Topic: If Greece defaults - page 8. (Read 45224 times)

Yes, how illogical is it that they are taking more debt when they are being asked to repay their previous ones.. If Greece does leave the Eurozone, winning its own economic independence might take a coupe years and recreating strategies and becoming a dominant country in the international market would take years and years to happen. They are just escaping the reality.

I fear the same. It feels like they want to remain within an eternal loop of false promises followed by more borrowing.

The only real solution for Greece is to leave the Eurozone. Only with a debased currency they will be able to compete in international markets. It should have been already done five years ago...

Unfortunately the majority of the Greek people is believing in the propaganda of the extreme leftists. They think it's cruelty of the creditors that they demand austerity while in fact it's impudent of the debtor to demand more payment while at the same denying to take action to become solvent again.

No, I don't believe that. Europe is weak and their leaders are feared of making rational decisions. They will extend the time for Greece to show its willingness to enact reforms. Meaning that Greece will get hidden payments again to win some time. As we know this will not help to improve the situation but this is what Europe is doing since five years.

If it shifts to a Drachma, it is not going to honour its Euro-debt obligations. There will be hair-cuts or Greece will just convert the debt into drachmas at the current exchange rate. If the Drachma depreciates, it will be the bondholders loss.

 Last news from Geece battle field

Germany’s Frankfurter Allgemeine Sonntagszeitung newspaper is reporting that the German finance ministry has proposed two options for Greece - including a temporary ‘timeout’ from the eurozone!

Under the first course, Greece would improve its existing proposals, and also transfer some €50bn of property assets to sell off to pay debts (not clear which assets they have in mind. Islands? The Parthenon perhaps?)

The second option would see Greece leaves the monetary union for at least five years and restructures its debt. It would remain as the EU Member and receives further “growth-enhancing, humanitarian and technical assistance”.

Here’s the story:


I suppose they could be serious (assuming FAS are right). But it’s riddled with problems.

For starters, if Greece shifts to a depreciated Drachma it’ll find it even harder to service its existing euro debts. What happens to the banking sector once the emergency liquidity is removed, and the euro deposits locked inside.

And once you’re left the eurozone, even ‘temporarily’, can you really be certain you’ll be allowed back in?




What a nice people,give us 50 bln in property asset we will give you 50 bln in printed by us money

Whatever will happen,all that is supporting anti Euro movement especially Brexit

Euro has been created for political reason Europe federalisation,European States of Germany

Now Complelemantarycurrency EuroDrachma has been created and has got strong support from very experienced developers

I bet that not only euro will survive but even that it will not be reasons to doubts about its existence. The main reason of this (Grexit) will not happen. Greece will be in Eurozone and will use euro.  Tsipras has made a great confusion with its actions the last 6 months but slowly is going in the right direction.

We saw a major first world country default for the first time, we saw the great powerful chinese market drop trillions worth of shares, all this in just one month. There was a lot of shit people did not expect to happen, things which people thought will never go down so easy, but it did. Everything does, everything can burn down so please, the end of Euro is possible. Very much possible.

Euro and Eurozone are a 65 years project (and a more years dream) and it is difficult that this kind of project end so easy.

The city is so beautiful, it is said to watch it screw itself. If Greece does stick with Euro, yes they will be a leech for Eurozone again, but it will be on their leash too. And if the Greece falls out of Eurozone, other big countries might exist the Euro zone too as there are huge defaults of Italy and many big countries using Euro. Won't the fall of Greece also destroy Euro currency too then?

I agree, I would far prefer if Greeks were brave enough to Grexit and rebuild the country from their own sweat and toil and choose their own allies and friends, than have everything imposed on them by outs die forces but there are way too many bullies out there so Greeks have long lost their mojo..I just hope someone is really brave enough to turn the Country around.. I like Tsipras but he has had to make so many concessions to please the Greeks who are so scared of a Grexit.

I'm curious how you picture it protecting people from such crises at the moment when you can't spend bitcoins directly. You would still have to exchange Bitcoin for some local currency you can buy foods and other basic goods with. Now that the bank system is paralyzed, what could you do with bitcoins only. Maybe, pay for online porno (don't know if they actually accept BTC)?

Bitcoin, as of now, is essentially a parasite on the existing financial system (that of fiat)

In order for BTC to help pick up the pieces, it needs to be none.

According to the number of active nodes in Greece, not many people there know about it yet.

We need some high profile people in Greece to start talking about bitcoin in order for it to be noticed

Many people in Greece with money have already made prior arrangements. Most of the poor or middle class have no access to money to buy btc anyway

Bitcoin is better at protecting people from a crisis like this if they prepare in advance. It will not save people now that their bank assets are already frozen

Looks like tomorrow is it! The plan either works of Greece is out of the Eurozone. If they get kicked, they are going back to worthless Drachma. It will be the best chance Bitcoin has ever had to get a foot in the door and grab some business from the Drachma.

Greece, if wants so stay in the eurozone, has sent a deal to them revising the deal and ensuring things work out for both the parties, which translates to giving Greece more money and still being friends with them and inviting them to parties, and if the deal is rejected, Greece gets thrown out and bleeds to death on the porch. Isn't much left out of Greece to rescue from, let the country learn from its mistakes and come strong a few years later.

Well it looks like Greece has sents its proposal to the EU for scrutiny
We will see their response to it on Sunday
http://www.bbc.co.uk/news/world-europe-33472699

Tsipras will never be able to build or present a real applicable fair plan to conduct Greece in a wealthy way of living without crisis. Tsipras is a demagogue that present plans founded in words and demagogy and not in facts and figures. He think without having in mind the (all) reality but the (supposed) reality came from his ideology.

Greece has defaulted now. It's been thrown out of the Eurozone. What else is left to discuss? The aftermath that follows . I'm sure , had the country been US or UK , the hype would've been much much lesser. The rich people would've shut down the scams in the name of capitalism and be done with it. I see Greece as a noble country.

Good job GREECE! Please buy Bitcoins, because the banks will loot all your money, pensions and other savings. It will be a big bank run in the next few days, but if you are smart greeks, then get your money under the pillow and buy bitcoin with it!!!!

Yep. I drew the same conclusions. If the Greek people suffer further, lets say imports are temporarily restricted due to capital controls, who will they blame? Europe or Tsipras? They will be left begging for a terrible debt restructuring deal. Or they will work together for the good of the people (less likely imo).

The limit is supposed to stay imposed until at least thrusday. Now Tsipras is forced to not dissapoint the Greek people. If Tsipras gives in a little bit too much in the negotations he's done. If Tsipras fucks it up and they see themselves out of the Euro, he's also done (most Greeks dont want to be out of the Eurozone). Extremely hard situation for him and his team.