Greece...

Froggitt

AG47 wrote: »

Hearing about about a bail-in anybody with savings over 8000 will have a huge chunk taken out to pay towards the interest owed, before banks open again.

Bet they wish they withdrew before the banks imposed capital controls.

You would have had to be a real !!!!wit not to have withdrawn all your money weeks ago.

CLAPTON

HAMISH_MCTAVISH wrote: »

Interesting...

So you've found a way for savers to get returns without someone borrowing their money?

Or for surplus nations to continue running a surplus without someone else buying all their stuff?

Do explain further....

I'm sure the global economic community is eagerly awaiting your magical solution.

try rereading your actual post and examining the use and position of the words 'must'.

obviously a moron knows that globally imports and exports must sum to zero
and that savings and borrowing and closely related

however, the fact that some-one is willing to export doesn't mean that some-one is willing to import (nor 'MUST' they)
nor does it mean that some-one willing to lend means that there is some-one willing to borrow (or vice versa either)

Greece didn't have to borrow simply because money was available.

lvader

ChiefGrasscutter wrote: »

Beats me why the EU is waiting for new Greek proposals.
In case they have not noticed the Greek government has just won a resounding mandate for their approach - which was rejected previously by the EU

So it seems up to the EU to start being more "accommodating" - or to put it more bluntly which option does the EU want:
1 EU to give Greece say 30+% debt relief or
2.Greece to default 100% tells Merkel to shove her euros up her arrse and the EU gets nowt.

Germany would vote for number 2 in a heartbeat, but it still wouldn't solve the current problems.

padington

The Greek government is acting like it has a plan B secured to me, bet it involves Russia.

antrobus

ChiefGrasscutter wrote: »

Beats me why the EU is waiting for new Greek proposals.....

Because Greece rejected the last Eurogroup proposals.

ChiefGrasscutter wrote: »

...In case they have not noticed the Greek government has just won a resounding mandate for their approach - which was rejected previously by the EU...

The Greek government might have "won a resounding mandate" from the Greeks, but that is not binding on the other 97% of the Eurozone. It doesn't actually change anything.

ChiefGrasscutter wrote: »

.
So it seems up to the EU to start being more "accommodating" - or to put it more bluntly which option does the EU want:
1 EU to give Greece say 30+% debt relief or
2.Greece to default 100% tells Merkel to shove her euros up her arrse and the EU gets nowt.

I think what the Eurogroup want is for Greece to sign up to its last set of proposals, is that's not what Greece wants, Greece has to be specific about what it wants.

antrobus

padington wrote: »

The Greek government is acting like it has a plan B secured to me, bet it involves Russia.

China would be a better choice. They have more money.

mwpt

ChiefGrasscutter wrote: »

Beats me why the EU is waiting for new Greek proposals.
In case they have not noticed the Greek government has just won a resounding mandate for their approach - which was rejected previously by the EU

They already had a mandate to reject austerity, that's what they were voted in on. This is nothing new. What does the referendum actually change? I mean actually change, that wasn't already known? Greeks don't want austerity, but want to remain in the Euro? We all knew it, it didn't take a referendum to say so.

So it seems up to the EU to start being more "accommodating" - or to put it more bluntly which option does the EU want:
1 EU to give Greece say 30+% debt relief or
2.Greece to default 100% tells Merkel to shove her euros up her arrse and the EU gets nowt.

Disagree. If they haven't been accommodating this far, with the mandate for Syriza to end austerity, I don't think this referendum has put much, if any, more pressure on them.

Greece can default, but it doesn't mean 100% loss for her creditors. There is a whole legal mess to sort out and creditors may (probably will) still have claims.

Emotional blackmail and humanitarian threats become hollow after a while if the people realise you aren't willing to play your trump card : Default.

But as I've said before, my position is now a very strong desire for Greece to officially default.

mystic_trev

Looks like it's on a knife edge, but I reckon Greece will cut a deal.

padington

antrobus wrote: »

China would be a better choice. They have more money.

They don't have a clear desire to own larger chunks of Europe though.

Seen puntin's PHD ?

Also did you notice that China didn't congratulate the referendum result, Russia and Cuba did though.

On top of that evil overlords love islands and Putin is more evil.

Case closed my honour.

Thrugelmir

mystic_trev wrote: »

Looks like it's on a knife edge, but I reckon Greece will cut a deal.

Why now after months of negotiation ( and years of broken promises by the Greeks themselves).