The future of Greece

Barbarino

 

Shaddap ya filthy dago.

 

Fit of Rage: Greek PM Tsipras Force Feeds Schäuble Kebab at EU Meeting

 

Euro zone readies for Greek default after Tsipras referendum call

The offer from creditors requires Greece to cut pensions and raise taxes in ways that Tsipras has long argued would deepen one of the worst economic crises of modern times in a country where a quarter of the workforce is already unemployed.

Caught between fears of economic collapse and defiance of the demands from international creditors, many Greeks expressed shock, although opinion polls published in Sunday newspapers pointed to a majority in favour of accepting the bailout terms.

"They are trying to kill us. I don't think this is a dilemma about whether to stay or leave the euro zone. But those bailout terms cannot be accepted," said 70-year-old George Kambitsis. "We don't have any money, but they want to take more from us. How will we eat, how will we live?"

However, voters in other euro zone states - including economic powerhouse Germany, other southern states that have suffered austerity in return for EU cash and poor eastern countries with living standards much lower than Greece's - have lost patience.

 

Yes, raise taxes. That's always the answer. How about removing frivolous social programs and cutting government operations to only what is absolutely necessary.

 

The condition in Greece is an early indicator of every other government that over promises benefits but doesn't have the funds to support the model. Eventually it catches up and with the financial (not political) union in the eurozone their downfall will likely have a ripple effect to areas beyond Greece's borders. The ECB and IMF should have pulled the plug long ago but since they are tied to the hip with the Euro they are equally at risk. Draghi, LaGarde and Disselboom know the Euro experiment is screwed.
No fiat currency ever lasts.

 

How close is Greece to the Crimea? Will this be another opportunity for Putin? Perhaps the Persian Xerses will save their ass. Either way Greece sold their soul for the last 30 years and now it's time to choose which negative path they want to take. :down:

Edit...this is a history lesson for us, too.

 

This constant hand wringing over what's happening in Greece is having a negative effect on the world markets and needs to stop. They probably should just do a mercy killing and put Greece out of it's present misery so it can start the rebuilding of it's economy in a more sensible manner.

 

Greek banks are closed tomorrow (today). That's got to be comforting if you're a Greek citizen.

 

Euro sharply down as Greece crisis deepens, default looms

This is fascinating to watch. The ultimate reality show.

 

Tsipras: Greek 'No' a vote to live in dignity in Europe

You have to love this guy.
He ran on being the guy who would say "no" to more austerity, then spent months working out a deal that included more austerity, which he then refused to sign, but he wants the country to vote to say no to (supposedly what he was elected to do himself), and is now campaigning against the deal he worked on for months.

He makes Obama look like a beginner.

 

Greeks acting like victims is getting a bit old. They made this bed, just as we are making our bed.

 

It looks like the vote is no (against the proposed austerity measures), so where do they go from here? Even if the vote was yes, the deal had already expired.

http://www.forbes.com/sites/panosmourdoukoutas/2015/07/05/greek-referendum-poll-52-no-48-yes/

 

We sit back and watch the socialist utopia burn. Then we get a glimpse of what our future will look like.

 

so lets run this to ground:

1. they won't except "austerity"....aka, live within your means
2. you take them off euro, so they begin printing the drachma again.
3. they still won't instill "austerity", so they inflate their currency.
4. now, instead of no money, they have wheel barrows full of money that isn't worth anything.

how could this possibly be better from the greek perspective?

The EU has to let this go its course. they can't afford to support countries that won't "play ball" and greece has shown it won't play. the markets have adjusted and it won't have a major impact on us. burn the house down boys. i dont care anymore.

 

It'll be quite an interesting and fascinating moment in history. What does it look like when a semi modern Western society completely collapses? How many piles of bodies will there be in the streets? How long will it be until they start killing each other for food? Will the government be murdered by firing squad or dismemberment? Any bets on how Tsipris or whatever his name is dies? Personally, I think he'll be dragged out of bed in the middle of the night and gutted like a fish. Will the government that emerges be a communist dictatorship or a run of the mill dictatorship? I think it'll be hilarious to watch them destroy themselves. Societies eventually get what they deserve, just like individuals. America's self destruction will be even better, but that's probably still a century off.

 

LOL, "running it's course" for Greece is an ongoing thing. Although a few countries have defaulted more than Greece, Greece still has not learned to live within their means. Their first default was 400 BC and since 1826 they have defaulted five times. They have been in default mode for about 90 years of that time. It seems that they are an alien species that has not developed a sense of monetary manipulation.

 

I certainly hope you're right on the US schedule. As far as Greece is concerned, they have been trying a Socialist form of Government for a hell of a long time and have yet figured out any viable way of making it work. It's really true that eventually Socialism always runs out of other people's money.

 

Yeah. I'm not 100% educated on this, but it seems to be mainly financial. So they default, but it's not like the bank of whatever is going to come in and start repossessing Greece. So nothing "really" happens, other than a reset. Maybe some people lose some investments, some businesses close, some people get upset and off themselves, but mainly they'll just start over. New business's will replace the old. New people will accumulate wealth, and outside investors will quickly move in to take advantage of the situation.

Now if it were more political/freedom/rights driven, I could see bodies burning in the streets, but that's not the case.

 

You're vastly understating their issues. They're running out of food and medicine, and they don't produce any of their own. When they abandon the Euro and reintroduce their own, its value outside of Greece will be measured in terms of sheets of toilet paper. They have no money even to pay pensions and their country can't even produce enough for their population to survive. When the Drachma comes back they won't be able to even import what they need to live. It's less defaulting on debt and more total economic collapse. They are completely and totally fucked and will become dependent on foreign benevolence for food and medical aid so they can even live. I don't feel sorry one iota for the pathetic bastards. If it weren't for the fact that Greece has nothing of value and it'd be a waste of time, I'd say they should be conquered by the Bundeswehr and stripped of anything of value to repay their debts to the German people.

Let them be an object lesson. Diversify your assets outside of dying societies when you can. I fully intend on diversifying outside of the United States so that when we collapse I don't have to forage for squirrel and wild grass with the rest of you peons.