Topic: If Greece defaults - page 12. (Read 45224 times)

We all know very well the U.S AND EUROZONE want to topple Tsipras and SYRIZA and so they are using everything in their power, including the mass media to do so..He will not stay around if the peeps vote YES and he categorically said so.. The corporate agenda is way too powerful and the people are way too fickle. They said in pre election mode no Troika but they are too scared to take their fate into their own hands and reshape their country, they feel safer being fed on a drip by the EU Bosses, shame really... I wouldn't be surprised the other agenda is to create chaos and another civil war in Greece. I just pray and hope the Greek people grow some b*lls like TSIPRAS and vote no and be prepared to DO SOMETHING FOR THEIR COUNTRY..I hear rarely of any rich Greeks coming to the aid of their country asking HOW CAN WE SERVE GREECE AND IT'S PEOPLE AT THIS TIME?

if I was greece citizen, id be so mad.

how is anyone supposed to get a larger sum if you are a business in general, id leave in a heart beat if this ever happened to me.

Okay, what makes you think greece wont default? lol.

They been defaulting for quite some time, and they been in the hold forever so whats the sudden change that will make them different?

I think this is exactly right.  The troika will pull out all the stops to defeat Tsipras and it seems like they have already softened a little bit.

Still shocked that there wasn't a last minute agreement.  What is really interesting is that Greece may be better off out of the Euro after a couple of years as they wont have to deal with an internal devaluation, but until then, big mess.

50% of your wealth woah! I guess it depends where abouts you are in life. If you still live with your parents maybe, but if you've got dependants, that's a whole lot of risk.

I would personally put half of my wealth into BTC... considering how risky it is, it's way less risky than a lot of other options right now, specially if you want to make gains and not only keep your wealth at a more or less same 1:1 ratio. That could be done with Gold, but its too boring. BTC is way more exciting.

I was one week early.

I consider little chance of success for greece to overcome the problems since there is no will for doing it.

 Greeks will be restricted to taking out just €60 per day for the next week, and that banks won’t reopen until July 7 -- two days after the referendum has been held.

On the day of the referendum, the troika will dangle some carrot in front of all the Greeks, and the latter will vote "YES". All the mainstream parties are supporting a YES vote, including the ND, To Potami, PASOK, and KIDISO. The KKE (Greek Communist Paty) is yet to reveal its position. It is the radicalist parties, which are supporting the NO vote, such as the SYRIZA (extreme-left), Golden Dawn (extreme-right), and the ANEL (right-wing populist).

This morning I read the English version of a Greek newspaper which says 47% will vote with Yes, 36% with No and 17% have not decided yet. So, it could become a close run.

Which will be the answer of the Greece to the referendum? I bet that they will choose to not accept the conditions of the IMF and ECB an Europeans countries...

Who can imagine the end after this? It will be not like wanted John Lennon.

A real, non-trolling newbie with the right attitude. How special. I like it.

But 10 bro, the price is only going up from here, the geo political situation is inside a pit right now, markets are crashing soon, and bitcoin will go up!

Some great comments here.  I think I am gonna go ahead and buy a bitcoin.  I notice the price is already back up at this point. 

Like qiwoman2 said,  I believe the Greeks have problems with money management.  But, I think the people of the US are similar to the Greeks,  Greece can't mess with their currency like the US can.  Monday will be interesting at the banks in Greece.

I don't know if there will be any capital control sheering like there was here in Cyprus..but a complete re education of the populace has to take place. Most people have no clue about money management and there in lays the problem. They are just fed by the mass media with their nasty agendas and have no clue about economics and how these economic systems in place are put there to deliberately impoverish generation by generation till they are complete slaves...Only now the Greeks are waking up to this but taking all their money out of ATMS is not what is going to set them free.. Re aligning their realities and thought processes with a healthier economic system is the only way to get ultimate freedom. If they are still hooked up in this matrix economic system of boom and bust, they will be like hamsters in a cage, just going round and round until they drop.  Greeks should be looking to create a resource based and cooperative economy which would automatically lift millions out of poverty.. I am surprised no one there has yet thought of this. We have enough land to feed the Greek population ten times over and do exports.

Eco and sustainable homes cost between 10-20k max to build, far more affordable..using the Kibbutz system or something similar there in the villages and even in the cities would catapult the Greek economy to new heights.

I suppose I could google this ..but I am pretty sure at least in the past other countries have said their national currency was the USA dollar...thus my question.....I'd just say
screw you ...the Euro is still the currency of the country and let the rest of Europe 'eat some of this loss' on the devaluation of the Euro

unless by doing their own currency they can play some kinda game which devalues it by half or some such on its re-launch as the greek currency.thus wiping out 1/2 their
debt by some such trick

(confused)

edit: found this all it says to me is "It would be bad" so still confused

http://www.telegraph.co.uk/finance/economics/11511457/What-happens-if-Greece-defaults-to-the-International-Monetary-Fund.html


ie lots of yelling at Greece being "bad" etc


http://www.cnbc.com/id/102584164

So I guess what it means that on paper Greece is 'completely broke' and owes 'such and such' and can't pay it back...and as a result of being 'broke' and defaulted
we are now gonna devalue your economy by 50% more so that you are even MORE broke ...at least on paper.....so it is like all the thrills of a 17th century debtor's prison

you can default now completely and have a crash and burn and somehow build your economy back in the future  and just from that consequence certain programs
the gov't provided etc are trashed .....

or

you can pass on endless debt from now to the foreseeable future with those same government programs trashed (pensions etc) by the EU
...and dig a bigger hole for the next generation..and still it all can crash and burn ...if the economy does not recover enough to pay back the bankers etc

hell at this rate Russia will come along say it will assume SOME significant part of  Greek debt if it become part of the Russian Economic Union...whatever they call that... (hell it is what I'd do if I was Russia) all that access to Mediterranean ports for the military ....and such a PR coup........sh*t


oh boy lets bring the 4 horseman of the apocalypse into this also  ...just to round everything out (ouch!)

http://www.independent.ie/opinion/comment/beware-the-four-horsemen-circling-europe-greece-russia-migrants-and-brexit-31331358.html



off to do more.... google to be more be confused (well rounded I will be confused by fiat as well as crypto)

€1 billion is still a relatively small amount, and represents only a small fraction of the total Greek savings (at 2014 level). Compare that to the €11 billion which was stolen from the depositors by the troika during the Cyprus haircut (and the population of Cyprus is less than 1/10th of that of Greece). I think that most of the Greeks had already withdrawn their savings from the banks.

Someone please correct me if I'm wrong but I believe you are right. If they default I understand that will lead to Greece leaving the Euro (aka Grexit) and they will return to their own locally issued currency.

well IF Greece defaults on the stuff....what is the plan

does the Greek Gov't announce the return of their Drachma(?) currency (I think it is called)

or do they simply keep using the Euro currency as their main currency and ride it down with the rest of the EU with such a Greek default annoucement?

(If I was Greek Gov't I'd still say the Euro was the currency of Greece....not much the EU could do about that I'd imagine)

feel free to tell me I don't know wtf I'm talking about ...but am mystified on what happens after they default (short term and/or long term)