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    So, what does everyone think should happen with Greece?
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    (Original post by 94george94)
    When do you select? Because i'm considering changing one of my unis to Bristol for that course
    On UCAS. It's a sound course! Go for it!
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    (Original post by Tateco)
    So, what does everyone think should happen with Greece?
    the problem is not Greece, the problem is Italy :P
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    (Original post by lordvulture)
    the problem is not Greece, the problem is Italy :P
    The problem is not Greece, nor is it Italy. The problem is the euro.
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    (Original post by lordvulture)
    the problem is not Greece, the problem is Italy :P
    Which will be even more of a problem depending on what happens in Greece. Greece defaulting may push them over the edge.
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    (Original post by 94george94)
    The problem is not Greece, nor is it Italy. The problem is the euro.
    I think the euro has it's faults, but it is not the cause of the problem. The cause was the ridiculous spending by governments in recent years leading to these ridiculous national debts. The Euro as a single currency just makes dealing with problems like it harder, it's not the cause.
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    (Original post by Tateco)
    I think the euro has it's faults, but it is not the cause of the problem. The cause was the ridiculous spending by governments in recent years leading to these ridiculous national debts. The Euro as a single currency just makes dealing with problems like it harder, it's not the cause.
    hi

    I have seen that you got far within the Deloitte gap year scheme, did you get in the end?
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    (Original post by Tateco)
    I think the euro has it's faults, but it is not the cause of the problem. The cause was the ridiculous spending by governments in recent years leading to these ridiculous national debts. The Euro as a single currency just makes dealing with problems like it harder, it's not the cause.
    You cannot deny that economic downturns have spread much more quickly as a result of having one fixed currency. They're like viruses in Europe, which has made Greece's problems much, much worse.
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    (Original post by Tateco)
    Well done you two!

    (regrets not applying to Bristol instead of Nottingham)
    Thanks Tateco! Your offers will roll in, you of all people should not panic
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    (Original post by 94george94)
    You cannot deny that economic downturns have spread much more quickly as a result of having one fixed currency. They're like viruses in Europe, which has made Greece's problems much, much worse.
    This definitely makes sense. I suppose the Euro emphasises the positive and negative events in the countries involved, but I still think it is undeniable the main cause of the crisis is the ridiculous unsustainable spending.
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    (Original post by jamiepango)
    Thanks Tateco! Your offers will roll in, you of all people should not panic
    Thanks Bristol your first choice?
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    (Original post by Tateco)
    I think the euro has it's faults, but it is not the cause of the problem. The cause was the ridiculous spending by governments in recent years leading to these ridiculous national debts. The Euro as a single currency just makes dealing with problems like it harder, it's not the cause.
    Why is there no correlation between the countries in crisis and national debt or budget deficits? Spain and Ireland were in good fiscal shape pre-crisis. There is a correlation on the current account, however - which explains why countries in the Eurozone which are in crisis aren't adjusting via a depreciated currency, while countries like Iceland have seen massive currency depreciation but relatively little internal devaluation.

    The government debt line is a myth, leading to disastrous remedies.
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    (Original post by Tateco)
    This definitely makes sense. I suppose the Euro emphasises the positive and negative events in the countries involved, but I still think it is undeniable the main cause of the crisis is the ridiculous unsustainable spending.
    It's a difficult situation, getting rid of the Euro would be of benefit to many countries (especially if promises to free trade are kept) but it's not an easy task. If we had enforced certain economies reaching certain targets before they joined then this problem may not have been as bad as it is now.

    As for what we should do specifically about Greece, who knows? We can't put limits on spending, because that would be an infringement on capitalist ideals...
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    (Original post by Acerbic)
    Why is there no correlation between the countries in crisis and national debt or budget deficits? Spain and Ireland were in good fiscal shape pre-crisis. There is a correlation on the current account, however - which explains why countries in the Eurozone which are in crisis aren't adjusting via a depreciated currency, while countries like Iceland have seen massive currency depreciation but relatively little internal devaluation.

    The government debt line is a myth, leading to disastrous remedies.
    Ireland has a Debt of around 95% of GDP How can you say that is a myth.
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    (Original post by Tateco)
    Thanks Bristol your first choice?
    I applied to 5 top universities that I would love to go to (risky, I know) and so I haven't really thought about it. Having said that, LSE and UCL are likely rejections, Warwick is also a shot in the dark and I'm waiting on Bath which is my favourite one that I visited. So you could say it's my 5th choice that I would love to go to
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    (Original post by Tateco)
    Ireland has a Debt of around 95% of GDP How can you say that is a myth.
    You're looking at symptoms, not causes, of depression. Of course the collapse of the Irish economy has decimated tax revenues, inflated welfare payouts, and necessitated bank bailouts, which has increased government debt massively. But that's post-crash.

    This is illustrative of my point:
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    (Original post by Acerbic)
    You're looking at symptoms, not causes, of depression. Of course the collapse of the Irish economy has decimated tax revenues, inflated welfare payouts, and necessitated bank bailouts, which has increased government debt massively. But that's post-crash.

    This is illustrative of my point:
    But it is still their spending that has left them in this current predicament is it not? Surely no matter what the cause of the spending was it still happened and is still the main issue to be dealt with in the short term?
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    (Original post by Acerbic)
    .
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    (Original post by Tateco)
    You know ****'s going down when Tateco brings out the bar charts.
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    (Original post by Tateco)
    Bx
    mail full mate
 
 
 
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