12-03-2019, 02:24 PM
21
Re: EU Debt Crisis
Originally Posted by Solasch
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No. After the ECB allows for it, greece can print the banknotes. It is the ECB, under mandate of europarliament, considers beforehand the feasibility of such an action. The purpose is to avoid a similar situation as in 2008. The UK too benefits from this procedure.
The UK has the BoE - no problem for us. All Greece can do is borrow, like the rest of the Eurozone.
There is no centralised treasury either for the Eurozone ... think about it.
12-03-2019, 03:20 PM
22
Re: EU Debt Crisis
Originally Posted by Bread
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Greece does not have its own central bank. How can it print its own bank notes ?The UK has the BoE - no problem for us. All Greece can do is borrow, like the rest of the Eurozone.
There is no centralised treasury either for the Eurozone ... think about it.
The problems in thePortugal, Italy, Ireland, Greece and Spain (PIIGS in EU) (the European Debt Crisis) are not caused by a "strong" euro- they are the result of bad economic policy and bad fiscal policy in those nations, especially relative to their northern neighbors in the eurozone. A currency devaluation will not by itself change those conditions.
12-03-2019, 03:22 PM
23
Re: EU Debt Crisis
Originally Posted by Solasch
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The exports from the*Eurozone*as a whole are quite*globally competitive*- they don't need to devalue their currency to sell more stuff. They already sell quite a lot.The problems in the*Portugal, Italy, Ireland, Greece and Spain (PIIGS in EU)*(the*European Debt Crisis) are not caused by a "strong"*euro*- they are the result of bad*economic policy*and bad*fiscal policy*in those nations, especially relative to their northern neighbors in the eurozone. A*currency devaluation*will not by itself change those conditions.
Greece can reduce the value of the Euro by selling cheaper olives.
Priceless !
13-03-2019, 12:02 PM
24
Re: EU Debt Crisis
Originally Posted by Bread
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Stop crying Were paying our debt back. Because we can .... unlike Spain Ireland Portugal Italy Greece .....
I've already explained to you how central banks work..
We are not paying our debt back, in fact it is increasing.
13-03-2019, 01:30 PM
25
Re: EU Debt Crisis
Originally Posted by Bread
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Yep - you completely don't understand any of this do you.Greece can reduce the value of the Euro by selling cheaper olives.
Priceless !
https://www.bbc.com/news/business-47547065
13-03-2019, 03:24 PM
26
Re: EU Debt Crisis
Originally Posted by Solasch
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Bread, you needn't worry. https://www.bbc.com/news/business-47547065
Because anything is better than nothing
13-03-2019, 09:43 PM
30
Re: EU Debt Crisis
Originally Posted by Solasch
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No thank you. I'm coming to live in the UK. It seems to be a paradise. And such kind people!
Well, your always welcome to come for a beer or two with me if you ever venture over to sunny Suffolk.
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