I predict a Riot

MrMoonX said:
I will be fair its not all about bankers, its all about the broken system of capitalism and the banking systems
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I thought banks paid risk assessors to make sure they lent money to the right people, I wouldn't be very happy if someone lent my money to the first person that asked for it.
 
The protests aren't about people who want more money from the government, they just want the government to default on its debts, which it should absolutely do.

Then they can ditch the Euro and start getting things back on track.
 
Strife212 said:
The protests aren't about people who want more money from the government, they just want the government to default on its debts, which it should absolutely do.

Then they can ditch the Euro and start getting things back on track.
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If the people want that, then they really are idiots incapable of understanding simple concepts.

Even if Greece defaults on all it's debts and interest payments, it is still running a budget deficit, it will still have to cut substantially more to balance the budget than the cuts required for the bailout, especially given that they will be unable to borrow more.

This is relevant even with control of their own currency, because Greece is also incapable of being self-sufficient in goods and services, and will need to buy from the market in whatever currency the market requests.
 
its a lot about the (lazy) Greek culture, and the huge tax evasion (? the illegal one) that goes on in the country, as well as the fact they all expect to retire when they hit 50... and now they expect hard working Germans to bail them out..
 
Fools, they have had it easy for the last 20 years and now they will pay the price for the next 20 years. They are getting a haircut of 50 to 70% on the debt what more do they want?
 
Brookert said:
Why do they think they can have everything for nothing. If people dodge tax, who pays to run their country?

Its absolutely bonkers!
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do you really think the latest 145bn will be used for anything other than paying back 145bn they borrowed earlier, now that's bonkers.

you should consider who is going to ultimately be on the hook for all this money, the debt is not being paid, just refinanced to a different lender.

That lender is the European states that are actually able to borrow for the time being.

At the moment there is not enough economic growth to cover the rising costs. So in the end everyone drowns in debt.
 
scorza said:
If I go down to my local council estate with wads of cash shouting "cheap loans for everyone". Whose fault is it when the people get into horrendous debt and can't pay the money back? Why shouldn't I pay for my irresponsible lending?
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Well i guess comparing the Greeks to local ****** isn't too unreasonable - point is Greece can opt to not pay its debts - it will be thrown out of the euro and its economy will be trashed for a period of time - though arguable going back to its own currency could help it get out of the mess its in.

Applying your example to the current situation - the Greeks/***** scumbag neighbours you or your friends lent to now want to borrow more from you - you want to help your neighbours but you're now aware that they might have trouble paying you back and previously lied to you about thier financial situation when they initially borrowed from you. You now only want to lend more to them if they make significant cutbacks in their spending on scratch cards, beer, fags, lottery tickets, cancel their sky sports description and sell the massive flat screen TV they bought - obviously they don't want to make any cutbacks or change their unsustainable lifestyle so are a bit upset at the prospect but realise they won't get more money out of you if they don't.
 
singularity said:
do you really think the latest 145bn will be used for anything other than paying back 145bn they borrowed earlier, now that's bonkers.

you should consider who is going to ultimately be on the hook for all this money, the debt is not being paid, just refinanced to a different lender.

That lender is the European states that are actually able to borrow for the time being.

At the moment there is not enough economic growth to cover the rising costs. So in the end everyone drowns in debt.
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??????

My point still stands. Widespread tax dodging does not help. The public creating riots and damaging property is possibly the most ridiculous response to the fact that the country is broke.
 
Brookert said:
??????

My point still stands. Widespread tax dodging does not help. The public creating riots and damaging property is possibly the most ridiculous response to the fact that the country is broke.
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I guess I wasn't actually disagreeing with your point even though I may actually disagree with it which I don't.

I'm just saying that they shouldn't be given the money unless it is to be used for something that will actually grow the economy in a sustainable way. That doesn't exclude actually paying a Greek person to do a useful job.
 
fanny said:
yeah, I see Starbucks has taken a turn for the worse
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Doesn't look like many Mochas will be served in there any time soon. :o

star.jpg
 
It's ok to say that they should just accept this bailout package and the EU measures, but it's literally turning them into a puppet state. We would never accept the same thing in this country.
 
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