Greece Elections

M1k3H · 12 Jul 2015 at 01:10

Yes but the current government put a stop to most privatization bids

dowie · 12 Jul 2015 at 01:11

the current govt just submitted a bunch of proposals to its creditors....

M1k3H · 12 Jul 2015 at 01:13

the same bunch of proposals that were gonna release 7.2bn whereas now they ask for 50bn+ plus debt "restructuring"...

plus do these proposals include privatization of public owned companies? unsure about this

dowie · 12 Jul 2015 at 01:44

they include privatising ports and selling of shares in a telecoms company

thus the creditors might want some reassurances, such as ring fencing those assets

MrMoonX · 12 Jul 2015 at 07:50

Uther said:
I dare say it will be the little people that pay the price as usual.

This! But some ocuk members here think the Greece situation is a good old laugh :rolleyes:

Danthus · 12 Jul 2015 at 08:47

Flogging the family silver so to speak in order to receive a bailout.

It sounds like a bigger version of Cash Converters.

Cosimo · 12 Jul 2015 at 08:49

I suspect that this negotiation now hangs in balance because of trust. I can see why some eurozone members are very wary as we really don't know whether the Greek government can ever be trusted to honour any agreement as it's a case of throwing good money after bad. Pushing them over the brink might not be such a bad idea after all.

M1k3H · 12 Jul 2015 at 09:15

In my personal opinion, unless there's significant debt restructuring, Greece should walk away and start again.

They have nothing to lose short term (situation in already dire anyway)
and they have everything to gain long term, if they fight for it.

Outcast · 12 Jul 2015 at 09:20

I've got a feeling the 4th Reich will delay an answer and Greece will go to the dogs whilst they banter !

Dolph · 12 Jul 2015 at 09:25

M1k3H said:
In my personal opinion, unless there's significant debt restructuring, Greece should walk away and start again.

They have nothing to lose short term (situation in already dire anyway)
and they have everything to gain long term, if they fight for it.

So unless the EU break their treaties for Greece, Greece should walk?

If the only way you can stay in a club is for the club to break its own rules, you don't deserve to be a member...

M1k3H · 12 Jul 2015 at 09:31

Dolph said:
So unless the EU break their treaties for Greece, Greece should walk?

If the only way you can stay in a club is for the club to break its own rules, you don't deserve to be a member...

Well then, surely Germany should be kicked out? They've been running a surplus of over the 4% maximum the EU set out since before the recession.

I'm with you on this one, let's follow the rules! No exceptions!

Dolph · 12 Jul 2015 at 09:32

M1k3H said:
Well then, surely Germany should be kicked out? They've been running a surplus of over the 4% maximum the EU set out since before the recession.

I'm with you on this one, let's follow the rules! No exceptions!

Works for me, the eurozone is a classic example of economic reality over political wishful thinking.

M1k3H · 12 Jul 2015 at 09:34

Dolph said:
Works for me, the eurozone is a classic example of economic reality over political wishful thinking.

I've never been a fan of the Eurozone. Ever since I started reading on the subject I've always thought that it would either evolve into a proper union (See US) or break up.

Now it looks more likely that the second scenario will occur, before the first.

scorza · 12 Jul 2015 at 09:39

M1k3H said:
Well then, surely Germany should be kicked out? They've been running a surplus of over the 4% maximum the EU set out since before the recession.

I'm with you on this one, let's follow the rules! No exceptions!

Are you sure about that? Data here would indicate otherwise; http://data.worldbank.org/indicator/GC.BAL.CASH.GD.ZS/countries

Destination · 12 Jul 2015 at 09:43

Summit Cancelled

Would seem the smaller nations have totally had enough of Greece.
OOps.

M1k3H · 12 Jul 2015 at 09:45

scorza said:
Are you sure about that? Data here would indicate otherwise; http://data.worldbank.org/indicator/GC.BAL.CASH.GD.ZS/countries

Current Account (from trading).

See http://www.tradingeconomics.com/germany/current-account-to-gdp

Or http://data.worldbank.org/indicator/BN.CAB.XOKA.GD.ZS

Jono8 · 12 Jul 2015 at 10:07

Hikari Kisugi said:
Summit Cancelled

Would seem the smaller nations have totally had enough of Greece.
OOps.

Only Germany have the power to veto it. The smaller countries have little influence in a vote.

Destination · 12 Jul 2015 at 10:11

Jono8 said:
Only Germany have the power to veto it. The smaller countries have little influence in a vote.

That might be true, but if 19 others are disgruntled and grossly unhappy, then I think Germany look around and go 'f it' lets just let Greece go and call it a night.

Jono8 · 12 Jul 2015 at 10:15

Hikari Kisugi said:
That might be true, but if 19 others are disgruntled and grossly unhappy, then I think Germany look around and go 'f it' lets just let Greece go and call it a night.

But equally the other biggest countries in the Eurozone (Italy and France) and who together hold a larger percentage of the votes than Germany will be hugely angry at Germany if they veto a deal.

Seems like a very tricky situation. I think Germany wants Greece gone, but they know this could have dire consequences for their relationship with France and Italy and could end up rupturing the eurozone altogether.

thep02 · 12 Jul 2015 at 10:34

M1k3H said:
I can never see Greece accepting to sell off assets...

Those assets couldn't possibly be the oil/gas in the Aegean Sea now could it?

What you mean the vast fields discovered just before the Greek economy was pushed over the edge by the very people who have the cash to buy those assets at a knockdown price?