Saturday May 26, 2012

JAPAN NEWS AND DISCUSSION

Do you think countries on the verge of bankruptcy, such as Greece, should pull out of the eurozone?

Have Your Say Nov. 04, 2011 - 05:33AM JST ( 9 )

Order by Time Order by Popularity

9 Comments

0

some14someNov. 04, 2011 - 07:18AM JST

No.
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smartacusNov. 04, 2011 - 07:40AM JST

Yes, and I would add Italy and Portugal to the list, too.
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gonemadNov. 04, 2011 - 09:28AM JST

No. The currency is not the cause of the crisis. A pull-out of the Euro would probably not only mean bankruptcy for the country itself, but also the complete banking sector of that country as well as large parts of the industry. Due to the devaluation of the new currency all debts in external currencies will skyrocket. No new credits will make the necessary adjustments even more painful.
1

Johannes WeberNov. 04, 2011 - 10:22AM JST

If Greece had a mostly stable, export oriented economy, it might be the best for Greece to pull out. They'd profit a lot from a weak currency then.

However, pulling out now will mean extreme losses for all European countries and banks. And it will mean poverty for many people in Greece.

Italy is a different case. Italy's north has a strong economy, they could actually pull off such a feat, but they do not really have to leave. Once they remove their governmental gridlock and tax wealthy Italians properly, they can repay their debts.
0

JapanGalNov. 04, 2011 - 11:40AM JST

I think they whole thing should be dissolved.
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SasorizaNov. 04, 2011 - 02:55PM JST

Yes, I hope so.
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oberstNov. 05, 2011 - 03:49PM JST

To stay in the Euro zone, the Greeks should learn to report their income " honestly ", otherwise Greece is just like a black hole .
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oginomeNov. 06, 2011 - 05:55AM JST

To stay in the Euro zone, the Greeks should learn to report their income " honestly ", otherwise Greece is just like a black hole .

Completely agree. Unlike other countries facing bankruptcy/bailouts, where the elite and the bankers royally screwed things up, in Greece, the populace was just as bad.
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WurthingtonNov. 15, 2011 - 10:32AM JST

I think the Eurozone and the Euro currency was a bad idea in the first place. Europeans taking 2 month long holidays and maternity leave is outrageous. Their social welfare system is too generous. If a country is borrowing to pay social entitlements then guess what... its not going to last forever and doomsday will come.