gyros
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Posts posted by gyros
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Greece is the last country since Zambia to bundle the IMF payments. That sounds about right. We should be in Africa.
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It depends if you like nerdy humor. You need to start from the first season though.
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This is what I don't get and why I have zero trust in this clown show. Tsipras will always say he's optimistic and a deal is close blah blah etc... Then he will lash out in a newspaper article on the EU. How can you do that when you claim a deal is close and how is that beneficial by lashing out the day after you act like everything is ok. Adults don't negotiate like that and how can anyone trust this guy when he backpeddles.
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Yeah but the better show is at 10 which is Silicon Valley :)
Love that show.
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First of all, we still need reforms. No more "hazardous" retirement jobs like bakers and musicians who can retire at 50 or people getting pensions that are higher than their final year salary. The pillaging has to stop.
International investment will never come with the country being operated by borderline communists. Nobody is going to start industry here only to be kicked out.
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For how bad the EU is, Greece gets more money in subsidies than it pays. Not a bad deal. The subway and new roadways all over Greece probably wouldn't have been built without the EU's help. We'd still have the antique freeways with 2.5 lanes.
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Is their a breakdown of votes by country?
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What a mess. More crime and drama added to Greece now.
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Hopefully they arrest him next. That will end his reign pretty fast.
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Unfortunately they don't even produce bicycles in Greece. Everything in Greece gets pillaged until there is nothing left. The Greek mentality is something unseen in civilized world.
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I wish they would go after the olympics next. Those guys are a real trip.
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very true gyros, however that will only be short term, people will flock to greece and invest in greece because of they value for money they'd get from their own currency being so much stronger than any greek currency, then a recovery can begin slowly, if they stay as they are then there's no hope, the EU has proved to be a disaster, its made rich countries poorer and poor countries more expensive and has never been audited, you can talk about greek corruption and incompetence until you're blue in the face but the EU has similar issues on a bigger scale.
I don't understand why investment would flock to Greece when it never flocked to Greece during the drachma. All the factories closed because of how mighty the unions are. Who would open anything up in Greece when it will turn into a nightmare.
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Pfft, never gonna happen. The economic repercussions would be too severe for the EU and worse, the loss of reputation (in their eyes) would hurt them so bad they'd be sulking about it for years. The sort of capitulation Germany wants won't happen. They need to be a bit more creative if they want to sell more austerity to the greek people.
My money is on a 3rd bailout and let the next party in power deal with the problem.
Syriza will not be there for a 3rd bailout. They've already proven to be liars.
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At the end of the day, was Greece in a better position before the Euro, say in the 1990's or now ? That is the most important question. There is no reason why Greece couldn't return to an economy of that level after a Grexit.
If that's the best they can do due to their crazy labour laws, left right crazy politics (which as Che pointed out is all such a load of s%$#!, I can't believe anyone believes in that crap these days), people taking 10 years (lol) to finish their degrees, then so be it. That's as far as the Greek economy can go. If they want to do better, then they'll have to do it off their own bat, but at least they'll have done it themselves (or not), as opposed to having EU technocrats governing the country.
Buying power will be cut in half. So that 500 Euros a month will be worth 250 Euros. Drug dealing, stealing, and prostitution will reign supreme. All fine and dandy if you want to buy Feta Cheese but won't be all fine and dandy when you need to buy medication or gasoline for your vehicle or a television or for that matter anything outside of Greece. Greece will be a Banana Republic. Corruption and theft plus monopoly money LOL. We are probably the most uncivilized country in Europe. We should just align ourselves with Africa and Central America and be done with it.
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Podemos made significant gains in local elections in Spain. Could Syriza have another radical left wing party that they could par-tay with ? Merkel, Schauble and Co. must be wondering how they can be so right and everyone else is so so wrong.
Fortunately for Merkel, the brain dead Greeks are about to fall off the face of the planet within 2 weeks if they don't decide to wake up.
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Much is assumed here which is incorrect.
Should Greece declare bankruptcy, default on loans and go back to its own currency, the entire rest of the world will NOT treat us as a pariah, refuse all trade with us, etc. That has been historically proven in case after case. Eventually, the grocer prefers to have a customer who barters than to have no customer at all.
The problem with Greeks is that they want to euro. There will be continual crises if Greece stays in a currency supplied - at cost - by foreign entities at their own pleasure. With their own currency, at least domestic salaries will be paid and the economy will pick up. With it, also tax revenue for the government.
This is a no-brainer. We need our own currency and our old markets back for our old products. What we don't need is the EU's constraints in fiscal policy and trading.
Greeks will no longer be able to afford their "toys" once this happens. No more imported anything because their buying power will be cut in half. So if they are complaining about 500 euros a month, it will be 250 euros a month when this happens. Either way, Greece is F***ED.
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Guys don't pollute this thread with mortgage stuff. This is Greek economy. Not American mortgage issues.
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Greece reminds me of someone who is stubborn and dumb. The doctor tells them to quit smoking or you will die. The Greek continues to smoke because well he's too stubborn and dumb to listen to anyone. Of course a year later he's dead. Greece and Greeks are too dumb and stubborn to wake up. No matter what happens, they did this to themselves and the ending won't be pretty. Its not about standing up and fighting. To stand up and fight you need a cause. Greeks have no cause, they are a lost people. This is what corruption from the top to bottom does to a country. Its a rotten country with rotten people.
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Right you can do that but then the creditors are the Eurozone, good luck with that. You'll be the North Korea of Europe. Nobody will want to even trade toilet paper with us. They just have to agree to the stipulations and pay every month and move on. Everyone knows the end game, so why not just face it. Running away and screaming I can't hear anything is not helping the cause.
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It would be catastrophic for the Greek people. You think we hit rock bottom, nope, we haven't. No matter what happens, the IMF is still owed $2 billion that must be paid. You can't default on them.
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I was reading an article on the IMF and basically no matter what happens, Greece will never default on the IMF. Even Argentina who defaulted paid the IMF back in full. If you don't pay them back, you will never get money from anyone except maybe a country like North Korea but they don't have any. Tsipras actually sent a letter last month threatening not to pay the IMF unless they got immediate liquidity and the IMF called their bluff and Greece paid on time. What an amateur government we have to send something like that. Some people say default but you can't default the IMF.
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We are into Mid-May and there is no plan. Tsipras keeps on repeating we are near a deal for 3 months, the Greek economy is getting worse because of the gridlock, and we are weeks from no more Euros. Since the unemployment rate is so high, pensions are providing for grown kids and their kids. What is going to happen when the Euros run out... Complete chaos. I don't understand this game of chicken. Europe isn't going to blink. They are suffocating Greece to teach them a lesson for electing the commies. You notice the Spanish Left and the Italian Left have shut up with the wild promises and are towing the line because you can't promise to give everyone a job and raises with no money. Even a little kid knows that. Greek people are something else. They don't know what the hell they want.
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This is actually a pretty good opinion piece. It seems like they are on the friends and family plan too.
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At the end of the day, the Greek people wanted Syriza, they got Syriza. Unfortunately a lot are still broke and unemployed.
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The Greek Economy Thread
in Let's talk about this
Posted
The finance books were cooked but Greece between 2002-2007 was an all out party. Everybody was spending money like crazy. Its not like a few people took advantage of the situation, it was a lot of the country. Case in point, the last time I went there I ran into this guy who worked in a Auto Body shop and he was saying that before the economy tanked he was making 4-500 euros a day. That is big money. You had everyone buying BMW's, third houses, land etc.. It was like someone gave free reign to the fat kid at the candy shop. Now the banks want the money back and of course the Greeks are crying conspiracy. Yet, they probably have a 2004 C class MB in the driveway.