Greece the musical

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22 Responses to Greece the musical

  1. Leigh Lowe

    You don’t look half bad in the platinum blonde wig, Sinc.
    Although you could work a little harder on your lip-sync, Sinc.

  2. Gertrude

    I’d rather watch Cats.

  3. Lem

    Yes, well it lost me at the “debt relief” feel good ending. They would have been better to do a parody of “Apocalypse Now”. But there’s no holding down the exuberance of youth (if they had any left in Greece).

    There’s a few reasons the EU are keeping Greece in, and it has nothing to do with giving a damn about the people:

    (1) Bail out/in the creditors (Goldmans comes to mind) at the expense of any nitwit who still has money in the banks
    (2) Give the rest of the PIIGS something to think about (duh, I think they’ll be looking for special treatment too, now…)
    (3) Keep Putin as far out of the Eastern Mediterranean as they can
    (4) Germany gets to benefit in terms of trade. No way that industrial complex could have competed in a globalised world of the like we have now without the Euro.

    So basically, it’s Hotel California.
    Cyprus was a dry run for Greece. The other PIIGS are in a holding pattern, and after that who do we have? Oh Yeah France with >95% debt/GDP ratio, 11% muslim population and a tanking economy.

    No wonder the US dollar is strong.

  4. mundi

    I still don’t get the constant hate on Germany. Is it just the usual socialist envy?

  5. Lem

    I still don’t get the constant hate on Germany. Is it just the usual socialist envy?

    Yes and no and yes. It is freakin’ complex, but basically, the EU was a dumb idea from the get go, and the only ones who have profited have either long gone or are taking what they can from ELA and getting out.

    The can has been kicked right down the road to the petrol depot.

  6. Innamincka

    Greece’s 2016 Eurovision entry should be a cover of Tears of a Clown

  7. .

    the EU was a dumb idea from the get go

    No. Expanding it and making the EUR the currency of Ireland and Greece was a dumb idea.

  8. H B Bear

    The Germans might not see the funny side of it.

    No sense of humour, you know.

  9. Lem

    Dot, Ireland and Greece are a tiny part of the Eurozone’s problems. Next you have Spain, Portugal, Italy.

    And then the big one. France.

    The Eurozone is another failed socialist republic type idea with member states emasculated by their lack of national currency.

    Don’t even get me started on Schengen.

  10. .

    France, (Northern) Italy, Germany and the UK should have had a common currency as the EMS breakdown cause economic harm and coordination was too difficult to achieve singulrly. The original EU idea of a free trade zone in goods, labour investment in Western Europe with a common currency for the most integreated of these economies was a good idea.

    They all cheated on their obligations. Remember the Maastricht Treaty had a 3% limit on deficits, and overall debt had to be paid back quickly. If they did not have a fiat currency, discipline would have been enforced by the market.

  11. Lem

    They all cheated on their obligations. Remember the Maastricht Treaty had a 3% limit on deficits, and overall debt had to be paid back quickly. If they did not have a fiat currency, discipline would have been enforced by the market.

    Otherwise said, it hasn’t worked, as anyone might have expected. I rest my case, history tells the tale. The problem is that this great love fest of Europe, doomed to failure as it always was by a self interested and faraway polity, will have its’ mistakes foisted on the common people. Just as it ever was.

  12. Turtle

    They all cheated on their obligations

    .

    So, Dot, do I have this right? The EU would have been a good idea for a limited number of countries in western Europe if it was the case that countries never cheat on their obligations?

  13. .

    The EU would have been a good idea for a limited number of countries in western Europe if it was the case that countries never cheat on their obligations?

    …and the currency zone wasn’t extended so far…

    …and it stayed as a customs union, not bizzare supranational regulatory body…

    …and it was not extended as far…

    …and they used a less elastic currency…

    A lot of ands for that gotcha.

    Don’t even get me started on Schengen.

    This is stupid and risible. Should NSW seal off the border with Queensland and Victoria?

    The idea that Europe could actually have a single uninterrupted long haul truck trip to transport goods from France to England and Poland is bad because?

  14. Ubique

    The idea that Europe could actually have a single uninterrupted long haul truck trip to transport goods from France to England and Poland is bad because?

    Britain isn’t part of the Schengen, it opted out and never joined. The Schengen is not without benefits but has serious drawbacks as the countries bordering Greece and Italy are discovering. France recently set up border controls on its border with Italy to try and prevent the entry of a flood of illegal immigrants.

  15. alexis

    France, (Northern) Italy, Germany and the UK should have had a common currency as the EMS breakdown cause economic harm and coordination was too difficult to achieve singulrly.

    Mysteriously the UK managed to co-ordinate whatever you’re talking about quite easily without being part of the Euro.
    Mysteriously Switzerland seems to have functioned perfectly well for the past fifty years despite not being part of the EU or Euro, and is well-integrated into the rest of Europe without even being an EEA signatory – even with freedom of movement for EU citizens. What does that tell you about the value Europeans get for the EU apparatus (annual cost two hundred billion dollars)?

  16. alexis

    Should NSW seal off the border with Queensland and Victoria

    If it was a different country to Victoria and had been for a thousand years, and if it wanted to register and process hundreds of thousands of undocumented immigrants crossing the border during an epochal migration event-
    yes.

  17. .

    Mysteriously the UK managed to co-ordinate whatever you’re talking about quite easily without being part of the Euro.

    You mean monetary coordination with the Franc, Mark and Lira?

    Because they didn’t exist anymore.

  18. Pyrmonter

    The EU – “hasn’t worked”. Well, not perfectly as an economic union. But, however bad the position in Greece, there hasn’t been the run on sunglasses and khaki one might have expected 40 years ago. The euro has failed (at least so far) because a bunch of governments consider they can free-ride on the centre’s fiscal policy; they’re learning. They need to learn more: in particular, that nominal wages and prices must fall, and that there are limits on the ability of free-riders to get away with their game; they might yet do that. The ECB might also learn that letting the stock of credit fall isn’t a fantastic thing, whatever the effect on inflation; and that a little loosening of monetary policy doesn’t inevitably bring on Germany 1923/Hungary 1946.

    Maintaining flexible currencies might have cushioned the political fallout: but by continuing (and validating) the historical pattern of implicit default and devaluation. Would that really be so much better?

  19. This is stupid and risible. Should NSW seal off the border with Queensland and Victoria?

    Far Kyair. (Though the Victoria part isn’t necessary, it’s just more NSW culturally)

  20. James Hargrave

    Currency Unions – well one containing Denmark, Sweden, Norway (then sort of linked to Sweden) and Iceland (then more-or-less pat of Denmark) couldn’t manage to survive, and that makes more sense as a currency zone than something stretching from Portugal to Finland. The Euro is a predictable and predicted disaster and is the ‘European project’ writ large: if you dress up something political as economic, you end up with both a political and economic train wreck.

  21. Yohan

    The best Greek financial parody is this one, V for Varoufakis



  22. The all-star cast are back to party again – musical favourite Rob Mills and rising star Gretel Scarlett remain in the lead roles of Danny and Sandy. Bert Newton plays the role of slick veteran disc jockey.

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