Greece...

CLAPTON

mayonnaise wrote: »

I want a referendum on our membership of the IMF.

one of your few intelligent post : with Legarde in charge who would want to be a member

antrobus

CLAPTON wrote: »

so directly due the the failure of the euro zone to resolve the problems of greece, we could contribute to the greece bailout

this could also happened if we brexited but it's no less a failure of the EU economic management.

The EU is simply the bogey man you blame for all the ills of the world.

Now, I don't like the EU very much, and I think the EZ were idiots for letting Greece sign up, but it's not their fault that Greece has a dysfunctional tax system and spent too much money. (And lied about it.)

The UK probably has a much lower exposure to Greece as a result of Greece's EZ membership than it would have otherwise had. Because it's the EZ that's now on the hook for all that debt that Greece can't really pay.

CLAPTON

antrobus wrote: »

The EU is simply the bogey man you blame for all the ills of the world.

Now, I don't like the EU very much, and I think the EZ were idiots for letting Greece sign up, but it's not their fault that Greece has a dysfunctional tax system and spent too much money. (And lied about it.)

The UK probably has a much lower exposure to Greece as a result of Greece's EZ membership than it would have otherwise had. Because it's the EZ that's now on the hook for all that debt that Greece can't really pay.

Only the usual acolytes make the silly claim that brexiters blame the EU for all the world's ills. Almost as silly as saying that brexit will cause WW3 (although no-one would be as stupid to imply that of course)

The financial melt down was 8/9 years ago so it is not unreasonable to discuss the EUs economic management.

But it is good to know you believe the EU has saved the UK from too much Greek exposure: well done the EU and very fair minded of you.

worldtraveller

The International Monetary Fund is demanding that Europe free Greece from all payments on its bailout loans until 2040, in the opening bid of a struggle that pits IMF math against German muscle.

A new IMF proposal shared with Europe late last week goes far beyond what Greece’s eurozone creditors, led by Germany, have said they are willing to do to help the country regain its financial health. Germany is leading the pressure on the IMF to dilute its demands and rejoin the Greek bailout program as a lender.

The IMF wants eurozone countries to accept long delays in the repayment of Greece’s bailout loans, which would fall due in the period from 2040 to 2080 under the proposal, according to officials familiar with the talks.

The IMF is also pressing for Greece’s interest rate on its eurozone loans to be fixed for 30 to 40 years at its current average level of 1.5%, with all interest payments postponed until loans start falling due.

WSJ

mwpt

worldtraveller wrote: »

The International Monetary Fund is demanding that Europe free Greece from all payments on its bailout loans until 2040, in the opening bid of a struggle that pits IMF math against German muscle.

A new IMF proposal shared with Europe late last week goes far beyond what Greece’s eurozone creditors, led by Germany, have said they are willing to do to help the country regain its financial health. Germany is leading the pressure on the IMF to dilute its demands and rejoin the Greek bailout program as a lender.

The IMF wants eurozone countries to accept long delays in the repayment of Greece’s bailout loans, which would fall due in the period from 2040 to 2080 under the proposal, according to officials familiar with the talks.

The IMF is also pressing for Greece’s interest rate on its eurozone loans to be fixed for 30 to 40 years at its current average level of 1.5%, with all interest payments postponed until loans start falling due.

WSJ

This is a splendid policy regarding debt. My £3m mansion on the river or next to Wimbledon Common is looking closer all the time. In fact, I may consider including Richmond in my search area.

Under this view of debt I could borrow the money, live like a king, but when my finances didn't quite match up I'd just get the media involved and stir up some racial memory against the creditors so that everyone would pressure them to let me off the hook for the next 30-60 years. Future me can deal with it, I heard he'll be rich because he'll have a lot of debt and debt is money and so forth.

CLAPTON

mwpt wrote: »

This is a splendid policy regarding debt. My £3m mansion on the river or next to Wimbledon Common is looking closer all the time. In fact, I may consider including Richmond in my search area.

Under this view of debt I could borrow the money, live like a king, but when my finances didn't quite match up I'd just get the media involved and stir up some racial memory against the creditors so that everyone would pressure them to let me off the hook for the next 30-60 years. Future me can deal with it, I heard he'll be rich because he'll have a lot of debt and debt is money and so forth.

Wimbledon Common is imcomparably better that Richmond : after brexit and WW3, sea rise will wipe out richmond whilst wombles will be laughing.

michaels

mwpt wrote: »

This is a splendid policy regarding debt. My £3m mansion on the river or next to Wimbledon Common is looking closer all the time. In fact, I may consider including Richmond in my search area.

Under this view of debt I could borrow the money, live like a king, but when my finances didn't quite match up I'd just get the media involved and stir up some racial memory against the creditors so that everyone would pressure them to let me off the hook for the next 30-60 years. Future me can deal with it, I heard he'll be rich because he'll have a lot of debt and debt is money and so forth.

More realistic is that you have borrowed the 3m (can you really get a mansion that cheap in Winbledon?), had a huge party and burned the house down with no insurance and now have a job earning minimum wage and of your two lenders one is suggesting that in reality they will never get the money back whilst the other is suggesting that by binding you to lifetime slavery and lending you the money to make the interest payments they can pretend that the loan is not non-performing.

And now the two creditors are having a bit of a barney with one not wanting to throw more good money after the bad and trying to use leverage against the other beacuse they really don't want to make a big issue of anything prior to the 23rd June....

mwpt

michaels wrote: »

More realistic is that you have borrowed the 3m (can you really get a mansion that cheap in Winbledon?), had a huge party and burned the house down with no insurance and now have a job earning minimum wage and of your two lenders one is suggesting that in reality they will never get the money back whilst the other is suggesting that by binding you to lifetime slavery and lending you the money to make the interest payments they can pretend that the loan is not non-performing.

And now the two creditors are having a bit of a barney with one not wanting to throw more good money after the bad and trying to use leverage against the other beacuse they really don't want to make a big issue of anything prior to the 23rd June....

Yup, I'm being partly facetious. Greece's creditors do need to take some responsibility for pricing the risk incorrectly in the first place.

Sapphire

CLAPTON wrote: »

Wimbledon Common is imcomparably better that Richmond : after brexit and WW3, sea rise will wipe out richmond whilst wombles will be laughing.

In fact, the whole of Britain is tilting south-eastwards, so you can expect all of London to be underwater 'eventually' – and that's apart from flooding due to rising sea levels, which are rapidly eroding parts south-east British coasts. In fact, archaeologists are struggling to record historic (fortifications, etc.) and prehistoric (dinosaur footprints, etc.) before the sea claims them.

I wonder, too, what's going to happen to places like the Isle of Dogs, which have been concreted over and built upon, despite being areas that were constantly waterlogged and flooded in the near past – and should probably have been left to flood and soak up some of the water that now has to go elsewhere…

westernpromise

Sapphire wrote: »

In fact, the whole of Britain is tilting south-eastwards, so you can expect all of London to be underwater 'eventually' – and that's apart from flooding due to rising sea levels, which are rapidly eroding parts south-east British coasts. In fact, archaeologists are struggling to record historic (fortifications, etc.) and prehistoric (dinosaur footprints, etc.) before the sea claims them.

I wonder, too, what's going to happen to places like the Isle of Dogs, which have been concreted over and built upon, despite being areas that were constantly waterlogged and flooded in the near past – and should probably have been left to flood and soak up some of the water that now has to go elsewhere…

It's being so cheerful that keeps you going.