again shows how the Greeks are losing hope, and who wouldn't be. I do like the mention of Cyrus though, it has kind of flown under the radar. But as article says, "easily rescued if need arose", which could be likely.
If the banking system has lost a third of its total deposits over the past two years than why is it unlikely for the Greeks to leave the euro? Wouldn't these withdrawals encourage Karolos Papoulias to get Greece to go back to the drachma?
After reading this article, I still think that Greece shouldn't of been let into the Euro. The graph on this articel shows that even before Greece started in the Euro that they were in trouble financially.
I agree with the article and I think Greece has to start making major financial decisions such as pulling out of the Euro. I think the ECB needs to contain the panic of the Greeks so it doesn't spread to other countries like Spain and Italy and they need to do it fast.
I dont think that the greeks are losing all hope, they just know the economy is not currently in good standings so obviously the people of greece are just aware of the current situation they are in.
I think that Greece should leave the Euro since it would benefit both of them. This article further portrays the importance and benefit of Greece leaving the Euro due to the little confidence Greece has in itself and its economy
This article made many interesting points however, it still comes down to one thing: until the Greeks learn how to change their spending habits, I fear that Greece will be in financial trouble for quite some time
It is undeniable that culture plays a large part in a countries economy. Unfortunately greeks values do not aline with what it takes to thrive as a country. However, the ECB can not help, it is a cultural change that the people of Greece will just have to endure, and by staying part of the Euro they are simply a burden.
This article just gave me more knowledge on why the Greeks should not even be in this situation or the Euro. I think an important quote is "The direct financial costs of a Greek exit to the country’s creditors are more manageable than they were, but they are still large" this shows how the Greeks should be bumped out now without further ado.
Ever since Greece joined the euro their economy gas been going down and they qre really just dead weight for the euro because they contribute very little, while posing a major risk.
The Greeks have clearly lost faith in their country. Greece could be starting a snowball effect across Europe which would not be good for the ECB. The ECB needs to figure out a way to fix the problem so that they don't have a bigger one.
13 comments:
again shows how the Greeks are losing hope, and who wouldn't be. I do like the mention of Cyrus though, it has kind of flown under the radar. But as article says, "easily rescued if need arose", which could be likely.
If the banking system has lost a third of its total deposits over the past two years than why is it unlikely for the Greeks to leave the euro? Wouldn't these withdrawals encourage Karolos Papoulias to get Greece to go back to the drachma?
After reading this article, I still think that Greece shouldn't of been let into the Euro. The graph on this articel shows that even before Greece started in the Euro that they were in trouble financially.
I agree with the article and I think Greece has to start making major financial decisions such as pulling out of the Euro. I think the ECB needs to contain the panic of the Greeks so it doesn't spread to other countries like Spain and Italy and they need to do it fast.
I dont think that the greeks are losing all hope, they just know the economy is not currently in good standings so obviously the people of greece are just aware of the current situation they are in.
I think that Greece should leave the Euro since it would benefit both of them. This article further portrays the importance and benefit of Greece leaving the Euro due to the little confidence Greece has in itself and its economy
This article made many interesting points however, it still comes down to one thing: until the Greeks learn how to change their spending habits, I fear that Greece will be in financial trouble for quite some time
It is undeniable that culture plays a large part in a countries economy. Unfortunately greeks values do not aline with what it takes to thrive as a country. However, the ECB can not help, it is a cultural change that the people of Greece will just have to endure, and by staying part of the Euro they are simply a burden.
This article just gave me more knowledge on why the Greeks should not even be in this situation or the Euro. I think an important quote is "The direct financial costs of a Greek exit to the country’s creditors are more manageable than they were, but they are still large" this shows how the Greeks should be bumped out now without further ado.
Ever since Greece joined the euro their economy gas been going down and they qre really just dead weight for the euro because they contribute very little, while posing a major risk.
I'm on my phone Mr Su so there's gonna be spelling mistakes
The Greeks have clearly lost faith in their country. Greece could be starting a snowball effect across Europe which would not be good for the ECB. The ECB needs to figure out a way to fix the problem so that they don't have a bigger one.
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