Greek Riots: 60,000 protesters taking to the street

Discussion in 'General Global Topics' started by Avatar4321, Mar 12, 2010.

  1. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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  2. Annie
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    Annie Diamond Member

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    Wouldn't it be great if the taxpayers rioted right back at the slackards that are up in arms for their perqs?
     
  3. slackjawed
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    slackjawed Self deported

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    The article says there are no "official estimates of crowds for demonstrations" and the press is said to be on strike. The photos at that link show lots of cops, but few protesters.
    Maybe bad, but only time will tell if the first reports, like this one are accurate.
     
  4. xsited1
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    xsited1 Agent P

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    Greece should go bankrupt. This is always difficult for many to understand, but bailing out Greece will reward over-spending politicians and make future fiscal crises more likely. Sound familiar?
     
  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    That would be civil war. And no I dont think it would be great.
     
  6. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Problem is once they go it's going to be a domino effect. Im not saying they should get bailed out. but it's not going to be nice when this stuff starts happening.
     
  7. slackjawed
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    slackjawed Self deported

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    Nope, it isn't going to be pretty if there is a "domino effect' among the developed worlds economies, that's for sure.
    However, it appears that the worlds economies are not really healing, and that might be what it takes for things to get better.


    and civil war would suck, I don't care who you are or where you live, civil war would suck.
     
  8. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Systemic risk. It's a financial term i learned in law school. I didnt really think of it much then, but then it was mostly shown as why governments need to get involved in the process. but what happens when governments fail? No one ever asks that question.
     
  9. slackjawed
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    slackjawed Self deported

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    I guess it is not that common for governments to fail unless it is Italy. I understand for awhile there they had a new government almost every year.

    Still, it must be rare. I do wonder though, what happens to a government's debt when they fail? If the 'new' government refuses to accept the responsibility to pay it, is it just a great big default?
    My grandfather had some US Confederate bonds, and except for the collector value, they were worthless, as there was no government left to pay them off.

    So, what happens when governments fail............looks like we might just find out.
     
  10. elvis
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    elvis BANNED Supporting Member

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    This situation should devalue the euro and strengthen the US dollar.
     

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