ChatterBank17 mins ago
The Greeks Have Done It !
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"blink first" why were they even staring? Just stop talking, shut off the money pipeline and wait. What a useless shower. I don't have to read it to know what it says. The bubbles have got a further bailout and probably won't repay the last one or the one before or the one before that, or this latest one. What a gutless shower the EU are. The twist and shouts must be livid. I am so glad we ignored the anti British and did not go into this mickey mouse currency or we'd be bailing these useless scroungers out. They should have slammed the door and let the whole sorry circus implode.
Not too sure about that, just listening to it on news. Greece is having to hand over 50 billion euros worth of state assets over to the Eu which will probably have to be sold to repay some of the debt. Greek Banks have to be privatised and in the meantime are being run by the Eu in all but name.
Two stumbling blocks are Greece still has to reverse all its anti austerity laws by Wednesday, and rumour German Lawyers are preparing to block the deal are appearing on line.
Two stumbling blocks are Greece still has to reverse all its anti austerity laws by Wednesday, and rumour German Lawyers are preparing to block the deal are appearing on line.
Well, not really mikey. But the thing is, it was hard to see any other outcome given that no one really wants Greece to leave the Euro (apart from people who don't count). And given that the Greeks always had plans on the table, even though they weren't necessarily very good ones, enforcing a deadline was always going to be difficult.
As it is there are a raft of reforms the Greeks now have to put in place, which just shows what a ridiculous waste of time and effort the referendum was (but as we have seen elsewhere in Europe hasty referendums are often called by dubious administrations for various reasons: time wasting in the case of Syriza here).
It should not be forgotten when one talks of "a further bailout" that there was always a 7bn euro loan in the offing anyway. That was already agreed.
The argument was over the repayment of the 2billion before that.
As it is there are a raft of reforms the Greeks now have to put in place, which just shows what a ridiculous waste of time and effort the referendum was (but as we have seen elsewhere in Europe hasty referendums are often called by dubious administrations for various reasons: time wasting in the case of Syriza here).
It should not be forgotten when one talks of "a further bailout" that there was always a 7bn euro loan in the offing anyway. That was already agreed.
The argument was over the repayment of the 2billion before that.
TTT - //I hope so, lets hope they block it, they should pull the plug. Greece is like a poncing brother in law, always scrounging never repaying. //
Perhaps a rather over-simplistic assessment of a seriously complex economical issue, but I can see you how you have arrived at it.
The issue for the Commission is that domino effect - if Greece pulls out / is kicked out of the Euro, the domino effect will see the entire currency collapse and widespread economic chaos around the world.
The German government, who see themselves as the fiscal guardians of Europe, were brought in to ensure that Germany joined an economic Germany, but history shows that now an economic Europe follows Germany.
The relationship between Germany and the EU is comparable to the relationship with one man and his dog, with each of them thinking that the other is the dog.
The Greek government has had to overturn almost every measure it promised its people during the referendum, and have effectively handed over their fiscal power to the EU, with serious sanctions and even worse austerity built into the bailout - so if you think that Greece have simply tefloned out of this, I would disagree, and I think the Greek people would disagree as well.
Perhaps a rather over-simplistic assessment of a seriously complex economical issue, but I can see you how you have arrived at it.
The issue for the Commission is that domino effect - if Greece pulls out / is kicked out of the Euro, the domino effect will see the entire currency collapse and widespread economic chaos around the world.
The German government, who see themselves as the fiscal guardians of Europe, were brought in to ensure that Germany joined an economic Germany, but history shows that now an economic Europe follows Germany.
The relationship between Germany and the EU is comparable to the relationship with one man and his dog, with each of them thinking that the other is the dog.
The Greek government has had to overturn almost every measure it promised its people during the referendum, and have effectively handed over their fiscal power to the EU, with serious sanctions and even worse austerity built into the bailout - so if you think that Greece have simply tefloned out of this, I would disagree, and I think the Greek people would disagree as well.
The idea that if Greece pulled out (or was kicked out) of the euro it would collapse seems highly far-fetched to me. There is a small chance that one or two other countries might also leave but it seems highly unlikely. Those countries by definition would have devalued currencies which would destroy people's savings.
People were predicting the demise of the euro years ago. There are harsh lessons to be learned from the experience of Greece, but Greece is really a bit of an exception, as previously discussed.
And actually in the long run this is actually very good publicity for the single currency, because it shows what you can get away with, despite the pain, if you can get your foot in the door :-)
People were predicting the demise of the euro years ago. There are harsh lessons to be learned from the experience of Greece, but Greece is really a bit of an exception, as previously discussed.
And actually in the long run this is actually very good publicity for the single currency, because it shows what you can get away with, despite the pain, if you can get your foot in the door :-)
state assets having to be sold? The Simpsons were right
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///(apart from people who don't count). ///
Lol, ichi. That would be the people that have the wrong opinions, I suppose.
Not a question of having the "wrong" opinion, but I've noticed that many of those who do have that opinion i.e. that Greece should leave the euro, are only saying it because they believe that it will lead to the break-up of the EU somehow. They are not interested in the welfare of the Greeks, of the Germans or indeed anyone else. And therefore for the purposes of the game between EU/the banks v Greece, they don't count :-)
Lol, ichi. That would be the people that have the wrong opinions, I suppose.
Not a question of having the "wrong" opinion, but I've noticed that many of those who do have that opinion i.e. that Greece should leave the euro, are only saying it because they believe that it will lead to the break-up of the EU somehow. They are not interested in the welfare of the Greeks, of the Germans or indeed anyone else. And therefore for the purposes of the game between EU/the banks v Greece, they don't count :-)
"///(apart from people who don't count). ///
Lol, ichi. That would be the people that have the wrong opinions, I suppose.
Not a question of having the "wrong" opinion, but I've noticed that many of those who do have that opinion i.e. that Greece should leave the euro, are only saying it because they believe that it will lead to the break-up of the EU somehow. They are not interested in the welfare of the Greeks, of the Germans or indeed anyone else. And therefore for the purposes of the game between EU/the banks v Greece, they don't count :-) " - so the wrong opinion then!
Lol, ichi. That would be the people that have the wrong opinions, I suppose.
Not a question of having the "wrong" opinion, but I've noticed that many of those who do have that opinion i.e. that Greece should leave the euro, are only saying it because they believe that it will lead to the break-up of the EU somehow. They are not interested in the welfare of the Greeks, of the Germans or indeed anyone else. And therefore for the purposes of the game between EU/the banks v Greece, they don't count :-) " - so the wrong opinion then!
I was under the impression that the Greek government had all but caved in despite the people having elected a government that insisted they were going to avoid austerity reforms and a referendum that confirmed this requirement.
Sure there is further bailout coming their way, but at that price.
At least they seem to have "won" a debt restructure though, and I see there is something about assets being retained, which I guess is something. Maybe it was the best both sides could get.
Sure there is further bailout coming their way, but at that price.
At least they seem to have "won" a debt restructure though, and I see there is something about assets being retained, which I guess is something. Maybe it was the best both sides could get.
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