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Greece: Better and better
  • 34 Replies sorted by
  • brianlucebrianluce

    LOL. So, you think that this countries main difference is in institutions? ////////////

    All I can tell you is some of planet's top young economists at places like MIT and Harvard are doing research on this very subject and THEY don't think it's funny.

    Here's your first clue: North and South Korea. What's different about them fundamentally? Institutions.

  • Vitaliy_KiselevVitaliy_Kiselev

    You need to travel more. Spend a month in Bangladesh then go spend a month in Denmark and then tell me they are the same.

    LOL. So, you think that this countries main difference is in institutions?

  • brianlucebrianluce

    And do not support pointless talks about "rotten and corrupted" institutions. //////////

    That's unfortunate because there is new and powerful evidence that corrupt institutions are the root of social injustice that characterize these times. Apathy and cynicism won't help the world go 'round.

    I do not say that they are pristine. I just say that thay are not much better or worse then institutions in other countries. /////////////

    This is patently untrue. You need to travel more. Spend a month in Bangladesh then go spend a month in Denmark and then tell me they are the same.

  • Vitaliy_KiselevVitaliy_Kiselev

    I do not say that they are pristine. I just say that thay are not much better or worse then institutions in other countries.
    And do not support pointless talks about "rotten and corrupted" institutions.

  • brianlucebrianluce

    @Vitaliy I don't follow you, you're saying it's false, that Greek institution are actually pristine and above board and that there's a fictitious narrative spreading around the planet that corruption is rampant on a Global scale when in fact the opposite is true?

  • Vitaliy_KiselevVitaliy_Kiselev

    Greeks social institutions are rotten and corrupt and until that changes, Greece is basically fucked

    I think it is common fairy tale, I mean "institutions are rotten and corrupt" :-) This will be soon repeated again and again around the world.

  • brianlucebrianluce

    IMO, the primary issue with Greece isn't elections, the Euro, austerity or investment, it's that Greeks social/political institutions are rotten and corrupt and until that changes, Greece is basically fucked.

  • karlkarl

    I think that "staying or leaving" the Euro zone is not the most relevant of questions for Greece, the most relevant thing is how the situation can be managed without entering a state of destructive, violent civil unrest.

    IMHO Greece should have defaulted already many months ago, for at least these two reasons:

    1) Investors will learn only the hard way that loaning money to a country means taking a risk of not being paid back. It's that simple. If not as many investors had loaned money as easily to Greece in the past, Greece would have been forced to consolidate its finances much earlier, while their debt was not as huge.

    2) If there ever was an occasion to explain to the average Greek what the consequences of defaulting are, this occasion was missed. Only when Greece actually defaults, its people will know that all those things they could import for cheaply loaned money will simply stop to be shipped. That won't be pleasant, but it is also a chance for their local economy, which will have a chance to manufacture and sell things in Greece that formerly where imported.

    Maybe Greece will leave the Euro, maybe not, that doesn't really make a difference to the height of their remaining debt which they loaned in Euro.

  • ahblezaahbleza

    The situation with Greece is getting worse, at least according to the betting agents, who are refusing to take more bets about Greece leaving the Euro....

    http://www.athensnews.gr/portal/9/55468

    And the BBC is reporting that top European bankers are openly discussing their exit.

    http://www.bbc.co.uk/news/world-europe-18046280

    Personally, I think it's the only play for their economy. They should have left six months ago. Then things can improve. Now that France has changed governments to one with anti-austerity leanings, I can't see the Germans continuing to bully the rest of Europe into maintaining the Greek status quo pro ante, and German voters are unlikely to have the stomach to pay for it themselves.

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