Albert Tatlock Posted July 2, 2015 Share Posted July 2, 2015 But he's still telling the Greeks to vote no as he says it will strengthen his hand in negotiations. The Euro is like the Hotel California, you can check in but you can never leave I'm afraid. I don't hold that view at all. I think it's becoming more of a reality that they will likely have to leave. It's damaging the currency, and lenders will have to cut their losses on the Greek seemingly bottomless money pit. There will be a regime change on a 'yes' vote on Sunday, apparently the government leader said he'd resign. It's pretty much neck and neck as to how that might go. A 'no' vote might see Greece announced out next week IMO. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 2, 2015 Share Posted July 2, 2015 They can print one helluva lot of Drachmas in a week. Link to comment Share on other sites More sharing options...
Amadeus Posted July 3, 2015 Share Posted July 3, 2015 I'm still getting up to speed with things here, but as far as I understand, the referendum is partially a face saving exercise for the muppet in charge, who promised alll sorts of wonderful things to get elected, knowing full well he can't deliver. If he resigns after the referendum, he can say it wasn't all his fault and he broke no promsies, etc... Also, apparently Greek people are never asked for their opinion in referendums, so they're apparently excited that they can actually have a say of sorts, even if it's about a moot point with the offer that has now expired. Link to comment Share on other sites More sharing options...
oldmanxfella Posted July 3, 2015 Share Posted July 3, 2015 But he's still telling the Greeks to vote no as he says it will strengthen his hand in negotiations. Would you believe the outcome of any vote from such a nation of cheating bastards? Judging by this (I've read the book it's good, so is the Greek bit of 'The Meltdown Tour')) http://www.dailymail.co.uk/news/article-3148451/A-island-pretending-blind-benefits-8-500-pensioners-faked-aged-100-lawyers-claim-earn-just-12-000-New-book-reveals-Greeks-cheated-ruin.html .. the results of the vote will probably be 350% of the population voting 'no' Link to comment Share on other sites More sharing options...
Amadeus Posted July 3, 2015 Share Posted July 3, 2015 Right in the middle of it a short while ago Tsipras on the stage to the left at the time, hence everyone going mental. This is Syntagma Square again: https://www.facebook.com/video.php?v=10152853936337237 Link to comment Share on other sites More sharing options...
Amadeus Posted July 4, 2015 Share Posted July 4, 2015 Some pics from Syntagma Square in the center of Athens last night. This is the No (OXI in Greek) camp. Mega crowded and a very strange atmosphere. Not really sad, not really aggressive (very little police visible anywhere, and the ones I saw were just standing around in side streets, with their riot gear not even put on), not really party, but somewhere in between and a real sense of history being made, although nobody knows what it will lead to yet..... A little crowded on the subway Looking down Syntagma Square Looking up the other way Near the stage at the top, in front of the parliament, where Tsipras was speaking Link to comment Share on other sites More sharing options...
Black Bob Posted July 4, 2015 Share Posted July 4, 2015 Can we really expect Greece to find a way out of this financial quandary? After all, you can't even flush a few sheets of bog roll there after meticulously wiping ones arse, so what are the chances of them repaying billions? Slim to none I think Link to comment Share on other sites More sharing options...
guzzi Posted July 4, 2015 Share Posted July 4, 2015 If it is no, then how long can they survive with closed banks and capital controls? If they re-open the banks and remove capital controls, capital flight will just continue and the banks will fold very rapidly without ECB liquidity. Regardless of whether there is a legal framework for exiting the euro, they are going to have to restore liquidity PDQ, and the only option will be to start circulating another currency domestically, regardless of whether they technically remain in the euro zone. My guess is that Tsipras will lose narrowly, and that there will be a new regime, and a restoration of external assistance. I have enormous sympathy for Greece, firstly because they have not been competently governed for decades, and secondly, because the conditions imposed by their creditors will make it exceptionally hard for their economy to return to growth. Link to comment Share on other sites More sharing options...
spook Posted July 4, 2015 Share Posted July 4, 2015 Having stolen from the EU, the ECB, and the IMF I read this morning that there is a plan to steal from Greek bank depositors in order to fund the thieving lying Greek government. Link to comment Share on other sites More sharing options...
guzzi Posted July 4, 2015 Share Posted July 4, 2015 Having stolen from the EU, the ECB, and the IMF I read this morning that there is a plan to steal from Greek bank depositors in order to fund the thieving lying Greek government. Greece is a beautiful country, one of the cradles of civilisation and democracy, and its people surely deserve a way out that protects their well being, including their material well being. How would you handle this disastrous situation? Link to comment Share on other sites More sharing options...
oldmanxfella Posted July 4, 2015 Share Posted July 4, 2015 Having stolen from the EU, the ECB, and the IMF I read this morning that there is a plan to steal from Greek bank depositors in order to fund the thieving lying Greek government. Greece is a beautiful country, one of the cradles of civilisation and democracy, and its people surely deserve a way out that protects their well being, including their material well being. How would you handle this disastrous situation? I would agree with that in principle but there's an element of moral hazard in here that the Greeks need to learn from. They've been taking the piss for decades and the state has bankrupted itself selling some weird socialist miracle economic system to its people - a huge proportion of whom were taking the piss by paying hardly any taxes whilst at the same time thousands and thousands of others have been on generous government salaries and pension benefits for largely doing very little. Why is it that only the Irish seem to have been made to pay for their boomtime largesse when the rest of the European piss takers are constantly being let off the hook - free to keep on racking up more debt and pursuing lifestyles and economic policies that are simply bonkers? The only thing the Greeks wanted out of its EU membership was the EU money - now it's all spent and yet they still expect to be able to keep on operationing as normal despite the fact there is no money or economy to support it? Link to comment Share on other sites More sharing options...
Non-Believer Posted July 4, 2015 Share Posted July 4, 2015 Having stolen from the EU, the ECB, and the IMF I read this morning that there is a plan to steal from Greek bank depositors in order to fund the thieving lying Greek government. Greece is a beautiful country, one of the cradles of civilisation and democracy, and its people surely deserve a way out that protects their well being, including their material well being. How would you handle this disastrous situation? ...the state has bankrupted itself selling some weird socialist miracle economic system to its people - a huge proportion of whom were taking the piss by paying hardly any taxes whilst at the same time thousands and thousands of others have been on generous government salaries and pension benefits for largely doing very little... Sounds vaguely familiar.... Link to comment Share on other sites More sharing options...
P.K. Posted July 4, 2015 Share Posted July 4, 2015 Greek Heaven: The mechanics are German The chefs are French The police are British The lovers are Greek Everything is organised by the Swiss Greek Hell: The mechanics are French The chefs are British The police are German The lovers are Swiss Everything is organised by the Greeks themselves Link to comment Share on other sites More sharing options...
Amadeus Posted July 4, 2015 Share Posted July 4, 2015 Some more video from last night, right at the heart of the action. My disguise is holding up This is all the No camp and the No posters, stickers and graffiti far outnumber the Yes ones in town, at least as far as I could see. Gut feeling says it will be OXI tomorrow and then fuck knows what will happen. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 4, 2015 Share Posted July 4, 2015 I suspect it will be 54% 'yes', 46% 'no'. Another couple of weeks of confusion. Link to comment Share on other sites More sharing options...
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