Quote:
Originally Posted by heero_yuy
Greece is just putting off the day when they get blown out of the Euro. Austerity has contracted their economy by over 25%. How on earth can they pay back a payday loan with another payday loan. We all know where that can lead.
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I think they'll probably get a debt write-off or 'restructuring' at some point when it's more political tenable for the creditor states to do so. At the moment the amount of attention it's receiving combined with Spanish elections this year makes it difficult for the Eurozone but ultimately I think they all know that would be the way forward.
The benefits of Greece leaving the Euro are questionable as well. There is no real advantaging in devaluing the currency of a country which doesn't export much and imports a lot. It's really only dealing with their debt and tourism that would benefit and the former might be addressed at a later date anyway.