Greece...

antrobus

But the good news is that the Greek stockmarket was up today and the Greek government managed to meet its pension payroll. They raided the reserves of the Athens Water Supply and Sewerage Company.:)

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_26/06/2015_551553

purch

That stinks :eek:

antrobus

purch wrote: »

That stinks :eek:

Yes, but where else can you find 60 million euros on a Friday?

ManAtHome

antrobus wrote: »

Yes, but where else can you find 60 million euros on a Friday?

Draghi's printing more than that every hour, and unlikely he'll only have an hour for lunch, and probably won't be too good at counting when he gets back...

Killerseven

Graham_Devon wrote: »

Think were back to squeeky bum time to be honest.

Greece has, this afternoon rejected further proposals from it's creditors. Not sure I blame them to be honest as some of the proposals hurt the very industries Greece has a chance of turning things around on. The proposals also hit the poorest the hardest.

Greece has proposed taxing the rich more, but Germany has refused that concession, instead wanting to tax everyone and somewhat punish the poor by adding 23% VAT to food.

Even Euro supporters are coming around to the idea that you can't simply keep punishing the Greek people to save German face.

EU officials are even threatening removing Humanitarian aid from Greece shoudl Greece not accept their proposals. Personally, I find that truly appauling.

I wouldn't like to live there now, or anytime in foreseeable future.

But if they do default and leave the euro, it will be good place for holidays, the pound will buy a lot of drachmas.

But what will happen to all the losses that the banks have sold on and spread around the world?

[Deleted User]

Killerseven wrote: »

what will happen to all the losses that the banks have sold on and spread around the world?

Hopefully a good old fashioned global currency collapse.

michaels

Borrow 300bn Euro, !!!! 200bn up against the wall and hide the other 100bn under the mattress.

Default

Keep whatever you have spent the 200bn on.

Have no need for credit (which you can now no longer get) because you have 100bn stashed away that you no longer need to pay back.

Ouzos all round.

antrobus

michaels wrote: »

Borrow 300bn Euro, !!!! 200bn up against the wall and hide the other 100bn under the mattress.

Default

Keep whatever you have spent the 200bn on.

Have no need for credit (which you can now no longer get) because you have 100bn stashed away that you no longer need to pay back.

Ouzos all round.

If only Greece had stashed away €100 bn.

Sadly, Greece has run out of money. They only just managed to find enough money on Friday to pay pensions.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_26/06/2015_551563

michaels

antrobus wrote: »

If only Greece had stashed away €100 bn.

Sadly, Greece has run out of money. They only just managed to find enough money on Friday to pay pensions.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_26/06/2015_551563

Sure Greece the govt is broke...doesn't mean Greece the people don't have cash salted away.

More (a bit shallow but along the right lines) on game theory:
http://www.bbc.co.uk/news/magazine-33254857

And more game theory in action:
http://www.bbc.co.uk/news/world-europe-33296839

This is like the bit where you are playing chicken and you lock the steering wheel in place so you can no longer swerve.

antrobus

michaels wrote: »

Sure Greece the govt is broke...doesn't mean Greece the people don't have cash salted away.....

Unless "Greece the govt" can get it's hands on this alleged pile of cash salted away by "Greece the people", that don't mean anything much at all.