Syriza Greek left wing party well in front in elections

If they do win their policy is to leave the Euro and go back to the Drachma.
What will this mean for Europe?
I always felt the Euro was a stupid idea,one currency for all.
Who came up with the idea the Germans.So they could loan all these countries money,and as they are the manufacturing giants of Europe could sell their goods.

Interesting times if you like this sort of stuff.

From what I can understand the remaing Euro countrys will be ok if Greece left because they now have toughened up their banks if there is a run on the Euro because of it - they hadn't up until recently and that is why Greece was bailed out so many times up until now.

I understand also that Greece will be committing financial suicide if they left the Euro because no one will lend to them - and they need to borrow to finance their economic recovery.

As always I think after a lot of posturing everything will more or less remain the same.

Fair play to the likes of Norman Tebbit and Gordon Brown who kept us out of joining in and being in this mess.

The spin offs though is will it inspire other country's anti-EU parties to do well in their next elections?

Time will tell.

If Greece leave the Euro they will still have to pay back all the loans they borrowed from the European Union. It will be economic suicide for them if they jump ship at this point.

It was mooted first thing this morning before the voting that Syreeza would default on their loan payments. With one seat short of a majority it seems to have done the trick. 
Reality is a different matter when the only true currency the Greeks have is olive oil and ouzo!!!

Greece wont leave the Euro but the repayment structure will change and Greece will have more time to ay back ECB and Germany - possibly a 25 to 50 year term instead of the payback asap term which they have at the moment!

Soul Kitchen wrote:
Reality is a different matter when the only true currency the Greeks have is olive oil and ouzo!!!

Just like all Scotland has are oil and whisky! Lucky they didn't vote for independence as with the price of oil going down they would be truly fucked now.

xmiles wrote:
Just like all Scotland has are oil and whisky!

Don't underestimate the simple haggis.

Could be a great move for Greece.

Nobody ever pays back loans anyway - look how much the Brits and Yanks owe the World Bank by comparison.
Thanks to the incessant borrowing of Cameron and his cronies, our national debt has risen to an all time high of £1.4 TRILLION STERLING compared to Greece's paltry 317 billion EUROS!
Capitalism will collapse before that debt ever starts to get repaid. And given the size of the Greek populations in America etc, there's no way the global police will intervene.

They may as well get back to an agrarian economy and make big bucks out of tourism again. Has to be a lot better than the false austerity they currently have to deal with.