Comments by "Brand131" (@Brand131) on "Greece: Mixed reception for Varoufakis as he votes in referendum" video.

  1. ***** The interest rates they lend for are really low, somewhere in the order of 1% to 2%. The burden of their interest payments (as a % of GDP) are lower than some other European countries. Sources: http://www.telegraph.co.uk/finance/economics/11372369/Three-myths-about-Greeces-enormous-debt-mountain.html http://krugman.blogs.nytimes.com/2015/01/26/greece-think-flows-not-stocks/?_r=0 http://www.spiegel.de/international/europe/an-interest-rate-cut-will-do-little-to-solve-greek-budget-trouble-a-923281.html (from 2013)
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  2. Apex warrior They don't have to pay back the full 300 billion euros. There are very few countries with no debt. My guess is that in the long term they will expected to bring it under the 60% of GDP threshold, but that's decades away probably.
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  3. ***** If a European government needs money, it's not a simple matter of the ECB "adjusting their balance", as you seem to imply here. Governments issue bonds which are then bought by national and international investors.
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  4. ***** "The ECB can debit and credit accounts easily." Right now they cannot do this (by agreement), but I understand you think they should? Wouldn't that mean that the ECB would serve as a money press for European governments, increasing the money supply at their whim and thereby fuel inflation?
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  5. I'm not going to continue this discussion with you. Your comments are too long and it will take too long to dissect and address them. In general, complex questions such as if the independence of the ECB is a good or bad thing won't be settled in the comment section of a Youtube video regardless. Also, sentences like this, "They want financial dictatorship and financial colonialism to continue." give me the impression that you lack objectivity. Anyway, I've bookmarked that blog you linked and I'll fully read it at my convenience at some future date.
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