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Old 06-06-2011, 06:06 AM
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There's one other problem you neglected to mention with regards to Greece.

They are in the EU and do NOT control their currency. Iceland, on the other hand, had a similar crash and is now on the road to recovery because they had the ability to deal with their situation independantly using measures like devaluing their currency (the Icelandic Krona). Greece can't do that because decision concerning the Euro are made a thousand miles away from Athens.

This is exactly what is happening to the US Dollar. I keep tabs on the exchange rate because I have a trip planned this August and I've never seen such crazy swings in the USD-EUR rate. In a matter of days it can swing over 5%. It was $1.33 to the Euro last September and has been between $1.25 and $1.46 since then - not exactly stable.

We won't be Greece because we have our financial sovereignty. But that doesn't mean we won't have significant problems.