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Re: Poor old Greeks

By: faul in ALEA | Recommend this post (0)
Mon, 28 May 12 12:01 AM | 129 view(s)
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Msg. 08104 of 54959
(This msg. is a reply to 08103 by Cactus Flower)

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Argie's reminds me of these lyrics....

Brezhnev took Afghanistan
and Begin took Beirut
Galtieri took the Union Jack
and Maggie, over lunch one day
took a cruiser, with all hands
apparently to make him give it back

Take all your overgrown infants away somewhere
And build them a home, a little place of their own.
The Fletcher Memorial Home for Incurable Tyrants and Kings.

They can appear to themselves every day
On closed circuit T.V.
To make sure they're still real.
It's the only connection they feel.
"Ladies and gentlemen, please welcome, Reagan and Haig,
Mr. Begin and friend, Mrs. Thatcher and Paisly,
"Hello Maggie!"
Mr. Brezhnev and party.
"Who's the bald chap?"
The ghost of McCarthy,
And the memories of Nixon.
"Good-bye!"
And now, adding colour, a group of anonymous latin-
American Meat packing glitterati.


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The above is a reply to the following message:
Re: Poor old Greeks
By: Cactus Flower
in ALEA
Sun, 27 May 12 11:36 PM
Msg. 08103 of 54959

The Argentinian debt crisis of maybe a decade ago. They defaulted.

No one would lend them money after that, of course. To finance themselves, they sold a bunch of major assets to foreign interests. One of the buyers was a Spanish company which purchased an energy concern.

Now Argentina is nationalising them. The Spanish are furious, of course.

What this means for Greece is that investors will be very cautious about pursuing the same cycle. Even so, Greece is bound to default as it exits the Euro.

Outside the Euro area, Iceland has done something similar in terms of defaulting on its debts and is faring a bit better that Ireland which hasn't defaulted.

The problem comes if a country as large as Spain or Italy defaults. Then we have a major global problem.


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