still, i liked his talk so, adding him to my watch list, for a while at least until i discover his secret agenda (if any)

lol the "collapse" and "uniting" are two sides of the same coin.

They're both the same game being played

:P a bit of chaos in europe might be healthy in the long run, booms typically follow strife. hopefully this time we can do it without a war

my favourite quote from the Joker "Introduce a little anarchy", a mantra i tend to live by when things in my world start to stagnate

That's not what anarchy means, but okay lol

Varoufakis was a fraud... he was supposed to save the Greek economy as the minister of Finance, but failed to meet any if his promises, failed to strike a repayment deal after the **third** Greek bailout, and generally pissed off everyone in Europe because he was pushing for a pardonning of the Greek debt

He was convinced that there was some sort of EU conspiracy against Greece

There isn't?

he tells about being assigned the post and first thing they said "sign here or we close all the banks in greece" or something along the lines and he talks about meeting obama, basically saying the same happened to him

No, the EU saved Greece three times from Bankruptcy and already pardonned one of their bailouts. The EU is simply pissed off now

Maybe socialism doesn't work?

Maybe not tying X nations to the same currency?

but that was the plan

i think he was saying he was prepared to or did use the debt as leverage

it shouldnt work

He was part of the radical left wing greek party

does that mean hes done a u-turn?

You should never borrow money

You kinda have to sometimes tho

he blamed germany in part (german banks) for lending to foreign countries, as opposed to investing in their own businesses, which allowed greece to accumulate so much debt. at least thats what i understood from it

@M4Gunner there's nothing wrong in running a deficit, as long as the borrowed money is used to finance growth

It's often the only way for most countries

what if it's spent on hookers and blow?

But wont we at some point get into a point of no return once everyone is in debt?

in the context of giving money to another country, is there a difference between lending and investing?

A loan is an investment. Banks make money from loans

ok, so when Yanis' say the solution is to encourage investment, he is literally asking for loans? because the impression i got from "investment" was to invest in equity of businesses

there are already too many loans

@Trebjonn debt isn't the end of the world. Someone's debt is another person's profit. You can also sell debt.

too much debt generally

Gunner owes $150 to a friend that died. <:GWmythiFeelsBadMan:391321619748093972>

could always pay his next of kkin

no kids

@orolyn yes, get companies to move into the country to invest, and get banks and istitutions to finance projects

@Capitán Alatriste I know, but most of the debt are related to actual countries and the those that profit are indivudals

> There is nothing wrong with debt as long as it finances growth.

Essentially correct, until you see negative growth

the implication of debt financed growth is that the growth will pay the debt back via ROI... it's like taking out a credit card to finance your business startup exploits

Yes pretty much

Or if you can hardly even pay the interest on the debt as a nation.


Debt itself on a nation level is also dangerious as it ends up used as a bases for the debtholders countrys currency. Which leads to massive issues when there is a recession. See 2008.

@M4Gunner morning