Greek Financial Crisis
- Thread starter Pienaar's gloves
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think you might find, it was right wing, free market capitalism that crippled greece
roydo
in memoriam - 1965-2024
Either way, it was Politicians that done it.
I'm not ruling out Thatcher to be honest with you.
I see Sunday opening for shops etc is included in the deal.That will rattle a lot of people.
tommye
Player Valuation: £120m
tommye
Player Valuation: £120m
hasn't that fukker rotted away yet?
I believe the Troika are making use of a ouija board.
tommye
Player Valuation: £120m
Every cloud has a silver lining though.
"Deliveries of aluminium foil products fell by 2.5% to 218,500 tonnes in the first three months of 2015 compared with the first quarter of 2014 (224,000 tonnes). But clear signs of stronger demand emerged in February and March, according to figures released by EAFA, the European Aluminium Foil Association. This followed a surge in demand in Greece, which threatened to propel the European market back to growth."
http://www.alufoil.org/statistics.html
"Deliveries of aluminium foil products fell by 2.5% to 218,500 tonnes in the first three months of 2015 compared with the first quarter of 2014 (224,000 tonnes). But clear signs of stronger demand emerged in February and March, according to figures released by EAFA, the European Aluminium Foil Association. This followed a surge in demand in Greece, which threatened to propel the European market back to growth."
http://www.alufoil.org/statistics.html
Probably because the Greeks had to make millions of tin hats because they knew they were about to get beaten around the head by Merkel and Co.
well they have done a deal. haven't seen the details yet, hope its a good one for the Greek people. in brief.from bbc
After some 17 hours of summit talks eurozone leaders announced a new deal to rescue Greece - a third bailout.
There are still significant hurdles to clear, however. And after months of argument and delay between the Greek government and the lenders, the eurozone wants the new sense of urgency to be maintained.
The risk of Grexit - a Greek exit from the euro - has not gone away. So what are the key points of the deal? (You can read the full text of the agreement here.)
Greek ferry transport is among the sectors targeted for liberalisation
After some 17 hours of summit talks eurozone leaders announced a new deal to rescue Greece - a third bailout.
There are still significant hurdles to clear, however. And after months of argument and delay between the Greek government and the lenders, the eurozone wants the new sense of urgency to be maintained.
The risk of Grexit - a Greek exit from the euro - has not gone away. So what are the key points of the deal? (You can read the full text of the agreement here.)
- The Greek parliament must immediately adopt laws to reform key parts of its economy - by Wednesday. The reforms include: streamlining the pension system, boosting tax revenue - especially from VAT, liberalising the labour market, privatising the electricity network, extending shop opening hours
- The eurozone agrees in principle to start negotiations on a loan package for Greece worth €82bn-86bn (£59bn-£62bn; $91bn-$96bn)
- The loan will come mainly from the European Stability Mechanism (ESM) - the eurozone bailout fund. But the International Monetary Fund will also be asked to make a contribution from March 2016
Greek ferry transport is among the sectors targeted for liberalisation
- A new trust fund will be set up, managed by Greece, with €50bn of Greek assets. It is a mechanism for paying off part of the total ESM loan. Half of the €50bn will be used to fund recapitalisation of Greek banks, the other half will go towards reducing Greece's debt mountain - by privatising assets - and investing in Greece.
- Greece will get short-term bridge financing to avoid bankruptcy - separate from the ESM. The amount is estimated to be €7bn by next Monday and another €5bn by mid-August
- Out of the total ESM loan about €10bn will be used immediately to recapitalise Greek banks - but the banks may need €25bn in total
- The European Central Bank and eurozone finance ministers will tightly monitor Greek compliance with the bailout conditions
- Negotiations on the ESM bailout will begin only after the plan is approved by the parliaments of Finland, Germany and Greece
- The eurozone is ready if necessary to extend the repayment period of Greek debt (by debt rescheduling), but debt will not be written off (so no "haircut")
- The European Commission will try to mobilise €35bn - outside the ESM loan - to help Greece with growth and job creation.
marty mcfly
Player Valuation: £40m
I think this crisis is showing Europe for being what it is. A banking technocracy. Win or loose it's the end of the EU.
I can't believe that the austerity plans put forward by Alexis Tsipras to try and get things up and running again after the EU got pissed-off and pulled out of the negotiating's, are actually a lot worse than the original plans put forward by the EU that he rejected and put to a referendum to the Greek people. First thing the Greek's should do is try and get the tit out of power.
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