Greek Financial Crisis

[SpurtingLesbian]

Don't know the in's and out's of their predicament cos' I've just turned 20 (thus not too assed). But from where I am it looks like major tax evasion plus moving to the euro from the cheapo dracma which brought loads of tourism. Correct me if I'm wrong lids.

you are wrong.

 

[SpurtingLesbian]

Retirement age at 55 also lid but mainly the here and the now is that the previous Greek Government agreed to pay back borrowed money at ridiculous interest rates despite reforms of tax,retirement age etc makes no difference.

What choice did they have if they wanted the money?
They had a faltering economy like the rest of Europe, the banks offered them money and because they were on a slightly dodgier footing compared to the rest of Europe the Banks could get away with charging much higher interest.

Greece is being Wongared out of existence.

 

[SpurtingLesbian]

I agree completely.

Greece entered the Euro on a political fudge and now it will likely fall out due to political incompetence.

That doesn't make it a mistake for the other nations. If anything this will strengthen the Euro.

The only potential country now at risk is Portugal but I think a lesson will be learned on Greece.

Portugal are only one of a number of countries in the same boat which is why the EU is taking as tough a line as they can, to use Greece as an example. The EU won't bail you out, you have to repay your debts even if it kills your country.
The Greeks are demanding a bit of extra time to pay back the loan so they can keep essential services running and do things like pay pensioners and the increasing numbers of the unemployed enough to eat.

 

[Lionel Naismith]

you are wrong.

 

[peteblue]

Hahahahaha.....this is the ballot question....

"Should the plan of agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and comprises of two parts, which constitute their unified proposal? The first document is entitled 'Reforms for the completion of the current program and beyond' and the second 'Preliminary debt sustainability analysis'."

Yes or No ?.................you couldn't make this stuff up........

 

[The Cowboy]

Hahahahaha.....this is the ballot question....

"Should the plan of agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and comprises of two parts, which constitute their unified proposal? The first document is entitled 'Reforms for the completion of the current program and beyond' and the second 'Preliminary debt sustainability analysis'."

Yes or No ?.................you couldn't make this stuff up........

This is like one of those University Challenge questions, where Paxman goes into some sort of linguistical trance, spouting about 100 words of utter gibberish, and you're left thinking 'not only do I not know the answer, I cannot even comprehend the question'.

(the answer is usually '0' or 'x' though)

 

[Tubey]

Hahahahaha.....this is the ballot question....

"Should the plan of agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and comprises of two parts, which constitute their unified proposal? The first document is entitled 'Reforms for the completion of the current program and beyond' and the second 'Preliminary debt sustainability analysis'."

Yes or No ?.................you couldn't make this stuff up........

To be fair, it's not like it could have been this:

 

[rascal]

In the grand scheme of things, 1.1bn is nothing.

 

[roydo]

In the grand scheme of things, 1.1bn is nothing.

Yep. We will probably pay something like that just for the planning permission for HS2.

 

[ToffeeDoug]

Hahahahaha.....this is the ballot question....

"Should the plan of agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and comprises of two parts, which constitute their unified proposal? The first document is entitled 'Reforms for the completion of the current program and beyond' and the second 'Preliminary debt sustainability analysis'."

Yes or No ?.................you couldn't make this stuff up........

Sorry Jeremy, could you repeat the question please?

Perhaps the ballot paper should contain a terms and conditions box, which you have to tick to show that you have read and understood not only the question but all the relevant material behind it.

 

[davek]

Something big just happened? Deal perhaps?

 

[roydo]

Something big just happened? Deal perhaps?

Fudge you mean

 

[davek]

Fudge you mean

I can see why for both sides: Syriza face having to step down after Sunday and call fresh elections; the creditors (in all their guises) must be feeling the heat off the bond markets and stock exchanges which are unstable now.

Some deal on pensions and a vague commitment to debt write down in the future could get everyone off the hook.

 

[roydo]

I can see why for both sides: Syriza face having to step down after Sunday and call fresh elections; the creditors (in all their guises) must be feeling the heat off the bond markets and stock exchanges which are unstable now.

Some deal on pensions and a vague commitment to debt write down in the future could get everyone off the hook.

Yep. Rinse and repeat in 6 months time.

 

[peteblue]

Yep. Rinse and repeat in 6 months time.

Indeed, if they agree anything it will just put off the sad day. Kicking the can down the road is the technical term......