After the bailout: Is Greece still doomed?

Greece has only 1 way out. Drop out of the EU and go back to the Dracma. The currency will immediately be devalued. The Greek people will continue to receive their pay and buy local goods using the dracma. All imports will be more expensive. All export will be cheaper, spurring growth. Tourism will be cheaper and therefore increase. It is the ONLY way for Greece to recover.

Greece should default just like Iceland did. The financiers get compensated for risky loans by getting higher returns, they should expect some to fail that's why they get the high returns. Why should the Greek people suffer for the bad judgement of the financiers. Iceland is pulling out of trouble, Ireland is getting worse. There is no doubt that default would be better for the Greek people.

I can't understand how if a small country like mine defaults will leed to chaos in financial markets and the dissolution of the euro currency bloc. We are only the 5% of EU economy. Am I missing something here ? Oh yes, I do smell : bankers.

One day soon America will wake up and find itself in the same situation, Oops, I guess it already has.

Is Greece still doomed? Yes as is the rest of the world as we know it. Every economy is hurting. Some more than others this is like watching dominos fall is slow motion. When one falls and it doesnot matter who it is. Greece, Irland, Portugal, Italy, Spain the next one will be knocked down. Once the economic region collapses. The same thing that happened with countries will happen to regions. The whole world will be effected time to use common sense live with in your means retire as much personal debt as possible. And remember all you really need is food, clothing and shelter and for some medication. This is the hand writting on the wall take heed. The key to wealth is learning to be happy with what you have.

Sadly, the home of democracy has hardened into a socialist state. Too many people with hands in the public till. Funny how our sitting President espouses an American economy more like Europe's... If it doesn't work there...it can't work here.

What a surprise that Ezra K., like Paul K., believes that there is nothing wrong with adding astronomical debt by throwing more money at the problem until a "recovery" rolls around. Any recovery that would be capable of restoring the US, or Greece, to their former largesse is years away, if ever, yet they just keep spendiing, and spending, and spending...

the greek people will throw out the whole govt. in the spring elections and the new one will refuse to go along with the imposed measures. then what can the rest of the EU do, take the loss or what, invade? but the bankere will have most of their money by then.

Just wait what will happen when all the ex-SU countries that they added to the EU go the same route!

I like waffles.

Yep, more money down the crapper.....

Pimps get their girls addicted to dope. The troika is transferring wealth from those who can't do anything about it to those who won't do anything about it. Why do you think they call it dope?

just great. banks buying more time to figure out more ways to screw greece.

Multilateral
Organization of
Banks.

They gave Greece an offer they couldn't refuse.

Wait until the US debt collapses. The US has $211 trillion in unfunded liabilities and is continuing to grow as Obama and the Democrats attempt to buy more votes in November.

Read the article about how the debts of all the austerity countries are increasing. Austerity is stupid. They are just prolonging the agony, leading to a lost generation. OUTLAW SOVEREIGN DEBT!

Yes they are just like Obamas America will be. Hope and change rotflmao!

Unless the Greeks are willing to cut back an excessively large government workforce they will find it impossible to collect enough taxes to pay them.

Yes, Greece is still doomed. They have run out of other peoples' money.

We will swap wally-world and sarah palin for greece-plus a trade future consideration...!