Greece...

AndyGuil

Graham_Devon wrote: »

Whether this will all happen or not is yet to be witnessed.

However, the quicker this happens, the quicker (and easier) we can come out the other side. It's going to be tough, but kicking the can time after time just makes the inevitable worse and worse.

No one wants the inevitable to happen on their watch.

Precisely, no one wants it to happen but it is almost certain now. They have pumped so much money propping it up/kicking the can down the road that is it going to ruin half of Europe and severely damage the rest.

RUN_RABBIT_RUN

Graham_Devon wrote: »

EU Ministers want (actually, demand) a further 325m worth of cuts in Greece now....

http://www.bbc.co.uk/news/world-europe-17037267

Love the demand for the cuts to be enacted regardless of who takes office. Brilliant. These people are desperately fruitloop!!

as much as i dislike the eu i think they are totally right in wanting additional assurances if they are lending (some would say giving) a bust greece 130bn euros

of course its an affront to democracy but what else would you expect them to do? they (the eu) are about to become a massive creditor to a broken country

Mrs_Bones

I can understand Germany and the rest of the EU bailout backers wanting some assurances that the money will be repaid back, but these in theory at least, are suppose to be intelligent people. They must know that any such assurances will not be worth the paper they are written on. If they hold elections there is a fair chance that many of them lending their signatures to the agreements will not even be in government next term.

Germany should know that any should agreements are worthless more than anyone else, given how much they stole from Greece in WW2 and never paid back.

Graham_Devon

Apparently this will be sorted out and the bailout back on in the next few hours.

RUN_RABBIT_RUN

Mrs_Bones wrote: »

I can understand Germany and the rest of the EU bailout backers wanting some assurances that the money will be repaid back, but these in theory at least, are suppose to be intelligent people. They must know that any such assurances will not be worth the paper they are written on. If they hold elections there is a fair chance that many of them lending their signatures to the agreements will not even be in government next term.

i agree but what else can they do? they're lending a bust country 130bn euros

setting up some kind of eu puppet government in greece would be the logical answer but theres no way anyone would stand for that - least of all the already angry people of greece

vivatifosi

The latest Philip Atticus blog is interesting, it has a piece on the violence in Athens and how it isn't being dealt with:

http://www.philip-atticus.com/2012_02_01_archive.html

BlondeHeadOn

Another interesting article here, on how a currency could be reintroduced if a country defaults:

http://www.bbc.co.uk/news/business-16981897

"New currency

A government planning to leave the euro is likely to put in a discreet but urgent call to one of the top international currency printers - like the UK-based firm De La Rue.

It prints everything from the UK's pound sterling to the newest version of the currency in Iraq, the dinar.
....
But a government could not commission and take delivery of a new currency without word leaking out and panic spreading.

It is much more likely that a withdrawal for the euro would be announced suddenly, and then there would be an interim period - those four months, say - during which a temporary national currency would be used.

Euro notes previously in circulation in a withdrawing country might be overprinted, or have special stickers added. "


The article goes on to discuss the effects this would have, and the problems of trying to stop euros from being rapidly taken out of an affected country - intersting and slightly scary reading.

RUN_RABBIT_RUN

vivatifosi wrote: »

The latest Philip Atticus blog is interesting, it has a piece on the violence in Athens and how it isn't being dealt with:

http://www.philip-atticus.com/2012_02_01_archive.html

thats an interesting read and highlights the eagerness of the modern media to distort the truth

unfortunately we still all lap it up

i do still think its a preview of things to come though, from ordinary greek people. they're not going to take it lying down

RUN_RABBIT_RUN

BlondeHeadOn wrote: »

Another interesting article here, on how a currency could be reintroduced if a country defaults:

http://www.bbc.co.uk/news/business-16981897

yeah thats the one i linked to on my separate thread

scary stuff

Degenerate

RUN_RABBIT_RUN wrote: »

i do still think its a preview of things to come though, from ordinary greek people. they're not going to take it lying down

There's a good chance this will ultimately end in military dictatorship for Greece.

The country is becoming difficult to govern already and the economic situation is about to get a whole lot worse. The upcoming elections are likely to result in decimation of the the mainstream parties and surges in support for the far left and right. There will be no clear mandate for any party, and the differing factions will be to ideologically disparate to work together, leaving no-one effectively at the helm right at the moment when strong leadership is most needed. That when the generals will step in.

I wonder how the Merkel and the rest of the Euro-zone leadership will spin that one if it happens?