MercoPress. South Atlantic News Agency
Greece is not Uruguay; the Athens debt case is more like Argentina, says economist
Past voluntary debt re-profiling in Latin America have worked to varying degrees, but “soft” restructuring is not going to solve Greece's debt problems, according to Stuart Culverhouse, chief economist of frontier markets specialist Exotix. Read full article
Comments
Disclaimer & comment rulesI have no idea why he is comparing Greece to Argentina,
Jun 03rd, 2011 - 11:40 pm - Link - Report abuse 0Or to that matter any South American country,
if you wish to compare, then he should have compared with other European countries, like Ireland Portugal and Spain who are in deep trouble,
and even perhaps the UK or France and others who will be in deep trouble if they keep bailing out these failed states, their own governments got them into this mess, then their own governments should dig them out, or go under, hit the floor then start over, you either rein in your debts , or the debts will sink you, comparing them to south American countries is just hiding their own defaults, just an opinion .
And Greece is getting another bailout. Broken economies “lend” more money “printed from thin air” to broken economies, who's debt are growing and growing. My god, shows how incompetent they are in Europe.
Jun 04th, 2011 - 01:17 am - Link - Report abuse 0Well Briton, if you did some research (oh wait you can't) about nations who has been in this position, you would understand that Greece has two options to save itself from thieves, IMF. Watch out, same thieves will pay more visits in the UK and scream “Austerity Measure” are needed to save the UK. In otherwords, raise taxes, retire later (until you're dead) and cut services, you'll get less for paying more.
option 1
Greece should default and renegotiate/restructre it's debt (what Argentina did)
Option 2
Default, get out of the Euro and go back to the drachma but back it up by gold and silver. They can do it, but the Germans, French, EU, IMF (=USA) are fighting it and prefer to rape Greece.
the reality is becoming visible for all people in the so called west. They are broke economies with neo-liberal (crooked socialists) policies.
Greece has not problems as the same as once Argentina had !
Jun 04th, 2011 - 09:59 am - Link - Report abuse 0------------
EXTERNAL DEBTS ( Uruguay/ 2010) millions US $
(S) short term........(L) long term
Government ..10,693.....(S) 0.........(L) 10,693
Central Bank ...838... (S) 96.........(L) 742
Banks ......0........(S) 0...........(L) 0 ........
Real Sector ......1,445.......(S) 51........(L) 1,395
GROSS EXTERNAL DEBT (Uruguay) = 12,977 millions US $
http://fleasonparade.tumblr.com/post/3052373538/percentage-of-gdp-to-external-debt-default-is
Jun 04th, 2011 - 03:02 pm - Link - Report abuse 0a bit dated but comparisons may be useful.
Fido- for once I find myself mostly on your side! Greece has to sort its problems out and not rely on others to continually bail them out. UK is getting on with seriously sorting its debt crisis, if the Greeks have not got the guts to do the same - then they go either to the wall or out of the euro - or both.
Jun 04th, 2011 - 03:25 pm - Link - Report abuse 0Same with any other nation, maybe a little bit of initial help like UK gave to Ireland yes - but not adifinitum!
Well fido at least you agree with the truth [for once]
Jun 04th, 2011 - 04:34 pm - Link - Report abuse 0but as i said, Greece should thus go it alone, the only basic reason i can think of why France and Germany will do everything to save Greece ,
Is the fact that these two want a united states of Europe, and if the euro fails, and countries start collapsing, then there dream will collapse,
The UK should have pulled out years ago, but sadly our government is so corrupt and brain washed with Europe, that they would rather WE go under, rather than pull out, that’s the truth, and you like the truth,
Europe is in a bad way, and this makes you very happy, but i would rather be truthful and laught at, then tell the people lies upon lies, and live with the humiliation, but then isn’t this what most politicians do,
Whether they are European or South American, most are corrupt,
[[Honesty honesty--my country for some honesty, lolol
On a side note:
Jun 04th, 2011 - 09:28 pm - Link - Report abuse 0http://financesjournal.com/blogs/southern-europeans-worked-germans-4817.html
It goes to show the folly of those Northern Europeans who attribute their larger incomes and productivity vis-à-vis Southern Europeans to being more hardworking.
Maybe just working 'hard' is not enough.
Jun 05th, 2011 - 12:07 am - Link - Report abuse 0Perhaps working 'smarter' gets you to the winning line first. . . . . and as they say “Winner takes all”.
http://youtu.be/vY4VZr8Ox94
Jun 05th, 2011 - 03:05 am - Link - Report abuse 0anything thats anti british, the bad old guys,
Jun 05th, 2011 - 07:35 pm - Link - Report abuse 0and the rest are just passing by ??
briton, the link isn't anti british, it's just reality about what's happening in your nation. Something you refuse to realize.
Jun 06th, 2011 - 01:42 am - Link - Report abuse 0we know what is going on, but why then don’t you post demonstrations of [say] France, or the countries in the middle east, far east, Argentina, ect ect .
Jun 06th, 2011 - 11:08 am - Link - Report abuse 0Our demonstrations like most are just that, demonstrations, they have the right to demonstrate,
But some, like in Libya Egypt ect ect are very much different, with great loss of life,
You just show what you perceive as a impression of British way of life, , which of course is not true, ,
As more and more countries develop the traumas of disruption, dislocation and destabilisation that the global financial crisis, the arab nations' etc battles (regime change), the impact of desertification (climate change), we will see more and more nations in on-street conflicts with the forces of the state preserving law and order.
Jun 06th, 2011 - 11:49 am - Link - Report abuse 0Some causes will be peaceful, more 'valid' than others;
but some disruptions will be 'copy-cat' , sometimes 'piggy-back' on peaceful protest, and merely opportunistic in their violence.
But no nation will be immune from marches on the street - unless this is banned and backed by deadly force by the more extreme authorities.
Who saw “Too big to fail” (HBO series) .... your comments please if you did
Jun 06th, 2011 - 06:05 pm - Link - Report abuse 0Din't see it, but I guess “Too big to *be allowed* to Fail” was the real agenda.
Jun 07th, 2011 - 10:46 am - Link - Report abuse 0If Greece fails, the world's financial & trading structures do not go into spasmic collapse;
BUT, if USA fails, OK, the USA economy collapses - but many other nations around the world will suffer *disproportionately more*, and millions around the world will die .
No doubt ! Now , here in the US , people are talking about a second “bail out”, 4.5 million of homeowners are behind 3 months in their mortgages after the 6 million that already lost their homes .... what a disaster !
Jun 07th, 2011 - 12:54 pm - Link - Report abuse 0Commenting for this story is now closed.
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