Do you consider the election results in Greece a turning point for the EU or is it much ado about nothing?

It is a slap in the face for the money lent helping Greece… the EU should re-possess the parthenon.

I don’t know. Let it play out and see what the party does. It’s one thing to talk, it’s another to act.

It depends on what the government decides to do. In order to get loans, Greece had to enact all sorts of unpopular austerity measures, which is why the far left won. The problem is that Greeks like the Euro because it offers stability. But they can’t have it both ways.

It’ll be interesting to see what happens if the government rolls back the austerity measures. Will the Eurozone have the stones to kick Greece out of it? My personal opinion is that they won’t. But if they do, Greece is screwed as they won’t have a stable currency and they will be faced with inflation.

I think it will be a turning point, which way it will turn though is anyone’s guess at this point.

Tsipras immediately cozying up to Putin is certainly troubling.

I think Greece will ultimately succeed in having the majority of the debt forgiven. The debt is roughly 1½ times their total GDP! That’s insane.

The American’s bailout of their own financial system is being widely heralded as the reason for the strength of the American come-back. Although I disagree, that notion is certain to help free up some money for the Greek government.

Considering the restrictions and austerity measures they were forced to implement to get the loans I am inclined to say “go for it”. What are they gonna do, repossess your country?

Unless they leave the Eurozone, not much will change. It’s the Euro that’s the cause of their economic instability, and consequently social and political instability. Their inability to control monetary policy is what has put them in this mess.

A return to the Drachma is the only viable long-term solution. Greece needs monetary control to return its economy and society to sanity. Even if a future Drachma becomes relatively cheap, this will only be good for their tourism and exports.

Any attempts to cling to the Euro and somehow restructure the debts will not solve the underlying problems, and will leave Greeks paying off the parasitic banks for a generation—and continuing to suffer for it. I also do not envisage any favours being done now that Greece’s ruling part are so-called “far-left radicals”.

They could dream of a debt cancellation, but I’ll eat my underpants if the ECB and European Commission let that happen.

@ibstubro was there official cozying up? When did he go over to make friends?

Time will tell, of course.

But my guess is that Greece, and Spain, and may be Italy, will all leave the Euro in the next 3–4 years,

The whole EU and Eurozone was an artifice – a bastardized, cobbled together plaything for the idealists, that had no chance of long term success.

We’ll be back to DeutschMarks and Francs fairly soon, and be better for it.

Here’s my source @ZEPHYRA. I did no research into the neutrality of the source of this, it just came from a quick Google search in response to your question.