Are the Greeks already printing Drachmas? So says a completely unverified tweet from a random Twitter user. Really, what better source could you possibly ask for?
The Internet is alive with buzz on Greece exiting the Euro (see #grexit for a sip from the firehose). Sadly, there seems to be no buzz at all on reigning in the cradle-to-grave European welfare state that caused the crises in the first place.
More Grext/European debt crises news:
The Fraud of Austerity.
The European debt crises as the world’s longest root canal with the world’s dullest dental drill.
How lovely: diseases unknown to Europe are making a comeback thanks to the Greek government’s colossal mismanagement.
Problem: Greece’s government will seize their citizens’ Euros to forcibly convert them into Drachmas. Solution: Withdraw your cash in Euros. Problem: Burgler’s have figured this out too.
Spain’s Prime Minster: Screw the long term Euro plans, I need the European Central Bank’s sweet low rates right now.
Maybe because his government just pumped €9 billion into failing banks.
Who’s most exposed to the grexit? Italian and Spanish insurers.
There’s no conflict between real austerity and pro-growth polices. Too bad no one in Europe is willing to try them.
Wait, The Guardian actually printed an editorial by John Bolton? (“And the moon became as blood…”) It’s a good one, too:
“Growth” to social democrats means growth in government’s size and reach, not growth in the real economy. This approach directly contributed to our current predicament; and more of the same will only exacerbate it.
Tags: Euro, Europe, European Central Bank, European Debt Crisis, Greece, grexit, Italy, John Bolton, Spain, Welfare State
This entry was posted on Thursday, May 24th, 2012 at 12:06 PM and is filed under Budget, Economics, Foreign Policy, Waste and Fraud, Welfare State. You can follow any responses to this entry through the RSS 2.0 feed.
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