Tidgy

http://www.bbc.co.uk/news/world-europe-30975437

yep, we want to still spend money, despite the countries broke.

So question is how long till greece collapses?

ditchmyster

iTrader: (7)

Just goes to show you how stupid people are.

stevebt

iTrader: (8)

we will find out next week, I hope it doesn't affect our price to euro as I heading to Spain in the coming months so want the best deal

In the last 100 years Greece has went bankrupt/ defaulted on debt 9 times so what do you think the outcome will be

Matteeboy

We'll be next ;-)

Tidgy

tbh i suspect your gonna get plenty of euro's to pounds now lol

f1_fan

iTrader: (9)

Good news IMO. The whole deck of cards that is the political experiment called the EU will hopefully start to come crashing down very soon!

ditchmyster

iTrader: (7)

Not a chance, they'll bail it out just like the banks.

Tidgy

EFA

paulr

90% of all Greek funding has gone to the banks. Bring them all down IMO.

My house is paid for, and I have an allotment. Food and shelter. Nothing else needed. Bring down the whole rotten system.

Tidgy

your an optimist then,,,,,,,,,,,,,,

paulr

Always, but I prepare for the worst.

dnc

It will be interesting to see how the next few weeks, months and years pan out. If the anti-austerity party win I half expect the EU movers and shakers to call foul and ask for a re-run of the election until they get the 'right' result.

The left will get in, the Greeks will default, it just depends how much of a concession Merkel is willing to make. The EU will continue to prop up Greece and throw good money after bad IMO.

richie001

iTrader: (3)

I like how they told the Germans/French,we're not going to pay you back.

paulr

Most likely outcome is the new party make a dogs ear of it, then get voted out.

dpb

Can't be imagine it'l do the euro any good

Petem95

They'll be out the EU before the end of the year now surely? I can't imagine Germany will allow them to renegotiate their debt repayments on the sort of terms they'll want, and let's face it they probably couldn't repay the debt even if they wanted to.

Getting out the failed socialist experient that is the EU is probably the best option for Greece to be honest - at least they can control their own destiny now, but on the other hand they will be in for a bit of a shock when reality bites and they realise austerity is the ONLY option as their economy is weak and nobody will lend to them.

Expect the next to jump ship will be Italy.

f1_fan

iTrader: (9)

FFS

Petem95

Oh look it's F1 fan. Yes I'm aware they have elected a left-wing government, but it's more Marxist than Socialist, it's not as simple as just left-wing and right-wing you know

GWJ

Should never have let these unstable 3rd rate countries join in the first place

f1_fan

iTrader: (9)

Whoosh, the sound of my point going right over your head. Forget it, you are not bright enough, keep spouting your nonsense if it gives you a sense of self importance

Alan Jeffery

You forgot the obligatory gun.

ScoobyWon't

It's just a case of who blinks first - EU threaten to kick them out of the Euro currency, which the Greeks want to retain, or the Greeks who threaten to default and leave the EU if the rest don't write off the debts.

daveyj

iTrader: (1)

Totally different kettle of fish I know but Iceland went bust and was one of the fastest growing economies in the EU shortly after that. Let them default. Not the first time and won't be the last.

Petem95

Agree, I think bankruptsy is their best option. Re-adopt the Drachma and start focusing on attracting tourists with cheap holidays (as their curreny value will be quite low it will be a cheaper destination).

The EU have got a real issue is they go down that path though. If you owe £100k to the bank and can't pay, you have a problem. If you owe 250billion and won't pay the bank has a problem..

dpb

Exactly, can't see it doing much for the euro

lozgti1

What is the reality of it all though?

Tidgy

Reality is greece is totaly broke, debt is massive GDP is low. The people have voted in a party that promised to stop the spending cuts, with what seems to be the pledge that their countries debt will just simply get written off if they ask nicely or stamp their feet.

hodgy0_2

Lots of debt gets written off, not something peculiar to a "left wing Greece"

What happened to all the private sector debt contained in the US/UK banking/finance sector a few years ago

Tidgy

shall see what happens, from what i can gather eurozone is allot more shielded from greece should it go **** up, so the emphasis on keeping it afloat may not be as strong as it was.

alcazar

iTrader: (2)

Might be like when the French elected Hollande, on a promise of no more austerity, spend their way out of debt, etc.

As soon as he's in power....whoosh, changes his views and nothing else.

The French hate him now.