tag:blogger.com,1999:blog-5882645467378797266.post2170163293182144343..comments2023-07-17T11:55:51.363+02:00Comments on ObservingGreece: On One Hand... And On The Other...kleinguthttp://www.blogger.com/profile/12491174042954678023noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5882645467378797266.post-75020667412778431362017-04-28T05:32:17.542+02:002017-04-28T05:32:17.542+02:00What do you mean the majority of Greeks don't ...What do you mean the majority of Greeks don't want Grexit? What are the figures?Dean Plassarashttps://www.blogger.com/profile/13405528205926966179noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-8231436916058940412017-04-27T13:31:52.431+02:002017-04-27T13:31:52.431+02:00You point to another key difference between a comp...You point to another key difference between a company and a country (which, in my opinion, is the explanation why there are not bankruptcy laws for countries), namely: a bankrupt company eventually disappears. See Enron. A country cannot disappear. There will always be a Greece and Greeks living there. Put differently, there will always be someone against whom the creditors can try to execute their claims.kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-86022629687169080872017-04-27T09:49:10.332+02:002017-04-27T09:49:10.332+02:00Restructure or liquidate? It's a rhetoric ques...Restructure or liquidate? It's a rhetoric question. When you have not been able to install a management that could present a viable business model, what should you restructure to?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-17397402241047143542017-04-26T11:45:16.071+02:002017-04-26T11:45:16.071+02:00The comparison between Greece and a bankrupt compa...The comparison between Greece and a bankrupt company is an interesting albeit not really fitting one. With a bankrupt company you have essentially two choices. Either you restructure the debt when you believe in the company having a chance to turn around or you liquidate and close it when the business model has no chance for thriving.<br /><br />How about the Greek business model of avoiding any reforms of the public administration or of the pension system while at the same time taxing the private sector to death? Is that worth a debt restructuring or is liquidation the way to go?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-48378189700593909602017-04-25T09:25:22.547+02:002017-04-25T09:25:22.547+02:00@ Phoevos.
It worked in July 2015.
It worked in th...@ Phoevos.<br />It worked in July 2015.<br />It worked in this month's negotiations.<br />It is logical to assume it will work as long as a majority of Greeks don't want Grexit.<br />Lennard<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-26419786655939531292017-04-24T19:42:24.426+02:002017-04-24T19:42:24.426+02:00So you argument is that Grexit which is horrible f...So you argument is that Grexit which is horrible for Germany but uber beneficial to Greece is a lever for Greek reforms?<br /><br />Your logic is very flawed. It's exactly the opposite of you believe it is.Dean Plassarashttps://www.blogger.com/profile/13405528205926966179noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-17494693100333667492017-04-24T15:34:37.331+02:002017-04-24T15:34:37.331+02:00"The problem is that the IMF’s basic charter ..."The problem is that the IMF’s basic charter does not enable the Fund itself to give debt relief and the Eurogroup, driven to no small degree by German finance minister Walter Schäuble, opposes all forms of debt relief on ideological grounds, as well as on the cold calculation that explaining this to the German electorate before elections this year may be tricky."<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-53552150810978599402017-04-24T12:42:13.214+02:002017-04-24T12:42:13.214+02:00You fail to address the argument that "the th...You fail to address the argument that "the threat of Grexit could be essential to maintain incentives for reform and adjustment in Greece. This argument cannot easily be dismissed. There is little doubt that it was the experience of July 2015 that brought the present Greek government back to the negotiating table and created the political basis for the current program". The Peterson Institute (quoted above), in their recent excellent analysis, readily admits that they cannot answer that question either. You seem to dither between "Greece will never change" and "give them another chance".<br />PS. "If Greece was a company" is not a good comparison. Yes it would have received debt relief if deemed viable, but it certainly would not have been allowed to elect its own management, and 4 times at that.<br />LennardAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-80989209869804229662017-04-22T11:04:57.700+02:002017-04-22T11:04:57.700+02:00I feel embarrassed by such kindness. Happy belated...I feel embarrassed by such kindness. Happy belated birthday too.Dean Plassarashttps://www.blogger.com/profile/13405528205926966179noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-66040409688136635732017-04-22T09:01:56.666+02:002017-04-22T09:01:56.666+02:00Happy birthday!Happy birthday!kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-79888792581372539892017-04-21T20:41:31.743+02:002017-04-21T20:41:31.743+02:00The false narrative that investors and internation...The false narrative that investors and international markets behavior is based on Athens deliverables is total BS. Here is economics lesson 101: no one would ever invest in a recessionary economy such as Greece when austerity is controlled outside the investment target country. No one and I mean NONE.<br /><br />The debt restructuring is another total BS. Greece just recorded a 3.9% primary suplus to GDP. It did so under the wrong advice by both the IMF and the eurozone clowns. These criminals we refer to as lenders only pushed Greece into a further recession in order to achieve targets that it needed not to (in other words not the agreed upon targets) because Greece could have easily achieved the agreed upon performance without more brutal taxation and further austerity. Which goes to show you that those magnificent idiots who pretend to advise Greece have no clue what they are talking about. Which also means that Greece has a primary responsibility to her own citizens to totally ignore these euroclowns in the future.<br /><br />I hope this is perfectly clear, n'est ce pas? Dean Plassarashttps://www.blogger.com/profile/13405528205926966179noreply@blogger.com