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Forum Post: Will Greece being kicked out of the euro a chance to show the world how Socialism can work?

Posted 2 years ago on May 14, 2012, 7:15 p.m. EST by cherokeenation (-1) from New York, NY
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This is exciting, the new Greek government will be a real show of pure socialism! Who need a bunch of Germans telling you what to do!

http://www.telegraph.co.uk/finance/financialcrisis/9265930/Merkel-tells-Greece-to-back-cuts-or-face-euro-exit.html

3 Comments

3 Comments


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[-] 2 points by ARod1993 (2420) 2 years ago

I'm actually legitimately curious as to how this is going to play out. Argentina wound up doing much the same thing (default, withdrawal from international monetary markets, rebuilding without outside aid) and is currently a prosperous, secure nation with a center-left (by international rather than American standards) government that has been able to successfully balance a public sector looking out for the needs of its people with strong private enterprise. Even more impressive, Argentina also managed to pull this off despite dealing with the traumatic aftermath of the Dirty War.

It is therefore possible that Greece will be able to get its affairs in a reasonable state of order without interference from Germany and the IMF. This would also probably happen without resorting to austerity measures that amount to a kick in the balls for the working class and poor and yet fail to address those structural problems that the Greek government and economy actually suffer from. As far as I'm concerned, such a success would indicate that Keynesian principles are in fact not yet dead and provide an example for other nations attempting to deal with similar problems.

Of course, it's also possible that Greece will wander off on its own and run itself down into the sorriest state it's seen since the 1950s. It is also possible that at this point things in Greece have gotten so bad that it's going to plow into a ditch no matter what decisions it makes; the only way we're going to know is by sitting back and watching this drama unfold over the next few years. At the very least, though, this isn't going to be easy for anyone.

My personal two cents' worth: I want Greece to go the Argentine route and succeed, and I firmly believe this outcome is possible. It won't be easy for them to do, as basically everything I've read on the situation attests to serious problems with nepotism and corruption that are going to have to be tackled to make any reform stick. That said, there is no reason to believe that the austerity package will help the Greeks tackle these issues, and as far as I can tell there is no real reason for them to stay in the eurozone and accept the cuts.

[-] 1 points by MattLHolck (16833) from San Diego, CA 2 years ago

http://map-greece.blogspot.com/2011/12/greece-map-political-area.html

they're next to Turkey

Money for travel in Turkey: Turkish Liras (TL), New Turkish Liras (Yeni Türk Lirasi, ..

[-] 0 points by Slabbers (10) 2 years ago

Somehow I don't think it would be that easy.