The Instigator
NerdDestroyer
Con (against)
Winning
7 Points
The Contender
gryphion
Pro (for)
Losing
0 Points

Greece is going to be saved from their debt ?

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Post Voting Period
The voting period for this debate has ended.
after 2 votes the winner is...
NerdDestroyer
Voting Style: Open Point System: 7 Point
Started: 11/10/2011 Category: Politics
Updated: 5 years ago Status: Post Voting Period
Viewed: 1,391 times Debate No: 19203
Debate Rounds (3)
Comments (3)
Votes (2)

 

NerdDestroyer

Con

Greece will never be saved from their debt because it will take them ages to pay off with their amount of GDP.

Greece has a GDP of $304.87 Billion and their debt 120% of that rate. Greece has a very unstable economy with the unnecessary spending on goods that they cannot even afford. Germany keep on handing out bail-out packages but it still won't help out Greece.

Countries in the Mediterranean Sea have low tax rates compared to the English Taxation System. In Australia you have to pay 10% Goods and Services tax. And For People with a Annual Salary of $180,000 pay $56,000. The Greek people are protesting against their government and are not working due to their pay.

The Greeks have always had a bad economic crisis during WWII their inflation rate doubled every week which is as bad as the German hyper inflation.

Their GDP Growth: -7.3% (Q2 2011 compared with Q2 2010, non-seasonally-adjusted). So that means they are losing money instead of gaining to pay of their debt.

During October the European Central Bank and the International Monetary Fund said they had reached a new agreement with Greece on reforms to put the nation back on track.

The three-point plan included expanding the single currency's bailout fund to 1tn euros, banks being forced to raise more capital to protect themselves against losses resulting from any future defaults, and banks accepting a loss of 50% on money they have lent Greece.

The Money they have lent Greece are called Stimulius packages and one has been handed out which was $111 Billion. So if greece cannot be saved by huge amount of money and their GDP is going down they would never be saved.

Their have been discussions for Greece to leave Eurozone and the EU and use their currency the Drachma whiuch is a very weak currency. The EU,IMF,WTO,EC have been trying to help Greece with their debt crisis but all efforts have failed. INstead it has been a Negative impact instead countries like, Italia, Greece, Portugal, Ireland, Spain and the UK are suffering like Greece because it is contagious (lol).

CASE CLOSED
gryphion

Pro

For your information I am playing devil's advocate, I agree with Con.

I will accept this challenge by my opponent, and and proceed to prove him wrong.

What do you mean by survive? Be specific please.

The opponents information is a word-for-word copy of Wikipedia. Next time I ask him to state his sources.

He said this:"Greece has a GDP of $304.87 Billion and their debt 120% of that rate."
Not true. Greece hopes to cut their deficit down to that number. Their newest Stimulius package hopes to bring the debt to 120% of their GDP.

I am aware that is not an acceptable argument, just pointing out a mistake.

My argument is this: When Greece defaults, with the austerity packages, They keep the money and grow on their economy, then paying off the debt and getting back to a normal economy. That is "surviving" (again, what do you mean by that?) the debt crisis.

Thank you for making this debate, I am having fun with it.
Debate Round No. 1
NerdDestroyer

Con

I do agree with my opponent I do have a few mistakes in my grammar but nevertheless.

The European Union has already had alt of protest about kicking out Greece and disbanding. Greece has not been able to pay their debt for along time and this has been hidden from the world and just recently been discovered. A lot of Economist have been trying to solve the Greek debt crisis but argue that the delay in organising a default would badly affect the other EU lenders and neighboring European countries even more and create instability in their economy.

The real risk is that a unilateral default by Greece this could create a panic launched worldwide because debts haven't been payed and it is spreading to other countries, as investors fear that other, much bigger euro zone countries may ultimately follow Greece's example. Greek banks are exposed to the sovereign debts of their country.

Although when I say never be saved I am exaggerating I do mean 50 year period. Greece has been known to all ways have a bad economical problem due to not spending in their "means."

Public spending soared and public sector wages practically doubled in the past decade. It has more than 340bn euros of debt - for a country of 11 million people, about 31,000 euros per person. And now the average wage has been dramatically decreased due to their debt.

CASE CLOSED ______
gryphion

Pro

Greece has two things they can do: Accept the packages, and cut spending. I believe a new president has been put in, and he will do these things.

Not much to refute as I did that in the first round.

Case closed? I don't think so.
Debate Round No. 2
NerdDestroyer

Con

Although my opponent is right, BBC new stated that "The government's main task will to ensure debt-laden Greece gets its latest bailout payment, by approving a new 130bn euro ($177bn; �111bn)." That is now paying of the full debt Greece owes which is 127% of their GDP which is 300.Billion. Greece does not even have enough money to pay of the debt with the package accepted by their new Prime Minister "Lucas Papademous."

As is stated in the last round Greece has a negative GDP growth they are losing money. I think Greece will get through but not anytime soon the people are good the government aren't it is all the government fault for this dilemma I feel sorry and my heart goes for their dilemma. I am happy to now that they are putting in a new government.

It will take along time for Greece to pay off their debt because of their GDP negative growth even with the bailout package.
gryphion

Pro

The countries around the Mediterranean sea has higher tax rates than Northern countries, and the people have stopped working hard enough.

Since all of my points have not been refuted, I stand with a victory. Vote pro!
Debate Round No. 3
3 comments have been posted on this debate. Showing 1 through 3 records.
Posted by gryphion 5 years ago
gryphion
Iwould accept this debate but I agree with you.
Posted by 16kadams 5 years ago
16kadams
this looks like a good debate. I lukily havent gotten a troll thank god. But you should say they will not be saved over 50 years or it will be saved in 50 years because this looks broad.
Posted by Logic_on_rails 5 years ago
Logic_on_rails
Con, you're unlucky to have gotten an idiotic troll on your first try. Don't be discouraged - re post the debate and hopefully you'll get a decent opponent.
2 votes have been placed for this debate. Showing 1 through 2 records.
Vote Placed by imabench 5 years ago
imabench
NerdDestroyergryphionTied
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Total points awarded:40 
Reasons for voting decision: con had better arguments and pros arguments were not uncontested like he claimed so i threw con conduct
Vote Placed by phantom 5 years ago
phantom
NerdDestroyergryphionTied
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Total points awarded:30 
Reasons for voting decision: Many of cons contentions went unaddressed by pro. Both should have used sources to back up claims.