Greece...

antrobus

worldtraveller wrote: »

...The Hellenic Statistical Authority said that Gross Domestic Product (GDP), a measure of a country's economic output, surprisingly increased by 0.8% in the three months to June....

I'm inclined to agree with Thrugelmir on this one.

Interestingly, growth in Germany was only 0.4% and France a stunning 0.0%. Yea for French anti-austerity socialism!

In other news both the Greek Parliament and the Eurogroup have approved Bailout version 3. The can has been given another almighty kick.

Yolina

When I see that bit:

The Hellenic Statistical Authority said

I automatically go with:

Or, simply rigged!

:rotfl::rotfl::rotfl:

antrobus

Although the Greek parliament approved the deal 222-64, only 118 of those positive votes came from the governing coalition. A technicality in Greek law specifies that at least 120 members of the governing coalition need to be onside to defeat a confidence motion.

Tsipras is apparently expected to ask for a vote of confidence in Parliament some time soon. Either some of those 43 Syriza rebels change their mind, or there will be an election.

Graham_Devon

Did I hear correctly on the news that this deal makes the Euro irreversible for Greece?

The news item appeared to suggest that Greece could never leave the Euro if the deal is taken? The point wasn't so much about Greece (although they did suggest that there is absolutely no point apposing the EU in Greece now or voting for any party which apposes anything to do with the EU), but more the issue that Greece can never, at any point, be ejected from the Euro, which could mean bailouts until a time that the Euro ceases.

Mistermeaner

Don't think that's possible. Suppose they just decide to use oak leaves instead of the euro. People in Greece and foreign nations are all happy to receive oak leaves for goods and services - what does the eu do? Invade?

Clearly subsidies and support stop but that was always the case anyway?

antrobus

Graham_Devon wrote: »

Did I hear correctly on the news that this deal makes the Euro irreversible for Greece?....

That's what that man Juncker said.

Graham_Devon wrote: »

...The news item appeared to suggest that Greece could never leave the Euro if the deal is taken?

The deal has been taken. There is no if.

Graham_Devon wrote: »

...The point wasn't so much about Greece (although they did suggest that there is absolutely no point apposing the EU in Greece now or voting for any party which apposes anything to do with the EU), but more the issue that Greece can never, at any point, be ejected from the Euro, which could mean bailouts until a time that the Euro ceases.

A week is a long time in politics.

Aretnap

The Euro has always been irreversible. At least, that's the fiction on which it is founded.

Generali

Graham_Devon wrote: »

Did I hear correctly on the news that this deal makes the Euro irreversible for Greece?

To paraphrase Prince, "That's a mighty long time".

No currency since industrialisation has lasted in a static state for more than a few decades that I can think of.

Yes, we still spend pounds but the backing of that pound since 1914 has changed perhaps a dozen times (almost).

antrobus

Greece's Prime Minister Alexis Tsipras is set to call a snap election for 20 September, according to Greek media.

http://www.bbc.co.uk/news/world-europe-34007859

In other news, Greece made a payment of €3.2 bn due to the ECB today. And they have sold some airports. To a German company, of course.

Graham_Devon

Did the IMF payments for which they [STRIKE]defaulted[/STRIKE] were late on ever get paid?

Or was that part of the bailout? All I remember is the IMF stating they couldn't lend to a country who already had a default on the last loan - but they appear to have done just that??