Greek Financial Crisis

[Reidy's Bottle Of Grecian]

so will it be 10 Euros to a Quid tomorrow ?


I'll hold off booking the hol just in case.

 

[manxtoffee]

The referendum is more a less a cheeky Jose Mourinho style poke in eye at their aggressors.

Greeks are definitely pulling another boner here..

 

[sd_1992]

What does 'the right' have to do with it. Stereotyping those that wish to see the EU improve really doesn't help........

It's not as if we are in a thread where a hard left party is probably going to be the first to take a country out of Europe of anything... any excuse to bash the right

 

[Librarian]

 

[Chang Elephant]

so will it be 10 Euros to a Quid tomorrow ?
I'll hold off booking the hol just in case.

Bought mine this morning, thought the Greeks would bottle it and vote yes. Life's a gamble.

 

[Donald Twain]

Some of my best mates are Greek.

 

[mikewex]

Greece 2010: EU, EU, we haven't had a budget within 3% of being balanced since the Army quit power, and now we have a huge debt and a global recession. Help!
EU 2010: Er, OK, here is €110bn, but for the love of god, try to reign in spending.
Greece 2011: EU, EU, we are still in trouble and now our banks are tottering.
EU 2011: OK ok, here is another €130bn, including €48bn to keep your banking system alive. But please please get your spending under your income.
Greece 2011: EU, we can't survive under private sector debt.
EU 2011: Ok, we have pursuaded the private banks to completely write off 55% of your €200bn debt to them, the rest we'll repackage as low rate long duration debt.
Greece 2012: EU, we are still in trouble, please help us.
EU 2012: Ok we have reduced your interest profile too under 2.5% of GDP which is way lower then bulk of EU bailout nations, and nearly at Frances level, and have pushed your maturity profile out to 16.5 years, so you don't even need to worry about it in the short term.
Greece 2014: We have finally gotten the budget to surplus.
Greece 2014 (under new management): We don't like this surplus, all this money needs to be spent in our economy, we want to remove it, and another tranche of bailout.
EU 2014: Eh, no, Ted.
Greece 2015: We want a debt write off and a new bailout.
EU 2015: That's not really viable is it?
Greece 2015: Then I take it to democratic referendum. People, EU is a terroristic blackmailing leech that is trying to destroy us, vote No if you agree with me!
Greeks 2015: NO!
Greece 2015: See? Now you give us write-off, new bail out and extend liquidity to banks from current €87bn.
EU 2015: ~tumbleweed~

 

[davek]

*breaks plates, drinks ouzo, laughs bollocks off as the neo-cons and BBC start to flounce*

 

[bizzaro]

*breaks plates, drinks ouzo, laughs bollocks off as the neo-cons and BBC start to flounce*

Commie

 

[davek]

Commie

The people have spoken in the cradle of democracy.

Please respect the proletariat's decision and stand aside.

 

[marnie]

Samaras resigns. lol

 

[rascal]

So we arrive to the present. The IMF looks back at its diagnosis in November 2012 and says, the Greeks did not follow our advice; it is no surprise that they are in a mess and they need more debt relief. The truth is that the Greeks are in a mess precisely because they followed the IMF’s austerity advice and because the promised elixir of structural reforms was illusory.

Former IMF head Ashoka Mody

 

[JammyP]

That's enough for now. Then the banks need the taps turning back on from the ECB this week...which they will. Then the deal making begins...which it will.

There's no question this is a massive victory for ordinary people who've put their faith in a government pledged to ending austerity.

Not a victory until the ref blows the whistle. And the Germans are good at penalties.

 

[davek]

Not a victory until the ref blows the whistle. And the Germans are good at penalties.

How good are they at snookers, because they need to get out of half a dozen now.

 

[JammyP]

Samaras resigns. lol

From West Brom?