comment on greek referendum from igm, page-39

  1. 11,779 Posts.
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    The Greek people are in a no win situation.

    No matter what happens the bureaucrats and fat cats will continue to squirrel away all the country's euros.

    If the people choose to default they will be paid in drachmas directly from the printing press and pretty soon they will need a truck to take their pay packet home. (At least they wont have to bother buying toilet paper anymore.)

    If they choose not to default then its a vote of confidence in the austerity measures and they can expect to do more and more work for less and less euros; whereas the bureaucrats and their mates will continue to fill their pockets with bailout funds.

    Soon everyone will be thinking: "Hmmm, better withdraw all our money from the bank before it gets turned into drachmas!" => CRASH!

 
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