SSTT
Monday 18th June 2012 5:15pm [Edited]
Southampton
1,548 posts
Quote: Renegade Carpark @ June 18 2012, 3:10 PM BST
If Greece leaves, their country will collapse entirely..
No, it won't. Whatever happens, the area of land currently known as "Greece" will still be there. The government and infrastructure might get a bit smashed up, though.
Quote: Renegade Carpark @ June 18 2012, 3:10 PM BST
- no one will lend them money..
Yes, they will. They'll dress it up with "crisis talks" etc., they'll all be private jetting around the world for "crucial conferences" etc. etc.; they might pull them out of the euro, they might devalue into a new currency, but they'll eventually "agree a deal" to lend Greece more "money" (credit), i.e. another loan with interest against collateral, that can never be paid back - ever.
Quote: DaButt @ June 18 2012, 3:22 PM BST
Translation: We don't want to pay back the money we borrowed, but please prepare to hand us more cash so that we can continue to live beyond our means.
That's how our economic system works: banks lend "money" (that they don't have and that actually doesn't exist), with interest against collateral. Everyone's in hock: individuals, companies, countries.. and we/they can never pay it back - ever. That's why usury was illegal for so many centuries - the credit loaned with interest means that it can never be paid back. The debt just gets passed around and eventually the moneylenders end up owning everything.. at which point they start again and issue loans for people to buy the stuff that the moneylenders have appropriated: property, land, commodities etc.. and so it goes on and on.
We're all in it together.