Greece Elections

They have some significant issues at heart. Corruption is rampant especially in the tax assessment and collection side of things. Retirement policy that is crazy financially, but fantastic from a quality of life point of view, which tbh is what we all want instead of Banks and the select few getting very rich and enjoying retirement
 
I think Greece will vote no on Saturday and after a series of protracted negotiations, Greece will default and exit the Eurozone. I don't think they will exit the EU, but I think the Germans will take the hit rather than give more ground to Greece.

Greece needs to make fundamental reforms regardless if they default or not though, it's simply not sustainable as it is in any form.
 
Si_Gregory said:
Can anyone break down the Greece predicament into a small summary for me?
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  • Greece: Lol, we're bankrupt, anyone got any spare money?
  • EU/IMF: Okay we will loan you some, but you have to get your spending under control and actually collect some tax, that way you can pay us back this millenia, okay?
  • Greece: Yeah okay no problem, thanks guys :)
  • EU/IMF: Don't mention it.
  • Greece: Lol, people didn't like the cuts/taxes so we have a new government that will stand up to your tyranny!
  • EU/IMF: :confused:
  • Greece: We have decided you're all being mean, and should give us more money, and an extension on our loans, oh and Germany didn't pay us enough in WW2 reparations so we want a few billion from them k?
  • EU/IMF: :eek:
  • Germany: :mad:
  • Greece: Why are you guys being so mean to us, you won't give in to any of our demands, fine we're going to have a referendum on if we should pay you at all!
  • EU/IMF: So you're going to default and basically steal billions from your biggest trading/economic partners, where almost all your tourism comes from, after which you will still have no money, and want to loan more?
  • Greece: Lol, as long as we has referendum nobody can blame government, trololol.
 
ubersonic said:
  • Greece: Lol, we're bankrupt, anyone got any spare money?
  • EU/IMF: Okay we will loan you some, but you have to get your spending under control and actually collect some tax, that way you can pay us back this millenia, okay?
  • Greece: Yeah okay no problem, thanks guys :)
  • EU/IMF: Don't mention it.
  • Greece: Lol, people didn't like the cuts/taxes so we have a new government that will stand up to your tyranny!
  • EU/IMF: :confused:
  • Greece: We have decided you're all being mean, and should give us more money, and an extension on our loans, oh and Germany didn't pay us enough in WW2 reparations so we want a few billion from them k?
  • EU/IMF: :eek:
  • Germany: :mad:
  • Greece: Why are you guys being so mean to us, you won't give in to any of our demands, fine we're going to have a referendum on if we should pay you at all!
  • EU/IMF: So you're going to default and basically steal billions from your biggest trading/economic partners, where almost all your tourism comes from, after which you will still have no money, and want to loan more?
  • Greece: Lol, as long as we has referendum nobody can blame government, trololol.
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Haha! Thanks for the breakdown, most amusing. That's pretty messed up. I was following the basic thread of what was happening but when you word it that way it makes Greece look terrible. That's a real POS move from them.
 
you can add in a bit at the start where they lied about their financial position initially then confessed that they had some serious problems

they even lied to get into the euro in the first place, with some help from Goldman Sachs to cook the books....
 
22:00 GMT is the deadline for Greece. Apparently there's all sort of frantic negotiating going between Athens and Brussals on to avoid doom.

Take a look a this. UK banks are owed 10Bn by Greece anyone want to take a bet that a large chunk of that belongs to those plonkers at RBS?
 
Just my opinion, but from what I've gathered from this rather sorry situation, is that Syriza got themselves elected on a platform of promises they could never realistically hope to deliver on, and now that it's all coming unravelled for them, they're looking for a way out and to handover the shambles that is the state of the Greek government to some other poor buggers to sort out.
 
ubersonic said:
  • Greece: Lol, we're bankrupt, anyone got any spare money?
  • EU/IMF: Okay we will loan you some, but you have to get your spending under control and actually collect some tax, that way you can pay us back this millenia, okay?
  • Greece: Yeah okay no problem, thanks guys :)
  • EU/IMF: Don't mention it.
  • Greece: Lol, people didn't like the cuts/taxes so we have a new government that will stand up to your tyranny!
  • EU/IMF: :confused:
  • Greece: We have decided you're all being mean, and should give us more money, and an extension on our loans, oh and Germany didn't pay us enough in WW2 reparations so we want a few billion from them k?
  • EU/IMF: :eek:
  • Germany: :mad:
  • Greece: Why are you guys being so mean to us, you won't give in to any of our demands, fine we're going to have a referendum on if we should pay you at all!
  • EU/IMF: So you're going to default and basically steal billions from your biggest trading/economic partners, where almost all your tourism comes from, after which you will still have no money, and want to loan more?
  • Greece: Lol, as long as we has referendum nobody can blame government, trololol.
Click to expand...

I love that - well done! :D
 
Freddie1980 said:
22:00 GMT is the deadline for Greece. Apparently there's all sort of frantic negotiating going between Athens and Brussals on to avoid doom.

Take a look a this. UK banks are owed 10Bn by Greece anyone want to take a bet that a large chunk of that belongs to those plonkers at RBS?
Click to expand...

Presumably the inevitable PPI payout will allow Greece to furnish some of its debt then?
 
5592957f6315e.jpeg
 
ubersonic said:
Correction, austerity was working but electing a bunch of incompetent posers who promised the moon on a stick made the problem worse.
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How, exactly, was austerity "working"?

The Greek economy has shrunk hugely in size and it's debt-to-GDP ratio has grown. Its national assets have been sold off at bargain basement prices and its healthcare system has collapsed to the point that people are dying from lack of drugs. Incomes have been slashed and pensions cut. Unemployment has soared to levels higher than those of the US during the Great Depression and youth unemployment has hit 60%.

How, exactly, is this austerity "working"? What does austerity not working look like if you're chalking this up as austerity "working"?
 
Scotty123 said:
5592957f6315e.jpeg
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This cartoon would be more accurate if Greece handed the cup over to German banks who slurped the money and then handed it back. The "bailout" wasn't constructed to help Greece it was constructed to protect French and German banks.
 
Burnsy2023 said:
I think Greece will vote no on Saturday and after a series of protracted negotiations, Greece will default and exit the Eurozone. I don't think they will exit the EU, but I think the Germans will take the hit rather than give more ground to Greece.

Greece needs to make fundamental reforms regardless if they default or not though, it's simply not sustainable as it is in any form.
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A agree with this, but I'm not sure it will happen so rapidly. Greece has too much to lose, and will continue to play games for as long as they can get away with it.

In the end, the creditors are being presented with two options by Greece.

Right off the money, we stay in the Euro Zone and act as a bad example to all others.

Or we default and you still don't get the money.

Hmm, let me think????

Mr Jack said:
That's interesting, actually, so it'll be the UK that actually faces the biggest real hit from a Greek default.
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I'm not sure you're looking at the same graph?

Mr Jack said:
This cartoon would be more accurate if Greece handed the cup over to German banks who slurped the money and then handed it back. The "bailout" wasn't constructed to help Greece it was constructed to protect French and German banks.
Click to expand...

The bailout was intended to keep Greece afloat long enough to implement meaningful reforms... which they haven't done. Hence we are where we are.
 
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Mr Jack said:
That's interesting, actually, so it'll be the UK that actually faces the biggest real hit from a Greek default.
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Christ, our own politicians makes us look like complete and utter mugs, at least i can hold my head up as i and 4m others voted UKIP and not these bunch of degenerate cretins
 
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