I find Greece interesting, great save for the Euro Idea a few years ago, but was always a band aid, stakes are even higher as more and more money from taxpayers outside of Greece has been lent by "orgy" kinda ppl.
Now loans repayments require additional loans to make the repayments otherwise salaries don't get paid. If that was any company on the board youd be selling it if it hadn't already gone into a trading halt
Greece Should leave imo, most would have already ripped their money out for cash, probably just lots of other EU banks holding the paper , which the ECB will then have to bail out. It was overseas bond holders all rushing in to get huge interest thinking they are fully backed by ECB
Greek invented ,,,"Da cash economy", everyone has been given years to pull money out for Euros or any other currency they like.
Grexit (exit)
Grexident (accidently leaving euro)
lol,new term they are promoting
Grimbo (in limbo waiting to resolve)
IMF orgy in Latvia on Friday,,,(sorry summit), producing headlines like
Greece threatening/ not threatening fresh elections
Greece as a debtor have a solid negotiating position imv
there's our list, take it or leave it,
if we go,
you go deal with all the other struggling members who will see that you will do anything to hold the Euro together, including giving bailouts to repay bailouts, and if you give us more money there will be line for more free money to other members not producing.
Its all super stupid, only Germany have stayed within EU rules, France is "gunna" make it next time, making excuses every single budget. But yet they are in there,,,,,,,,Greece do this , Greece do that
Greece knows the orgy guys will have a bit of explaining to do when the locals find out how much money they invested (borrowed money) in Greece.
Greece leaving is like their country going into bankruptcy protection, in the end they come out stronger.
Only reason the US airline industry is so strong is because they like to use bankruptcy protection , huge problems and dramas in the start, but their debt disappears, they make some super stupid offer of .05cents in the dollar, cant pay sorry, which is accepted and they move on.
But if they leave, well well well, the ECB (and its member countries / taxpayers) via the ECB are hold truckloads of paper which they which they borrowed to fund which gives them no return. Nice ECB margin loan in effect, private banks have been loading the ECB with junk since the crisis started.
Banks said problem here, if you don't give us cash for all these bonds then the system collapses,,,taxpayers have then gone in via the ECB and bought it all, guaranteed it.........problem resurfaced (amazing that) and they need cashmore cash, ok says ECB, well buy at 90PC face value.......so the bankers took the 90PC,,,,,,,,,now the ECB can take the rest of the loss,,,,,,,,,
Orgy guys, they never think past the achievement of the present. Orgy guys say, "look at our communique, its rock solid and we passed it around ten special helpers." But they forget what was rock solid and passed around 10 helpers all those years ago has resulted in a communique covered in warts and sores which no one wants 5 years later
If Greece leave, other overly indebted member by the ECB and IMF, being told what they can should and will to by foreign officials will say,,,,,
mmmmmmm,,,yo,,,,,,,,MR IMF orgy guys,,,,,,,,,,we can pay either, cheaper for us to go back to our own currency, we are sick of funding your orgies anyway.
Greece could be the ultimate smart arse, peg local prices to USD, call the hole EUro which is an entirely funded additional layer of expensive government bureaucracy located outside of their own country boundaries and its own government into question.
Eu merely funds an additional layer of unelected global officials operating with more power than a taxpayers own government.
The only good thing is that people can flow through counties easily with a universal passport.
Many say Greece should take the pain and learn to live within their means,,,,,,but many, all of the members except Gernmany have reached spending targets, its a farce..........................
