Greece given world's lowest credit rating
- Thread starter danmand
- Start date
Yup, it's all France's and Germany's fault. If France had fought better in WW II, then maybe Germany wouldn't have invaded Greece. What in blazes did Nazi Germany want in Greece anyway? Did they have oil, fertilizers, etc.?The usual answer is that there are nasty consequences for failing to repay loans... but in the case of Greece? France and Germany will take care of it, so why bother with payment?
BTW: Did you know that Cleopatra was Greek?
If the question isn't retorical, they were bailing out the Italians whose own invasion was going far from swimingly, as a matter of fact they had been driven back by the Greeks into Northern Albania. One thing it did do was delay the German invasion of the Soviet Union, which prevented them from among other things getting to the oil fields before the winter set it in. . . . . .What in blazes did Nazi Germany want in Greece anyway? Did they have oil, fertilizers, etc.?
I think not all historians agree on this point.One thing it did do was delay the German invasion of the Soviet Union, . .
For one thing from a few sources at least, General Mud was hanging around later than usual in 1941, an invasion on time might have been a bit of a clusterfuck. Nothing like a slogging through loads of mud at a beginning of an invasion to highlight der Schwerpunkt.I think not all historians agree on this point.
That and those darn zombies.
Not into WWII history. But I think the heroic resistance of the Partisan army ofI think not all historians agree on this point.
Yugoslavia had as much to do with the delay of Operation Barbarossa.
Athens, Greece (CNN) -- Greece is set to press ahead with new taxes, public-sector job cuts and the sale of everything from airports to gaming licenses after Greek Prime Minister George Papandreou narrowly survived a confidence vote early Wednesday.
Papandreou is planning to cut 150,000 government jobs, slash the salaries of those who keep their posts, and slap new taxes on property, yachts and swimming pools.
He's trying to win confidence from international lenders in order to get a second bailout package to keep the government from defaulting on debts.
But the austerity package is very unpopular. Weeks of protests forced Papandreou to shuffle his cabinet last week, leading to the confidence vote, which he won 155-143.
European markets were slightly down Wednesday morning, though it was not clear if that was in response to the Greek vote.
International lenders have demanded Greece cut spending, lay off public workers, increase taxes and raise 50 billion euros ($71 billion) through selling off state-owned enterprises in exchange for another bailout deal for the cash-strapped nation.
Papandreou is planning to cut 150,000 government jobs, slash the salaries of those who keep their posts, and slap new taxes on property, yachts and swimming pools.
He's trying to win confidence from international lenders in order to get a second bailout package to keep the government from defaulting on debts.
But the austerity package is very unpopular. Weeks of protests forced Papandreou to shuffle his cabinet last week, leading to the confidence vote, which he won 155-143.
European markets were slightly down Wednesday morning, though it was not clear if that was in response to the Greek vote.
International lenders have demanded Greece cut spending, lay off public workers, increase taxes and raise 50 billion euros ($71 billion) through selling off state-owned enterprises in exchange for another bailout deal for the cash-strapped nation.
If by much you mean none, then you would be utterly right.Not into WWII history. But I think the heroic resistance of the Partisan army of
Yugoslavia had as much to do with the delay of Operation Barbarossa.
The first partisan unit with 79 members formed on the day Operation Barbarossa started, never mind that it took time for the resistance to get into full swing.
Barbarossa would have been over before there would be any real effect.
Part of being a devotee of Clio is knowing that not everyone is going to agree about everything involving the interpretation of events.I think not all historians agree on this point.
However, I think that the preponderance of evidence is that it had at least some effect in delaying it since the opperations in Greece took longer than the German High Command thought they would.
Thank goodness the Brits got their 50,000 troops out in time.However, I think that the preponderance of evidence is that it had at least some effect in delaying it since the opperations in Greece took longer than the German High Command thought they would.
The 850 men of the 8th Regiment of the Greek Army which was made up largely of young recruits from Crete, Officer Cadets and Gendarmes (and poorly equipped) where the ones who through their ferocious fighting enabled that evacuation to Egypt.Thank goodness the Brits got their 50,000 troops out in time.
While I agree that history is not the main factor here (as Germany was destroyed after the war and others also where damaged by the war ) but likewise other countries are doing alright with the same economic conditions: Germany, Norway, Denmark have similar systems - 4 to 8 week vacations, early retirement and the rest. Greece fall is not from internal conditions alone. In fact, with Iceland, Greece, Ireland and England they are not alone, nor will they be the last. This is a world wide economic web where one disaster leads to another etc. The safest (and proven) solution are the ones that worked during the Pacific crisis, isolation and removal from the world till things cool down.
Historically there is very little "bad stuff" that happens when a nation does not pay off its loans - unless it depends on trade - and then you get hyper inflation. But if your military is powerful then this may not happen. Forgive me this or this or we will nuke you seems to work.
It is known as "Rabbit tracking" and it is a TERB speciality. Then again you should know that.What are you guys on about?
What has that to do with credit ratings?
So long as France and Germany agree to continue paying their allowance I don't see why they would. On the other hand, if they had to pay their own bills they would face certain ruin.Will Greece fall victim to 'disaster capitalism'?
Will they give up all social programs for loans?
Without French or German bailouts it would become impossible for the Greek government to raise money. They would simply run out of cash. They might WANT to maintain their social programs--but they would literally not have the funds on hand to pay the bills. Their bonds are already running close to 30% interest and would jump far higher if the prospects of French and German money disappeared.Not necessarily true, there have been recent examples of countries that have refused IMF loans and thrived.
Fortunately for Greece it appears to be cheaper for France and Germany to buy them off than to let them fail. At least for now.
Buy American (Or Canadian in my case). If we all did that whenever possible, then the trend would slowly reverse. Alas, I doubt the masses will....It may come to that as the USD continues to lose value and slowly fade away due mainly to globalism. Globalism is slowly gutting/destroying America better than the commies ever could....:Eek:
