Greece financial crisis | Latest : Deal reached with even tougher conditions for Greece.

[The Fukin Prophecy]

I heard some wonk say a new Drachma would probably be valued at 25-50% of the Euro.

Somewhere in between 25-50% sounds right if they want to be competitive again... Anything close to 75% or over they're fukking themselves...

 

[krackdagawd]

They are saving it. They're making those fakkits eat the debt and theres nothing they can do about it.

@krackdagawd Drop that ward smiley

:sog:

 

[88m3]

Greece Is Cutting Off Its Citizens From Using PayPal and Buying Songs on iTunes
http://www.slate.com/blogs/business...s_and_individuals_in_greece.html?wpsrc=fol_fb

 

[Domingo Halliburton]

Obama is pushing for a debt haircut

 

[NkrumahWasRight Is Wrong]

appease germany brehs

 

[Domingo Halliburton]

From WSJ:

Ms. Merkel’s power after a decade in office has become seemingly untouchable, both within Germany and across Europe. But with the “no” vote in Sunday’s Greek referendum on bailout terms posing the biggest challenge yet to decades of European integration, risks to the European project resulting from Germany’s rise as the Continent’s most powerful country are becoming clear.

On Friday, Spanish anti-austerity leader Pablo Iglesias urged his countrymen: “We don’t want to be a German colony.” On Sunday, after Greece’s result became clear, Italian populist Beppe Grillo said, “Now Merkel and bankers will have food for thought.” On Monday, Ms. Merkel flew to Paris for crisis talks amid signs the French government was resisting Berlin’s hard line on Greece.

“What is happening now is a defeat for Germany, especially, far more than for any other country,” said Marcel Fratzscher, head of the German Institute for Economic Research, a leading Berlin think tank. “Germany has, at the end of the day, helped determine most of the European decisions of the last five years.”

...
In Greece last week, it was the stern face of 72-year-old German Finance Minister Wolfgang Schäuble that appeared on some of the posters urging voters to reject Europe’s bailout offer.“He’s been sucking your blood for five years—now tell him NO,” the posters said.

“They want to humiliate Greece to send a warning to Spain, Portugal and Italy,”Hilario Montero, a pensioner at a pro-Greece demonstration in Madrid recently, said of Berlin and Brussels. “The message is you are not allowed to cross the lines they set.”

And she is left stuck between a rock and hard place...

“Germany is in this hegemonic role in Europe because we have no relevant right-wing populist parties,” Mr. Münkler said.

That is why Europe’s current showdown with Greece is critical for the future of Germany’s place in Europe, analysts say.

If Ms. Merkel approves a new lifeline for Athens after weeks of vitriolic debate, she is likely to face a furor from Germany’s right and stoke the country’s incipient euroskeptic movement.

If Greece careens out of the euro, Ms. Merkel will face blame for an episode that has further polarized Europe at a time when controversies over the U.K.’s EU membership and how to treat migrants and refugees are adding to the tensions wrought by the Ukraine crisis.

Claudia Major, a security specialist at the German Institute for International and Security Affairs, said: “If Greece were to leave the eurozone, this may someday be seen as the beginning of the end of the project of European integration—when the Germans were not in the position, as the leading power in shaping Europe, to be able to resolve things with the Greeks.”

* * *

With every crisis in which Ms. Merkel acts as the Continent’s go-to problem solver, the message to many other Europeans is that for all the lip service about the common “European project,” it is the Germans and faceless bureaucrats in Brussels who run the show.

The pushback against German power in Europe is likely to grow if the eurozone crisis worsens or if Berlin’s policies grow more assertive.

 

[Domingo Halliburton]

Tsipras said he's willing to take a look at new reforms for a deal. They owe the ECB a bunch of money on July 20.

Euro zone finance ministers are open to the idea of "reprofiling" some of Greece's sovereign debt: Irish FinMin

GREECE OFFL: CANT GET DEAL IN 24 HRS BUT CAN SEND SIGNAL: MNI

FRENCH OFFICIAL: BRIDGE FINANCE ONLY POSSIBLE WITH FULL PROGRAM; FRENCH OFFICIAL SAYS NEW GREEK PROGRAM COULD GO 2-3 YEARS

Don't get your hopes up yet that this is over:

Greece will submit a new aid proposal to European creditors "maybe" on Wednesday, euro zone officials said, with Athens' European partners convening in Brussels for emergency talks.

However, the government's latest proposals differ only slightly from previous versions, German media reported.

 

[☑︎#VoteDemocrat]

Greece Is Cutting Off Its Citizens From Using PayPal and Buying Songs on iTunes
http://www.slate.com/blogs/business...s_and_individuals_in_greece.html?wpsrc=fol_fb

 

[88m3]

I think we're seeing a lot more positive wording from the media than is warranted.

 

[☑︎#VoteDemocrat]

I think we're seeing a lot more positive wording from the media than is warranted.

they have no idea WTF is going on

 

[88m3]

Anxious Greeks Buy Macs and PlayStations While They Still Can
http://www.bloomberg.com/news/artic...uy-macs-and-playstations-while-they-still-can

 

[ill]

@Domingo Halliburton If Greece says fukk the EU and bails, how cheap will it be to go visit Greece? Their currency will tank right? I've always wanted to check out Santoori...if I can do it for pennies on the dollar, even better

 

[Domingo Halliburton]

@Domingo Halliburton If Greece says fukk the EU and bails, how cheap will it be to go visit Greece? Their currency will tank right? I've always wanted to check out Santoori...if I can do it for pennies on the dollar, even better

it will go down pretty hard. I commented in here already i heard some economist saying it would probably be 25-50% of the euro. Good for tourists, bad for Greeks trying to buy all the shyt they import.

 

[ill]

it will go down pretty hard. I commented in here already i heard some economist saying it would probably be 25-50% of the euro. Good for tourists, bad for Greeks trying to buy all the shyt they import.

My bad I didn't even read above posts.


Damn looks like I'm getting the private villa if the drachma really drops that much.

 

[Scientific Playa]

cliffs, the 'too big to fail' crew is in the mix

How Greece was robbed by the bankers

http://www.hangthebankers.com/how-greece-was-robbed-by-the-bankers/