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SeaBud

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  • SeaBud commented on Dr. Paul Price's article 22 hr ago
    Fun Fun Fun ...'Til Her Daddy Takes The T-bird Away
    The popular press has made Germany into the villain of the current Greek drama. Why, they ask, should Berlin be dictating how the Greek government...
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    SeaBud 07-06 20:29
    • Batbeer - Northern Europeans invited a high risk participant into the EU and then loaned them money repeatedly. I feel for the disciplined Dutch, German etc taxpayers who are going to eat these loans but your leaders can't blame the Greeks in total when they were making shaky loans. I don't mean to label the Greeks "dogs" (except in an economic sense) but an old axiom applies - when you lie down with dogs, don't be surprised if you get fleas.....

      My point regarding the original article is that casting moral aspersions on just the Greeks is oversimplified, ignores severe Greek structural limitations and ignores the economics that should largely dictate behavior here. This is an economic issue and, I think, we probably agree that Greece should not be in the EU.
  • SeaBud and hvt2107 became friends 23 hr ago
  • SeaBud and 20punches became friends 23 hr ago
  • SeaBud commented on Dr. Paul Price's article 07-06 11:35
    Fun Fun Fun ...'Til Her Daddy Takes The T-bird Away
    The popular press has made Germany into the villain of the current Greek drama. Why, they ask, should Berlin be dictating how the Greek government...
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    SeaBud 07-06 12:35
    • This is grossly oversimplified.  You are analogizing a kid running around in a car with people losing their retirement pensions, unemployed people being reduced to poverty and potentially homelessness and starvation?  

      When a creditor and a borrower make loans, there are two parties.  The creditor must acknowledge risk of default and that explains the premium.  I do not exonerate Greece in any way from their responsibility, but the EU made the loans over time knowing the risks. Greece is also hamstrung by not being able to devalue its currency, a typically confused parliment and long term social issues.  Also, how would the US citizens on here feel if other countries dictated internal policy?  

      Plenty of blame to go around here (certainly on the Greeks for being undisciplined - but again, the creditors knew that) and I'm personally not sure Greece should have been in the EU from day 1. If you believe all debts must be paid then there is little explanation for rate variablilty. Silly to cast this complex economic equation, with many competing moral undertones, in a simplistic moralistic light.

       

       
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