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

misskool

I've merged all the threads on the Greek referendum as they are discussing the same topics.

julieq

Graham_Devon wrote: »

Hang on.

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

No-one realistically expects Greece not to default. It's priced in. What happens next is up for grabs, depending largely on the level to which Greece is punished and whether Italy feels it worth going down the same path.

Even with yesterday's drops, we were well above the lower levels reached this year anyway.

Thrugelmir

gailey wrote: »

think ireland be ok

Eire has problems down the road. Like the entire Western world it requires a high level of growth every year to service its levels of debt. If growth fails to materialise then the debt becomes unsustainable.

Maybe globalisation as we know it has run its course. Time for every country to actually address the problems it individually faces.

QE and devaluing currencies is merely creating a race to the bottom.

1984ReturnsForReal_2

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 ......

Tiny little bumps down with the help of Europe has been factored in.


A massive drop off the cliff on the 5th December has not been "factored" in.

It is going to be a very interesting 5 weeks.

Also, don't forget Europe will get shafted to. Not just the commercial banks & businesses.

WhiteHorse

Talk of default is nonsense. Greece, Spain, Portugal and Italy have never been solvent. None of them could have ever paid back their borrowings. Ireland was solvent, but was lured into debt.

These countries were bought.

mystic_trev

Greece should never have been allowed to join the Euro. It's been like giving an 18 year old a credit card with a £100,000 limit. He's blown that and is now borrowing off family members, promising to pay them back next week, and of course he never does.

Interesting that Greece are having a referendum. Does anyone really think their Government is interested in their peoples views? No, they're letting the rich know the times up, move your money out of the Country PDQ.

vivatifosi

gailey wrote: »

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

In other words they want the best of both worlds. There will now be a slow dawning that they can't achieve this.

Graham_Devon

I quite like it in a way - not because of the mess it will cause, but the fact that a politician, for whatever reason, is reminding us, and the Euro dictators that we still live in a democracy.

It's really upset those who cheer democracy to find out that the people may have a say....and what's more, may hold more power than the top dogs. They do not like it, they don't like it one bit. Theres some twisted satisfaction that I get from that!

John_Pierpoint

It is interesting that the Greeks sneaked the legislation for a referendum through the legislator a month ago. Nobody in the rest of Europe noticed.
Clever move by an experienced politician ?!?

It does not pay to take these little far away places for granted. First Slovakia turns over the apple cart and now its Greece.

http://en.wikipedia.org/wiki/Greek_economic_miracle

Really2

Personally I think it is nothing to do with democracy and is a re-election stunt.

It's a bit like asking a skint person to vote on an IVA arranged for them that sees many debts written off or just walking away?

It is odd that they give the people the say in which bad future they chose but never give them a say about joining.

I cant call picking your fate democracy,.
I think choosing to live or die is the democracy. Not the choice of how you are going to die.