British campaign organizer: “Right come on guys, let's just get this shit sorted.”
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As Greece falls in arrears, one man wants to crowdfund €1.6 billion payment
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It is a well known fact that the worst way out of a financial crisis is austerity. It's like losing your job so you sell your car and then have no way to get to a new job. Yes, I managed to squeeze in a car analogy, that's how internet I am.
The thing is, Greece has been mismanaged for a long time, and there isn't much they can do to fix it now. The money is gone and the people are getting hungry. IMHO the best option is to exit the Eurozone and go back to their own currency so they can inflate the crap out of it to get out of the debt problem and get their economy rolling again. The downsides are numerous and painful, and it may not solve their long term governance problems, but the only other option seems to be more counterproductive austerity and more throwing good money after bad from all of the other Eurozone members. Some people say that Greece leaving will cause a domino effect with all of the other weaker members, but I don't think that's necessarily the case. I think the EU can make the case that since Greece cooked their books so much when they entered the Eurozone that it was actually a mistake to allow them in and this is just correcting the past mistake.
The thing is, Greece has been mismanaged for a long time, and there isn't much they can do to fix it now. The money is gone and the people are getting hungry. IMHO the best option is to exit the Eurozone and go back to their own currency so they can inflate the crap out of it to get out of the debt problem and get their economy rolling again. The downsides are numerous and painful, and it may not solve their long term governance problems, but the only other option seems to be more counterproductive austerity and more throwing good money after bad from all of the other Eurozone members. Some people say that Greece leaving will cause a domino effect with all of the other weaker members, but I don't think that's necessarily the case. I think the EU can make the case that since Greece cooked their books so much when they entered the Eurozone that it was actually a mistake to allow them in and this is just correcting the past mistake.
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