Do Greek voters think they can just go on spending more than they earn forever?

1984ReturnsForReal_2

MrRee wrote: »

A NO vote is factored into the worlds economy .......

Not yet its not. Another few days for that.

MrRee_2

A Greek default has been factored in for years ..... that's nothing new at all ....... Italy is the big one as it cannot be bailed out ......

gailey_2

Just watching the news about proposed referendum

The question greeks wanted to put to their people was

bail out or not.

But europes said the question has to be

in or out the euro?

I guess if they voted in then they accept the bailout.

its confusing as i gather the greeks want in the euro but dont want the bailout or austerity measures.

If no then they leave the eurozone and the euro I guess
if they leave I imagine they go back to their own currency.

what a mess!

sarzokey and merkel look mad.

think they want to cut greece loose and hope contagion does not spread to other countries.

Graham_Devon

MrRee wrote: »

A Greek default has been factored in for years ..... that's nothing new at all ....... Italy is the big one as it cannot be bailed out ......

Hang on.

Are you saying if the greeks default, the stock markets won't suffer large sell offs?

lvader

Graham_Devon wrote: »

Hang on.

Are you saying if the greeks default, the stock markets won't suffer large sell offs?

And then go up by the same amount a week later... Greece is frankly irrelevant.

Graham_Devon

They don't want greek people having a say, and they certainly don't want Greece leaving the Euro.

I expect panic responses from Merkel etc pretty soon.

French President Nicolas Sarkozy has said "giving people a voice is always legitimate but the solidarity of all eurozone countries is not possible unless each one agrees to measures deemed necessary". In other words, the needs of the eurozone trump democracy.

That's pretty dire from Sarkozy.

ruggedtoast

Shift key is on the left chief.

MrRee_2

Graham_Devon wrote: »

Hang on.

Are you saying if the greeks default, the stock markets won't suffer large sell offs?

Of course there will be a panic ..... I shall buy when all the computers say sell - and then, as always happens, the market recovers within a week I shall sell and pocket the gains.

Greece is just a way of making a fast buck if you're cute ..... it is a very small world player.

If Italy stuttered then I too would be changing my underpants ... but, not until.

gailey_2

I think the problem with the question is

they 2 different issues with different responses.

The referendum was meant to be about the bailout now eu saying no its in or out.
we not paying next lot of money so by end of nov greece be out of money.
referendum scheduled for dec hopefully.

newsnight raised important issue.

if eu cut off money in november to punish them for voting then the greeks maybe even more likly to vote out as feel the eurozone hostile to them!

Really tricky as no ones got a solution.

if greeks stay in they unhappy and civil unrest.
unsure if current governement can stay if they go early election the unceratinty will affect the uro markets.

If the vote out, go back to own currency and eurozone dont do bailout how will they cope?

but bailouts tricky as the bailout fund is not enough and china said today they reluctant to invest in the bailout!

Its a huge messup just 5days after a deal was struck.

glad we not in it but we all so linked everyone will feel the effects.

think ireland, portugal and pain be ok but italy will hit trouble next and frances credit rating will be downgraded .

tartanterra

"How will Greece vote?"

Doesn't really matter.
They will default whatever the outcome is. They haven't the ability or willpower to pay back their borrowings, no matter how many austerity measures they accept.