Greece...

wellused

Although this isn't a reflection of the financial crisis in Greece I was on holiday there last week and found the people to be unstressed, the shops to be gearing up for the summer holiday rush, businesses quite happy to give receipts for goods sold, even the holiday tourist mini train driver had an electronic machine for issuing receipts. The prices in the shops were very reasonable too, in short if Zakinthos is anything to go by it’s business as usual and the Greek people will be very happy to welcome you there this summer.

vivatifosi

Greece cannot afford IMF debt repayment:

http://www.bbc.co.uk/news/business-32864068

mystic_trev

Yanis Varoufakis said Greece had worked hard to meet its end of the deal with its lenders, and that now it was up to the international institutions to reciprocate.

"Greece has made enormous strides at reaching a deal," he told the Andrew Marr Show.

"It is now up to institutions to do their bit. We have met them three-quarters of the way, they need to meet us one-quarter of the way."

I think Greece may have backed themselves into a corner they won't be able to get out from, bearing in mind the results in todays Spanish Elections.

http://www.bbc.co.uk/news/world-europe-32871610

Graham_Devon

vivatifosi wrote: »

Greece cannot afford IMF debt repayment:

http://www.bbc.co.uk/news/business-32864068

That's alright.

Just give them another loan to repay the loan.

Job's a goodun for 3 months.

chiefie

The eurozone did not do sufficient due diligence on Greece. Perhaps they wanted them in regardless f the costs.

globalds

The Greeks need to work hard on failing this months payment ..If I was Greece and was going to default ..June would be my perfect month ..A whole season of holidaymakers spending foreign currency in my new Drachma

wymondham

is this really coming to a head or will we hear about another last minute 'deal' to solve the problem, only to revisit it in another months time....??

antrobus

globalds wrote: »

....A whole season of holidaymakers spending foreign currency in my new Drachma

I believe the point would be is that you would getting a whole lot less foreign currency for your 'new Drachma' than you would have done for your 'old Euro'.

That is not necessarily a good thing.:)

Froggitt

chiefie wrote: »

The eurozone did not do sufficient due diligence on Greece. Perhaps they wanted them in regardless f the costs.

And now they pay the price. How many billions of €€€€ of loans to be defaulted on?

wymondham

is this all a good example of "Creative Accounting"?