Greece and EU bail out

cypbb


Joined: 23/09/2011
Posts: 61

Message Posted:
02/11/2011 21:30

If i were the EU i would serious have my doubts and bring into question about the intentions of Greece paying any of its debt...therefore i would pre-empt it and kick them out, dont let them dictate who the uck do they think they are???

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
02/11/2011 21:38

Well, it probably feels good to think of the issue along those lines but there (as always) is a wider perspective to it all. If they were "kicked out" there would be a risk of admitting the biggest defect in the EU as an idea

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
02/11/2011 21:45

It's highly likely that if the Greeks default there will be a snowball effect for the rest of the Eurozone.



It's dire at the moment very worrying times for Europe.

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
02/11/2011 23:45

they are a disgrace, they have the worst tax avoidence in the western world . is it any wonder why its come to this? doctors and dentist who earn good livings declaring they only earn 9K a year so they pay jack shit income tax !



to late sorry greedy greeks i hope your shite cowardice nation burns a slow death

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
03/11/2011 02:52

Funny that;



just yesterday a TC friend told me that doctors and dentists here don't pay taxes.

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
03/11/2011 10:37

It is odd tho' (in any country) that there can be an economic justification for certain practices. In Greece's case there are some recent startling disclosures. One recent one is the plight of their railway system. Apparently it spends 6 times more than it receives in revenue and that the average wage is some 65,000 Euro.



I can't make this "work" in my mind. Some say it was simply down to cheap loans available within the EU. The big question is, if they were to leave the EU, how on earth are they going to loan money as a nation so that they can grow out of their economic situation.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
03/11/2011 11:16

http://www.bbc.co.uk/news/business-15567822

 

Greece's finance minister has broken ranks with his prime minister over the country's planned referendum on its latest bailout package.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
03/11/2011 11:16

Evangelos Venizelos said the poll must not be a vote on Greece's future in the eurozone, and said new bailout funds must be released immediately.



Greece's prime minister and eurozone leaders have tied vote to whether Greece remains part of the euro bloc.



The issue is likely to dominate today's G20 meeting in Cannes

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
03/11/2011 11:17

The Greek cabinet is to meet in emergency session at 10:00 GMT (12:00 local) after members of Prime Minister George Papandreou's party withdrew support for a referendum.



Mr Papandreou shocked European leaders and financial markets by calling a vote on the eurozone bailout plan.



Early on Thursday, Finance Minister Evangelos Venizelos spoke out publicly against the idea of a referendum.



The EU says it will not disburse rescue funds until after the plebiscite.



However, Mr Papandreou's centre-left Pasok party is deeply divided on the referendum.

dougskud



Joined: 04/04/2008
Posts: 356

Message Posted:
03/11/2011 12:47

Hi everyone good morning



This whole Greece thing and the potential for Italy,Portugal, Spain and even France to default is a real possibility and if it happens it means Europe it's population and yes even the Bankers will have to come to terms with living within it's means.



Does anyone serioulsly believe life in 2012 and the following decade of recovery can be anywhere near as difficult as 1945-55 I think not.



The sooner everyone accepts the concept of each nation being responsible for it's own currency and economy and trading with each other on a normal business lines the better.



It will also be interesting to see how much financial aid and support Greece continues to give Cyprus!!



Doug

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
03/11/2011 12:52

Yep, referenda and how exactly they are posed to the masses.



It is one thing asking the people "shall we stay in the EU" and quite another when posing "shall we adhere to the conditions attached to the loan offer".



A "Yes" to either question will mean voluntary austerity measures whilst a "No" to either one will mean no choice but austerity.



Not a good position to be in at all.

Carndi


Joined: 12/06/2009
Posts: 613

Message Posted:
03/11/2011 12:59

Dougskud. Well said.

The sooner the UK is out of it the better.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
03/11/2011 13:02

Do they stick with the euro or ditch the euro, return to the drachma, and accept the uncertainty and chaos that will certainly result, even if only in the short term?



There’s a good chance that enough people would rather stick with the devil they know, than risk the alternative.

mikey53


Joined: 21/08/2011
Posts: 91

Message Posted:
03/11/2011 14:10

Shame to see a Nation that started out so brilliantly with inventions etc, Wheel, ala Shirley Valentine, voting system, Jury system, olympics, mathematicians par excellence etc, etc, etc. Maybe they should cut back on their Armed forces who I beleive is bigger in number than the UK's, a lot of upkeep there one should expect !! Then to see them dissolve into mayhem and economic meltdown. It can't be doing their tourist industry any good at all if they are trying to salvage their assets or are they so incensed by being told that they should pay Tax that they can't see because of all "The Red Mist" swirling around their brains that have got The Bubbles going so much ...

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
03/11/2011 14:27

He's on his way out ....! http://www.bbc.co.uk/news/world-15575198

davpat


Joined: 23/08/2011
Posts: 225

Message Posted:
03/11/2011 14:39

the powers that be should allow Greece to fully default and not provide a single euro more in loans,its going to happen anyway,no matter what,so surely the sooner the better.



Where the UK will be severely damaged,is that Greece owes France alot of euro's and France owes the UK alot of £'s,if the French banking system crumbles due to Greece's inability to repay,UK look out!



David

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
03/11/2011 14:42

same goes for Italy...

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
03/11/2011 15:10

Perhaps if people had listened to Alistair Darling in 2008 the whole debacle could have been cushioned somewhat.(heads for the hills)



Paul.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
03/11/2011 15:16

http://www.telegraph.co.uk/finance/financialcrisis/8846201/Debt-crisis-live.html

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
03/11/2011 16:26

Never Mind Alister Darling,the UK should have listened to this guy when the EU was still the "Common Market"



http://johnenochpowell.blogspot.com/