Greek Riots: 60,000 protesters taking to the street

Annie

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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?
 

slackjawed

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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.
 

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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?
 
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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?

That would be civil war. And no I dont think it would be great.
 
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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?

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.
 

slackjawed

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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.
 
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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.

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.
 

slackjawed

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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.

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.

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.
 

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

Actually, i think our modern age of stable governments is an odd blimp in the history of Mankind.

Im sure the government will refuse to pay the debt. And people will go to war over the money they feel the other nation has stolen from them.
 
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This situation should devalue the euro and strengthen the US dollar.

Probably, but then it makes it that much more expensive to pay off the debt.

And then there is the fact that one nations debt can easily cause a cascade of debt problems for other nations.

There are some people who seem to think our debt will never come due. and it's going to be hell when it does.
 

elvis

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Meh, the majority of the Greek people support the government.

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

I finished covering my euro short today. It's going up before it goes back down again.

well I meant ultimately, like when the EU has to completely bail Greece out, if that is the direction they are going.
 

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