Cyprus-Forum.com

[Paphitis]

Greece will remain in Eurozone regardless of the referendum outcome. The repercussions for the Eurozone will be horendous if Greece was to leave the EZ, the Germans know this so do other lenders.

The repercussions will be horrendous for the Germans and the Eurozone, but not Greece.

Greece has a lot less to lose now.

[kurupetos]

I agree with Pyrpo.
And even Kuru had the common sense to bring up the fact that Greece needs to start producing in order to become competitive in international markets.
The economy was a shambles pre Euro, in the 80's huge inflation something like 25% and huge debt, it sort of stabilized in the 90's and then they cooked the books to be let in the Euro thus exasperating the problem.
It all became evident during the global financial meltdown.
GiGs on the other hand (God bless her heart) is unwittingly trying to bury her country behind propaganda and anti EU rhetoric masking the problem which is for the most part internal.

Greece was doing ok in the 90s and between 2000 and 2008 it was even booming.

IMO Greece's best period was 1967-1973.

[Paphitis]

My comment from a previous thread:

A large number of the comments on here identify ‘The Banks’ (Banksters) as the problem, as it was they that made the loans knowing that the chances of having the debt repaid got less likely as the Greek debt mounted.

Banks create debt ........ which is what they did to Greece, they don’t actually loan anything ..... they create ‘money’ as a computer entry and as negative figure in a credit account and call it a loan. When the ‘loan’ is repaid it is written off the books .... i.e. the ECB/IMF write off the debt. If the capital sum is not repaid ......... the banks lose NOTHING!!!! This so called ‘money’ did not exist until the banks created it and will cease to exist when the debt is repaid or written off. The ‘loan’ is simply the ECB/IMF allowing Greece to spend money it hasn’t got ....... i.e. the ECB/IMF allow them to write bouncing cheques but they don’t bounce them.

Grasp that basic principal of money creation and you can see just what a gigantic fraud the banking system is and why Greece will recover if they revert to a Sovereign currency, an independent Central Bank and the removal of commercial banks ability to create money out of thin air.

BTW: The Bank of England (and many other sources including the FED) have confirmed this is how banks make ‘loans’ and create ‘money’!

I seem to have seen this somewhere else, ProVox.

Where?