If Greece defaults - page 18. | Bitcointalksearch.org

Marbit

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Quote from: bryant.coleman on June 17, 2015, 10:34:39 AM

Quote from: ?? on ??

How many "deals" have we already had with Greece? Insanity is doing the same thing and expecting different results.

Well... none of the deals have helped them much. Give them some significant concessions (such as lowering the interest rates), and then see the results. Right now, the troika is hell bent on destroying the Greek economy. Just tell me how is it possible to make a debt payment of € 8 billion per year, when the tax revenue is much lower than that amount?

I believe if the things are not going your way, then go back to your roots and start over from there. Greece should do the same. They can boost their by focusing on sector by sector and not by going all over it at the same time.

kencoles

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Quote from: Sethtabiah on June 17, 2015, 11:34:42 AM

Kick the ~Greece out from the EU .They lied to join the EZ , and they should not be trusted again with a Golden Credit Card again.

Eastern Europeans live on far less than they do.

A pensioner in Bulgaria gets half of what a Greek pensioner gets in Greece right now.

Have you seen the Bulgarians asking for more ? If the Bulgarians can live without borrowing money, so the Greeks can do.

Most of Eastern Europe are copying the Germans, no credit cards.

The controls on Greece should have been in position from day one.The EU threw money at Greece for years.They never reformed and wont be reforming now.They will never be fit for the EU and many nations in Europe are not fit for the EU the only nation fit for the EU is Germany so it should leave and reintroduce the EU mark as its currency.U wait and see the EU will break up the peoples power will ultimately win through and the corrupt and stupid politicians will lose. its all happened before Hitlers 100 year Reich lasted 13 years so the EU has already done very well indeed.

josephliton

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Quote from: Sethtabiah on June 17, 2015, 11:34:42 AM

Kick the ~Greece out from the EU .They lied to join the EZ , and they should not be trusted again with a Golden Credit Card again.

Eastern Europeans live on far less than they do.

A pensioner in Bulgaria gets half of what a Greek pensioner gets in Greece right now.

Have you seen the Bulgarians asking for more ? If the Bulgarians can live without borrowing money, so the Greeks can do.

Most of Eastern Europe are copying the Germans, no credit cards.

Wrong, They deserve whatever they want and will do whatever they need to do to get it.

Sethtabiah

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Kick the ~Greece out from the EU .They lied to join the EZ , and they should not be trusted again with a Golden Credit Card again.

Eastern Europeans live on far less than they do.

A pensioner in Bulgaria gets half of what a Greek pensioner gets in Greece right now.

Have you seen the Bulgarians asking for more ? If the Bulgarians can live without borrowing money, so the Greeks can do.

Most of Eastern Europe are copying the Germans, no credit cards.

josephliton

hero member

Activity: 644

Merit: 500

Quote from: mikaljan on June 17, 2015, 11:31:05 AM

Quote

The European Commission has a responsibility to sustain the EU Manufacturing economies.

They have given away this critical segment of the economy to Asean countries.
The EU is responsible for its own Bankruptcies. It will continue unless the EU Bureaucrats are sacked.

Greece needs to be out of the stifling Euro currency to survive.

Some people say the Greeks are lazy, they want something for nothing, they're slippery backstabbers, crooks, blackmailers, untrustworthy and I say to them, maybe they are right, but at least they are still Greek through and through.

So what. People are more important then money. We will say anything you want to hear as long as the money keeps flowing.

mikaljan

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Quote

The European Commission has a responsibility to sustain the EU Manufacturing economies.

They have given away this critical segment of the economy to Asean countries.
The EU is responsible for its own Bankruptcies. It will continue unless the EU Bureaucrats are sacked.

Greece needs to be out of the stifling Euro currency to survive.

Some people say the Greeks are lazy, they want something for nothing, they're slippery backstabbers, crooks, blackmailers, untrustworthy and I say to them, maybe they are right, but at least they are still Greek through and through.

josephliton

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Quote from: JackH on April 07, 2015, 01:55:01 PM

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

The European Commission has a responsibility to sustain the EU Manufacturing economies.

They have given away this critical segment of the economy to Asean countries.
The EU is responsible for its own Bankruptcies. It will continue unless the EU Bureaucrats are sacked.

Greece needs to be out of the stifling Euro currency to survive.

bryant.coleman

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Quote from: ?? on ??

How many "deals" have we already had with Greece? Insanity is doing the same thing and expecting different results.

Well... none of the deals have helped them much. Give them some significant concessions (such as lowering the interest rates), and then see the results. Right now, the troika is hell bent on destroying the Greek economy. Just tell me how is it possible to make a debt payment of € 8 billion per year, when the tax revenue is much lower than that amount?

deisik

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Quote from: JackH on June 17, 2015, 05:59:13 AM

All while Bitcoin has gone up 10% the past 3 days. If they bust, prepare to see a complete and utter loss in the confidence of the fiat/bank sector once again. If it gets bigger than Lehman, Bitcoin will be poised to grab a big chunk of the markets. In desperate times, people will always resort to alternative methods.

Wishful thinking as it is. People will most certainly run for dollar and precious metals as a safe haven. Although a new pump (but nothing more than that) may well happen in Bitcoin (which would be nice per se)...

JackH

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Its getting close now. Talks are breaking down at every meeting. The last breakdown was between finance ministers last Sunday.

Apparently the "final chance" is going to be tomorrow (from the writing of this post), when finance ministers will once again meet.

At the same time, two payments are missed this month, with a third coming up in 2 days.

And some more news hitting the Guardian as we speak: http://www.theguardian.com/business/live/2015/jun/17/greek-crisis-austria-default-ecb-banks-live

All while Bitcoin has gone up 10% the past 3 days. If they bust, prepare to see a complete and utter loss in the confidence of the fiat/bank sector once again. If it gets bigger than Lehman, Bitcoin will be poised to grab a big chunk of the markets. In desperate times, people will always resort to alternative methods.

bryant.coleman

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Quote from: manselr on June 16, 2015, 11:16:20 AM

Since this has been going on for 5+ years the Greek strategy has been to wear-down their lenders with bullshit until they finally are so frustrated they cave-in and say go ahead and do what you want with the money ... see how well that has worked!

The Greeks should have kick-started their austerity measures in 2009, when the global recession was at its peak. But rather than introducing the austerity measures and cutting back on expenses, the two governing parties (ND and PASOK) tried to win the elections by offering more and more freebies to the general population.

Gronthaing

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Quote from: Anony on June 16, 2015, 08:30:45 AM

Quote from: yayayo on June 16, 2015, 04:52:07 AM

Quote from: V for Varoufakis on June 16, 2015, 04:01:56 AM

Soon the europeans mother fuckers will take their lesson from communists.

Yeah, it will get very ugly for the Greek people. Communists tend to be economically illiterate and love to use collective coercion to hide this.

People in Greece will soon feel the catastrophic results of their vote. Of course, they will blame others for their misery.

ya.ya.yo!

What voting for someone has got to do with the failling economy? This is not the result of a new government. This is the result of the whole policy being following since so many years. And it is the same case in every other country which is facing economic crisis.

Not only that. But syriza isn't even communist. What they proposed so far is barely socialist at all.

Quote from: manselr on June 16, 2015, 11:16:20 AM

Quote from: countryfree on June 13, 2015, 12:50:55 PM

At least, we're getting closer to a solution. I'm really fed up with Greece's problems making top headlines news. Every month, it's the same story with the country on verge of bankruptcy because it's unable to pay its debts. This just cannot go on for years. When there's a problem between a bank and an individual, the matter is settled much quicker.

Since this has been going on for 5+ years the Greek strategy has been to wear-down their lenders with bullshit until they finally are so frustrated they cave-in and say go ahead and do what you want with the money ... see how well that has worked!

That's not true. Previous governments were applying austerity measures. From when they were told their economy would contract by 2% at most up until it contracted by 20 some %. Still had a lot of corruption and tax evasion though. The current government has been fighting tax evasion and corruption more. But is trying to avoid even more austerity which would cause even more problems. It's the conditions imposed on Greece that make no sense.

manselr

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Quote from: countryfree on June 13, 2015, 12:50:55 PM

At least, we're getting closer to a solution. I'm really fed up with Greece's problems making top headlines news. Every month, it's the same story with the country on verge of bankruptcy because it's unable to pay its debts. This just cannot go on for years. When there's a problem between a bank and an individual, the matter is settled much quicker.

Since this has been going on for 5+ years the Greek strategy has been to wear-down their lenders with bullshit until they finally are so frustrated they cave-in and say go ahead and do what you want with the money ... see how well that has worked!

bryant.coleman

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Quote from: deisik on June 15, 2015, 05:26:59 AM

It is not certain at all. Why think so narrowly? They could easily ask Russians (or China) for a credit line (which they probably already did), and then lease an island (or two, for either country) for the same 50 years or so...

I am not sure whether Greece can lease out its islands to non-EU nations such as Russia or China, as it is a NATO member. Doing so will almost certainly result in Greece being expelled from the NATO, and from the EU. They might be able to lease their islands to private individuals, but other than that they can't do much.

Anony

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Quote from: yayayo on June 16, 2015, 04:52:07 AM

Quote from: V for Varoufakis on June 16, 2015, 04:01:56 AM

Soon the europeans mother fuckers will take their lesson from communists.

Yeah, it will get very ugly for the Greek people. Communists tend to be economically illiterate and love to use collective coercion to hide this.

People in Greece will soon feel the catastrophic results of their vote. Of course, they will blame others for their misery.

ya.ya.yo!

What voting for someone has got to do with the failling economy? This is not the result of a new government. This is the result of the whole policy being following since so many years. And it is the same case in every other country which is facing economic crisis.

yayayo

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Quote from: V for Varoufakis on June 16, 2015, 04:01:56 AM

Soon the europeans mother fuckers will take their lesson from communists.

Yeah, it will get very ugly for the Greek people. Communists tend to be economically illiterate and love to use collective coercion to hide this.

People in Greece will soon feel the catastrophic results of their vote. Of course, they will blame others for their misery.

ya.ya.yo!

V for Varoufakis

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Soon the europeans mother fuckers will take their lesson from communists.

Searing

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Clueless!

nothing much will happen imho they will just spend years kicking the can down the road from crisis to crisis imho ...look at Japan's problems
in the past..they managed to lurch along I expect the same from Greece

better a little loss to the bankers year by year then a huge hit if it all goes pear shaped imho is what they are thinking

(death from the little paper cuts so to speak)

Anony

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Quote from: JackH on April 07, 2015, 01:55:01 PM

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

That would be huge. I have been reading news about Greece that its economy has fallen in great numbers. I do not understand where does all the money vanishes. All my logic says, that the money will go from one hand to another. But it has been a magic trick, that it leaves one hand but never gets received on the other one. Once the European countries were considered to be the richest in whole world and now almost all of them are going through financial crisis.

deisik

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Quote from: bryant.coleman on June 14, 2015, 10:39:05 PM

Made some calculations. For the next 50 years or so, the Greeks should pay the troika somewhere around €7 billion to €10 billion every year. And the potential revenues from the Turkish Stream project is €1 billion to €2 billion per year. So it is clear that Russia won't be able to help them much. And since there is no other revenue source for the Greek government, it is certain that they will default. But when?

It is not certain at all. Why think so narrowly? They could easily ask Russians (or China) for a credit line (which they probably already did), and then lease an island (or two, for either country) for the same 50 years or so...

Besides, 50 years is a lot of years, so anything could happen ("fuck the EU")

Topic: If Greece defaults - page 18. (Read 45250 times)