Greek Financial Crisis

[rascal]

We cannot demand that new generations must pay for decades for the mistakes of their parents. The Greeks have, without a doubt, made big mistakes. Until 2009, the government in Athens forged its books. But despite this, the younger generation of Greeks carries no more responsibility for the mistakes of its elders than the younger generation of Germans did in the 1950s and 1960s.

https://medium.com/@gavinschalliol/thomas-piketty-germany-has-never-repaid-7b5e7add6fff


Spot on.

 

[The Esk]

It's having an impact on my business too. Potentially.

60% of revenue is from Europe in Euros.

The other 20% UK and 20% Row.

These clowns here don't understand what's going on in the real world.

Not sure why you feel the need to personalise the discussion with your description of those that don't follow your view. Your view and the views of others are equally valid on this forum. Personalising the argument weakens your stance.

Re the impact on your business, did you not consider hedging your Euro exposure earlier this year? The Euro was bound to come under pressure as the Greek situation moved to its conclusion.

 

[edge]

Of more pressing concern right now is 2.7 trillion being wiped off the shanghai stock market in just three weeks. That's equivalent to 11 years of Greek economic output.

There is another crisis afoot. Let's see how the Tories package this one, I somehow doubt that they'll be blaming the government of the day this time around...

the real problem over there is quite a lot of there loans business wise are are not give through normal financial institutions, it never shows up on paper so its hard to get a real grasp of whats going on.
that figure was stopped from getting worse by just 27 traders getting together so it shows you how much wealth is out there,
dosnt show the fianacal state some of there states are in due to borrowing though .
intresting all the same .

 

[Yorkie]

At the risk of sounding like one of those horrifically selfish Daily Mail articles (see the immigrants fleeing to Kos article): How will this affect the British holiday maker?
Hoping to go to Crete early next month.

 

[Reidy's Bottle Of Grecian]

Not sure why you feel the need to personalise the discussion with your description of those that don't follow your view. Your view and the views of others are equally valid on this forum. Personalising the argument weakens your stance.

Re the impact on your business, did you not consider hedging your Euro exposure earlier this year? The Euro was bound to come under pressure as the Greek situation moved to its conclusion.

He's missing his 'silver lining' to it all as well.....

At Least We're Not Villa

 

[orly]

Damo sooooooo close to another GOTexit

 

[edge]

To those who celebrated yesterday:

@davek @magicjuan @edge @chicoazul

Well in. You're on the same side and delusion as Nigel Farage:


UK eurosceptic party leader Nigel Farage welcomed the result. He tweeted: "EU project is now dying. It's fantastic to see the courage of the Greek people in the face of political and economic bullying from Brussels.

View attachment 11526

The gang of four heard that some were before has a ring to it, never though I would see davek and nigel grouped together though he won't like that.

 

[rascal]

the real problem over there is quite a lot of there loans business wise are are not give through normal financial institutions, it never shows up on paper so its hard to get a real grasp of whats going on.
that figure was stopped from getting worse by just 27 traders getting together so it shows you how much wealth is out there,
dosnt show the fianacal state some of there states are in due to borrowing though .
intresting all the same .

Just heard that on Wake Up To Money. It's essentially nothing more than a minor concern.

 

[edge]

Damo sooooooo close to another GOTexit

Hope not livens the place up none of your fence sitting fram damo

 

[Joey66]

Lets all buy Greek Yoghurt -They need help big style our forien aid budget could help them and the powerful germans , and other EU countries could chip in to support the banks to let them exit - they must have had support to join the Euro lets give them support to set up their banks and get their own currency - its their only way obviously austerity can only be taken so far as proved in the vote!

 

[edge]

Just heard that on Wake Up To Money. It's essentially nothing more than a minor concern.

Very volatile out there a the moment the Japanese markets did something similar last week, wonder whats making it happen?

 

[davek]

"View from the trading room floor
“The Greek bloke’s resigned. He’s run rings round ‘em.”

That was how one IG trader was overheard explaining the news of the resignation of Greek finance minister Yanis Varoufakis following Sunday’s referendum, as he chatted on the phone in early trading this morning, writes Simon Goodley.

To say the City is surprised by the news coming out of Greece is an understatement. Like eurozone officials it had expected that last week’s trailer of capital controls would be enough to get the country to vote yes, and IG priced a yes vote as a 60% chance last week.

So what now? Chris Beauchamp, senior market analyst at IG, said: “[German stock market] the Dax has opened down but is surging back - much like it did last Monday and much like the euro is doing. It is coming back on Varoufakis’s resignation - possibly more hope than expectation, but if you take out the most irritating man in the room then you might get a more reasonable response from Germany and France”.

Good piece by Paul Mason on the Varoufakis resignation and hints why the market reaction is positive: http://blogs.channel4.com/paul-mason-blog/yanis-varoufakis-economist-play-politics/4081

 

[The Cowboy]

Good piece by Paul Mason on the Varoufakis resignation and hints why the market reaction is positive: http://blogs.channel4.com/paul-mason-blog/yanis-varoufakis-economist-play-politics/4081

Interesting how you are sticking solely to Paul Leftie Mason for your articles.

 

[magicjuan]

No mate. REAL world.

What that actually translates to is, you believe you personally are going to be affected.

On the flip side are myriad others who have been affected for a very long time. They care about each other. They are making a stand, on a point of principle, look it up if you're not sure what that is.

I would hazard a guess your employment role be connected to finance?

 

[The Esk]

He's missing his 'silver lining' to it all as well.....

At Least We're Not Villa

Would that be a Greek Villa?