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What next for Europe? If/when the Greeks vote no, Surely they will leave the EU and go back to there own currency? That will then be like a house of cards for then rest of Europe.

 

Weather you want to be in the EU or not, Greek voting No is not going to help them or anybody else. What is the answer???

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They vote no, default on their debts, drop out of the Euro - and possibly all the way out of the EU. Then, with a devalued currency and free from the straitjacket of EU red tape and legislation, their tourist industry will be able to return to its pre-EU profitability and they'll take back the market share they've lost to Turkey, Egypt and the rest of the North African mediterranean tourist destinations.

 

Imported products will be relatively much more expensive, so Greeks will buy domestically produced goods and support Greek jobs rather than send their hard earned overseas. But their exports to the rest of the world will be much cheaper and much more competitive in their export markets - the profitability enjoyed by their olive oil, cheeses and other agricultural products (which sell all over the world - not just in the EU) will rise substantially.

 

As a result of both of these effects, they will be awash with euros, pounds, dollars, and even yuan, their balance of payments will be well into double digit percentages in their favour........

 

If you're Greek, what's not to like?????

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And they all live happily ever after :lol:

 

The Greeks have not been paying for themselves since WW2, they should have never been allowed into the euro, They have never sold enough of anything on the world market, if they had they would not have bothered to join the free market in the first place inky

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And they all live happily ever after :lol:

 

It's at least as likely a scenario for success as the current EU "if we just have lots of meetings about it maybe it'll get bored and go away" policy for tackling the crisis caused by the inherent structural problems within their own edifice.

 

The Greeks have not been paying for themselves since WW2, they should have never been allowed into the euro,

 

Admitting that your precious EU decision making process is flawed, Lt??????

 

They have never sold enough of anything on the world market, if they had they would not have bothered to join the free market in the first place inky

 

So, you're saying that the free market is only attractive to second rate economies which can't survive on their own in the big wide world????? Is that what it's for then? Dragging us all down to the lowest common denominator????

 

PS. Selling stuff you've made abroad is only ONE of the ways to trade and boost a countries balance of payments. In the case of Greece, their domestic tourism industry was a HUGE source of foreign currency and trade to them - before euro membership crippled it and priced it out of the marketplace, that is.

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Tourism and shipping between them supply employment for over 50% of Greeks, agriculture another 22%.

 

So what you so blythely dismiss as "olive oil and tourists" already represents nearly 3/4 of the jobs in Greece.

 

I think they should play to their strengths and build upon the economic sectors in which they're already successful, don't you?

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Your arguement sounds about right to me Inky, and no doubt it will to the Greeks. As I recall, around half the population of Athens, moves out to the Islands for the Summer season, providing employment and foreign revenue - OK, perhaps the taxman doesn't see much of it, but it seems a better way for N/Europeans to "bale them out" by enjoying cheap holidays, rather than paying for the EU to carry them. :wink:

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Look at it this way.... before the Greeks joined the EU, they plodded along nicely relying on tourism and a few organic exports for their money. They didn't pay much in the way of tax, but things weren't too bad if you were a Greek chap..

 

Then along comes membership of the EU in 1981 and finally membership of the Euro in 2001.....

 

less than ten years later, the country is bust. Forced to price everything in line with European standards which means that their days of being able to offer cheap package holidays is finished. Cheap fags and booze are over and as has been pointed out, the former Greek holidaymakers are now sunning themselves in the warmer and cheaper climates of Turkey and Egypt...

 

Unfortunately, in their quest for world domination, the powers that be in Europe, made the fatal error of trying to align all the countries under one currency while overlooking the fact that huge industrial and agricultural nations like Germany and france have absolutely nothing in common financially with tourist hotspots like Spain, Portugal and Greece...

 

The Greeks will say no. There will be a re-vote (as they will be ordered to take) and they will still say no and then the whole lot will collapse; Angela Merkell will be ousted by the Germans at their next election which is not too far away and then we will see a mass exodus back to their own currencies once again. Germany can then go back to the Mark; the price is still shown in Marks on most shop reciepts even now, over ten years after the Euro.... that tells you something surely.... I don't remember our shops having £sd on receipts after we went decimal in the 70's and if they did, they certainly weren't there 10 years later!!

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