Greek Financial Crisis

[DualityNSNO]

Hahaha. I used to like having a bevvy with my Greek and Bulgarians friends beards ago. They constantly went at each other over obscure historic stuff.

The Greeks are ace, just not to Bulgarians, and vice versa!

Tbh it's beginning to calm down lately, for some reason. We're still going at each other a lot, mind, but Greeks now come to Bulgaria on holiday and we go there, good stuff.

I've even got a new flatmate here in Glasgow and she's Greek lol

 

[kithnou]

Tbh it's beginning to calm down lately, for some reason. We're still going at each other a lot, mind, but Greeks now come to Bulgaria on holiday and we go there, good stuff.

I've even got a new flatmate here in Glasgow and she's Greek lol

tell her from me...

Της στέλνω τους χαιρετισμούς μου

 

[DualityNSNO]

tell her from me...

Της στέλνω τους χαιρετισμούς μου

Oh yeah you're Greek aren't you? lol

Will do (, malaka )

 

[atrottel]

It's always the evil financial institutions fault isn't it? Never the problem of spending beyond your means or socialism at its core.

So let's send those who were at the head of these institutions to jail and it still glosses over the bigger issues.

If there is one consolation for the Greeks as their beautiful country - full of culture and history - goes down the plughole, it is that they can tuck their children in at night and whisper to them softly "At least we're not Texas".

 

[kithnou]

Oh yeah you're Greek aren't you? lol

Will do (, malaka )

here you all go...

 

[magicjuan]

It's always the evil financial institutions fault isn't it? Never the problem of spending beyond your means or socialism at its core.

So let's send those who were at the head of these institutions to jail and it still glosses over the bigger issues.

Show an example whereby socialism exists under capitalist terms and can influence to that degree.

The heads of 'finance' may have been charged in th states but over here they have been rewarded for their gambling sddiction that has cost us individuals dearly with bonuses, relaxed regulation and an almost free rein to continue

 

[Tramps_mate]

Kick them out the EU, take the hit and let them crumble.

 

[The Esk]

It's always the evil financial institutions fault isn't it? Never the problem of spending beyond your means

I think @atrottel's point was more to do with the fact that it was deemed OK or necessary to bail out massive financial organisations around the world (admittedly not so much in the US) yet when a country finds itself in similar circumstances then there's much less commitment to help other than on the most stringent terms which usually effect the people on the street rather than the people responsible for the situation.

There's no free lunch here in letting Greece drop out of the Euro. Not only will it have huge implications for the Greeks, but it will have huge implications for other countries on the periphery in economic terms. Spain and Portugal should be looking over their shoulders. Two other points - once the EU drops one of its own then that drives a huge hole through the EU community. Imagine the scenario in the States where one particularly poorly performing State (in economic terms) is told by Washington, "sorry guys, you're out of the US Dollar" - that's what we are talking about here.

Secondly, let's remember the role of the institutions in this mess. It was Goldman Sachs who devised products that allowed Greece and other nations to hide their true indebtedness to meet Euro convergence criteria. Products which subsequently proved enormously costly as they unraveled in the chaos of 2007/8.

Greece needs reform for sure, but the least expensive way of dealing with the problem is retaining the Euro and their EU membership, supporting their economy (which in EU terms is tiny) and seeking reform especially in tax collection.

 

[Woolly Blue]

We fly to Athens next weekend so, if they can't sort it out, I'm expecting complete chaos the week after.
With luck, we'll be marooned over there for the summer. If that happens @Groucho and @the esk will be putting in extra shifts on the transfer threads

 

[Groucho]

We fly to Athens next weekend so, if they can't sort it out, I'm expecting complete chaos the week after.
With luck, we'll be marooned over there for the summer. If that happens @Groucho and @the esk will be putting in extra shifts on the transfer threads

Well send @Dylan out in his sub to bring you back mate.

 

[formerly manx toffee]

They could start collecting taxes

 

[Woolly Blue]

Well send @Dylan out in his sub to bring you back mate.

No need mate
We'll just sit in here

running up our tab.

"Pay you next year ?"

"No problem"

 

[The Esk]

*Phones Restaurant Dilaila Katsadia to warn of likely default risk

 

[kithnou]

I think @atrottel's point was more to do with the fact that it was deemed OK or necessary to bail out massive financial organisations around the world (admittedly not so much in the US) yet when a country finds itself in similar circumstances then there's much less commitment to help other than on the most stringent terms which usually effect the people on the street rather than the people responsible for the situation.

There's no free lunch here in letting Greece drop out of the Euro. Not only will it have huge implications for the Greeks, but it will have huge implications for other countries on the periphery in economic terms. Spain and Portugal should be looking over their shoulders. Two other points - once the EU drops one of its own then that drives a huge hole through the EU community. Imagine the scenario in the States where one particularly poorly performing State (in economic terms) is told by Washington, "sorry guys, you're out of the US Dollar" - that's what we are talking about here.

Secondly, let's remember the role of the institutions in this mess. It was Goldman Sachs who devised products that allowed Greece and other nations to hide their true indebtedness to meet Euro convergence criteria. Products which subsequently proved enormously costly as they unraveled in the chaos of 2007/8.

Greece needs reform for sure, but the least expensive way of dealing with the problem is retaining the Euro and their EU membership, supporting their economy (which in EU terms is tiny) and seeking reform especially in tax collection.

How dare you hijack this thread with logic Sir!

 

[kithnou]

We fly to Athens next weekend so, if they can't sort it out, I'm expecting complete chaos the week after.
With luck, we'll be marooned over there for the summer. If that happens @Groucho and @the esk will be putting in extra shifts on the transfer threads

Καλό ταξίδι στην πανέμορφη Ελλάδα. Που θα πάτε; Στα νησιά;