EYE-BALL Guru on – The Greek Bailout …

February 16, 2012
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Title:
The GREEK Bailout…
The hesitation over implementing the GREEK bailout is warranted.  What happens if after the money is handed over Greece descends in a Syrian type civil war as the population rebels against the measures taken to secure the financial bailout?

The World is watching and given the public responses in Egypt, Libia, and other Nations in the region – there is real reason to pause.  Would you blindly help out your unknown neighbour financially if he and his wife were going through a divorce?

The bailout Nations know that their own economies may go the same way at some time in the future – who will be left to bail them out.  You have to feel for the Greeks – the heartache of getting the austerity measured through Parliament – and now they wait – the riots if the bailout fails will measure whether the bailout decision was right or wrong …

There is much more at stake here than helping a neighbour … as a Banker would you extend additional credit to someone who will only go out and spend or gamble the funds away – with no possibility of repaying …

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Contact your Local Federal Representative if you want to have your say on this or other matters – please use the links below to find your Local Member – or you can just post a comment below and let off some steam.

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The EYE-BALL Guru …

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  1. Herman
    February 17, 2012 at 1:10 am

    The mayhem and violence achieves absolutely nothing. The destruction of value goes on unchecked.

    The saga of default has now played out far too long. The IMF is left to try to achieve some type of logic, where anarchy has taken off. The Greek elections will only fuel this anarchy and that is not till April.

    Greece will need to reintroduce their own currency, the new drachma (by any other name) but thereafter there will be critical issues to address.

    Ricardian economics has never been doubted, but the Euro Union was a perfect example of the case for free trade. I expect that when France, Spain, Italy, Greece and Portugal are all out of the European currency trade embargoes will occur on nationalist stands. It is being discussed already in France. Eastern Bloc countries will not want a bar of it. The rising living standards of Hungary, Poland and so on can not be ignored. The Mediterranean nations are the real losers under Euro, and Eastern bloc economies the real winners.

    For the last decade the Hungarians and Poles have been investing heavily in Dalmatia. They have actually created capital pools under the Eurpean Union. Czech Rep. and Slovakia and Romania have used their access to capital to further renewal of antiquated infrastructure. All enjoy a rising standard of living, that is why the former Yugoslav states (Croatia and Serbia) want in.

    I can forsee a Northern Euro Union, and another former Euro union trade bloc (Mediteranean, Ireland will revert to UK). This will lead to Paris v Berlin with a neutral London go between. Try to imagine how the banks that have bought up all the national banks might decouple. A neutral Austria would do well. Yet Austria would never be really neutral as far as Germany is concerned. The Lowlands countries too will stay with Berlin. As will the Norse.

    I think it might be time to turn the page. And don’t go buying any cheap Soc Gen shares, not yet.

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