Greek elections - beginning of the end for the EU?
- Thread starter Brigadier
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Posturing by Greek MP.
Euro will bully.
Greek MP's wont have the balls to pull out of Euro (they really really should).
Compramise on debt will be made.
Carry on as normal.
6 months later debt 'compramise' will be shown to be a sham and greece will still be fubared.
Euro will bully.
Greek MP's wont have the balls to pull out of Euro (they really really should).
Compramise on debt will be made.
Carry on as normal.
6 months later debt 'compramise' will be shown to be a sham and greece will still be fubared.
From a purely selfish perspective, I think this is excellent news and is likely to hasten the destruction of the EU. It's just a pity that so many people of European nations have had to suffer from their mismanagement and dictatorial attitude.
Regular readers here will be aware that I predicted the eventual collapse of the EU experiment quite some time ago. One step nearer.
Regular readers here will be aware that I predicted the eventual collapse of the EU experiment quite some time ago. One step nearer.
N
Newboy
The problem is that the Euro cannot fail - the financial consequences for the world are unmanageable.
As usual a fudge will be found and the financiers will play smoke and mirrors
As usual a fudge will be found and the financiers will play smoke and mirrors
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Maybe they will take a tip from dodgy builders close the company and start up under another country name wiping out all debts and putting all the asset's in the wife's name! 
It's no surprise, staying with the present setup was like turkeys voting for Christmas. I have a lot of sympathy for the ordinary Greek people the tax system seems to have been chaotic and they are picking up the pieces.
If it gives the euro barons a few sleepless nights that's OK with me
It's no surprise, staying with the present setup was like turkeys voting for Christmas. I have a lot of sympathy for the ordinary Greek people the tax system seems to have been chaotic and they are picking up the pieces.
If it gives the euro barons a few sleepless nights that's OK with me
According to this, the "ordinary Greek people" are a big chunk of the problem.
http://en.wikipedia.org/wiki/Tax_evasion_and_corruption_in_Greece
"Tax evasion is a national sport."
"Tax evasion was seen as a form of patriotism."
I see no reason why the other countries should continue shovelling in their hard-earned money to prop up a corrupt and spendthrift little nation.
It will be very bad for the Greeks when they leave the Euro, but if they can't run their own economy, they shouldn't be allowed to drag down the other nations.
The countries who have put their hands deepest into their pockets are actually resented by many of the Greeks, who see it as a slur on their national pride. If they aren't going to pay back the loans or fulfil their promises, they obviously can't expect more money to be showered on them.
It will be very bad for the Greeks when they leave the Euro, but if they can't run their own economy, they shouldn't be allowed to drag down the other nations.
The countries who have put their hands deepest into their pockets are actually resented by many of the Greeks, who see it as a slur on their national pride. If they aren't going to pay back the loans or fulfil their promises, they obviously can't expect more money to be showered on them.
I was listening to the vote (and the political comment) on the above.
An interviewee said that it was a great day for Greece - Greece had regained her pride.
Spend until you're on the verge of national bankruptcy.
Get bailed out with a quarter of a trillion euros.
Tell the lenders that they can whistle for half of it back (but then say, "Any chance of that 7 billion we were going to get, next month?")
Funny definition of "pride"............
An interviewee said that it was a great day for Greece - Greece had regained her pride.
Spend until you're on the verge of national bankruptcy.
Get bailed out with a quarter of a trillion euros.
Tell the lenders that they can whistle for half of it back (but then say, "Any chance of that 7 billion we were going to get, next month?")
Funny definition of "pride"............
Really the EU seems to be now caught between a rock and a very hard place. Should Greece now default on their repayments, Germany will complain vehemently, but eventually agree to write their debts off. Once that happens, other EU countries will think "Hey let's do that and get our debts written off too." Spain, Italy etc would follow suit and bring about the end of the euro (and possibly the EU) (can't come soon enough personally)
(can't come soon enough personally)or, Greece could be booted out of the Euro, on the understanding that they will be allowed back if they change their ways (i.e. never) and will not get any more loans if they refuse to keep to a repayment plan (100 years, perhaps)
I must agree, and I think Germany is being foolish to allow billions of Euros to be paid to Greece in the almost certain likelihood that it will never be repaid.
As Jock says, this could spell the end of the EU which, I think, would benefit at least the northern European countries and certainly ourselves. The south and the east would, of course, be distinctly disappointed being nett beneficiaries of the system. Not that I have anything against them personally: we have friends in Portugal and a very good Polish odd-job man locally.
As Jock says, this could spell the end of the EU which, I think, would benefit at least the northern European countries and certainly ourselves. The south and the east would, of course, be distinctly disappointed being nett beneficiaries of the system. Not that I have anything against them personally: we have friends in Portugal and a very good Polish odd-job man locally.
Germany have brought much of this on themselves. They wanted the Greeks in. They wanted to be at the centre of a very big bloc.
Greece should never have gone into Europe in the first place (always was a financial basket-case), but it saw Europe as the land of milk and honey, and wanted in.
The books were "cooked", to permit entry into The Club.
If anyone told me that the combined nous of the EU financial wizards didn't spot that, I'd be dubious, to say the least.
All was well, while the party lasted. Then, when it came time to paying the bill, the toys came out of the pram.
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What about all the other countries in the EU who can't balance their books should they be kicked out as well.
What about the north of England being subsidised by the south, should they be thrown out?
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