Greece...

BlondeHeadOn

I should add: the zerohedge.com website does not exactly seem like a crucible of reasoned debate and measured reporting....


... but even so the Russian comment surprised me.

Graham_Devon

So.... Greece compromised on the plans. Now Germany has overstepped the EU etc and stated they will not sign up to what was, it seems, earlier agreed.

Germany seems to have overstepped the mark here, somewhat forgetting others have a say. Though it seems they no longer have time for democracy. Others are suggesting they never wanted Greece to accept the deal, rather they wanted them to decline the deal so that it was all the Greeks fault....

Greece are now saying they will not back down any further. (news from 20 mins ago at time of writing this). There is no point in them compromising, they don't have the means to carry out what Germany is demanding.

Even the BBC and Sky News appear to have sympathy for Greece now.

So, what will happen tomorrow? Anyone fancy guessing?!

mystic_trev

Graham_Devon wrote: »

So, what will happen tomorrow? Anyone fancy guessing?!

They're now well into extra time and it looks like it'll go to Penalties. We all know what the result will be when Germany are in that situation!;)

Thrugelmir

michaels wrote: »

No wonder the ECB kicked the can a bit this morning with more liquidity for the Greek banks as they are presumably the ones with this debt on their books.

The ECB has a mandate to maintain financial stability in the banking system. Any decision will therefore be non political.

Gangaweed

Thrugelmir wrote: »

The ECB has a mandate to maintain financial stability in the banking system. Any decision will therefore be non political.

Withdrawing liquidity for Greek banks isn't exactly maintaining stability...

Thrugelmir

Gangaweed wrote: »

Withdrawing liquidity for Greek banks isn't exactly maintaining stability...

The Greek banks will continue to operate in a normal fashion day to day.

When Lloyds was rushed into a shot gun marriage with HBOS. The BOE provided a short term loan of £25 billion for 3 months to prevent HBOS going the way of NRAM. These events happen more often than one imagines.

antrobus

Graham_Devon wrote: »

.... Now Germany has overstepped the EU etc and stated they will not sign up to what was, it seems, earlier agreed ...

Isn't it more the case that it is Greece that has "overstepped the EU etc and stated they will not sign up to what was, it seems, earlier agreed", with the notable exception that there is no "seems" about it, as the details of the bailout deals that they previously agreed to are there in black and white?:)

mystic_trev

Greece sent "wrong letter" on Thursday – Bild

You couldn’t make this up. Apparently, Greece sent the wrong letter on Thursday, German newspaper Bild reports, citing government sources.

The right version supposedly accepted bailout conditions agreed to by the previous Greek government.

According to the report, Tsipras, Juncker and Dijsselbloem jointly drafted a letter on Wednesday. However, Greek finance minister Yanis Varoufakis sent an altered version of the letter that omitted the parts that said Greece will accept the bailout conditions agreed to by the previous government.

Tsipras later told Merkel it was an “administrative mistake.”

The Eurogroup meeting is supposed to start any moment now.

What a joke! If true the Greek Public won't like that.

Cyberman60

BlondeHeadOn wrote: »

I've just looked at that zerohedge.com link, and in the comments it is suggested that Greece doesn't have to exit the euro but could just start using roubles as well instead - and effectively thus become 'allied' (?) with Russia as a kind of Putin back door takeover plan.


!!!!!!?

Now THAT had not even occurred to me - does anyone think this is a real possibility?

Well, Cambodia uses two currencies, the Riel and the US Dollar.

Graham_Devon

antrobus wrote: »

Isn't it more the case that it is Greece that has "overstepped the EU etc and stated they will not sign up to what was, it seems, earlier agreed", with the notable exception that there is no "seems" about it, as the details of the bailout deals that they previously agreed to are there in black and white?:)

That was signed under a previous government.

It may have passed you by, but the Greeks have recently elected a new government. One which their primary aim was to revert the previous deals.