A new dawn - the post bail-out Greece thread.

Generali

Dansmam wrote: »

Comes down to fundamentals. If I can help you I will. And trust you to help me when I need help. It's not socialism it's being a decent human being. Where are the good people on this thread?

The best thing that could happen to Greece is a properly managed default, assisted by the IMF.

It is an absolute disgrace that a sovereign Government isn't allowed to default on debts it can't afford.

MS1950

Mistermeaner wrote: »

The only way is up

http://www.bbc.co.uk/news/business-33754005

So the Greek stockmarket opens today, with shares expected to drop 20% on opening admist fears about Greeces economy.

A buying opportunity or stay well away?

I'm more concerned about the possibility of a 'Golden Dawn' as a result of the EU and IMF actions:

https://en.wikipedia.org/wiki/Golden_Dawn_%28political_party%29

Generali

MS1950 wrote: »

I'm more concerned about the possibility of a 'Golden Dawn' as a result of the EU and IMF actions:

https://en.wikipedia.org/wiki/Golden_Dawn_%28political_party%29

TBH I wouldn't blame the IMF for this; they got suckered in.

The IMF rules are normally very simple:

- Organise the default
- Lend money to the Government/banking system to enable an economic recovery
- As a result become preferred creditors, i.e. get paid first

The Germans, AIUI, wanted to use the expertise of the IMF without being subject to their rules. That really has led to this FUBAR'd situation.