Tag Archives: grexit

the grexit, new york snowmegadorn … it might not be that bad

27 Jan

london

i read that the snow storm that the pundits say will be humongous, turns out to be just an ordinary one. so much ado about nothing.

i wonder if the dire predictions of disaster if greece exits the EU will also turn out to be much ado about nothing.

what if leaving the EU makes greece so much better… it will immediately be free of debt, and even if its ability to get loans will be curtailed, so what, if it can print its own money within the country it should not matter.

imports will be expensive, and it seems it imports a lot of stuff, food stuff as well, but i think it might encourage people to grow their own food and help the local farmers. remember that saying… owe £1million and you are fucked, but owe the banks £100billion , and the banks are fucked. haha. 

greece should take the brave option, and just go it alone. and tell its people there will have hardship at first (so not much different from now right?and people may have to tighten their belts and barter amongst themselves for goods and services… but if the drachma is so much better value,to the euro,  tourism and exports will boom and it will be flooded with new money and lots of jobs.

i know for sure we will all holiday there if the drachma is much reduced so making a greek holiday the cheapest and best value for money. 

the Eu will have more to fear from a greek exit, because if it turned out to prosper, that will make spain and portugal too want to get out.

i remember that time during the asian crisis when the thai bhat fell and toppled all the other asian currencies in a domino effect, and the then malaysian prime minister mahathir, refused to follow the advise of the IMF, borrow more money to prop up the ringgit, and instead fixed the exchange rate and took the ringgit out of trading, so that the speculators cannot drive it down. there was dire predictions of disaster by the IMF and the bankers, saying malaysia will be a pariah, but it was the best thing he did.

i think the bankers in the EU will  refuse to make any more concessions, they cannot afford to do it, otherwise spain and portugal will start to clamour for the same thing.  so if they wont concede to debt reduction, greece should get out of the EU, or might even be forced to take that option.

one thing, if greece exit the EU all the greeks now working in uk and other EU countries will have their work permit revoked and they will all have to go home. (will it be possible to evict all those greeks working in the EU?)  so it wont be all roses if greece exit, but i think anything is better than the present state of affairs.

added the new govt wants to change the all inclusive resorts which they say is not benefitting the local people as it stops tourists from using the local restaurants and services. the all you can eat and drink culture is making tourists behave badly.