Greece

[anobium]

What do you think, should Greece be helped?
This is a country which represents just 2% of the GDP of the Euro zone
A country which has a retirement age of 57 and which pays its civil servants an extra months pay if they turn up for work on time.
A country in which a large percentage of the professional classes pay very little or no income tax at all.
A country which contains a large number of apparently uncompleted houses identified by the reinforcing bars sticking out of the roof, another tax fiddle.
The list goes on and on.
No wonder they still want to retain the euro, they know that if they went back to the drachma they would not be able to rely on the other EEC members to pull them out of their current mess and they would have to implement changes in line with other countries.
Kick the lazy so and so's out of the EURO and let them sink or swim.

 

[EddieM]

They must default, leave the euro, devalue and try to rebuild, there is no other credible option.

 

[JohnD]

I read on the FT that 25% of deposits have been withdrawn from Greek banks (they are switching their money into German bonds). FT comments that what is surprising is not that 25% has been withdrawn, but that 75% hasn't (yet).

There's not much point in keeping your money in a bank that will go bust without EU support, when the Greek government (if any) can't bail it out, and it will probably be converted into incredible shrinking Drachmas sooner or later.

 

[skyboy]

Personally I would not help them, went on a holiday to Zante once and almost without fail the people were rude to me and my family.
Maybe my blonde hair had made them think I was German? But no we were obviously talking English.

Treatment included..

When shopping no matter how long you had been queuing when a Greek came into the shop they would go to the front of the till and be served immediately.

When shopping staff would be rude to you and even totally ignore you when you tried to ask about products.

Went for a meal at an expensive restaraunt where the Mayor and his entourage were eating. We were told now you will see how the Greeks like to party...indeed we did for an hour and a half while we were totally ignored other than the one bottle of champagne we had ordered that came in warm water because the Mayors Party had used up all the ice..
We gave up in the end waiting for our food order to be taken and just got up and left , they tried to make us pay for the drink we had but it was the last day and the last straw of a week when as contributors to their economy we had been treated with disrespect so we just walked out.


So they have been dodging paying tax - You reap what you sow..

No let them sink....

 

[^woody^]

Have a look at this, it was on the other evening and gives quite a good insight into what is going on and some attitudes to the issue

www.bbc.co.uk/iplayer/episode/b01hllyd/This_World_Michael_Portillos_Great_Euro_Crisis/

 

[anobium]

Just when you thought it couldn't get worse, read this.
It is from a 2010 publication regarding retirement in Greece.

People in a variety of occupations have been given this early retirement, even if their job does not seem too dangerous, on the surface at least.

Vasia Veremi is a hairdresser, one of the occupations that falls in to the bracket and not exactly a mine inspector in Afghanistan. She told the International Herald Tribune: “I use a hundred different chemicals every day — dyes, ammonia, you name it,’’ she said. ‘‘You think there’s no risk in that? People should be able to retire at a decent age, we are not made to live 150 years.’’

Whilst Miss Veremi’s comments may have a ring of truth to them, there are still reservations about Greece’s policy. In total there are 580 jobs that the Greek government has deemed dangerous enough for the workers to take early retirement, at the age of 55 for men and 50 for women. Some of the jobs, including bomb disposal and coal mining, are obviously fairly dangerous and may warrant an early retirement but eyebrows are being raised at other occupations such as the aforementioned hairdressers and other fairly innocuous roles like television and radio presenters, who are thought to be at risk from bacteria on their microphones, and also musicians who use instruments like the saxophone, due to the strain it has on the respiratory system.

 

[EddieM]

I read on the FT that 25% of deposits have been withdrawn from Greek banks (they are switching their money into German bonds). FT comments that what is surprising is not that 25% has been withdrawn, but that 75% hasn't (yet).

There's not much point in keeping your money in a bank that will go bust without EU support, when the Greek government (if any) can't bail it out, and it will probably be converted into incredible shrinking Drachmas sooner or later.

Yes read that too, they are going over the edge now. not looking good, and not at all good for us either. This is what pains me though, why do we all get dragged down by others irresponsibility.

 

[joe-90]

Greece don't have a problem. They are a popular holiday destination with hardly any people - it would simply turn the clock back ten years and carry on as before. We, however, have a massive population and no way to generate income. We are the ones in the poo.

 

[EddieM]

Greece don't have a problem. They are a popular holiday destination with hardly any people - it would simply turn the clock back ten years and carry on as before. We, however, have a massive population and no way to generate income. We are the ones in the poo.

err, greece are net importers, they will be in very deep do do. plus they cant just walk away from the debt.

 

[raebhoop]

Spotted this last year...apart from showing what rubbish we get for a state pension...look who's at the top.

 

[wreckedit]

Thought you would like to take a look at this. It is from last year.

http://www.bbc.co.uk/news/business-14977728

I feel sorry for the Greek people because they have been badly managed by their governments. But most of all they were let in to the EU by some very irresponsible officials. Pricewaterhouse the people who cooked the Greek books to enable them to get in the EU were accomplices in the process.

The whole financial process of the EU was caught out by the credit crunch because it probably accelerated the process of getting Greece out of the EU.

 

[joe-90]

Greece don't have a problem. They are a popular holiday destination with hardly any people - it would simply turn the clock back ten years and carry on as before. We, however, have a massive population and no way to generate income. We are the ones in the poo.

err, greece are net importers, they will be in very deep do do. plus they cant just walk away from the debt.

Oh yes they can - and will. They'll go back to olive groves and lazy life - they won't miss the Euro one bit. BTW - where did the money they loaned come from? Where does all money come from?

 

[enyam]

plus they cant just walk away from the debt.

Who or what's to stop them?

 

[Norcon]

Where does all money come from?

Its conjured up for the benefit of purchasing materials.
The materials have a value so if you don't pay for them you don't get anymore.
Unless you have something materialistic to trade in return.
Simples.

A bank near me signed over the entire building they owned to a customer because the funny money had run done.

 

[joe-90]

They've got sunshine to sell and beaches and lots of islands. They'll pay cash for what they need - just as they have always done.