Greece Elections

dowie · 9 Jul 2015 at 14:58

tis perfectly possible that the Greek govt accepts a new deal, even worse than the one they've already rejected(and the Greek people have rejected) simply because they realise that European leaders aren't going to budge, time is running out and they don't want the uncertainty of a euro exit

it will of course leave them looking rather silly and perhaps their population might question what that whole farce of a referendum was about anyway

glenimp617 · 9 Jul 2015 at 15:04

I hear the new deadline is now this sunday lol

what did I say last week, and the week before.....another week, another deadline

dowie · 9 Jul 2015 at 15:05

this one is more like an actual deadline, they actually need to agree to something by this weekend or they're heading for some turbulent times

thenewoc · 9 Jul 2015 at 15:16

dowie said:
tis perfectly possible that the Greek govt accepts a new deal, even worse than the one they've already rejected(and the Greek people have rejected) simply because they realise that European leaders aren't going to budge, time is running out and they don't want the uncertainty of a euro exit

it will of course leave them looking rather silly and perhaps their population might question what that whole farce of a referendum was about anyway

Yeah what a fiasco, would never think being in politics is what these people do. I'm half prepared for it ending with another load of indecision and another summit same place same time next week.

Beggars belief that Athens didn't already have a proposal similar to the previous one ready to put forward.

thenewoc · 9 Jul 2015 at 15:18

So apparently Brussels is buckling to debt relief now according to the Telegraph.

http://www.telegraph.co.uk/finance/...after-Draghi-says-Grexit-hard-to-prevent.html

V F · 9 Jul 2015 at 15:21

glen8 said:
I hear the new deadline is now this sunday lol

what did I say last week, and the week before…..another week, another deadline

It always was this Sunday. It must be submitted tonight to be discussed and approved for Sunday. If nothing appears tonight it throws out Sunday.

dowie · 9 Jul 2015 at 15:24

debt relief has been a potential as long as they implement structural reforms, I don't think the Germans would be happy to give anything away right now though:

"In 2012 we dealt with the issue of debt sustainability. We stretched out the maturities, we pushed back the repayment requirement for EFSF loans out to 2020. So we are not dealing with debt sustainability for the first time," Merkel said when asked about differences with the International Monetary Fund (IMF) over a debt writedown for Greece.
"I have said that a classic haircut is out of the question for me and that hasn't changed between yesterday and today."

they're acutely aware that if they give in the Greece then there are a few other countries that will want some debt relief too - reality is some of these placers need a kick up the ass to make some serious changes first

thenewoc · 9 Jul 2015 at 15:30

So according to the Guardian, Greek media are now reporting that the latest austerity package is now around 12 billion euros opposed to the 8 to 9 billion euros that the referendum was called over. What a farce, this is what makes me wonder how much longer Tsipras has in power.

http://www.theguardian.com/business...as-draghi-live#block-559e2a6be4b0b0df6a114657

thenewoc · 9 Jul 2015 at 15:32

dowie said:
debt relief has been a potential as long as they implement structural reforms, I don't think the Germans would be happy to give anything away right now though:

they're acutely aware that if they give in the Greece then there are a few other countries that will want some debt relief too - reality is some of these placers need a kick up the ass to make some serious changes first

The next issue will be whether they have the coffers to pay the ECB 3.5 billion later this month.

Freddie1980 · 9 Jul 2015 at 15:46

thenewoc said:
So according to the Guardian, Greek media are now reporting that the latest austerity package is now around 12 billion euros opposed to the 8 to 9 billion euros that the referendum was called over. What a farce, this is what makes me wonder how much longer Tsipras has in power.

http://www.theguardian.com/business...as-draghi-live#block-559e2a6be4b0b0df6a114657

So the Greeks say no to a 9bn austerity package by way of a vote and now the Greek PM is talking about implementing a 12Bn package instead or is this coming from the EU?

thenewoc said:
The next issue will be whether they have the coffers to pay the ECB 3.5 billion later this month.

Not on it's own it couldn't even pay the IMF Greece needs it's creditors to release the last lot of the bailout funds in order to meet it's obligations.

thenewoc · 9 Jul 2015 at 15:52

Freddie1980 said:
So the Greeks say no to a 9bn austerity package by way of a vote and now the Greek PM is talking about implementing a 12Bn package instead or is this coming from the EU?

Not on it's own it couldn't even pay the IMF Greece needs it's creditors to release the last lot of the bailout funds in order to meet it's obligations.

I'm assuming it's what's coming out of Athens as they haven't yet presented their new reform package to the summit yet AFAIK.

Freddie1980 · 9 Jul 2015 at 16:01

thenewoc said:
I'm assuming it's what's coming out of Athens as they haven't yet presented their new reform package to the summit yet AFAIK.

If Tripras is serious about following through on a 12Bn austerity package then Greece will have it's own version of the Euromaidan protests! I guess if the EU has moved on debt relief the Greeks are obliged to move on pension reforms, these issues seems to be the big stumbling blocks from prior talks which if they have managed to over some might mean there's a deal in place by Sunday.

dowie · 9 Jul 2015 at 21:21

http://www.bbc.co.uk/news/live/world-europe-33459366

Greek media is reporting that the government has sent the reforms proposal to the EU, ahead of tonight's deadline. The proposals concede to almost all the creditors' terms, reports say. We'll let you know as soon as we have more details.

clowns, so they reject a deal, play silly games in negotiations, put on some pointless referendum that also says 'no'... then they end up putting forth proposals agreeing to the EU's terms...

sad thing is it is probably too late and they're going to have to swallow a much tougher pill

Tosno · 9 Jul 2015 at 21:28

It's all a circus

Outcast · 9 Jul 2015 at 21:29

My local Greek Restaurant is so authentic, it too has gone bankrupt!

(have I posted this already ?)

Jono8 · 9 Jul 2015 at 21:35

dowie said:
http://www.bbc.co.uk/news/live/world-europe-33459366

clowns, so they reject a deal, play silly games in negotiations, put on some pointless referendum that also says 'no'... then they end up putting forth proposals agreeing to the EU's terms...

sad thing is it is probably too late and they're going to have to swallow a much tougher pill

It will be in place of re-profiling the debt though which is something that the Greeks desperately need

Danny091 · 9 Jul 2015 at 23:27

So Greece has submitted the proposals now you can read them here http://www.naftemporiki.gr/finance/story/976680/the-greek-reform-proposals

It seems that its WORSE than what they declined in the beginning and called a referendum. Now it has to go to EU and hopefully get approved.. Although it still might not.

Also seems they have caved on everything. They are changing, Taxes, corp tax, island tax, hotel tax, pensions all of it |:

Also this is happening

The communist party has called on supporters to attend a mass rally in Omonia Square at 7pm (5pm BST) on Friday to protest “the barbaric memorandum.”

“Fight now to cancel the plans to pauperise the people,” it declared in a statement released in the last five minutes.

“Let’s say NO to the barbaric memorandum.”

Time to dig out the OXI signs again? and if the above is true it might not even get through Greek parliament?

Destination · 9 Jul 2015 at 23:29

Outcast said:
My local Greek Restaurant is so authentic, it too has gone bankrupt!

(have I posted this already ?)

Did they receive the tax bill they should have paid for the past thirty years

Jono8 · 9 Jul 2015 at 23:57

Danny091 said:
So Greece has submitted the proposals now you can read them here http://www.naftemporiki.gr/finance/story/976680/the-greek-reform-proposals

It seems that its WORSE than what they declined in the beginning and called a referendum. Now it has to go to EU and hopefully get approved.. Although it still might not.

Also seems they have caved on everything. They are changing, Taxes, corp tax, island tax, hotel tax, pensions all of it |:

Also this is happening

Time to dig out the OXI signs again? and if the above is true it might not even get through Greek parliament?

This will be in exchange for dent relief though.

The greeks will be far poorer if they exit the euro and go bankrupt as well.

Danny091 · 10 Jul 2015 at 00:14

No mention of debt relief though and many countries e.g. Lithuania have said that would not happen