Re:Greece debt crisis: Eurozone summit strikes deal
by gizmo on Monday July 13, 2015 @09:13AM
(#9877863)
> What do you call a decade of easy access to super cheap credit?
A poison pill. It's like giving free booze to an alcoholic. It's certainly not kindness.
Re:Greece debt crisis: Eurozone summit strikes deal
by StavrosK on Tuesday July 14, 2015 @11:33AM
(#9885682)
Exactly what gizmo said. It's the super-cheap credit that got us here...
Re:Greece debt crisis: Eurozone summit strikes deal
by mseebach on Tuesday July 14, 2015 @01:13PM
(#9886444)
That's easy enough to say in retrospect. The greek government actively and aggressively sought out membership, to the point of cooking the books, then eagerly availed themselves of the credit.
> The terms of the deal for Greece have been pretty onerous, you lose control of your currency with no equivalent upside.
No upside? What do you call a decade of easy access to super cheap credit? Also, these terms are not unique to Greece, no other Euro-zone country has control over it's currency.