Greece Elections

I was unaware that Ireland had actually be repaying part of its debts, and paid back a considerable proportion of their IMF monies early. No quite certain on the reasoning, might have been at a worse % than their bailout package.

Currently around 107% of GDP in debt, but with a surplus in their budget for the past two years. I suppose another ten similar years and they might end up at the 60% debt to GDP target they are aspiring to achieve. Ten years is a long time to try to maintain such.
 
Nate--IRL-- said:
Apologies, you are correct, the bailout actually expires on Wed night. after that Greece is holed below the waterline. No Deal will repair the damage after that point.

Nate
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The banks are on lock down for the rest of the week to prevent meltdown. Greece will default this week, but it will still be salvageable by Sunday.

It dose look like it's the end for Greece though if they vote No. However, I think they will vote Yes and this whole sorry saga will bounce along for few years to come. A yes vote will be the end of the current government and there will be fresh elections, which will take time to sort out, which will probably mean the resumption of emergency assistance, and we're back to square one.
 
Stretch said:
However, I think they will vote Yes and this whole sorry saga will bounce along for few years to come. A yes vote will be the end of the current government and there will be fresh elections, which will take time to sort out, which will probably mean the resumption of emergency assistance, and we're back to square one.
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This is likely what will happen.
 
Hikari Kisugi said:
I was unaware that Ireland had actually be repaying part of its debts, and paid back a considerable proportion of their IMF monies early. No quite certain on the reasoning, might have been at a worse % than their bailout package.

Currently around 107% of GDP in debt, but with a surplus in their budget for the past two years. I suppose another ten similar years and they might end up at the 60% debt to GDP target they are aspiring to achieve. Ten years is a long time to try to maintain such.
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And there would be nothing left in the country to make money. They need to stop this ridiculous austerity so their economy can actually start to grow again and lower their debt to GDP that way.
 
Monkeynut said:
What political persuasion are you in Greece? Just wondering from a sort of feet on the ground perspective.
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liberal, small state and taxation, encourage private sector and ruthless treatment of tax evaders and corruption.
Currently no party suits my political taste, but i have a feeling the next days, one way or another, the needs of this country will create the need for such a party.

Dont confuse me with neo-liberals, ponzi scheme financial markets, casino like stock market with no regulation whatsoever
 
Nate--IRL-- said:
Apologies, you are correct, the bailout actually expires on Wed night. after that Greece is holed below the waterline. No Deal will repair the damage after that point.

Nate
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Doesn't matter. If the people of Greece vote yes, the Greek government will have no choice but to do a deal with the EU along the lines of what has been offered and the EU will jump at the chance.
 
thing is they can vote YES, get a new agreement.... and then elect a new govt that will start trying to shift the goalposts again
 
Iraklis F.C. said:
The PM said tonight that if the result is a YES, he will resign. What a muppet, i dont see a future in him...
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a political merry go round. ::o

I tend ti think Greece will vote no if the government puts its weight behind it. however I'm not even sure what they are voting for as there is no agreement with the creditors and tomorrow is payday to the IMF.
 
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