Greece Elections

Jokester said:
Got the suspicion that the rest of the EU want Greece to leave the Euro, but don't want to be seen giving them option, that Greece themselves need to make that decision. It was doubtful they were going to go through anyway, but I think this'll just kill any chance of a deal.
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I think some EU countries want to appear not to give Greece an easy ride.

Greece is clearly incapable of repaying its debts. Even the hardest of Eurozone hard-liners must be fully aware they are giving more money to Greece without a hope of ever getting it back.

The whole system is broken. Unless they get serious about fundamental Eurozone wide reforms, crisis such as these will be a permanent feature.

Reform is going to be universally unpopular. I will include EU wide redistribution of wealth, and it will include a wholesale loss of economic sovereignty. Members will be unable to set tax rates, borrow money or control their own welfare budgets.

This issue with reform is the democratic structure don't exist to make it work.
 
Stretch said:
I think some EU countries want to appear not to give Greece an easy ride.

Greece is clearly incapable of repaying its debts. Even the hardest of Eurozone hard-liners must be fully aware they are giving more money to Greece without a hope of ever getting it back.

The whole system is broken. Unless they get serious about fundamental Eurozone wide reforms, crisis such as these will be a permanent feature.

Reform is going to be universally unpopular. I will include EU wide redistribution of wealth, and it will include a wholesale loss of economic sovereignty. Members will be unable to set tax rates, borrow money or control their own welfare budgets.

This issue with reform is the democratic structure don't exist to make it work.
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this would only ever work if there was political union. YOu can't have a fiscal union if each of the partners has a different political agenda as this epic cluster**** has shown.

Greece are finished and will be ejected or walk away from the Eurozone and Germany will march on to Warsaw and Paris............. I mean continue running EU monetary policy as always..............
 
not surprising... I mean you essentially need all the countries to implement centre right economic policies.... or you need everyone to give up far more sovereignty - which is now likely an even more scary prospect for some

frankly not having control of your currency has been show to leave countries in very precarious positions, particularly where their debt has been badly managed already
 
Iraklis F.C. said:
rumor has it uncle sam is furious with Schauble, that is the german finmin..
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Only because Obama is worried about your glorious leader cossying up to Putin. otherwise Obama couldn't give a crap about the Greek's so stop kidding yourself bro................

Merkel will see Greece out of the Euro before taking any **** from that terrorist loving punk of a US president, you can bet your last Drachma on that one.
 
wildman said:
Only because Obama is worried about your glorious leader cossying up to Putin. otherwise Obama couldn't give a crap about the Greek's so stop kidding yourself bro................

Merkel will see Greece out of the Euro before taking any **** from that terrorist loving punk of a US president, you can bet your last Drachma on that one.
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wow take it easy dude, who said i am kidding my self, nor i trust the yankees or anybody in the universe, this crisis though have surfaced major issues in this "union". If it was me i wouldnt give a hoot about foreignn banks, i would have pulled an Iceland and hasta la vista eurozone :cool:
 
Greece should be suspended from the Euro for 5 years and only allowed to join again if they meet criteria.

Then they can set their own budget and if it works it works and if it doesn't they cannot rejoin until they do.

Seems fair to me.
 
Third Opinion said:
Greece should be suspended from the Euro for 5 years and only allowed to join again if they meet criteria.

Then they can set their own budget and if it works it works and if it doesn't they cannot rejoin until they do.

Seems fair to me.
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Would probably actually be best for Greece. Any country with its own currency (say, the UK) in a similar situation would just print more money. Which they can't do because they're reliant on the ECB. And we're starting to see that the Euro is unfairly favourable to German and French markets. Greek exit would be bad news for the rest of the Euro though, as it would go against the entire premise of the union. It isn't a privilege to be part of, it's a promise to investors of reliability and stability. And once members can come and go at the drop of a hat that illusion is broken forever.
 
Kicking off in Athens tonight - riot police shifting far left protestors outside parliament. Hopefully not the start of things to come :(
 
Danny091 said:
Protesters have thrown moltav cocktales at riot police and now they are using tear gas on the crowd \:

https://twitter.com/x/status/621382487969824771
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I said this would happen as soon as i saw the terms they agreed to. Doesnt take a genius to figure it out.

Greek people vote in a government who will stand up to europe and say no to austerity.

Greek people vote in a referendum to turn down the last proposals.

Current government then signs up to a new even worse deal.

Wouldnt you want to overthrow the people you voted in? And Greeks dont mind a riot when they are upset.

Unfortunately its all going to melt down. Either the Greek parliament wont vote it in tonight or Europe wont vote it in or if it does get voted in, then all hell will break loose in Greece, new elections, new government who then kicks out the last deal etc.
 
Greece needs austerity (i.e. balance the books) and have their own currency imo. Its no good accepting more debt which they will never be able to pay back without decent reforms.
 
Iraklis F.C. said:
wow take it easy dude, who said i am kidding my self, nor i trust the yankees or anybody in the universe, this crisis though have surfaced major issues in this "union". If it was me i wouldnt give a hoot about foreignn banks, i would have pulled an Iceland and hasta la vista eurozone :cool:
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Yeah the Icelandic government had not over borrowed for 30 years and lied about it, their banks went bankrupt, so they hung them out to dry, instead of taking on their banks debt.
Greece on the other had governmental debts and continues to rack them up. Good luck stopping that under a new currency, unless what is underneath is fixed, the value of current will plummet and plummet and continue to plummet until fixed.
 
This time next week Greece will be out of the eurozone and printing their own euros. Then there will be a two tier euro value and the euros with Greek codes will be worth less than the rest of Europe. Either that or the Euro will go into meltdown.
 
Greebo said:
This time next week Greece will be out of the eurozone and printing their own euros. Then there will be a two tier euro value and the euros with Greek codes will be worth less than the rest of Europe. Either that or the Euro will go into meltdown.
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doubtful

this time next week Merkel will be smashing Tsipros gary in with a strap-on while he sends his entire country to the poor house for the next 30 years............
 
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