Greek Financial Crisis

[Clint Planet]

Bit of a long drawn out ' crisis 'this, isnt it?

Such cynicism in one so bald.

 

[roydo]

Yanis Varoufakis ‘Germany has an interest in breaking us’

Or German Banks want some money back?

Germany doesnt want to "break" anyone. They are desperate for an economic illiterate experiment to work. Or rather the politicians do.
Been a mess waiting to happen. It just happens to be Greece. (All be it they were always the short priced favourites to show the whole thing up for the crock of manure the whole thing is)

 

[Clint Planet]

Yanis Varoufakis ‘Germany has an interest in breaking us’

He's absolutely right, of course. Varoufakis is (was) a genuine threat to the 21st neo-liberal capitalist gravy-train. They hated him because he kept pointing out uncomfortable shiz that made them look kinda bad.

 

[hullefc]

Or German Banks want some money back?

Germany doesnt want to "break" anyone. They are desperate for an economic illiterate experiment to work. Or rather the politicians do.
Been a mess waiting to happen. It just happens to be Greece. (All be it they were always the short priced favourites to show the whole thing up for the crock of manure the whole thing is)

A recent study by the Greek economist Yiannis Mouzakis, based on European Commission review documents, IMF evaluation reports and Greek government budget documents, revealed that only 27 billion euros – a meagre 11 per cent of the total funding – were used for the Greek state’s operating needs. Which squares with the fact that the Greek government, as a result of the brutal belt-tightening imposed by the troika, has been running a primary surplus (i.e., its revenues have exceeded expenses) since 2013.

What about the rest of the money? Well, it went to the country’s banks and foreign creditors, mostly French and German banks. In other words, more than 80 per cent of the bailout funds were used to bail out, either directly or indirectly, the financial sector (both Greek and foreign) – not the Greek state. In the process, the overwhelming majority of Greek government debt was shifted from the private sector to the public sector, with other eurozone governments now liable for around 65 per cent of Greece’s debt (and another 20 per cent in the hands of the ECB and IMF)".

 

[roydo]

He's absolutely right, of course. Varoufakis is (was) a genuine threat to the 21st neo-liberal capitalist gravy-train. They hated him because he kept pointing out uncomfortable shiz that made them look kinda bad.

I dont disagree with that article. But that does beg the question why he/they got into bed with the Euro in the first place doesnt it?

 

[hullefc]

He's absolutely right, of course. Varoufakis is (was) a genuine threat to the 21st neo-liberal capitalist gravy-train. They hated him because he kept pointing out uncomfortable shiz that made them look kinda bad.

They don't like people, movements or governments saying no to the establishment.

 

[hullefc]

I dont disagree with that article. But that does beg the question why he/they got into bed with the Euro in the first place doesnt it?

Syriza didn't.

 

[roydo]

They don't like people, movements or governments saying no to the establishment.

They do not. Which again, begs the question, why did they think it was a good idea to allow Greece into the Euro? Everyone knew it was flawed, everyone knew eventually it would fail, so all concerned should face the music. Not just Greece.

 

[potato]

dont understand how they are in a crisis, didn't they win the euro's not that long ago and host the olympics

how can a poor country do that? if they can, why not let namibia host the world cup or malta the euro's

 

[roydo]

Syriza didn't.

Soz, I meant Greece/Germany et al mate.

 

[AussieToffee]

Yanis Varoufakis ‘Germany has an interest in breaking us’

 

[Deleted member 28206]

Such cynicism in one so bald.

Not really a crisis in my opinion.

 

[Clint Planet]

I dont disagree with that article. But that does beg the question why he/they got into bed with the Euro in the first place doesnt it?

Are you confusing the current Greek government with the one that took them into Europe, perchance? One of the things we need to be careful of in things like this is making assumptions about whole bodies of peoples.

 

[Clint Planet]

I'm embarrassed about "perchance," there.

 

[Professor Toffee]

Greeks will beg, Europe will accede, Syriza will collapse, right wing govt within 3 months
Syriza couldn't run a a charity shop as I've said before lol