News Update :

Remove Greece's Euro or they will literally destroyed (Video)

Monday, May 28, 2012

It is always interesting to hear Nigel Farage, who has a background in finance, speak and answer questions from European politicians who have a background in. .... policy. Although underestimated Nigel devastating, it will be for Greece to leave the euro in the short term (bank runs, food and energy shortages, import prices up), he did a great job to explain that this is the only long term option.

The longer they wait the more difficult short-term pain will be. If Greece itself removed from the euro and helped their new currency to float downward (it would probably depreciate about 60% or more, as discussed Nigel), and they allowed their bad banks organized by liquidating bankruptcy (protection of savings accounts) with new banks emerging with strong balance sheets clean, what kind of person would possibly keep their money in Greece?

Me. I would.

And I would not be alone. Like the smart money has already left Greece to come to the devaluation, the smart money would be the first to go after the devaluation took place. The capital of New would enter the country to buy assets at distressed prices and businesses would immediately open up within the borders of Greece to enjoy the benefits created by exporting the currency down. This new production of goods would eventually lower the cost of living within the Greek borders, and it started from an economic boom. It would just take time.

In the long term (3-5 years) Greece could be one of the strongest economies in Europe. They just need a politician who is willing to be honest with people. Who knows, if this were to happen in Greece may well be an attractive destination for moving someone like me who is business savvy and looking for a place to raise a family.

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