Monday, May 21, 2012
The Greeks brought back the Trojan Horse
In 2000 the Greeks attempted to join Euro but were turned back by the ECB due to the high debt to GDP ratio. After some discussion with an investment bank, Goldman Sachs, the resilient Greeks were able to hide or repackage the debt to keep it off their balance sheet. They repackaged their debt and metaphorically hid it inside the Trojan Horse and then presented it to the ECB. The ECB graciously accepted the wooden horse, and now virally the debt has escaped and is invading the victimized city of Troy potentially disintegrating the entire Euro as a currency.
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15 comments:
I think this is a great comparison of the Greeks and the Trojan Horse. I do feel that the Greeks shouldn't of been let into the Euro becasue of their debt. It was a bad decision to hide their debt and then start a recession in Europe.
I agree with Paul, the Trojan horse analogy is really great I think. the Greeks shouldn't remain a part of the Euro. their debt is just infecting the Eurozone and causing an epidemic!
I agree that the Trojan Horse analogy is fitting. I think Greece needs to leave the Euro because they didn't qualify for the Euro and Goldman Sachs shouldn't have hid the debt because in the long-run it doesn't benefit anyone. Greece leaving the Euro is the best option for Greece and the Euro.
It's easy to speculate on the "what-if" scenarios, but what comes to my mind is the question of whether or not Greece would have had more of an incentive to cut spending and balance the budget in order to get in the Union fairly... and also would these measures would have been more managable with lower debt and better global economy
The ECB should force the Greeks to leave the euro because of how they originally got into the European Union and also to prevent the euro from totally collapsing.
yes paul i could agree that the comparison between the Greeks and the Trojan horse are relevant but the reasons maybe for a different cause, i think that a country in 77 billion debt made a ok decision to better the country overall
Emmy Hattle
As i stated in a previous comment, the ECB should have forced Greece out of the euro once they found out Greece got in by shady, debt concealing ways. Hindsight is always 20/20, but this decision should have been obvious years ago.
I think that the comparison of the Greeks joining the Euro to the Trojan Horse accurately expresses the situation. I also think that Greece should leave the Euro since they joined it through corrupt actions.
It really is interesting to compare the story of the Trojan Horse to Greece being accepted to the Euro however, it's truly unfortunate how do to the country's fiscal irresponsibility they have helped to all but destroy the European economy.
It is interesting that countries like Italy and Portugal are experiencing some financial difficulties and instability similar to those of Greece. Is it possible that these "pigs" also used unlawful practices to gain acceptance into the Euro or is just because of the contrast between the "pig's" smaller, weaker economies and the strong, prosperous economies like France and Germany?
I vote to take the Trojan horse analogy farther, you should make a music video. It is no secret that the Greeks cheated their way into the Euro. I think it seems second nature to drop them not only because they were dishonest but also is brining down the hole ECB.
I also believe the Trojan Horse is a great analogy, also since they cheated their way in I believe they should be kicked out now due to their debt and not even have a conversation about it.
Greece should be removed from the euro not only because they cheated, but a strong dollar is not what their economy needs. It would benefit both the Greeks and the ecb/countries in the euro.
After the analogy of the Greeks and the Trojan Horse and also the debate on the topic of Greece and the euro, I agree that Greece should be kicked out. Greece should not have been admitted to the euro in the first place and it would benefit both Greece and other euro using countries if they left.
The Trojan Horse analogy is very fitting for the Greek's situation. Now that the ECB is aware of what Greece did they should enforce some sort of punishment. They cannot try to fine them because Greece doesn't have the money to pay them but maybe they could force Greece to reorganize by reducing the amount of money they are giving them.
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