QUOTE(Milton Roe @ Mon 9th August 2010, 9:14pm)
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Had nothing to do with switching to the Euro, beyond the possible idea that being "Europeans" gave the Greeks silly ideas that they could live their favorite "European" life style. Consider the French, who by law have 5 weeks of vacation, 35 hour work weeks, and retire at 60.
![ermm.gif](http://wikipediareview.com/smilys0b23ax56/default/ermm.gif)
The Greeks figured: "Why not us?"
Do you think that the Greeks have
ever not considered themselves European? Do you think they were ever an exceptionally hard-working country in modern times? The Spartans disappeared a long, long time ago! Do you have any evidence that the amount of holidays increased, or the length of the working week reduced, or the retirement age fell, recently? If so, as I say, it wasn't and couldn't have been because they suddenly thought of themselves as European.
No, it was definitely the fault of the Euro. Firstly, it means the Greeks can no longer devalue their way out of problems, since the single currency obviously locks their exchange rate to the rest of Euroworld at 1:1. Secondly, it allowed the Greek economy to get hopelessly overstretched because investors thought that they were as safe as any other Euro country.