Why does everyone care about Greece so much?

jacknapier · May 15, 2012, 2:18am

Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... .. Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... .. Greece ... Greece ... Greece ... Greece ... Greece ... Greece ...

That's all we've heard in the news since like 2006. At least it seems like it. OK, Greece can't pay off their debt. We get the idea. Why doesn't the market just shrug it off by now? It's like the financial equivalent of the boogey man or something. Everytime they want to scare the market so they can buy they flood the news with BS about Greece's debt.

tomorton · May 15, 2012, 4:11am

You're right in a way, the Greek economy isn't that important (outside Greece and the adjoining neighbour countries who will be their major trade partners) but it's the significance of a Greek default from the Euro that is going to be the key. If Greece have to pull out of the Euro, it will show the EU put in a faulty system design, the people who run it can't detect rule-breakers or help the members who are struck by circumstances. If the EU Euro countries can't help one of the smallest economies in the system, which was known to be sick and corrupt before the credit crisis, what can they do for any larger problem? i.e. we will all see the Emperor has no clothes.

Hoggums · May 15, 2012, 4:16am

People don't care about Greece. They care about their money - which directly or indirectly is invested in Greece.

scose-no-doubt · May 15, 2012, 4:17am

because it involves vast sums of money and could lead to a liquidity crisis as global institutions attempt to calculate their exposure.

Liquid validity · May 15, 2012, 4:29am

Does make you wonder how long this farce will continue.
Other that outright failure, the only sensible option to me
is to dump the single currency and move to at least 2,
preferably 3 or 4 eurozone currencies.
That way global trade is still simplified compared to the multiple splintered
currency system of old.

If that happened though, Germany wouldn't rake in as much for selling arms
and cars to the eurozone...

Martinghoul · May 15, 2012, 4:46am

People care about Greece not because Greece itself is important. It's because the outcome of the Greek debacle has implications for the rest of the Eurozone.

new_trader · May 15, 2012, 5:24am

WTF? Can you imagine what a pizza would be like without Kalamata olives?!

Hoggums · May 15, 2012, 5:38am

Quote:

Originally Posted by new_trader

WTF? Can you imagine what a pizza would be like without Kalamata olives?!

Nice ?

May 15, 2012, 2:18am	#1
jacknapier Senior Member Member Since Mar 2012 113 Posts	Why does everyone care about Greece so much? Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... .. Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... .. Greece ... Greece ... Greece ... Greece ... Greece ... Greece ... That's all we've heard in the news since like 2006. At least it seems like it. OK, Greece can't pay off their debt. We get the idea. Why doesn't the market just shrug it off by now? It's like the financial equivalent of the boogey man or something. Everytime they want to scare the market so they can buy they flood the news with BS about Greece's debt.

May 15, 2012, 4:11am	#2
tomorton Legendary Member Member Since Feb 2002 3,629 Posts	Re: Why does everyone care about Greece so much? You're right in a way, the Greek economy isn't that important (outside Greece and the adjoining neighbour countries who will be their major trade partners) but it's the significance of a Greek default from the Euro that is going to be the key. If Greece have to pull out of the Euro, it will show the EU put in a faulty system design, the people who run it can't detect rule-breakers or help the members who are struck by circumstances. If the EU Euro countries can't help one of the smallest economies in the system, which was known to be sick and corrupt before the credit crisis, what can they do for any larger problem? i.e. we will all see the Emperor has no clothes.

May 15, 2012, 4:16am	#3
Hoggums Legendary Member Member Since Jan 2006 2,076 Posts	Re: Why does everyone care about Greece so much? People don't care about Greece. They care about their money - which directly or indirectly is invested in Greece. __________________ Hoggums ----------------------------------------------------------------------------- Outside of a dog, a book is a man's best friend, inside of a dog, it's too dark to read. -- G Marx.

May 15, 2012, 4:17am	#4
scose-no-doubt Legendary Member Member Since Apr 2010 4,551 Posts	Re: Why does everyone care about Greece so much? because it involves vast sums of money and could lead to a liquidity crisis as global institutions attempt to calculate their exposure. __________________ "What the **** is going on here?!" - Mickey B Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!

May 15, 2012, 4:29am	#5
Liquid validity Legendary Member Member Since Sep 2010 1,398 Posts	Re: Why does everyone care about Greece so much? Does make you wonder how long this farce will continue. Other that outright failure, the only sensible option to me is to dump the single currency and move to at least 2, preferably 3 or 4 eurozone currencies. That way global trade is still simplified compared to the multiple splintered currency system of old. If that happened though, Germany wouldn't rake in as much for selling arms and cars to the eurozone...

May 15, 2012, 4:46am	#6
Martinghoul Legendary Member Member Since Feb 2009 2,456 Posts	Re: Why does everyone care about Greece so much? People care about Greece not because Greece itself is important. It's because the outcome of the Greek debacle has implications for the rest of the Eurozone. __________________ "Insofar as I may be heard by anything, which may or may not care what I say, I ask, if it matters, that you be forgiven for anything you may have done or failed to do which requires forgiveness."

May 15, 2012, 5:24am	#7
new_trader Legendary Member Member Since Jan 2006 5,340 Posts	Re: Why does everyone care about Greece so much? WTF? Can you imagine what a pizza would be like without Kalamata olives?! __________________ "It always pays a man to be right at the right time." -Jesse Livermore CLICK - My Trading Journal \| SEARCH: soundmoneyproject \|

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