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Greece Denies Report It's Seeking To Leave Euro


Parsad
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Many speculate that if Portugal, Greece, or whomever were booted out of the Euro (voluntarily, or not), that it would be proof of a currency structure that is flawed and that such an event would lead to a massive devaluation of the Euro vs the dollar. That may be the case temporarily, or psychologically, but i think it would only strengthen the Euro significantly further over the medium-term, if they booted out the weak countries/economies.

 

It is a difficult, flawed structure over the very long term to have so many different countries with their own cultures and policies intertwined in such a way, but getting rid of the weak hands would only help the Euro and not cause a massive unwind in my opinion.

 

 

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It is a difficult, flawed structure over the very long term to have so many different countries with their own cultures and policies intertwined in such a way, but getting rid of the weak hands would only help the Euro and not cause a massive unwind in my opinion.

It might very well be what will happen. However, one of the problems is in who and how many weak hands there are. Italy for example may be much weaker than the markets expect and it is a big fish.

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Its easy to see who owns the debt. It is not easy to see who owns the CDS on this debt and who is swimming naked here. I believe that only a crises will present an opportunity to get Europe straightened out{ the politicions need to be scared to death} you can not have a workable system under the current regeime. Some want the Euro experiment to fail because it would be profitable for them again again we have hedgies throwing matches and we are all knee deep in gasoline.

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  • 2 weeks later...

In this attached letter, we offer a solution, which will go a long way in helping prevent a likely Greek sovereign default. It is not a comprehensive solution, but a strong start to a daunting circumstance

 

http://vll.me/tct

There may even be some social justice in your proposal. The most serious problem facing Greek society is the level of cheating on taxes since gambling is a voluntary tax which is almost impossible to cheat on you have created a sytem of increased voluntary tax payments.
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