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By (user no longer on site)
over a year ago
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"My bank manager thinks I'm greek as I absolutely refuse to pay off my overdraft. "
Aye, just renegotiate. After all, he was the one stoopid enough to lend it to you. Why should you suffer? |
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By (user no longer on site) OP
over a year ago
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"I know I shouldn't but I do rather admire the balls of the new Greek PM (not literally I hope you understand!).
And why shouldn't u exactly?"
Advocating walking away from all of your liabilities and saying screw you to all of your creditors goes against what I believe to be right. But I keep wondering what happens if that is what they do, they refuse to pay and start over. I assume they will be thrown out of Europe (possibly not a bad thing), they would re-establish the Dracma (again, not necessarily a bad thing) and will look to sort out their economy without the burden of huge interest payments. Can anyone seriously see Germany invading demanding its money back? I suspect they will end up getting some of what they want and we may well see a rise of similar leaders in the rest of Southern Europe who are willing to give a big 2 fingered salute to the ECB and others. |
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By *gNeMan
over a year ago
Harrogate |
"
Advocating walking away from all of your liabilities and saying screw you to all of your creditors goes against what I believe to be right. But I keep wondering what happens if that is what they do, they refuse to pay and start over. I assume they will be thrown out of Europe (possibly not a bad thing), they would re-establish the Dracma (again, not necessarily a bad thing) and will look to sort out their economy without the burden of huge interest payments. Can anyone seriously see Germany invading demanding its money back? I suspect they will end up getting some of what they want and we may well see a rise of similar leaders in the rest of Southern Europe who are willing to give a big 2 fingered salute to the ECB and others."
The problem is that they cannot possibly pay back that debt.. World debt is at over 200 trillion. There is less than 10% of that amount in circulation. |
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By (user no longer on site) OP
over a year ago
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"
Advocating walking away from all of your liabilities and saying screw you to all of your creditors goes against what I believe to be right. But I keep wondering what happens if that is what they do, they refuse to pay and start over. I assume they will be thrown out of Europe (possibly not a bad thing), they would re-establish the Dracma (again, not necessarily a bad thing) and will look to sort out their economy without the burden of huge interest payments. Can anyone seriously see Germany invading demanding its money back? I suspect they will end up getting some of what they want and we may well see a rise of similar leaders in the rest of Southern Europe who are willing to give a big 2 fingered salute to the ECB and others.
The problem is that they cannot possibly pay back that debt.. World debt is at over 200 trillion. There is less than 10% of that amount in circulation. "
You owe a little it is your problem, you owe a lot it becomes the banks problem!  |
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I'm happy that the UK exposure to Greek debt is minimal.
If Greece just walks away from its debt it's basically just taken the piss out of the rest of Europe.
Realistically if they break away then whatever currency they create will be night on valueless. Buying stuff from Greece will be great ( if they don't get hit with massive trade tariffs) but when they try and buy stuff from the rest of the world they will be screwed. |
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By (user no longer on site)
over a year ago
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"I know I shouldn't but I do rather admire the balls of the new Greek PM (not literally I hope you understand!).
And why shouldn't u exactly?
Advocating walking away from all of your liabilities and saying screw you to all of your creditors goes against what I believe to be right. But I keep wondering what happens if that is what they do, they refuse to pay and start over. I assume they will be thrown out of Europe (possibly not a bad thing), they would re-establish the Dracma (again, not necessarily a bad thing) and will look to sort out their economy without the burden of huge interest payments. Can anyone seriously see Germany invading demanding its money back? I suspect they will end up getting some of what they want and we may well see a rise of similar leaders in the rest of Southern Europe who are willing to give a big 2 fingered salute to the ECB and others."
So if I take out a loan in your name from a loanshark at an extortionatley high interest rate,then proceed to pocket 90% of said loan giving u the 10% left over Are you honestly telling me you'd be happy paying that loan back..
The money isn't even real,it was fabricated outta thin air by america on the promise that their grandchildren would pay it off when the time comes |
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By *gNeMan
over a year ago
Harrogate |
I'm not sure that it's ever the banks problem lol. They just invent more currency, inflate the economy lobby the government. While we sit here with no wage rises due to there clever 'austerity' measures.  |
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By *gNeMan
over a year ago
Harrogate |
"I'm happy that the UK exposure to Greek debt is minimal.
If Greece just walks away from its debt it's basically just taken the piss out of the rest of Europe.
Realistically if they break away then whatever currency they create will be night on valueless. Buying stuff from Greece will be great ( if they don't get hit with massive trade tariffs) but when they try and buy stuff from the rest of the world they will be screwed. "
Each person in the uk now owes an estimated 78,000. Can you pay that?? Just because we are pretending to comply with the system, doesn't mean we are paying our 'creditors' any more than the Greeks. It's the very greedy and the very powerful that are taking the piss out of me and you!! |
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By (user no longer on site) OP
over a year ago
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"I know I shouldn't but I do rather admire the balls of the new Greek PM (not literally I hope you understand!).
And why shouldn't u exactly?
Advocating walking away from all of your liabilities and saying screw you to all of your creditors goes against what I believe to be right. But I keep wondering what happens if that is what they do, they refuse to pay and start over. I assume they will be thrown out of Europe (possibly not a bad thing), they would re-establish the Dracma (again, not necessarily a bad thing) and will look to sort out their economy without the burden of huge interest payments. Can anyone seriously see Germany invading demanding its money back? I suspect they will end up getting some of what they want and we may well see a rise of similar leaders in the rest of Southern Europe who are willing to give a big 2 fingered salute to the ECB and others.
So if I take out a loan in your name from a loanshark at an extortionatley high interest rate,then proceed to pocket 90% of said loan giving u the 10% left over Are you honestly telling me you'd be happy paying that loan back..
The money isn't even real,it was fabricated outta thin air by america on the promise that their grandchildren would pay it off when the time comes"
But they needed to loan because they had run out of cash. Not saying I would be happy about it, but if I agreed to it I would expect to honour it. Other countries like Ireland have got on with it and are starting to come out the other side. It is a complex issue. |
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