I don't think they intended it to be a load of hot air, I think they were unbelievably naive like most of the Greek population that voted for them. They are skint, they need to be lent money. No one will lend them money until they sort their lives out so the lenders can have some confidence they will get their money back, so they have to tow the line.
Greece Elections
- Thread starter sityeuropa
- Start date
I don't think they intended it to be a load of hot air, I think they were unbelievably naive like most of the Greek population that voted for them. They are skint, they need to be lent money. No one will lend them money until they sort their lives out so the lenders can have some confidence they will get their money back, so they have to tow the line.
Soldato
- Joined
- 14 Feb 2004
- Posts
- 14,315
- Location
- Peoples Republic of Histonia, Cambridge
A mixture or riots and ever more extreme political solutions probably.
I actually think Syriza have no intention of a deal with the Euro Zone. They are pushing for the best exit deal they can get, and they will recreate Greece as a socialist state.
it is basically just a pledge to keep existing austerity measures in place - albeit they might make a few tweaks but they've got to get agreement nd don't have much room for maneuver
essentially not much is changing for 4 months, they're getting a bridging loan and they've got a bit of time to try and attempt to negotiate a new deal
Please, Tsipras is a used car saleman he sold a load of **** to the Greek people to get into power.
Soldato
- Joined
- 25 Sep 2009
- Posts
- 10,242
- Location
- Billericay, UK
So he's just like ever other politician? What made you think he would be any different? Becuase he's far left? He made no secret that he wanted his cake and wanted to eat it I.e keep the Euro and relax the austerity measures - why would anyone think that would work or he could get away with it?
The biggest disappointment for me is the new Greek PM thinks the staying in the Euro is more important then meeting his election promises. Surely he must know deep down that Greece is better of in the long run if its able to control its own currency?
Looking at it from here you can see it obviously won't work. I spend a lot of time in Madrid and the number of well educated people who are planning to vote Podemos to end the austerity in Spain is unbelievable. They don't want to think past "let's stop the Germans forcing us into poverty, get our pride back and get our country back to how it used to be" I expect it was exactly the same in Greece.
Looks like the new government is now openly admitting that they will go into default early next month.
http://www.bbc.co.uk/news/business-32864068
The suspicion is that the ECB won't relax their position for fear of opening the can of worms of Spain, Portugal and Ireland wanting improved deals as well if they are seen to do business with Greece.
Greece will exit the Euro as a result you have to think.
http://www.bbc.co.uk/news/business-32864068
The suspicion is that the ECB won't relax their position for fear of opening the can of worms of Spain, Portugal and Ireland wanting improved deals as well if they are seen to do business with Greece.
Greece will exit the Euro as a result you have to think.
Soldato
- Joined
- 3 Jun 2005
- Posts
- 5,365
- Location
- West Sussex
No doubt another bailout is on the way. Fair play to Greece they are playing the Germans bluff.
I doubt it, everything is pointing to the Greeks being hung out to dry to make sure none of the other PIGS get any ideas. Punting Greece out of the Euro will be less of a pain for the rest of the Eurozone compared with writing off another massive chunk of debt and it leading to the possibility of the other PIGS trying the same thing.
- Joined
- 9 Dec 2012
- Posts
- 1,457
Well 4% interest to the IMF they pay, the should just walk out of the Euro.
http://www.bbc.co.uk/news/world-europe-33009034
Well, I guess that pretty much is a default.
Is not having the money classed as "administrative difficulty"?
Well, I guess that pretty much is a default.
Is not having the money classed as "administrative difficulty"?
Soldato
- Joined
- 16 Nov 2003
- Posts
- 7,004
- Location
- Thessaloniki
sorry to rain on your parade, but you havent got the faintest idea on internal politics here. They will reach a deal and will call it a victory, media will brainwash the masses and there may be celebrations on the streets.
Ofcourse there were idiots who believed euros will actually grow on trees but the majority voted syriza because they have had enough of the same old ****. It was a desperate vote, in hope there might be something better in terms of management, well to cut long story short to get rid of the old faces who proved at least inadequate.
Soldato
- Joined
- 31 May 2009
- Posts
- 21,471
What they really need to get rid of is the tax avoidance and megapension wanton nature that the people are reported to have.
Getting rid of the old guard might go some way towards this, but when they cooked the books to get into the euro, and continued cooking after, its not a bit of wonder things are so bad for the young.
At least they still have freedom to travel. Leave the euro and they might themselves in trouble over that one.
Getting rid of the old guard might go some way towards this, but when they cooked the books to get into the euro, and continued cooking after, its not a bit of wonder things are so bad for the young.
At least they still have freedom to travel. Leave the euro and they might themselves in trouble over that one.