Posted on 10/19/2012 7:28:05 PM PDT by Olog-hai
How would their exit cost $22 Trillion, is there that much funny money in the system?
Why should it "cost the world economy" anything if several European countries were to leave the EuroZone? Or even if the EuroZone were to go out of existence altogether, forcing a return to the status quo ante in Europe?
I confess that I just don't get it...
I say its unavoidable. The global economy is a house of cards and debts which cannot be repaid. The collapse is inevitable, so you might as well “bring it”.
Methinks they are too invested in their stocks and 401Ks to REALLY believe it could all collapse........so they attack the message.
I dont understand, I am told that Greece has oil and nautural resources that can be sold, even islands. Why are not these issues being considered/
Which would be answered by the demands for a more centralized Europe, which is their answer to everything
22 trillion dollars... can that really be any worse than the money being bled right now as they continue to prop up this failed project? End it all. Shut down the EU, burn the flag, burn the Euros, put its bureaucrats on trial for treason and forget this whole mess.
Greece will be fine. It’s not like they haven’t gone through worse during their long, illustrious history.
Would you be okay with the USA selling off pieces of its states to China to pay off our debts?
Like I said: it’s scaremongering. Take note that the answer to this problem is the same answer that the eurocrats give to everything: “More Europe”, IOW more centralization and essentially the destruction of the nation-state (save one).
Better ask the Eurocrats. They are the ones who want to keep all these countries in, due to their fanaticism over a “united Europe”.
It's an over-simplification, buy let's say Greece, et al, are EU 17 trillion in debt -- with their bonds held by banks and other country's treasuries.
If they default on that debt en masse, then EU 17 trillion in assets have just disappeared from those banks and treasuries.
By virtue of the default many of those banks will become insolvent, resulting in even greater losses.
Granted, the casee probably is that Greece et al will probably never be able to support the interest payments on those bonds or, heaven forfend, actually redeem them. So, default is a liklihood sooner or later, anyway. But, in the meantime, maintaining the fiction keeps EU 17 trillion in bonds in the asset column.
The socialists simply cannot seem to get it through their heads that they have run out of other people’s money.
That happened a long time ago. But the euro was designed to create a crisis, so they could come charging in with some ready-made “solution” to save the day (which they have not yet revealed).
PIGS should leave these UNaccountable Eurocrats, declare their independence, and set up as constitutionally limited republics renouncing socialism and triumphing individual rights. They could borrow our constitution. We’re not using it.
That will happen anyway, by hook or by crook, unless the US starts
to get on a serious energy-independence track. Chicoms are investing in Alberta oil sands companies and in several other projects.
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