Life and Debt: A Greek Tragedy (merged)

[Catfish]

Originally Posted by Oberon

Explain Bielefeld then.

There is no need to spell Bielefeld, it does not exist. Just a cold war ruse.

http://bv.bytos.de/
http://www.stupidedia.org/stupi/Bielefeld

[Catfish]

Originally Posted by Oberon

Unusual step for Varoufakis to take, I suspect that he was given the push because of his comments on Europe. [...]

You mean Varoufakis was a errrmm pawn offer? peasant? farmer?

[Oberon]

Originally Posted by Catfish

You mean Varoufakis was a errrmm pawn offer? peasant? farmer?

Well, he did look like he could have walked out of an episode of 24.



I must admit, part of me will miss a politician who arrives at finance meetings driving his own motorcycle and wearing jeans and a leather jacket rather than the traditional smart suit.

[STEED]

Originally Posted by Neal Stevens

One of these days it will be us

http://www.usdebtclock.org/

I'm not too well up on America but from the news I see America keeps raising the debt ceiling by another trillion every year if you keep doing that wouldn't that mean a bigger fall? Seems America has no answer to the debt problem. Of course here in the UK they are so focus on trying to get the government deficit down the last government added to the national debt!

As for Greece their no vote shows they will not be dictated too for how long only time will show us that. The EU will probably not allow them to leave with out a fight because that would show weakness and could open the door for Spain Italy Portugal and Ireland and maybe even the UK.

[Catfish]

With the international money system there will never be a balanced national budget, no country is ever able to pay back its debts.

As soon as you allow interest, the downfall is inevitable. All you can do is delaying, delaying, delaying, and then have a war and/or a monetary reform.

This is not very new, b.t.w.

[Jimbuna]

Originally Posted by STEED

and maybe even the UK.

YES PLEASE!!

[ikalugin]

Originally Posted by Catfish

With the international money system there will never be a balanced national budget, no country is ever able to pay back its debts.

As soon as you allow interest, the downfall is inevitable. All you can do is delaying, delaying, delaying, and then have a war and/or a monetary reform.

This is not very new, b.t.w.

We have payed back our debts.

[Sailor Steve]

Really? What's this then?
http://www.nationaldebtclocks.org/debtclock/russia

Yours is a lot better than ours, but it's still there.
http://www.tradingeconomics.com/russ...nt-debt-to-gdp

[mapuc]

What is there to believe ?

Are Greece on its way out of Euro and perhaps EU ? And thereby into economical collapse

Or will EU do anything to keep Greece "occupied" inside the Euro and EU ?


Markus

[Oberon]

Originally Posted by mapuc

What is there to believe ?

Are Greece on its way out of Euro and perhaps EU ? And thereby into economical collapse

Or will EU do anything to keep Greece "occupied" inside the Euro and EU ?


Markus

Yes

[Torplexed]

Originally Posted by mapuc

What is there to believe ?

Are Greece on its way out of Euro and perhaps EU ? And thereby into economical collapse

Or will EU do anything to keep Greece "occupied" inside the Euro and EU ?


Markus

If you are hearing a lot of “coulds” and “mights” lately, it’s because after the people’s “No” vote, Greece is sailing into some seriously uncharted waters. What is certain is that there is much more ambiguity to come, since there isn't much historical precedent to go by.

To make matters worse, events will take an even more dramatic turn on July 20th, when Athens is due to pay the ECB 3.5 billion euros. If Greece misses that payment, the central bank will probably conclude that the state is bust and, because of the way the country’s banks are connected to the government, that they are insolvent too. That could mean that even tourists couldn't withdraw money from banks, killing tourism, and there goes the last frail, creaking prop holding what is left of the Greek economy up.

[Oberon]

Originally Posted by Torplexed

If you are hearing a lot of “coulds” and “mights” lately, it’s because after the people’s “No” vote, Greece is sailing into some seriously uncharted waters. What is certain is that there is much more ambiguity to come, since there isn't much historical precedent to go by.

To make matters worse, events will take an even more dramatic turn on July 20th, when Athens is due to pay the ECB 3.5 billion euros. If Greece misses that payment, the central bank will probably conclude that the state is bust and, because of the way the country’s banks are connected to the government, that they are insolvent too. That could mean that even tourists couldn't withdraw money from banks, killing tourism, and there goes the last frail, creaking prop holding what is left of the Greek economy up.

You put it better than I possibly could. No-one can be sure what's going to happen next, guesses can be made, assumptions drawn, but honestly no-one can be sure.
The UK has its budget report on Wednesday, which is going to be...difficult for large swathes of the country. Certainly not Greece level difficult, but the same complaint could be made of the process. Attack the poor and defend the rich, because the rich can move countries whereas the poor are stuck, ready to be milked whenever demanded.

[ikalugin]

If RN gets cut I would shed some tears.

[Eisenwurst]

The world collectively owes a huge debt ( not monetary ) to the Greek peoples. Throughout history the Greeks have been at the forefront of innovation, laying the foundations of civilisation :- the alphabet (adapted from the Phoenicians I know, but revised with modern letters and read from left to right). Democracy, education, some brilliant minds:- Euclid, Archimedes, Pythagoras and quite a few others.

Who knows they might surprise everyone and pull off a miracle. What they need now is a focus. This is just the ramblings of an armchair politician, but would the Greek Royal Family being re-established ( self supporting of course ) be a good idea do you think? From what I could find out they were deposed after a dodgey vote.

I'm sure they're deeply patriotic and all the European Royal families are closely related. There could be a good network of pro greek influence there
with their respective governments.

I've heard of some small positive developments amongst the greek populace already, doctors and dentists offering their service for free.

The U.N. should get off it's backside and actively assist Greece.

I know there's possible ramifications if Greece is treated specially, other countries jumping up and down and going "me too, me too".

I know I'm an old bastard with possibly naïve ideas and the world is now a selfish negative place, but I honestly hope the world community comes together on this one. To not do anything and confine any possible "solutions" in terms of economic rational is so amoral.

We're all brothers after all.

Warning some colourful language in the videoclip, nothing too bad though.

[Jimbuna]

Originally Posted by Torplexed

If you are hearing a lot of “coulds” and “mights” lately, it’s because after the people’s “No” vote, Greece is sailing into some seriously uncharted waters. What is certain is that there is much more ambiguity to come, since there isn't much historical precedent to go by.

To make matters worse, events will take an even more dramatic turn on July 20th, when Athens is due to pay the ECB 3.5 billion euros. If Greece misses that payment, the central bank will probably conclude that the state is bust and, because of the way the country’s banks are connected to the government, that they are insolvent too. That could mean that even tourists couldn't withdraw money from banks, killing tourism, and there goes the last frail, creaking prop holding what is left of the Greek economy up.

Pretty much sums it up for me but on the tourist subject, that is the one vital strand that will always be there, provided weather patterns don't change and there is obviously no chance of that.

Tourists will resort to cash (that has always been the best option in Turkey for example) and whilst some might say they would be taking advantage I think the opposite....the Greeks will be eager for foreign currency to shore up the Drachma (should they decide to drop the Euro.

As I've previously said on numerous occasions, it is the Greek population my sympathies are with and not those who lead them and govern on their behalf.