Topic: If Greece defaults - page 23. (Read 45224 times)

The problem is not just huge debt. There are other factors like
- Debt becoming due
- Investors not trusting the government
- Lack of a concrete plan to tackle the debt crisis.

Sure, there are other countries with such problems, but Greece seems to be on the top of the pack.

Sometimes i feel Greece case is so much martketed in media.Portugal already rejected any EU financial help,thay have huge debt,but his debt stop to grow,and now more and more investors are coming there,just becouse thay are EU,IMF free

Greece is picture of big problem what is all EU,IMF,money printing

Finally it has comeback to normal economy,investing instead of rising taxes and cutting spending
If that wil not happen euro will fail andaftereven EU may fail and then reborn one time again

Next victim after Greecewill be Poland,i know becouse i am from that country

We are mathematical geniuses.

1+3=13
7-1=8
5+8=4

«νoυς υγιής εν σώματι υγιεί»

 Very good articles showingall that EBC,IMF lies
if Greece will goes in to russian arms it will be his biggest tragedy,2bln$ Russia promised is worth 2Bln empty words
Id Greecewill goes in China arms hiseconomy may recover really fast,what will say IMF,EBC EU officials, propably talks with Greeceareclose to succesfoul end,and thayare extented

Mr Tsipras said the core powers were by degrees bringing about the "complete abolition of democracy in Europe" and were ushering in a technocratic monstrosity with powers to subjugate states that refuse to accept the "doctrines of extreme neoliberalism".
"For those countries that refuse to bow to the new authority, the solution will be simple: Harsh punishment. Judging from the present circumstances, it appears that this new European power is being constructed, with Greece being the first victim," he said.

http://www.theguardian.com/business/2015/may/31/greece-alexis-tsipras-lambasts-absurd-proposals-creditors-for-debt-deal-failure

http://www.telegraph.co.uk/finance/economics/11642260/Defiant-Tsipras-threatens-to-detonate-European-crisis-rather-than-yield-to-creditor-monstrosity.html

Yep, tomorrow is my guess. They could repel the ATM run with lies last week, and tried again. The question of default now is just a formality, it's a long time since they stopped paying the suppliers to the government.

If the eurogroup give them more money, it is just a question of time before the whole mediterrenian area defaults. Three months, toppers.

They should default. That's the thing with loans, they are either paid or they are not paid. As varoufakis suggests, they should neither default nor pay, rather push the repayments "into the distant future", that is debt monetization, it is the equivalent of turning debt into money, or printing money, which they currently can't, due to the euro.

When they have defaulted, and continue the welfare state with gross incompetence, they just start a new cycle with a new default down the line. It is the same with all welfare states, it is just that government of Greece hit the wall first among the so called advanced economies. Unsound money is not a solution, it just hides the overspending and incompetence for a while.

Greece will be able to afford it's inland commitments with revenues coming in from taxes etc without the euro bailout money but they won't have dough to pay the Troika funds..so best is to default on the loans until the Troika can bring down the interest rate and keep the internal affairs solid..Why is Greece paying loans that Germany makes a huge profit from anyway? When Germany after the war was rewarded with cheap credit it was o.k but they wanna penalise Greece and make it poorer and poorer..doesn't make sense..I can stuff this kind of eurozone lol.

The government of Greece is an interesting test case, because they are the first government to go bust with relatively sound money. The euro is sound in the sense that the government of Greece does not have the power to debase the currency. (After the "whatever it takes" statement, the euro has been fraudulently taken over by the ECB, and it is no longer sound, at large).

So in a sound money environment, the government can not expand the money volume, and loaning is kept in check by the market. Only taxes are left, meaning the government has to spend less, and the welfare state is not possible. The prospect of the government of greece going bust, was written in stone the day they joined the euro.

When you are already insolvent, and spend more than your income, you go bust. That is a law of nature that can not be circumvented. It is just like the first law of thermodynamics, or gravity.

Appearantly, the folks living in the area violently controlled by the gang of thugs called the government of Greece, let this doomed project go on since 2001 till now without questioning it. They appearantly thought it was smart, since the government now could loan more and tax less.

If and when sound money becomes the norm, a few more governments will take the same route. After which the folks living on the land recognize the wolf on its gait and restrict the governments. It will not end governments, but severely restrict them. Remember, they have only the power you give them.

This is the only thing which sets apart European countries from others - the inability to print their own currency at will.
If this happens, the Euro will have as much sanctity as the former Greek drachna.

Oh, what will the Spanish and Italian people think about Greece's free haircut?



The Greek problem would be over by now if Spain and Italy are almost as bad as Greece. Bitcoins will only work when it is as easy to use as Debit Cards in even mom and pop stores. Just remember even when Bitcoin is no longer adding more bitcoins you can have inflation and deflation. Being on the gold standard was none to cause deflation and sink economies. The best thing bitcoin could do is take the game out of governments hands of gaming the system to gain a short term advantage that costs them more at a later date.   Always remember the value of something is what the masses think the value is. Gold prices go up and down.

Is it even technically possible for Greece to default without taking all other Euro currency countrys with them ?

As far as i remember from when we voted against changing to the Euro there was no exit paragraphs, if a country changed its currency to the Euro there was not possible to exit the Euro and go back to a separate currency so changing into Euro as national currency was a decition that last forever for those countrys that choose to do so.

Sunday is yet another deadline for Greece,after that will be next one and next one ..... finally something will happen

But Europe change is on horizon,becouse of strong citzenship movement is appearing and EBC massive printing will bring Europe to catastrophe

Greece in all of that story only Greece,but even touch of butterfly wings can cause the avalanche

Looks like they are getting more desperate but continue to play kick-the-can. If there was a can kicking contest in the Olympics the Greeks would win it everytime. I expect we'll be reading about Greece can kicking still in another year if not longer.  

I respect your views but no offense, serial rapists, murderers and killers shouldn't be sitting pretty in prison but that's just my view.. Golden Dawn is responsible for murders of foreigners and greek activists and such behavior in a civilized society shouldn't be tolerated..Yes to freedom and democracy but we need to be civilised enough to be given the rights of true freedom..Peeps always forget that my freedom doesn't mean I can rob you of yours..and you may say to me, well why u want capital punishment for serial rapists and killers? Well because I simply don't class them as human beings anymore..a monster is not to be put in the same category as a human.. So that's my logic with that one..In regards to cut spending..yes the premature pensions, i.e getting a pension from age 40 or so should be cut..too many civil servants that  shouldn't be in the public sector because they don't really need to be there, those jobs should go and growth should come to give more peeps stable jobs..We should leave the EU because since coming to the EU cotton and silk production was axed along with a lot of other light industries and the germans who selling us expensive credit while making billions on the difference in the interest have made a killing on the broken backs of the greek population..  i love debates.. 

This sounds like the ravings of a madman.  Why should a popular political party be made illegal?  Why do you need capital punishment? It costs more per person to have someone on death row than to put them in prison for life. Look it up.

Whether they should cut spending or leave the euro is the question, not if they should make political parties illegal and start murdering criminals.

To some degree I agree that the Sales tax on luxury goods should be upped considerably and food should be exempt..and I talking about basic staples not luxury gourmet food like caviar and japanese beef..

Many other issues need to be addressed to make the country stable too, including making the golden dawn party illegal..aka name and shame it as a terrorist organization..legalise all the black market money and make them pay tax on it and also the corrupt govt officials should all be tried..also for heavy sh8t we need back capital punishment..sorry to say but pedos, mass murderers and rapists should get the electric chair..why should poor, hardworking tax payers pay for these harcore criminals to get art classes for life in prison and have it cushy..that will save the govt and country a lo0t of burden..

Some countries or states don't have any income tax at all and rely on sales taxes. I think this is a much fairer system and doesn't penalise anyone who has worked hard for their money. Luxury goods should then have a very high tax whereas basic food and health staples should have no tax and then intermediary stuff other than the basics has a middle tax rate.

Greece will not turn to bitcoin,already bilions of euro has been transfered out of country

Will thay back to drahma,maybe,in that case thay will have heavy two ,three years,than his economy will stabilise and even recover.What in fact banks in the name of EU wants,thay want to exchange part of that flood of virtual money  in greece assets,assets of the best greece companys

What Portugal did,Thay rejected any EU financial help.Now wealthy investors and people frow western europe,China and Angola are coming and buying his real estates and investing in economy,why,becouse there is no ebc and banks hands there.The best for Greece is bankruptcy,but that is huge roblem for germans  banks

If you take one stone away,all pyramid will fail

Pigs countries didnt have even a penny of debt at the end of 2007,now it is only more debts higher taxes,no job etc

I don't agree with any of this. Why should there be higher tax for investing money in to the stock markets? The money, which is being invested has been already taxed once. You can't tax it again and again. And in almost all the countries, there are taxes on gains from stocks. If you increase the tax, then the rich will not invest in anything. They will just keep their wealth as hard cash.

Actually, i'am against high(er) income tax. in contrary, i' am agree with libertarians which say income should be completely tax free. But in my opinion, there should be a higher tax for gains on stocks larger than, let's say, 1 mln. The most rich people had worked hard to get rich but then they get richer just for letting there money work.