Greece's Loss Your Gain?

[onestepcsy37]

I applaud Merkel and hope she continues to stand firm.

Greece is the equivalant of a cocaine smoking friend whose habit you have been supporting by lending them money. Now you tell him no more loans unless he goes into rehab and he screams out that you are destroying his freedom. Greece badly needs to be stood up to and told they are not going to get another euro. The entire Greek economy is a small fraction of the European GDP. And a giant drain on it. They won't be missed. They need to go back to the drachma and get a taste of reality.

[leftbrainstuff]

Originally Posted by woodenboats

So did the german government. Then they donated the profit to Greece. Stupid germans, eh?

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Go Greece. Stick it to the German Banks.

Merkel is trying to avoid realising the 80B debt (320B now). Shouldn't have lent it should they?

The Greeks need to devalue their currency. The Euro zone is only a monetary and not a fiduciary arrangement. A failed attempt to be just a little bit pregnant.

When are we going to make these bankers responsible?

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[K_V_B]

Originally Posted by leftbrainstuff

Go Greece. Stick it to the German Banks.

Actually the banks hardly have any Greek debt on their ledgers anymore. They already took several haircuts ages ago. Most of the debt is to other EU countries.

So Greece is really sticking it to the EU taxpayers. Quite a few of them have lower standards of living than the average Greek (and worse weather). That the left applauds them proves that the left is bonkers.

[hoppy]

Originally Posted by nelson.groome

Greece Surrenders its Sovereignty to Brussels
Posted on July 1, 2015 by Martin Armstrong
greekeuro

The Syriza government is backing down after the realization that Brussels will declare economic war on Greece by deliberately trying to plunge the country into total ruin, far worse than the sanctions imposed on Russia. This is a sad day for the entire world. It is a terrible example that the Troika is the new equivalent of a Roman Triumvirate – the death of democracy. Europeans will remember this day for it is when national sovereignty died.

We have a copy of a letter sent from Greece to the EU accepting all terms. This is a surrender of sovereignty and no doubt the truth of this turnaround will be hidden from the public at large worldwide – not just the Greek people. All our fears of moving into Economic Totalitarianism are coming true. Democratic principles are dead: long live Totalitarianism. No doubt, this was the toast in Brussels last night (behind the curtain, of course).

Posted in Current Events, Europe's Current Economy, Greece | Tagged Brussels, Economic Totalitarianism, EU, Greece, Syriza, Troika

No need to post quotes from idiot American conspiracy theorists who have been imprisioned for conspiracy to commit securities fraud, commodities fraud and wire fraud.

There is no need for input into this discussion from people who's minds are off with the pixies.

[Kokanee]

Its not a matter of left vs right, bankers vs little guy, conspiracies, need for low taxes etc.

Bring it back to simple principles. Work hard, spend wisely, don't over borrow.

If your country does 2 / 3 - it will do ok. Even 1 /3 will keep it afloat. 0 /3 and somethings got to change.

Very few countries getting 3 marks; Maybe Norway?

[hoppy]

I like the Greek people but they are as just as much to blame for the situation as their politicians, business leaders, super rich and bankers.

I have never once seen a taxi meter turned on and all too often purchases I've made have not being rung up on the cash register. This is obviously just the tip of the iceberg of the black market here.

The Greeks attitudes to following the rules are most obvious out on the roads where barely half (or possibly less) riders of scooters and motorcycles wear helmets.

The Greek attitude to following the rules is how they tricked the EU into letting them join the Euro, it's how they built up a massive debt within the Euro zone and it is why Merkel and the rest are playing such hardball.

I don't think Germany or the German public will be willing to ease off on austerity until tax evasion by Greeks at all levels of society is tackled.

[adoxograph]

Back to the subject. I think the whole situation in Europe will sooner or later put pressure on the Euro as a currency. A lower Euro means cheaper boats for everyone who can pay in hard currency.

Buying a boat in Greece might be a problem though. Right now no-one in his right mind in Greece would accept a bank transfer. And I would not want to carry a briefcase full of cash in hard currency around any Greece marina right now, especially if everyone knows that I want to buy a yacht.

[paulanthony]

Well as we know the Euro monetary union is a federalist political utopia so I think more money will be forced onto them yet again after Sunday. Federalist Europe will not let it fail.

The debt is not that bad in itself, it's more of a problem that they have no growth which is why austerity is the only reliable fix stick at this time.

Greeks do not understand proper applied fiscal policy and the concept of taxation is simply and alien word to them so I expect the whole issue to be kicked down the road for another few years until public spending and debt interest burn out the next round of funding.

Forget cheap boats. Greeks understand profit quite well even though they like dressing on the left. It's civic responsibility and investment they can't quite master and why should they change when another bunch of idiots is willing to throw billions at them.

[Kokanee]

Here's one Greek boat that anchored alongside us which may be had for a large briefcase full of cash. (if you have a liking for modern art)

It belongs to Greek billionaire Dakis Joannou.

[hoppy]

Originally Posted by Kokanee

Here's one Greek boat that anchored alongside us which may be had for a large briefcase full of cash. (if you have a liking for modern art)

It belongs to Greek billionaire Dakis Joannou.

It's in my marina at the moment, just up from me.

The disruptive camouflage work well to confuse you which way it's facing but otherwise it goes to prove that money can't buy good taste

[valhalla360]

Originally Posted by onestepcsy37

I applaud Merkel and hope she continues to stand firm.

Greece is the equivalant of a cocaine smoking friend whose habit you have been supporting by lending them money. Now you tell him no more loans unless he goes into rehab and he screams out that you are destroying his freedom. Greece badly needs to be stood up to and told they are not going to get another euro. The entire Greek economy is a small fraction of the European GDP. And a giant drain on it. They won't be missed. They need to go back to the drachma and get a taste of reality.

More like Germany is the pusher and with Greece out of money, they are pushing Greece to prostitute themselves to get the money for the next hit.

If Germany wasn't benefitting, they would have let Greece go a few years ago.

[valhalla360]

Originally Posted by adoxograph

Back to the subject. I think the whole situation in Europe will sooner or later put pressure on the Euro as a currency. A lower Euro means cheaper boats for everyone who can pay in hard currency.

Buying a boat in Greece might be a problem though. Right now no-one in his right mind in Greece would accept a bank transfer. And I would not want to carry a briefcase full of cash in hard currency around any Greece marina right now, especially if everyone knows that I want to buy a yacht.

The question is what direction the pressure will be.

If they string Greece along for another few months, then yes, the Euro will be pressured down.

If they push Greece out, expect the Euro to be pressured up.

[SimonV]

Our news showed a document from Brussels advising Greece to 30% VAT . Did I read it wrong or is that true ?

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[Eleuthera 2014]

Originally Posted by onestepcsy37

I applaud Merkel and hope she continues to stand firm.

Greece is the equivalant of a cocaine smoking friend whose habit you have been supporting by lending them money. Now you tell him no more loans unless he goes into rehab and he screams out that you are destroying his freedom. Greece badly needs to be stood up to and told they are not going to get another euro. The entire Greek economy is a small fraction of the European GDP. And a giant drain on it. They won't be missed. They need to go back to the drachma and get a taste of reality.

I agree completely. I've been traveling in GR for decades; they have no sense of responsibility and biz was as usual ever since the first loan. Stick it to the German banks?? Why??? They were the good samaritans.

[K_V_B]

Originally Posted by valhalla360

More like Germany is the pusher and with Greece out of money, they are pushing Greece to prostitute themselves to get the money for the next hit.

If Germany wasn't benefitting, they would have let Greece go a few years ago.

It's not Germany that doesn't want to let Greece go. Greece itself wants to stay in the club, but doesn't want to comply with its bylaws.




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