Greek Election

[dune]

Exit polls show...

 

New Democracy 27.5 - 30%, Syriza 27 - 30%

[bridge too far]

http://www.bbc.co.uk/news/world-europe-18478982

[dune]

I'm really staggered as to why so many Greeks want to remain in the Euro. A return to the Drachma would be a huge stimulus for investment. They have been fed so much b/ll**** on this issue. There is no light at the end of the tunnel on their current path.

[bridge too far]

I guess leaving the euro would result in the devaluation of the consequential drachma. Since, I think, they import more than they export then presumably the devalued currency would lead to inflation. Their erstwhile Prime Minister was saying this on the BBC this morning and citing particularly the cost of fuel.

 

It's interesting I think that most European business leaders (in Greece and elsewhere) want to retain the euro.

[scotty]

I guess leaving the euro would result in the devaluation of the consequential drachma. Since, I think, they import more than they export then presumably the devalued currency would lead to inflation. Their erstwhile Prime Minister was saying this on the BBC this morning and citing particularly the cost of fuel.

 

It's interesting I think that most European business leaders (in Greece and elsewhere) want to retain the euro.

 

Yeah, right. The same business leaders who cheered to the rooftops and creamed their pants when we went into the ERM and the stockmarket soared overnight because we were on track for entry into the euro. And incidentally, the same parasites who made fortunes betting against the pound while we were in it. The single biggest economic mistake this country has made in living memory, and the businessmen could only see their own short-term ends.

 

The greeks should get out of it right now. Their economic policy is already being dictated by germany; if this election goes the wrong way for the greeks than its fair to say that the cradle of democracy is now controlled by the germans politically as well.