Global Economic Trend Analysis warned us about Greek riots, an increase of Greek debt, and warned about the possibility of a spreading to the rest of Europe.
Edward Hugh, from Barcelona, Catalonia, remind us that Greek problem is not only purely economy of Greece, but their credibility, and how uneasy are who's going to lend money to Greece.
German voters are notably uneasy about lending money to Greece, and a sizeable majority of them are against any form of aid. Reticence on the part of Angela Merkel’s coalition partner also makes obtaining parliamentary backing for the loan difficult, and the FDP senior spokesman on financial questions, Frank Schaeffler, stated bluntly this week that either Greece needed to intensify its austerity plan or it should leave the Euro.The Big Picture says there's a talk about Greek aid package. More than €40-45bn expected, will be €120 bn. Find out more at 120b euros for Greece?
Jacob Goldstein, NPR, worried about debt crisis spreading to other European countries claimed that 'Greek crisis is like Ebola':
"Contagion has already happened," Angel Gurria, the secretary general of the OECD, told Bloomberg News today. "This is like Ebola: When you realize you have it, you have to cut your leg off to survive."Should be cuts in government spending? Zennie thinks that military spending (3% of Greek GDP) should be reduced to 1%:
In the view of this blogger, the one best target is Greece military spending. It's 3 percent of the Gross Domestic Product; it should be reduced to one percent or less through a multi-year elimination of non-essential spending. Event if Greece has to go without a military save for paid soldiers, that move would make a large dent in spending.Will Greek debt default lead to a collapse of the Euro? ask us BSE India. Find out the answer at his website.
While ones wants Greece out of Eurozone, and others inside, The 'Helicopter Economics Investing Guide' offer us a third point of view: Why not try dollarization?
Dollarization is the generic term for when one country uses another country's currency. Panama and Ecuador for instance use American dollars as their official currency, although neither is part of a currency union with the United States. In early 2009, Zimbabwe dealt with its hyperinflation problem by allowing foreign currencies to be used in the country. One of those currencies was the euro.
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