept the burden of responsibility.

I see they've moved on to claiming reparations from the Nazis. Hilarious. What about sueing the Persians while they're at it?

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I'm sure, when push comes to shove the Germans and French ain't going to right off close to 50b each let alone the Spanish and Italians who are also in for double digit billions.

The Greeks are going to get a bridging loan and a sensible plan. When they do the incumbent politicians in Europe, except Germany and s hand full of others will be planning a retirement.

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I'm sure, when push comes to shove the Germans and French ain't going to right off close to 50b each let alone the Spanish and Italians who are also in for double digit billions.

The Greeks are going to get a bridging loan and a sensible plan. When they do the incumbent politicians in Europe, except Germany and s hand full of others will be planning a retirement.

Stavros will get another line of credit, I'd bet my house on it (if I had one). The central bankers are all Keynesians, and Keynesians always opt for another line of credit. Anything to avoid the messy and unpredictable consequences of honest price discovery.

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Stavros will get another line of credit, I'd bet my house on it (if I had one). The central bankers are all Keynesians, and Keynesians always opt for another line of credit. Anything to avoid the messy and unpredictable consequences of honest price discovery.

Reading the latest news, I think we are headed for the latter one.

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