Greek Financial Crisis Thread

[Greed and Death]

Those conditions generally make financial sense though. Demanding that Greece further depress its economy is not only immoral but is also incredibly stupid. The austerity experiment has failed. Greece is worse off now than when it entered the bailout. An unconditional bailout is the only thing that should be expected.

Good on Tsipiras, for a while it seemed that he was going to be another wishy-washy lefty who was all talk but when push came to shove he would bend. This guy has balls and I'm glad that at least one world leader has decided to act in the best interest of the people.

Greece has been on the way to recovery before Syriza took over. Syriza has destroyed all progress greece made within a few months.

I agree Greece would have been better off with Golden Dawn than these syriza radicals.

[Zebulor]

A Grexit would be a disaster for Greece and harm all of Europe.

I don't think it would harm Europe as much as it would Greece. EU's pride would be harmed but nothing less.

If certain powerful institutions don't sabotage Greece after Grexit as a lesson to anyone else thinking of defying austerity or leaving the Euro, Grexit could benefit Greece in the medium and long term. I for one think they would have been better off not joining the Euro-zone in the first place.

[Greed and Death]

I don't think it would harm Europe as much as it would Greece. EU's pride would be harmed but nothing less.

If certain powerful institutions don't sabotage Greece after Grexit as a lesson to anyone else thinking of defying austerity or leaving the Euro, Grexit could benefit Greece in the medium and long term. I for one think they would have been better off not joining the Euro-zone in the first place.

Wont have to any sane individual investor will avoid lending Greece money, never mind the institutional investors.

[DBJ]

Greece has been on the way to recovery before Syriza took over. Syriza has destroyed all progress greece made within a few months.

Wtf?? Which Greece are you looking at because it sure isn't the same one as I am. Anywho, I'm sure you can source that Greece has been recovering?

2014/nov/14
Eurozone GDP live: Greece growing again, Italy back in recession
2015/may/13
Greece back in recession; Bank of England cuts growth forecast - live updates



Within 3 months syriza ruined everything. You couldn't destroy greece faster if you tried.

[CTALNH]

http://www.bbc.com/news/world-europe-33296839

Greece's prime minister has called a referendum on 5 July for voters to decide whether to accept a bailout deal offered by international creditors.

Alexis Tsipras made clear he was against the "unbearable" bailout plan.

Parliament is debating whether to ratify the vote, and some queues have been seen outside banks in Athens.

Eurozone finance ministers are meeting to discuss the crisis, and to decide whether to give Greece an extension of the bailout until after the vote.

The current bailout expires on Tuesday, the same day Greece's IMF debt is due.

It is unclear what would happen if Greece does not get a temporary extension. Without a deal on the bailout, there are fears Greece's economy could collapse.

NSG what is your opinion on the referendum and what do you think is gonna happen if we greeks vote no on the bailout deal?

I am greek which will of course vote no and I hereby promise to give tsipras the power to take us out of the eurozone if it comes down to it.

Now I don't rightly know whats gonna happen if we vote no... But I would like to believe that we are gonna fuck our way out of the eurozone.

I think statistics say that we are gonna vote no between 55 to 65 %? I may be wrong as I am going through hear say with this part.

[Olivaero]

http://www.bbc.com/news/world-europe-33296839

Greece's prime minister has called a referendum on 5 July for voters to decide whether to accept a bailout deal offered by international creditors.

Alexis Tsipras made clear he was against the "unbearable" bailout plan.

Parliament is debating whether to ratify the vote, and some queues have been seen outside banks in Athens.

Eurozone finance ministers are meeting to discuss the crisis, and to decide whether to give Greece an extension of the bailout until after the vote.

The current bailout expires on Tuesday, the same day Greece's IMF debt is due.

It is unclear what would happen if Greece does not get a temporary extension. Without a deal on the bailout, there are fears Greece's economy could collapse.

NSG what is your opinion on the referendum and what do you think is gonna happen if we greeks vote no on the bailout deal?

I am greek which will of course vote no and I hereby promise to give tsipras the power to take us out of the eurozone if it comes down to it.

Now I don't rightly know whats gonna happen if we vote no... But I would like to believe that we are gonna fuck our way out of the eurozone.

I think statistics say that we are gonna vote no between 55 to 65 %? I may be wrong as I am going through hear say with this part.

I am extrememly supportive of citizens of a country getting a say in their economy and it pleases me no end that the people of Greece get this voice.

[Laerod]

The referendum is kinda meaningless. The people Greece wants money from are completely fed up with the continued bullshit of the Greek government. The ship has essentially sailed on finding a solution by the 30th of June, so the outcome referendum doesn't really matter as much as its announcement.

[CTALNH]

The referendum is kinda meaningless. The people Greece wants money from are completely fed up with the continued bullshit of the Greek government. The ship has essentially sailed on finding a solution by the 30th of June, so the outcome referendum doesn't really matter as much as its announcement.

Please elaborate because I don't understand what you mean.

[Laerod]

The referendum is kinda meaningless. The people Greece wants money from are completely fed up with the continued bullshit of the Greek government. The ship has essentially sailed on finding a solution by the 30th of June, so the outcome referendum doesn't really matter as much as its announcement.

Please elaborate because I don't understand what you mean.

The Greek delegation has continuously failed to provide functional lists of reforms when asked and when it has promised to deliver them, kept their negotiation partners waiting numerous times, revoked agreements, and now suggests that it will hold a referendum several days after the rather final deadline for when Greece slides into bankruptcy if no money is forked over. It goes on and on and this time Tsipras appears to have sufficiently pissed off the people he's asking to help him that they're no longer interested in doing so.

[Baltic Rome]

I'd like to ask OP how is voting no and leaving eurozone going to help Greece?

[CTALNH]

Please elaborate because I don't understand what you mean.

The Greek delegation has continuously failed to provide functional lists of reforms when asked and when it has promised to deliver them, kept their negotiation partners waiting numerous times, revoked agreements, and now suggests that it will hold a referendum several days after the rather final deadline for when Greece slides into bankruptcy if no money is forked over. It goes on and on and this time Tsipras appears to have sufficiently pissed off the people he's asking to help him that they're no longer interested in doing so.

Meh fuck the eu.

[Laerod]

I'd like to ask OP how is voting no and leaving eurozone going to help Greece?

Because it's a red herring. Leaving the Eurozone is a whole different bucket of coffee from Greece going bankrupt.

[Arkolon]

Regardless of the outcome, it's going to go through. I reckon Tsipras is just using this so that if the referendum result is in his favour he can stir up some more anti-EU/IMF sentiment in his voter base when the package is forced through. Frankly, I'm surprised he's still where he is and that Greece hasn't gone completely under yet but hey, something tells me Greeks should worry since that's a possibility that might just be right around the corner.

[Landinium]

NSG what is your opinion on the referendum and what do you think is gonna happen if we greeks vote no on the bailout deal?

I am greek which will of course vote no and I hereby promise to give tsipras the power to take us out of the eurozone if it comes down to it.

Now I don't rightly know whats gonna happen if we vote no... But I would like to believe that we are gonna fuck our way out of the eurozone.

I think statistics say that we are gonna vote no between 55 to 65 %? I may be wrong as I am going through hear say with this part.

Oh brilliant plan, leave the Eurozone, take the rest of us with you and plunge large economies into major crises, putting our small and new found growth at risk.

In my opinion Tsipras is a bad, bad politician and the rest of us in Europe is going to pay for his false promises

[Baltic Rome]

The Greek delegation has continuously failed to provide functional lists of reforms when asked and when it has promised to deliver them, kept their negotiation partners waiting numerous times, revoked agreements, and now suggests that it will hold a referendum several days after the rather final deadline for when Greece slides into bankruptcy if no money is forked over. It goes on and on and this time Tsipras appears to have sufficiently pissed off the people he's asking to help him that they're no longer interested in doing so.

Meh fuck the eu.

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Regardless of the outcome, it's going to go through. I reckon Tsipras is just using this so that if the referendum result is in his favour he can stir up some more anti-EU/IMF sentiment in his voter base when the package is forced through. Frankly, I'm surprised he's still where he is and that Greece hasn't gone completely under yet but hey, something tells me Greeks should worry since that's a possibility that might just be right around the corner.

When things get messy in internal politics then one must find external enemy. It helps to remain in the office for little bit longer.

[CTALNH]

Meh fuck the eu.

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Propaganda much?

The terms cannot be passed their gonna kill our economy.

[CTALNH]

Regardless of the outcome, it's going to go through. I reckon Tsipras is just using this so that if the referendum result is in his favour he can stir up some more anti-EU/IMF sentiment in his voter base when the package is forced through. Frankly, I'm surprised he's still where he is and that Greece hasn't gone completely under yet but hey, something tells me Greeks should worry since that's a possibility that might just be right around the corner.

We will not pass the measures they will kill our economy.

[Landinium]

Meh fuck the eu.

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Propaganda much?

The terms cannot be passed their gonna kill our economy.

We in Ireland, Portugal and Italy accepted these reforms and bit the bullet. Why the hell can Greece not? It's not the EU's fault that Greece lied to get into the Eurozone, it's not the EU's fault that Greece has had years of bad management and shitty government. The fault lays with Greece and Greece alone, we shouldn't pay for others problems it's not fair

[CTALNH]

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Propaganda much?

The terms cannot be passed their gonna kill our economy.

We in Ireland, Portugal and Italy accepted these reforms and bit the bullet. Why the hell can Greece not? It's not the EU's fault that Greece lied to get into the Eurozone, it's not the EU's fault that Greece has had years of bad management and shitty government. The fault lays with Greece and Greece alone, we shouldn't pay for others problems it's not fair

Tough luck you should have said no.

[Baltic Rome]

Because European Union refuses to hand out cash without any conditions? Greece can't live on other countries tax payers money forever. The purpose of these reforms is not to deliberately hurt Greece but make Greece live by its means.

Propaganda much?

The terms cannot be passed their gonna kill our economy.

I don't think it is propaganda.
Do you think Greece is entitled to recieve support from other countries forever because otherwise their economy will collapse? Greece has been running budget deficit since 1974. One day this had to come to end because it couldn't have gone on forever.

[Laerod]

We in Ireland, Portugal and Italy accepted these reforms and bit the bullet. Why the hell can Greece not? It's not the EU's fault that Greece lied to get into the Eurozone, it's not the EU's fault that Greece has had years of bad management and shitty government. The fault lays with Greece and Greece alone, we shouldn't pay for others problems it's not fair

Tough luck you should have said no.

You arguably shouldn't have said no after raking in all that aid.

[CTALNH]

Tough luck you should have said no.

You arguably shouldn't have said no after raking in all that aid.

Sorry we are too much bastards to receive our punishment.

[Landinium]

We in Ireland, Portugal and Italy accepted these reforms and bit the bullet. Why the hell can Greece not? It's not the EU's fault that Greece lied to get into the Eurozone, it's not the EU's fault that Greece has had years of bad management and shitty government. The fault lays with Greece and Greece alone, we shouldn't pay for others problems it's not fair

Tough luck you should have said no.

Really? Our economy is the fastest growing economy in Europe, economic growth is expected to hit nearly 4-5% next year, level not seen for a decade. Austerity has ended, money is flowing up the high streets again, people's disposable incomes are growing, inflation has dropped, unemployment has plummeted, banks are stable and business is flourishing. We're better off saying yes I'd imagine

[Borusenfront]

This case only shows that the euro should have never been created, especially as the currency was not recommended by economists. The Euro would fit the desires of some economies but not to other. It was far more logical if Greece had the same currency with countries that has similar economy as she do and not with Germany. There is also the issue of work etnics as the Greeks have no the protestant working habits as Germany or the Netherlands.

[Marcurix]

Regardless of the outcome, it's going to go through. I reckon Tsipras is just using this so that if the referendum result is in his favour he can stir up some more anti-EU/IMF sentiment in his voter base when the package is forced through. Frankly, I'm surprised he's still where he is and that Greece hasn't gone completely under yet but hey, something tells me Greeks should worry since that's a possibility that might just be right around the corner.

We will not pass the measures they will kill our economy.

Because defaulting and leaving the free-trade area is going to be just peachy.

Neither will kill the Greek economy, but the defaulting and leaving the free-trade area will damage the Greek economy far more than the bailout deal.