Greece financial crisis | Latest : Deal reached with even tougher conditions for Greece.
at Greece acting like they have a choiceWhat's wrong with you?I am proud of the Greeks and at the same time happy to see Europe continue to fail
Brown_Pride
All Star
Asia looking stable for now. See what happens as the Sun starts it trek this way...
greek finance minister resigned 
the whole problem with Greece explained in 1 minute....
Some years ago a small rural town in Italy had a festival with a similar town in Greece.
The mayor of the Greek town visited the Italian town. When he saw the palatial mansion belonging to the Italian mayor he wondered how he could afford such a house.
The Italian said , “ you see that bridge over there? The EU gave us a grant to build a two-lane bridge but, by building a single lane bridge with traffic lights at either end - this house could be built.”
The following year the Italian visited the Greek town. He was simply amazed at the Greek mayor’s house, gold taps, marble floors, it was marvellous.
When he asked how this could be afforded , the Greek said : “you see the bridge over there?”
The Italian replied, “No?”
Some years ago a small rural town in Italy had a festival with a similar town in Greece.
The mayor of the Greek town visited the Italian town. When he saw the palatial mansion belonging to the Italian mayor he wondered how he could afford such a house.
The Italian said , “ you see that bridge over there? The EU gave us a grant to build a two-lane bridge but, by building a single lane bridge with traffic lights at either end - this house could be built.”
The following year the Italian visited the Greek town. He was simply amazed at the Greek mayor’s house, gold taps, marble floors, it was marvellous.
When he asked how this could be afforded , the Greek said : “you see the bridge over there?”
The Italian replied, “No?”
Last edited:
mbewane
Knicks: 93 til infinity
Proud of Greeks, and proud of Varoufakis too.
At this point I wouldn't mind the Euro and the EU crumbling down. I used to still believe in it, but fukk it, they've made it clear time and time again they do not care about citizens nor democracy. Terribly dissapointed in most European "leaders" choosing banks over Greeks.
I've said for the longest, it was a mistake to aim at monetary union before a political union. This is what decades of putting economy and special interests above everything have led to us. The European project, as we hoped for it, is all but dead.
At this point I wouldn't mind the Euro and the EU crumbling down. I used to still believe in it, but fukk it, they've made it clear time and time again they do not care about citizens nor democracy. Terribly dissapointed in most European "leaders" choosing banks over Greeks.
I've said for the longest, it was a mistake to aim at monetary union before a political union. This is what decades of putting economy and special interests above everything have led to us. The European project, as we hoped for it, is all but dead.
Mohammed Sindhi
a really simple admirer
Death to the EU that harms Europeans and non-Europeans.
88m3
Fast Money & Foreign Objects
Greek Government Reportedly Extending Bank Closures; Flamboyant Finance Minister Resigns
By Beth Ethier
Greek Finance Minister Yanis Varoufakis arrives on his motorcycle for a cabinet meeting at the Prime Minister's office in Athens on June 20, 2015.
Photo by ANGELOS TZORTZINIS/AFP/Getty Images
Reuters was reporting on Monday that Greek authorites will extend the bank closures, which were set to be lifted Tuesday, across the country. The government of Prime Minister Alexis Tsipras has not yet commented on the possibility that banks will not reopen as promised.
As Tsipras seeks to restart negotiations with the country's creditors following Sunday's national referendum rejecting European bailout terms, he has made at least one concession that seems aimed at appeasing his critics in the wider European community: Greece's Finance Minister Yanis Varoufakis, known for his unflinching opposition to the bailout's austerity measures, announced his resignation Monday.
Varoufakis described his departure in a post on his personal blog titled "Minister No More!"
Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted "partners," for my "absence" from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.
I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday's referendum.
And I shall wear the creditors' loathing with pride.
We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.
The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.
Varoufakis, an economist who spent decades in academia before being elected to the Greek parliament last January, became known during his short tenure not only for the far-left views he expressed freely in the press and on his active Twitter feed, but also for the aversion to neckties and tucked-in shirts that left him looking decidedly more casual than the world leaders he was photographed with. His balding head and leather jacket led the host of one German political show to compare him to Bruce Willis.
Varoufakis is expected to be replaced by Euclid Tsakalotos, who is seen as one of the more moderate members of Tsipras's Syriza party but is evidently not without controversy himself:
The Guardian noted the ill effects of the referendum result as world financial markets opened, with investors across Asia feeling a jolt.
Share prices were sent tumbling across the Asia-Pacific on Monday after Greece’s resounding no vote in the weekend’s bailout referendum raised fears it could be forced to exit the eurozone.
While significant losses had not descended into regional turmoil as Asian markets prepared to close, analysts warned of more trouble ahead depending on the outcome of crisis meetings of European leaders later on Monday and on Tuesday.
European markets had also showed declines Monday, with Germany's DAX falling 1.5% and the French CAC down nearly two percent by midday.
Prime Minister Tsipras reportedly called Russian Prime Minster Vladimir Putin to discuss "cooperation" between their countries following the No vote but not, the Kremlin insists, to ask for a Russian rescue package. With French President Francois Hollande meeting Monday with German Chancellor Angela Merkel and an urgentsummit set for Tuesday, it appears Greece's outgoing finance minister is right that the country is "just beginning" to square the result of Sunday's No vote with the rest of the world.
http://www.slate.com/blogs/the_slat...001&utm_medium=trueAnthem&utm_source=facebook
By Beth Ethier
Greek Finance Minister Yanis Varoufakis arrives on his motorcycle for a cabinet meeting at the Prime Minister's office in Athens on June 20, 2015.
Photo by ANGELOS TZORTZINIS/AFP/Getty Images
Reuters was reporting on Monday that Greek authorites will extend the bank closures, which were set to be lifted Tuesday, across the country. The government of Prime Minister Alexis Tsipras has not yet commented on the possibility that banks will not reopen as promised.
As Tsipras seeks to restart negotiations with the country's creditors following Sunday's national referendum rejecting European bailout terms, he has made at least one concession that seems aimed at appeasing his critics in the wider European community: Greece's Finance Minister Yanis Varoufakis, known for his unflinching opposition to the bailout's austerity measures, announced his resignation Monday.
Varoufakis described his departure in a post on his personal blog titled "Minister No More!"
Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted "partners," for my "absence" from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.
I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday's referendum.
And I shall wear the creditors' loathing with pride.
We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.
The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.
Varoufakis, an economist who spent decades in academia before being elected to the Greek parliament last January, became known during his short tenure not only for the far-left views he expressed freely in the press and on his active Twitter feed, but also for the aversion to neckties and tucked-in shirts that left him looking decidedly more casual than the world leaders he was photographed with. His balding head and leather jacket led the host of one German political show to compare him to Bruce Willis.
Varoufakis is expected to be replaced by Euclid Tsakalotos, who is seen as one of the more moderate members of Tsipras's Syriza party but is evidently not without controversy himself:
The Guardian noted the ill effects of the referendum result as world financial markets opened, with investors across Asia feeling a jolt.
Share prices were sent tumbling across the Asia-Pacific on Monday after Greece’s resounding no vote in the weekend’s bailout referendum raised fears it could be forced to exit the eurozone.
While significant losses had not descended into regional turmoil as Asian markets prepared to close, analysts warned of more trouble ahead depending on the outcome of crisis meetings of European leaders later on Monday and on Tuesday.
European markets had also showed declines Monday, with Germany's DAX falling 1.5% and the French CAC down nearly two percent by midday.
Prime Minister Tsipras reportedly called Russian Prime Minster Vladimir Putin to discuss "cooperation" between their countries following the No vote but not, the Kremlin insists, to ask for a Russian rescue package. With French President Francois Hollande meeting Monday with German Chancellor Angela Merkel and an urgentsummit set for Tuesday, it appears Greece's outgoing finance minister is right that the country is "just beginning" to square the result of Sunday's No vote with the rest of the world.
http://www.slate.com/blogs/the_slat...001&utm_medium=trueAnthem&utm_source=facebook
fukk Off
mbewane
Knicks: 93 til infinity
All of this can be linked back to the 2004 expansion imo. That move made the EU dilute instead of consolidating the institutions. Eastern countries (for various reasons) were much more aligned with neo-liberal policies and Washington in general, trying to move as far away from the influence of Moscow as they could. They were also much less interested by non-economical aspects of the EU. Going from 15 to 20+ countries was gonna be hard regardless, but those particular countries mostly had a very different approach to what the EU should be. As opposed to old EU countries who had been used to working together for decades and who knew more of each other, and that wanted to build a federation that could rival the US, Eastern countries were far more pro-US and liberal than Western countries, a result of the trauma they experiences under communist rule, and mostly saw the EU as a free market only (which is why GB and the US were among the biggest supporters of expansion to the East).
We lost, imo, by wanting to grow too fast.
We lost, imo, by wanting to grow too fast.
Greece needs to suffer 