Saturday, August 1, 2015
Back to Greece once again
So the Greece came back from the brink and decided somewhat mutely that it is better to stay in Euro then to devastate your economy and go into the uncertain future of drachma (the old Greece currency before the Euro), although I would like them to have control over their own destiny and have their own currency (but who am I to say that since I am nobody in this case but anyway), according to my analysis, it will just buy them some time before they will be back for one more if they don’t drastically change their life style or don’t have their debt reduced or eliminated entirely. The package that was being offered to them is around 94 billion dollars and it will last for three years but it would not all go into Greece’s treasury as they say what goes in must come out and that is exactly what will happen. The amount of debt that Greece holds right now and the amount of aid being offered (as above) would be just recycling as whatever aid would come to Greece would be paid back to the creditors of the old debt and the retired debt would be replaced by new debt to be paid later on (if it ever gets paid). I believe that Greece are very nice people and they should have the chance to start over again and it is better for them to have their own currency and then build their countries on the basis of exports and other manufacturing and work hard to regain their rightful status in the world. They should renegotiate their debt and if not working out properly should leave the Euro and strike on their own. I know that it will require more sacrifice and hard work but at least they will not be swinging from one crisis to another and holding their breath every couple of years on their finances.