Oh dear, oh dear, oh dear...............

[gethinceri]

The Greeks have started this one again......................
http://www.planetf1.com/driver/3213/6928069/Greece-vying-for-a-place-on-the-calendar

Notwithstanding the fact that their economy is spiralling out of control and they are massively in debt to the people who bailed them out of their debt why are they doing this?

Now I love Greece and the Greeks but this is insane.

Can anyone give a positive spin on this?

 

[Brogan]

I read that the government was going to pump in €100 million.
Really? When Greece is almost bankrupt?

I can't see that happening for several reasons.

Under normal circumstances though, a GP in Greece is no different to any other country but I just can't see it happening (any time soon).

 

[Speshal]

Great elevation changes tho

But seriously, it will never happen, not while they are paying off their massive debts and but the time that has happened Bernie will be long gone.

 

[johnnoble1990]

I read that the government was going to pump in €100 million.
Really? When Greece is almost bankrupt?
.

You know when people say "that's my tax money paying for that". Well in this case the only people who can't say that are the Greeks. They are using our bailout money instead.

 

[snowy]

I am reminded of an ancient proverb:
Beware of Greeks spending money they don't have.

 

[RickD]

Ahem - http://cliptheapex.com/threads/the-2011-season.2115/page-9#post-46691

 

[LifeW12]

Greece has 140% of GDP in public debt and yet it still claims it can find 100 million euro and build a track that's so bad it makes Yas Marina look like Spa

 

[MCLS]

Not only would it have to find the money to build the circuit, it would then be operating at a loss for the next X years and i don't exactly think fans would be flocking to the venue.

 

[Cookinflatsix]

It looks as though Greece might drop out of the euro system sooner than later. As there is currently no provision in place for a country becoming a Euro team B country if Greece spend all the bailout funds on anything they want, they will have to be supported or the Euro system is dismantled and then restarted without Greece
If the Greeks are not going to force the hardships on it's citizens required, and it doesn't look like they could even if they wanted to, then it's just a matter of time before Greece is back with it's own currency and it's own economic systems

At this point tourism and everything else needed to attract foreign currency will be a priority, an F1 race paid for by it's former Euro partners would suddenly look like genius and maybe help the economy find it's feet, even just a little bit

Just my maybe slightly provocative thoughts on this

 

[Cookinflatsix]

If Greece leave the Euro and default on all their loans and bailout funding, apart from higher borrowing costs what exactly is anyone gonna do about it?

Nothing, because they are not some nation on another continent that can be invaded on some pretext or have a regime change forced on it and then raped of it's resources

 

[gethinceri]

Greece will return to the '60s. Might make the property in Lindos a bit more affordable so that's OK by me and the Mrs!!!!

 

[Cookinflatsix]

Not only would it have to find the money to build the circuit, it would then be operating at a loss for the next X years and i don't exactly think fans would be flocking to the venue.

They would get private firms in to share costs, and the venture to the Government would go beyond gate revenues

It would be about attracting foreign money and investment, putting a place on the map and farting up the image of the whole country

Other countries have done it to good effect

A bit like having your own national airline in the 60s