Grexit to Taxit
05 July 2015, 12:56 AM
#32
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05 July 2015, 11:20 AM
#36
It takes two to tango and there is no such thing as "free money".
As the author of the "Confessions of an Economic Hitman" said, "There is no law that stops you exploiting the idiot" and this is exactly what's happened.
Corrupt and greedy politicians have used the loans to pay themselves and their friends while the lenders at the same time exploiting this fact to make countries bankrupt and making them their protectorates in return.
Is it a coincidence that EU has been subsidising Greek farmers to extirpate their vineyeards?!
Who has this been benefitting from this?
Greedy and idiotic Greek farmers with a short term view grabbed this opportunity to make money while the Germans and the French benefitted.
This is not the only example.
Greece should have never joined the euro.
With the help of Goldman Sachs, the debt figures were reduced and everyone acted as if they didn't know but now it's the middle class and poor Greek citizens that are paying the price of converting the banks' private debt into public!
Some Greek people have benefitted from the customer relationships between governments and voters in the last 35 years but that's not the majority.
The problem is that, as usual, innocent people are having to "take the snake out of the hole" now and the middle class is disappearing getting poor while the rich are getting richer.
https://video-lhr3-1.xx.fbcdn.net/hv...30&oe=55992ADA
Last edited by fpan; 05 July 2015 at 11:41 AM.
06 July 2015, 09:22 AM
#42
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Finance ministers gone
Only commented to missus yesterday how weary he looked on the box last night , a wonder he's been able to cope this far!
Only commented to missus yesterday how weary he looked on the box last night , a wonder he's been able to cope this far!
06 July 2015, 09:46 AM
#43
06 July 2015, 01:33 PM
#44
Troika resigned him in order not to loose face for the negotiations to restart.
Fortunately he is still a member of the Greek parliament so hopefully he can advise quietly.
I reckon after putting a new person in charge the negotiations will start again.
It's all a game, they will not let Greece come out of the EU.
Fortunately he is still a member of the Greek parliament so hopefully he can advise quietly.
I reckon after putting a new person in charge the negotiations will start again.
It's all a game, they will not let Greece come out of the EU.
Last edited by fpan; 06 July 2015 at 01:37 PM.
06 July 2015, 03:50 PM
#47
I think the EU (read Germany and France) and the IMF will say enough is enough and will say goodbye to Greece. I'm guessing it and the rest of the EU have been shoring up the currency in preparation some time ago, perhaps as early as end of 2014. I think the inexperienced Greek government have been played by the Troika, making the economic situation in Greece untenable for the Greeks with demands for increasingly austere policies and calls for "unrealistic" repayments of the debt. In response, Tsipras, rather than strengthening his position for a negotiation, has unwittingly engineered an exit he has no control of. It is a way out for the EU (Germany/France) in that it will no longer be propping up a massively failing economy, and is effectively an exit decided by the Greek people. If this is the case, I imagine the Greek bank will start dusting off the printing presses in preparation for printing the Drachma again and people will start using the new currency, albeit at a massively devalued rate in the coming weeks.
The alternative is that if Greece sets a precedence by successfully negotiating new terms and an extension and restructuring of their debt, then I'm guessing that the likes of Italy, Ireland, Spain and Portugal may also want to do the same; not something that the EU (Germany/France) nor the UK would be willing to entertain.
The alternative is that if Greece sets a precedence by successfully negotiating new terms and an extension and restructuring of their debt, then I'm guessing that the likes of Italy, Ireland, Spain and Portugal may also want to do the same; not something that the EU (Germany/France) nor the UK would be willing to entertain.
Last edited by jonc; 06 July 2015 at 03:52 PM.
06 July 2015, 06:22 PM
#49
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) left from my recent trip to Cyprus. That might get an island or two.
13 July 2015, 10:29 PM
#53
So the Greek government have manage to negotiate a worse deal than they could have had 2 weeks ago. Because Tsipras rejected the deal 2 weeks ago and the economy worsened dramatically during that time, the country will now have to accept an even more austere deal, not good for a Tsipras who was elected to end austerity. They now not only do they have to make deeper cuts and reforms in the pension policy and increase taxes further, they also have to effectively sell off and privatise €50bn of Greek's publically owned assets and pay off an even larger bailout loan on top of their existing loans. I don't know what is worse, Greece's growing debt blackhole or Brussel’s desperation in saving face in keeping the EU gravy train rolling. It's lose-lose on a grand scale. No doubt the UK will face fresh demands from the EU to contribute a further billion to this bailout. You may as well burn that money. 
13 July 2015, 11:51 PM
#54
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So the Greek government have manage to negotiate a worse deal than they could have had 2 weeks ago. Because Tsipras rejected the deal 2 weeks ago and the economy worsened dramatically during that time, the country will now have to accept an even more austere deal, not good for a Tsipras who was elected to end austerity. They now not only do they have to make deeper cuts and reforms in the pension policy and increase taxes further, they also have to effectively sell off and privatise €50bn of Greek's publically owned assets and pay off an even larger bailout loan on top of their existing loans. I don't know what is worse, Greece's growing debt blackhole or Brussel’s desperation in saving face in keeping the EU gravy train rolling. It's lose-lose on a grand scale. No doubt the UK will face fresh demands from the EU to contribute a further billion to this bailout. You may as well burn that money.
Whether they pay it back as planned is unknown.
There's your reason.
14 July 2015, 12:24 PM
#55
Same as it ever was. Here. in France, Hollande was elected to end austerity and spend their way out of recession.
As soon as he's in, he sees the books, realises it can't be done, and they continue as before...except that now it's his snout in the trough, not Sarkozy's.
Hollande is, I believe, now THE most hated French president ever.
As soon as he's in, he sees the books, realises it can't be done, and they continue as before...except that now it's his snout in the trough, not Sarkozy's.
Hollande is, I believe, now THE most hated French president ever.
14 July 2015, 12:34 PM
#56
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Same as it ever was. Here. in France, Hollande was elected to end austerity and spend their way out of recession.
As soon as he's in, he sees the books, realises it can't be done, and they continue as before...except that now it's his snout in the trough, not Sarkozy's.
Hollande is, I believe, now THE most hated French president ever.
As soon as he's in, he sees the books, realises it can't be done, and they continue as before...except that now it's his snout in the trough, not Sarkozy's.
Hollande is, I believe, now THE most hated French president ever.
