But a North Yorkshire default puts the banks in North Yorkshire in jeopardy – Let us be honest, your not going to hear this, you would be classed as a complete idiot if you said this and yet people are constantly saying that a Greek default means the government should be kicked out of the Euro
For what purpose exactly?
The Greek government should have been allowed to default at the start and if the EU and the ECB wanted to do something then they should have been dealing directly with the parties that the default affected.
If a Greek government default put a German bank in jeopardy the the ECB and EU should be talking to that bank.
What exactly is the point in prolonging the charade by giving money to the Greek government so they can give it to the German bank.
There is no benefit to involving the Greek government in the process. I mean look at all the politics it has created over the last 7 years.
If the ECB and the EU want to burden themselves by helping the Greek government, let the Greek government default and take on the Greek government’s obligations.
Then they would cut out all these nonsensical Eurogroup meetings and Troika headlines.
But the Greek government must be taught a lesson some will say.
And for sure they will. If they defaulted.
The bailouts mean the Greek government is not being punished for creating the mess, they are being rewarded with the Troika involvement.
They have been given what appears to be unlimited time to reform while at the same time inflicting massive punishment on the innocent Greek voter.
How exactly do the bailouts help anyone and teach the Greek government a lesson?
The Greek government must be allowed to default, this is the only medicine that moves the game on.
The Greek government will be cut off from the borrowing markets for a short time.
This would have forced the government to carry out all the necessary reforms immediately, in 2008
From day one the Greek government would have had to have stop spending more than it takes in.
What has that got to do with the currency?
What exactly would the ECB have to gain from cutting Greek banks out of the Euro system post default.
How would that help the situation? How does actions like that foster trust in the Euro?
The constant wrangling between the governments and the ECB is 100% pointless and has turned into a complete farce and made all the parties involved look like a laughingstock.
Again. Let the Greek government default, force them to sort out their finances immediately and if the EU and ECB wants to pump billions into the system to help out the parties effected by the Greek default let them do it.
I mean they are doing it anyway and yet for some reason they want to complicate things by putting the Greek government in the loop.
Literally, the situation makes absolutely no sense.
So where did the term #grexit come from?
Who created that word?
Why did they create it?
Given that #grexit makes absolutely no sense why has the mainstream media latched onto it as a sensible response to a Greek government default?
And why has the term been bandied about for so many years with no apparent resistance from the media?
This is why I say the term #grexit is blantant propaganda.
The concept obviously makes no sense economically so there must be a poltical agenda at work. The governments and media are using the term to manipulate public opinion.
Question is, what is their goal?