If National wins ...

[winner69]

major
I am surprised by your veiled contempt of Yannis Varoufakis considering you are an economist. Or is your CV/ better than his?? I would be surprised, but prove me wrong.

MVT models himself on a flamboyant soldier Major Gustavus Ferdinand von Tempsky (sure that what he told us years ago) who was prominent in the Maori Wars but who eventually met his comeuppance (shot in the head) in the Taranaki Wars.

However the Majors latest posts may unveil his real von Tempsky Prussian/ German roots ....and their contempt for things Greek

[winner69]

Here's Greece's finance minister in 1953, canceling 50% of Germany's debt. Because it was the right thing to do.

[BlackPeter]

Here's Greece's finance minister in 1953, canceling 50% of Germany's debt. Because it was the right thing to do.

Look winner, maybe you should first take a history lesson or two before you continue to spread the Left spin ...

http://www.bloombergview.com/article...esn-t-i5fdca2y

Germany had brought it on itself, of course, but it was no longer ruled by the Nazis: It was doing its best to expiate its past, work that still continues and that defines the consensual, value-based nature of German leadership in today's Europe. The creditors felt they needed to help that effort.

The circumstances under which Greece accumulated its debt are strikingly different. After restoring democracy in 1974 after seven years of military rule, the Greek government splurged on a full range of socialist benefits, including higher pensions and universally accessible health care, as well as on a big government. It financed a railroad that had more employees than passengers; even before the military coup, it started paying salaries to Orthodox priests, and it still does so, though there has been a pay cut after international creditors demanded it. For three decades, Greece ran unsustainable fiscal deficits, borrowed to cover them -- and then lied about them to Eurostat so it could join the euro in 2001.

There is a not-so-subtle difference between voluntarily taking on debts made by previous, rogue governments at a currency rate favorable to the creditors -- and heedlessly accumulating debts of one's own while concealing the true size of budget deficits. In the first case, the implication is harsh self-imposed discipline and penitence. In the second case, profligacy.

[Daytr]

I would suggest Greece just became a better place after the no vote & if they walk away from their debts.
Plenty of countries before them have done it, including the US, England, Russia & more recently the likes of Iceland which is now doing very nicely, thank you. Don't get me wrong I don't think you should walk away from your obligations, if you can, but there is a point of no return & Greece has reached that & Europe allowed it to happen& should never included Greece in the flawed Euro in the first place.
Once the dust settles, it will prove to be a very good place to invest, as is likely to be super cheap.
If MVT was an economist (which I have my doubts due to some of the understanding in his posts) he would know that it is the IMF & EU that have socialized the Greek debt by bailing out the commercial banks & spreading the debt across the European taxpayer & member countries of the IMF.
Now that's socialism at its best. The right wing are all for each person for themselves when things are going well, but when it turns to crap they want bailouts & Joe citizen to foot the bill. Seems when the going gets tough they are just lefties at heart. ;-)

[craic]

I suppose the high level of sentimental support from the left wing here for a failed left wing government in Greece is understandable but the bottom line is that they have lived off others and now the others are saying enough is enough and keeping their hands in their pockets. Corruption exists the like nowhere else. Pensions at 50? and the like. I went to Wuppertal Elberfield in Germany in 1955 with my army unit and the most striking thing about the place was the rebuilding - not just during the day. The scaffolding was covered with lanterns from dark and they worked all night and on the weekends. There were no beggars on the spotless streets and the ordinary Germans worked their way out of the mess of war with speed.

[RGR367]

Guys, have a read on what Germany did with their debts https://medium.com/@gavinschalliol/t...d-7b5e7add6fff

[Daytr]

So with government debt under National virtually tripling in seven years, does that make them a failed government as well? :-)

I suppose the high level of sentimental support from the left wing here for a failed left wing government in Greece is understandable but the bottom line is that they have lived off others and now the others are saying enough is enough and keeping their hands in their pockets. Corruption exists the like nowhere else. Pensions at 50? and the like. I went to Wuppertal Elberfield in Germany in 1955 with my army unit and the most striking thing about the place was the rebuilding - not just during the day. The scaffolding was covered with lanterns from dark and they worked all night and on the weekends. There were no beggars on the spotless streets and the ordinary Germans worked their way out of the mess of war with speed.

[BlackPeter]

Guys, have a read on what Germany did with their debts https://medium.com/@gavinschalliol/t...d-7b5e7add6fff

Sure - if Piketty is saying it, than it must be true. I guess he tries to live off "Karl Marx's" fame and even copied the name of Marx famous book. Difference is - Karl Marx produced a lot of new and thought provoking ideas, even if history proved him wrong.

Piketty is of the same ilk and political stable as Tsipras. Hard-left. Interesting as well that they don't bring facts in this article, the article is only a collection of Piketty's views. Sure - he is entitled to his views as everybody else, but why is this newsworthy?

[Sgt Pepper]

I suppose the high level of sentimental support from the left wing here for a failed left wing government in Greece is understandable but the bottom line is that they have lived off others and now the others are saying enough is enough and keeping their hands in their pockets. Corruption exists the like nowhere else. Pensions at 50? and the like. I went to Wuppertal Elberfield in Germany in 1955 with my army unit and the most striking thing about the place was the rebuilding - not just during the day. The scaffolding was covered with lanterns from dark and they worked all night and on the weekends. There were no beggars on the spotless streets and the ordinary Germans worked their way out of the mess of war with speed.

You seem to have forgotten to mention Marshal Plan aid which was $1.48 billion for West Germany

[craic]

Ididn't forget anything. I simply point ou that the Germans I saw at that time were a hardworkink crowd, intent on putting their country back together after the huge destruction of the bombing of the Rhine industrial areas - as in Wuppertal. All I am seeing of the greeks is protesters and beggars and "old" folks, some in their fifties, lining up for their pensions. They are a soverign nation. Why shouldn't the others step back and let them sort their affairs out. The money they owe is already lost but no one owes them more handouts.

You seem to have forgotten to mention Marshal Plan aid which was $1.48 billion for West Germany