Rooting for the Lira

[prendrefeu]

plus Germanys rigid insistence on maintaing low inflation. (Why has noone in Germany read Minskys analysis of Maynard Keynes???).

The terrible unemployment of the Great Depression made a lasting and rather Keynesian impact on Great Britain. The Germans may some day forget Hitler, but they will never forget http://en.wikipedia.org/wiki/Hyperinfla ... r_Republic" onclick="window.open(this.href);return false; .

and what happened with the Hyper Inflation aided Hitler's gain of power and influence with a population in desperation.
It is not only not forgetting what happened during the Weimar Republic, it is also not forgetting what came next.

(Edit: added quote due to pagination)

[Ritterview]

...and what happened with the Hyper Inflation aided Hitler's gain of power and influence with a population in desperation.

It is not only not forgetting what happened during the Weimar Republic, it is also not forgetting what came next.

Not exactly. The hyperinflation climaxed in 1923, whereas Hitler didn't gain power until 1933. What came next after the hyperinflation was the Golden Era of the Weimer Republic (1924-29), during which the Nazi's were marginalized. It was the Great Depression that fomented Hitler's rise.

[astranoc]

Don't worry. No one in Greece wants to leave the euro.

Well let's just say that this your opinion. There are a lot of bright minds in Greece that can see beyond what's being served on the media. Getting out of the euro is the only way forward IF people's prosperity is what you are after and not after serving the big heads and the banks. It's going to be tough the first months-years but it's going to get gradually better, staying in euro.. Oh well no need to say anything, we see it everyday and there is much more to come.

[micky]

I must admit that one part of me is pleased with this talk of the demise of the Euro and the possible return of national currencies such as the Lira. With a hard-pressed Lira, I imagine that Campagnolo components might become inexpensive, and that a cycling vacation in Italy becomes a bargain.

Is that wrong?

I hope this is a joke cause realistically the price would just be converted into Lira, and I dont get how it would be any cheaper.
Anyway no, neither Italy is leaving Euro for the time being.

[HillRPete]

Don't worry. No one in Greece wants to leave the euro.

Well let's just say that this your opinion. There are a lot of bright minds in Greece that can see beyond what's being served on the media. Getting out of the euro is the only way forward IF people's prosperity is what you are after and not after serving the big heads and the banks. It's going to be tough the first months-years but it's going to get gradually better, staying in euro.. Oh well no need to say anything, we see it everyday and there is much more to come.

People who advocate Greece leaving the Euro zone often seem to forget that if they went back to the drachma, and gave it a, say, 50% inflation, their existing (international) debts accounted in Euro would also be twice as high. And they already have little means of getting back on top of their interest rates.

[Powerful Pete]

Ok locking this. Plenty of other forums for discussion of the Euro crisis and per-war German hyperinflation.