Message from @orolyn
Discord ID: 530075996989292545
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.
It can become a domino effect.
Sorry to hear about your friend
guys my roommate got to the coffee pot before me and now i have to water my coffee down or ill have a panic attack
@M4Gunner morning you beautifully ugly bastardo
This isnt sexist
https://www.youtube.com/watch?v=cnjjkgIO3Ck
The 2008 crisis was due to debt among the financial sector aka the mixing of investment and saving banking. Nothing to do with national debt @Goblin_Slayer_Floki