oldmanxfella Posted July 5, 2015 Share Posted July 5, 2015 All four pollsters suggest a 'no'...but there are no exit polls yet, and they could be wrong. It's a 'no'. Amazing given that over 25% of the Greek workforce work in the public sector. I thought they'd have no option but to vote for more free EU money. I read a report yesterday saying Greece only had £500m of free cash left. That's probably two months payroll. They're fucked. The government will rip itself apart now if it can't pay its workers. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 5, 2015 Share Posted July 5, 2015 Chaos in the bond markets tomorrow. I wouldn't be selling Euros tomorrow...though I suspect once they announce Greeks out...euro will strengthen a few days later. This is not the end of the Euro IMO. It is the realisation that the Greeks lied their way into it, and too many pro Euro types were willing to take their word on meeting economic conditions for joining. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 5, 2015 Share Posted July 5, 2015 Franco-German call for eurozone summit AFP BBC 21:10 "Chancellor Angela Merkel and President Francois Hollande want a eurozone sumit on Greece on Tuesday (Berlin)" ...tata! Link to comment Share on other sites More sharing options...
Lxxx Posted July 5, 2015 Share Posted July 5, 2015 Better Greece went now than drag it out any longer. They can regroup and recover like Iceland did and then we'll move onto the next country who wants out too. Could be an interesting second half to the year. Link to comment Share on other sites More sharing options...
oldmanxfella Posted July 5, 2015 Share Posted July 5, 2015 Chaos in the bond markets tomorrow. I wouldn't be selling Euros tomorrow...though I suspect once they announce Greeks out...euro will strengthen a few days later. This is not the end of the Euro IMO. It is the realisation that the Greeks lied their way into it, and too many pro Euro types were willing to take their word on meeting economic conditions for joining. It's a forgone conclusion which the markets have factored in. The German Finance Minister said a few days ago that they would let Greece "temporarily" leave the Euro to sort itself out and that re-admission was possible. The Euro has no substance though. It's a political currency. It's value has no correlation to the ability of individual EU States to repay any debts due. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 5, 2015 Share Posted July 5, 2015 Chaos in the bond markets tomorrow. I wouldn't be selling Euros tomorrow...though I suspect once they announce Greeks out...euro will strengthen a few days later. This is not the end of the Euro IMO. It is the realisation that the Greeks lied their way into it, and too many pro Euro types were willing to take their word on meeting economic conditions for joining. It's a forgone conclusion which the markets have factored in. The German Finance Minister said a few days ago that they would let Greece "temporarily" leave the Euro to sort itself out and that re-admission was possible. The Euro has no substance though. It's a political currency. It's value has no correlation to the ability of individual EU States to repay any debts due. ...a bit like the pound sterling you mean? Link to comment Share on other sites More sharing options...
GD4ELI Posted July 5, 2015 Share Posted July 5, 2015 Better Greece went now than drag it out any longer. They can regroup and recover like Iceland did and then we'll move onto the next country who wants out too. Could be an interesting second half to the year. Not a chance, the Icelandic background is totally difference. Greece will collapse if it adopts the Drachma. Link to comment Share on other sites More sharing options...
Tarne Posted July 5, 2015 Share Posted July 5, 2015 I don't know if this is relevant, but this is what happened in Argentina https://en.wikipedia.org/wiki/1998%E2%80%932002_Argentine_great_depression Massive devaluation, then constant problems for years after wards Link to comment Share on other sites More sharing options...
spook Posted July 5, 2015 Share Posted July 5, 2015 The Greeks should now be kicked out of the euro zone and the EU. It should be done with great haste to stop Greeks migrating in order to con the hard working European tax payers in the hard working European states rather than from a distance which they have been doing for years. It would be beneficial to Greece to return to a peasant economy, and if the Greek government and now after the referendum the majority of the electorate are allowed to get away with it then the other basket case Mediterranean states will try the same. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 5, 2015 Share Posted July 5, 2015 They have to go. End the contagion, and warn others of the dangers of pursuing such a route. Link to comment Share on other sites More sharing options...
mojomonkey Posted July 5, 2015 Share Posted July 5, 2015 Spook, does writing peasant economy give you some kind of erotic kick? I think you must have used the phrase in every post you've made on this thread. Link to comment Share on other sites More sharing options...
hillshepherd Posted July 5, 2015 Share Posted July 5, 2015 Spook, does writing peasant economy give you some kind of erotic kick? I think you must have used the phrase in every post you've made on this thread. But he is dead fucking right,and thats why they should never ever have been allowed to join the undemocratic construct ( THE EUSSR ).hope it collapses altogether. Link to comment Share on other sites More sharing options...
Lxxx Posted July 5, 2015 Share Posted July 5, 2015 So Greece will now, presumably, take a right turn into the arms of the BRICS banks and seek solace in the bosom of the 'good guys' and away from the bad old EU. Same shit, different master. Link to comment Share on other sites More sharing options...
woolley Posted July 5, 2015 Share Posted July 5, 2015 You all seem to think it's over and the Greeks are out of the Euro. I am not so sure. The Euro project fanatics are mad enough to continue talking with Greece about this no matter how much it costs their taxpayers, and no matter how much their credibility is shot through with the rest of the PIGS. Tsipras knows this and he's been playing them all along. They would do a deal despite the obvious disaster looming further down the road. Link to comment Share on other sites More sharing options...
Non-Believer Posted July 5, 2015 Share Posted July 5, 2015 60% No vote.....so another meeting of the EU finance heads. This is brinkmanship and the Greeks have some balls (and gall) to be playing it. Turf them out now and live with the consequences - or talk and extend the credit more. The ball is back in the EU court... Link to comment Share on other sites More sharing options...
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