p*ssy must be hella cheap in Greece these days
Greece financial crisis | Latest : Deal reached with even tougher conditions for Greece.
p*ssy must be hella cheap in Greece these days
Greece, did that, so hopefully "America" wouldn't have to go thru that, oh wait
...how will everyBODY here react when shyt Hits the fan in about 5, 4, 3, 2, 1
08 Foreclosure Bust was only a precursor
...how will everyBODY here react when shyt Hits the fan in about 5, 4, 3, 2, 1
08 Foreclosure Bust was only a precursor
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The Fukin Prophecy
RIP Champ
They will be fine just like Iceland and Argentina...Greece out here crumbling like they Detroit
The initial default blow hits devastatingly hard but the Greeks will recover much after with the drachma...Assuming these fools do the right thing and leave the EU currency block...
Its a small country whose economy is completely sustainable through agriculture and tourism...
88m3
Fast Money & Foreign Objects
88m3
Fast Money & Foreign Objects
The first person I spoke to queueing for cash in Greece blamed a Rothschild-led Zionist conspiracy for the crisis
Read more: http://www.businessinsider.com/gree...iracy-for-greeces-crisis-2015-6#ixzz3eSlvLSJi
Read more: http://www.businessinsider.com/gree...iracy-for-greeces-crisis-2015-6#ixzz3eSlvLSJi
The Fukin Prophecy
RIP Champ
That's because of the currency block...
Having the ability to regulate your own currency changes things...Their debt to GDP skyrocketed when they joined the EU...That wasn't an accident or coincidence...
mbewane
Knicks: 93 til infinity
fukk Junker, the IMF, Merkel and the EU in general for this.
Domingo Halliburton
Handmade in USA
while Greece needs to have a weak currency to go along with their weak economy I'm not sure going back to the Drachma is going to be the best thing. If they issue it I bet it devalues 30-40% the first day and probably 70-80% in total. They really don't depend on exports which blows my mind because of their geography.
now you're going to have high inflation, exchange rate transaction costs, higher interest rates, higher trading costs....you could make a strong argument that they do need to get out of the Euro and turn on the printing presses but I doubt we see it in 2015
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The first person I spoke to queueing for cash in Greece blamed a Rothschild-led Zionist conspiracy for the crisis
Read more: http://www.businessinsider.com/gree...iracy-for-greeces-crisis-2015-6#ixzz3eSlvLSJi
although it's obviously not a representative sample of the greek population
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88m3
Fast Money & Foreign Objects
I might loose a thousand dollars before lunch but they lost a way of life.
I'm sorry but the scheming and conniving of the Greek government and the populace lead us here in the first place.
What do you expect to happen when they cooked the books?
The Euro seemed to adopt to local economies fairly well where I've lived and traveled.
I know Slovenia has struggled with it but that's all I know.
The Fukin Prophecy
RIP Champ
The same banker fear mongering bullshyt was said about Iceland and Argentina...How did that work out?I might loose a thousand dollars before lunch but they lost a way of life.
I'm sorry but the scheming and conniving of the Greek government and the populace lead us here in the first place.
What do you expect to happen when they cooked the books?
The Euro seemed to adopt to local economies fairly well where I've lived and traveled.
I know Slovenia has struggled with it but that's all I know.
The Greeks will go back to their old ways...Pensions will get cut just not to the unecessary extremes the troika is demanding...imports will be the biggest problem for them due to credit but they won't be starving and indebted...They will be fine...
Those invested in the failed EU block project won't survive...Bail out now while you still can...
Domingo Halliburton
Handmade in USA
not sure Argentina is the best example to use here.
88m3
Fast Money & Foreign Objects
Greece won’t make IMF debt repayment Tuesday, Greek official says
Published: June 29, 2015 12:48 p.m. ET
Reuters
A pensioner outside a branch of the National Bank of Greece on Monday.
By
NEKTARIASTAMOULI
ATHENS — Greece won’t make a debt repayment to the International Monetary Fund due Tuesday, a senior Greek government official said Monday.
Earlier this month, Greece had notified the IMF it plans to bundle its loan repayments falling due this month into one payment of around 1.6 billion euros ($1.7 billion), which is due Tuesday.
The IMF has said that Greece will immediately be in arrears if it fails to make the debt repayment.
Greece’s bailout program is due to expire Tuesday and eurozone finance ministers on Saturday rejected Greece’s request for an extension.
An expanded version of this report appears on WSJ.com
http://www.marketwatch.com/story/gr...y-greek-official-says-2015-06-29?link=sfmw_fb
Published: June 29, 2015 12:48 p.m. ET
A pensioner outside a branch of the National Bank of Greece on Monday.
By
NEKTARIASTAMOULI
ATHENS — Greece won’t make a debt repayment to the International Monetary Fund due Tuesday, a senior Greek government official said Monday.
Earlier this month, Greece had notified the IMF it plans to bundle its loan repayments falling due this month into one payment of around 1.6 billion euros ($1.7 billion), which is due Tuesday.
The IMF has said that Greece will immediately be in arrears if it fails to make the debt repayment.
Greece’s bailout program is due to expire Tuesday and eurozone finance ministers on Saturday rejected Greece’s request for an extension.
An expanded version of this report appears on WSJ.com
http://www.marketwatch.com/story/gr...y-greek-official-says-2015-06-29?link=sfmw_fb
I might loose a thousand dollars before lunch but they lost a way of life.
I'm sorry but the scheming and conniving of the Greek government and the populace lead us here in the first place.
What do you expect to happen when they cooked the books?
The Euro seemed to adopt to local economies fairly well where I've lived and traveled.
I know Slovenia has struggled with it but that's all I know.
SLO actually has actually done somewhat well but them lending to Greece fukked em up. With that said, their young and talented are leaving left and right...and some of their success can prob be attributed to Moscow
Italy had one of the hardest struggles. The conversion valuation from the Lire fukked up the whole population.
Domingo Halliburton
Handmade in USA
ECB Strikes Back: Threatens With Greek Deposit Haircut If And When ELA Found To Be "Illegal" On Wednesday
WSJ quoted a Greek official as saying that Greece will not make its IMF bond payment, the ECB struck back when Bloomberg reported that the ECB would review the legality of Greek aid should there not be a deal, i.e., on July 1 post an IMF default. According to Austrian central bank Governor and ECB member, Ewald Nowotny, on Wednesday’s governing council meeting the central bank will decide whether it can continue to provide emergency support for Greece once current bailout program expires June 30, as the Wiener Zeitung originally reported.
He added that "all legal aspects will be reviewed” and that another issue is also whether Greece support will continue beyond referendum. Perhaps somewhat needlessly he added that there are differing opinions at the ECB governing council on the issue of Greek ELA legality.
The subtext of what Nowotny just said is that absent a deal, Greek banks will have no choice but to impose a massive haircut on existing deposits, since the entire ELA will be yanked, and the Cyprus scenario would follow, one that would see existing deposits of under €120 billion, chopped off in half or probably much, more depending on the true state of Greek bank collateral.
It also goes without saying that at this point the odds of a premeditated Grexident are soaring.
More if we see it.
WSJ quoted a Greek official as saying that Greece will not make its IMF bond payment, the ECB struck back when Bloomberg reported that the ECB would review the legality of Greek aid should there not be a deal, i.e., on July 1 post an IMF default. According to Austrian central bank Governor and ECB member, Ewald Nowotny, on Wednesday’s governing council meeting the central bank will decide whether it can continue to provide emergency support for Greece once current bailout program expires June 30, as the Wiener Zeitung originally reported.
He added that "all legal aspects will be reviewed” and that another issue is also whether Greece support will continue beyond referendum. Perhaps somewhat needlessly he added that there are differing opinions at the ECB governing council on the issue of Greek ELA legality.
The subtext of what Nowotny just said is that absent a deal, Greek banks will have no choice but to impose a massive haircut on existing deposits, since the entire ELA will be yanked, and the Cyprus scenario would follow, one that would see existing deposits of under €120 billion, chopped off in half or probably much, more depending on the true state of Greek bank collateral.
It also goes without saying that at this point the odds of a premeditated Grexident are soaring.
More if we see it.