[quote=briansd1][quote=KSMountain]
Overall – we *have* options. Now whether we have leadership and honesty and a willingness to not get re-elected (or to vote for those who tell us painful truths) is another matter.[/quote]
All good points, KSM.
The funny thing about Greece, is that as backlash, the Greeks might end up putting a right-wing government in power that will cut government spending even more.
So what the heck are they revolting at their current socialist governement for?
The Greeks have few options. Either leave the Eurozone and have currency devaluation… or have internal deflation of wages and other goods.
The Greeks have to find ways to become more competitive to export more and become a cheaper tourist destination to attract more foreign money.
I have a friend who comes to America every year on a shopping trip because everything is cheaper in America, thanks to dollar devaluation (the Greeks won’t have that option unless they leave the Euro and return to the Drahma, which would cause a whole set of problems; so, right now, internal deflation is the solution).[/quote]
From what I can tell, the Greeks want to leave the Eurozone and devalue their own currency. This would make them more competitive, increase exports, and make Greece a cheaper tourist destination. Problem solved. 🙂
