Greece leaves the Euro rescue program

[Jimbuna]

Originally Posted by STEED

I saw this pop up on the media business news all giving Greece the thumbs up well done very soon all debts and loans payed off. I was left thinking wow what sherbet dip you been snorting.

I'd change my media sources if I were you.

Will Greece Ever Pay Off Its Debt?

https://www.investopedia.com/article...y-its-debt.asp

In total, Athens’ government debt pile stands at €321bn. Of this, €248bn is owed to its official sector creditors: its fellow member states (Greek loan facility), the eurozone’s two rescue funds (European Financial Stability Facility and European Stability Mechanism), the International Monetary Fund, and the European Central Bank.

These liabilities have accumulated over the last six years as Greece has been subject to three international rescues. Under its current terms, the country will still be paying back its debt until 2060

https://www.ft.com/content/b3124770-...a-b7a1b59c028e

[Chris K]

I say no, that they never will pay 250 billion.Nope

[STEED]

Originally Posted by Jimbuna

I'd change my media sources if I were you.

Sky or BBC business news jim. I have read it on some news sites Greece is looking good, I know they are clearly telling porkies or only part of the truth.

[Jimbuna]

The BBC whilst still being better than most IMHO have nonetheless gone downhill somewhat in recent years.

[Skybird]

Paper is patient. Both money and media reports.

Mainstrema media obey the wanted mainstream views propagated by our pillars of society, or beloved great leaders and know-it-alls, of Keynesian money messiahs. That they say that on yearly average the room temperature is comfortable while the house currently on this day today is ablaze, is no wonder.

It only needs some basic reason and sense of realism. Where should any wealth generation in Greece come from? The talents in their youth generations have migrated. They never were a heavily industrialised state anyway. Their administrating is inefficient. their political caste is still as corrupt as ever. They have no competitive economy and no natural ressources which to sell they could live off. Since decades they lived of tourism only - and the payments NATO partners agreed in various forms due to their geostrategic location on the map. But that is no longer valid after the cold war. They are still linked to a currency system that does not allow them adaptation by individual currency exchange rates.

There can be no lasting bettering on ground of such a shaky "fundament". From nothing comes nothing, expect maybe in cosmology.

I already mentally prepare for the fourth and fift rescue programs. Give it a little time, just a few years, it will come. Promised.

Buying Greek bonds is no investment, its pure gamble and hoping to get away with a profit before the show once again collapses. Gambling and strategy are two very different things. If you can afford it, can live with possible severe losses, like the excitement, buy. If you indeed want to invest, scratch Greece off your list of reasonable options. Its a money annihilation machine.