Greece...what is next for this country ?

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
10/02/2012 17:18

48 hour strikes over austerity measures !!! And they have to endure even more !!!!!

Can they survive in the Euro?





I visualise they will be back to the Drachma soonest.



And,ergo,what will happen to ROC.....?





Mike

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/02/2012 17:25

It's beginning to unravel very quickly. Greek police threatening to arrest officials of the Troika including the head of the IMF that is demanding the financial reforms. Cabinet ministers resigning.



http://www.telegraph.co.uk/finance/debt-crisis-live/9073437/Debt-crisis-live.html

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
10/02/2012 17:45

And,ergo,what will happen to ROC.....?

Hardly important in the grand scheme of things ,hardly world changing ,what happens to ROC.

ROC anyway is in the Euro under its own flag not under Greeces,so I imagine they will stay in the Euro.

Also wouldnt get to smug about Greece and ROC ,bearing in mind TRNC is a far worse basket case but has its own IMF called Turkey





As for the Greeks .as far as Im concerned they can go back to the Drachma,but will not be able to borrow a single penny from the markets. The only reason they can get by now is by being linked to the Euro.

So once in the Drachma ,who do they borrow from . Who will lend to an unproductive bankrupt trading in Drachmas. How will they buy anything from Eurozone ?.What do you think the exchange rate will be?

they are rioting now because of austerity measures. Under the drachma they will be rioting because there will be no money to pay them and the drachma wont be able to buy anything abroad. Self sufficiency???

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
10/02/2012 17:55

Deputy prime minister,2 more ministers resign today.

"Anarchy"springs to mind.

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
10/02/2012 18:06

The ROC has already had it's credit rating reduced by the major Rating Agencies.



If Greece were to leave the Euro, the ROC would be between a rock and a hard place. Go with Greece back into a devalued Drachma or stay independantly with the Euro, but on a low rating.



The ROC is currently a seperate EU Economy from Greece and allied to the Euro. I cannot see them wanting to follow Greece in any withdrawl fom the Euro.



However, without Greek 'backing', how would the ROC survive? Obviously with new partners, who might be,..?

carian


Joined: 13/03/2009
Posts: 336

Message Posted:
10/02/2012 18:08

The ROC didn't have the Drachma, they had Cyprus pounds.

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
10/02/2012 18:36

they cooked their books and lied to get let in the euro club so they deserve all they get .



i hope they take south cyprus with them !



andy

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
10/02/2012 19:12

Just wondering about the technical aspects of Greece returning to the Drakma whilst the GCs keep the Euro. I suppose there is no link between the two coutries that would "force" the GCs back to the Drakma.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/02/2012 19:28

Could end up back where they were under a military junta.

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
10/02/2012 19:33

carian



Prior to the CYP £, the currency of S Cyprus was Turkish Lira/Piastres.



I am suggesting what currency the ROC would look to if Greece reverted to the Drachma.





I can't see them reverting to Turkish Lira.



If they stay with the Euro, they are very much on their own with a devalued/downrated currency.

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
10/02/2012 19:35

a few more ministers have resigned.....oh dear.trouble in store,me thinks.



I always assumed that TRNC has Turkey for support

and that Greece has a say in Republic of Cyprus.



Perhaps I am wrong in that Greece would/could/can't help ROC



Mike

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
10/02/2012 19:45

Greek police union wants to arrest EU/IMF officials.



(Reuters) - Greece's largest police union has threatened to issue arrest warrants for officials from the country's European Union and International Monetary Fund lenders for demanding deeply unpopular austerity measures.



http://www.reuters.com/article/2012/02/10/us-greece-police-idUSTRE8190UC20120210



It's all very simple: the darlings don't do austerity. How could anyone deprive them of their right to sing rembetika, dance and drink in the bouzouki club and spend a thousand euros at a time on throwing carnations?

theparson


Joined: 28/05/2011
Posts: 129

Message Posted:
10/02/2012 19:57

Glass houses and stones come to mind.

We should not gloat as the the same would happen here if Turkey imposed austerity measures on the TRNC via the Government.

It would seem that the vast majority of the Med countries are living beyond their means, but unfortunately for Greece they are members of the Big Boys Club and cannot fudge their way out.

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 20:03

Msg 11, a little knowledge

is a dangerous thing

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
10/02/2012 20:12

Re: Msg 10,

Actually the economy of RoC is in a better shape than say Spain or Portugal. So there is no need for them to revert to any currency.

They have never been economically dependent on Greece like TRN on Turkey.

Some of the RoC's budget deficit has been already covered by the loans from Russia, and more has been promised.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/02/2012 20:13

PB

'a little knowledge is a dangerous thing'



A bit ironic coming from you don't you think.

astro941


Joined: 22/05/2011
Posts: 193

Message Posted:
10/02/2012 20:43

I wonder what has happened behind closed doors? The military budget, although recently cut is very large and perhaps Greek arms have been bent (no pun intended) to maintain a military balance with Europe and others. If their defence budget was cut further they could easily qualify for the next payment from Europe.

shrimp


Joined: 01/09/2010
Posts: 939

Message Posted:
10/02/2012 20:45

six ministers now resigned today, greek citizens have had enough, they thought they had done enough but obviously not.............eurogroup are voting on sunday, another demostration looking likely for sunday which apparantly will make todays demonstrations look like a dress rehersal ........

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
10/02/2012 20:54

Thanks AJ.I stand my corner against the honourable member for Bromley.PB.I will stop drinking for a month when he has something to say that is relevant to TRNC,or revelant to life in general.

I suspect a double idendity,how say you?

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 21:04

Msg 16, I would not have bought

some bodies land or house

taken by gun point



but I have morals



msg 19 , I do not date internet brides from the phillipines

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
10/02/2012 21:11

pb



Very good!



You moved us from discussing Greece & the ROC,..



to Phillipine wives and your personal 'morals'.





Hmmm,....

Lambousa Gordon


Joined: 03/11/2007
Posts: 1992

Message Posted:
10/02/2012 21:17

Back on topic:



From Reuters:



http://www.reuters.com/article/2012/02/10/us-greece-idUSTRE8120HI20120210?feedType=RSS&feedName=topNews&rpc=22&sp=true



QUOTE:

The biggest police trade union said it would issue arrest warrants for Greece's international lenders for subverting democracy, and refused to "fight against our brothers."

UNQUOTE

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 21:19

Hey If I was 69 years old and some flip flop of 39

showed interest in me

I would go for it



If I could buy a villa in the Med

for half the price of every where else

I would do it



but I would not be moralistic



maybe it it jealously ?

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 21:26

The property issue

also applies to both sides

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 21:37

Msg 19 . you want revelant to N/Cyprus

how about UN resolutions ?



you want facts ?



or just a cheap place to live

where your "ladies" can visit

when the holiday Inn in Nicosia is full?

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
10/02/2012 21:39

PB so what have your comments on this thread got to do with Greece going down the tubes.





Why don't you enter debate instead of your usual snide remarks.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/02/2012 21:42

Gordon

Re message 22

How long do you think it will be before we see the army on the the streets?



PB now you are starting to get personal again, leave it out unless you want another enforced holiday.

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
10/02/2012 22:03

Re: Msg27,

"PB now you are starting to get personal again, leave it out unless you want another enforced holiday".



Holidays in Greece maybe?

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/02/2012 22:08

Sorry I thought Msg 27

your mod powers were gone

the same as your forum



Back on topic

I was not aware that the ROC relied on Greece

like N/Cyprus relied on Turkey

maybe I am wrong ?

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
10/02/2012 22:28

No doubt when the dust (hopefully not nuclear) settles after world war 3 any survivors will know the answers you seek. This old fart believes that increasing numbers in this world, regardless of the good luck or otherwise of what they were born to, think that they have human rights which entitle them to live in luxury with no respect for any form of authority or necessity to work to achieve this aim.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
10/02/2012 23:02

The RoC may not rely on Greece for annual subsidy as the TRNC does on Turkey, but it is hugely exposed to what happens in Greece. All EU countries and even those outside the EU have exposure to what happens in Greece but the RoC has more exposure than most. The main RoC banks have lent vast sums to Greece, now while they may have made provision for a '50% haircut' on these loans, they could not escape a 100% default unscathed, which is seeming increasingly possible.

In terms of Greece returning to the Drachma it would certainly impact the joint trading platform that currently exists between the RoC stock exchange and the Athens stock exchange.

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
10/02/2012 23:26

Erolz, notwithstanding my error in thinking the previous Cyprus currency was Drachma, if your analysis is correct then it looks like the GC currency could revert back to the Cyprus Pound.

Regardless, it can't be so straightforward reverting back to a previous currency.

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 00:46

Msg 31, at least you understand

what is going on

I am still amazed at people who live in Cyprus

and how no knowledge of the island

maybe the cheap property was the interest?



And yes I am led to believe the bank of Cyprus

has huge investments in Greece

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/02/2012 01:08

PB... you seem obsessed with cheap property.

People buy cheap property and sell property cheap ? if people want to make money on property they have to buy in a growing economy,.................so that leaves ALL of Cyprus out of this.







My question is why would a large country like Greece borrow money from a minnow like Cyprus ?

I can only imagine they borrowed it because they can and there is little or no chance of Greece paying it back and never had any intention of paying it back .........so more fool Cyprus for lending it them in the first place .



Cyprus will pay for this "loyalty" for many years to come.

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 01:13

Msg 24, with the banking issue

I totally agree



with regards cheap property

my problem is exchange land



as some t/cs like Yorg agree

and the hollier than tho attitudes

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/02/2012 01:28

Only a few TC's PB......... the majority have bought said property and are getting on with their lives shame you can't do the same.





Lets talk about stolen land shall we,.... how much land do you think has been built on in the south that is of "Exchange" type as you call it.



Lets not go missing on this one......... lets have a debate

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 01:41

Well considering the population

was about 82 to 18 %

you do the maths

as far I am aware noone can buy t/c property in the south

obviously this excludes the government

as in any country ie the airport

a t/c may return to reside for 6 months then re-claim their land or property (south)

a t/c may get an EU passport(roc)

and get free health care

a t/c may reside in the north yet work in the south

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
11/02/2012 01:50

Re: Msg 36&37,

I thought the thread was about Greece.

Anyway, the news are in that the Greek cabinet approves EU/IMF bailout bill, it looks like they are going to get a new 130 billion-euro bailout.

The prime minister warned the alternative was "catastrophe."



PB, maybe a holiday in Greece isn't such a bad idea after all? You might even enjoy yourself.

It must be very cold where you live...

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 01:56

msg 38, I do not include you

but it amazes me

people know nothing of where they live



this is why I state facts



as for the comment the south used to use........etc



then it was Cyprus as a whole

buy a history book

not an unwins sales brochure

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 02:00

Msg38, exactly my point

how many idiots think the ROC is the same?

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
11/02/2012 03:41

philbailey,



you seem to be using this thread for another bucketful of whining about

exchange land, the division of cyprus...and your interpretatation of facts



oh well, to each his own

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
11/02/2012 04:13

...and moving back to the original question,

there is no direct economic or financial tie-up

between greece and the roc



but:



local banks have v. large loans out to greece

and it is said greeks have shifted a lot of cash

to (south) cyprus,

...which itself has been downgraded



so the south could be affected by a greek

default, or in a worst-case scenario be caught

out by "contagion" within all the club meds



turkey has a similar relationship to the euro

as britain, outside but trade-dependent



so best hang on to that "exchange land"

rather than try to turn it into any variety of

"paper money" at the moment!

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 04:18

Msg 41, you missed my point

whatever my views or opinions

it still amazes me

how people who live in Cyprus have so little knowledge of the place



Half think the south is Greece

the other half do not know that "technically" it is still an occupied area

whether my views sit well with you or not

is not the issue

it is peoples head in the sand approach that pisses me off

I would rather they had strong views on Cyprus

either way

than wonder what time eastenders is on

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
11/02/2012 04:23

Msg 42 , I will happly talk/discuss things with you

you have a brain



to back up your arguement it is rumoured

that the bank of cyprus has more staff in Greece than the ROc

I did put rumoured



so maybe they will be a roll on effect

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
11/02/2012 08:01

It is not just Bank of Cyprus that has exposure to Greek sovreign debt, but also Marfin Bank and Hellenic Bank. The banking sector within the RoC is disproportionately large given the population size and the size of the general economy, thus these exposures create more risk for the RoC than for other EU countries with Banks with similar exposures but where the banking secotor is not such a large part of the over all economy.



http://www.creditwritedowns.com/2012/02/with-heavy-greek-exposure-three-largest-banks-in-cyprus-now-junk.html



http://www.cyprus-mail.com/fitch/fitch-downgrades-cypriot-banks/20120203



philbailey in my experience and opinion you do not discuss with anyone, all you do is push your 'agenda' or propaganda. I can show countless times when your distortions of reality and truth have been challenged and you simply disapear from the discussion or ignore such.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/02/2012 11:33

I see that the EU are seeking "Written" assurances that cuts will actually take place before any more "spending" money is handed over ?



It now looks like the EU are starting to believe that the Greeks are not as trustworthy as first thought

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
11/02/2012 15:11

turtle,



the promised cheap new debts the greeks may be landed with are somehow similar

to the promising talks we were all emotionally involved in, starting september 2008



in both cases, the opportunity to square the circle as it were lies somewhat outside

the zone of probability in this particular corner of the universe...grim reality intrudes



again, a cyprus "deal" might have been signed, though would it have stood the test

of time any better than its predecessors?

another vast greek bailout "agreement" might be penned but could it really work?



don't get me wrong, I'd be in favour of both, but...

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
11/02/2012 15:43

message 43:



phil,



but you don't explain why you would rather people had "strong views"



perhaps you feel that in any argument about the occupation of cyprus,

you should expect to win on technical grounds even if the moral issues

involved are a tad more complicated than some have us believe



though I really do wonder about your comment:



"...half think the south is greece...the other half do not know that

"technically" it is still an occupied area...."

well it is possible to argue the south is an occupied area, for example

it is dominated by a greek-cypriot ethnic population as it were



but I think you are a bit unfair on those of us who call citizens of the

republic of cyprus "greeks"... perhaps it is simply shorthand for the gc's

or maybe it refers to their own self-identity?



ie you can happily choose to call yourself both "greek" and "cypriot"

...english and/or british



give an ostrich a break, its head is in the sand to scare predators

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
11/02/2012 15:56

The people of Greece will never ever get out of the debt created by the system. They need to go bust and start again as quickly as possible. If Turkey can do it then others can as well.

The Bankers and the powerful behind the Bankers are still running the system.

Quantitative Easing is a joke and a Huge Con!

http://www.youtube.com/watch?v=PTUY16CkS-k&feature=player_embedded

Taking on further DEBT is not the answer!

If you and I were over our heads in debt, do you really believe that any Bank would lend us more? Come on! If any business was head over heels in debt - it would go bust! The Banks were allowed to cause this so called arranged recession so that other agendas could be brought into play without the general public knowing ...

cavalryman


Joined: 08/11/2010
Posts: 314

Message Posted:
11/02/2012 16:44

PB

i notice you quote history a lot is it factual history or the censored version they use in the south??

bertieboss


Joined: 22/07/2011
Posts: 149

Message Posted:
12/02/2012 01:52

Ostriches do not bury their heads in the sand. That is a fallacy invented by people who have their heads up their backsides - like many on this forum.

And give TRNC a break. it is a 40 odd year old entity governed by inexperienced and largely incompetent and probably corrupt individuals ( much the same as the UK) who are under orders from their paymaster in Turkey.

What do you all expect??

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
12/02/2012 03:37

walkerscott,



the idea, is lend the skint states money cheaply...

and whenever they start to recover they can pay it all back



but because of the vast size of the debts, others will have

to accept less, like the private banks



well that's the theory!



....well no it isn't quite the whole story:

the banks will need refinancing too at least in the

northern eu countries, 'coz if they go bust too,

it just doesn't bear thinking about



and yes capitalism is a bad and terrible system:

unfortunately though there may not be a better one

desmontracy


Joined: 08/02/2012
Posts: 1

Message Posted:
12/02/2012 08:29

If they will back in drachma I think that is a disadvantage on most of them especially those foreigners who are working there despite of their not so good economy. I'm hoping that they can recover anytime soon. Greece is a very beautiful country. If only the government official rules their government the right way I guess there wouldn't encounter such dilemma. Other countries are recovering so hopefully there's still hope in Greece.

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
14/02/2012 08:56

http://www.informationclearinghouse.info/article30515.htm

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
14/02/2012 09:38

It looks as though the 'powers that be', financial gurus and the panacea to all EU zone problems that they claim to be are about to fooled yet again by duplicitous promises from the Greeks!



How much longer must the hard working EU countries carry on pouring money into the bottomless pit of, essentially, a time proven cafe society?

Geoff1131


Joined: 12/07/2007
Posts: 276

Message Posted:
14/02/2012 10:08

andre514,re msg 52. Communism is a far better way to govern a country. The only thing wrong with communism where everyone is equal, is that some people want to be more equal than their neighbours.





Oh well capitalism it is then!!!!!!!!!!!!

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
14/02/2012 11:20

msge 51



I recognise that style of writing. Welcome back YFRED.



By the way bertieboss is a cool name

davpat


Joined: 23/08/2011
Posts: 225

Message Posted:
14/02/2012 11:35

in or out of the Euro,the population of Greece is in for at least 15 years of severe hardship,the moral of never borrowing more than you can afford to pay back is as relevant to an individual as it is to a nation.



David

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
14/02/2012 12:07

Msg 37, Yes the Tc can live and work in the south, but at what cost, I work in thew south and live in the south and everyday, I see the hatred still towards the Tc that Gc spew out.

I work at the largest Uni in the south and despite 53 staff working in that department, only 14 will take up a convresation.

Regarding the Tc can claim back their land and homes in the south after living in the south for 6 months, why should i have to do that to reclaim back my own land, also may i point out that out of the 5,460 Turkish Cypriot homes only 3,201 are still standing, thanks to the Gc Goverment selling them to Russian Devolpers, Have a look at limassol and Paphos and tell me how many Tc homes remain.

The Gc and the Greece are heavy in Debt, most Goverment workers have seen their salaries cut by up 20% in 2012, Others have frozen any pay raises for 2012 in the south.

You just need to look around and see how many empty shops there are, which has closed over the last 12 months.

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
14/02/2012 14:09

Erkin, If only there was a way of sharing your experiences via a discrete blog.

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
14/02/2012 14:55

msg 60:

why? this is a forum for sharing

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
14/02/2012 15:24

Msg. 61: just assumed you would rather not risk any "misunderstandings" with your neighbours.

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
14/02/2012 16:16

Msg 37, One other point regarding Goverment stealing Tc land, just to remind you that both Larnaca and Paphos Aiprorts have been build on Tc land, in which the Gc goverment has stolen, Since the opeing of Larnaca Airport the owener has taken the Gc goverment to ECHR and after 15 years is still waiting for the court to take action, A Gc can take Turkey to court and get a settlement in a matter of 1-2 years but yet Tc takes 15 years with still no outcome.



The Gc Goverment is heavly in debt and can not wait to get the Gas out to sell to bail itself and Greec out.

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
14/02/2012 16:55

"Greece faces death by a thousand cuts unless it leaves the euro"





http://www.telegraph.co.uk/finance/comment/jeremy-warner/9080159/Greece-faces-death-by-a-thousand-cuts-unless-it-leaves-the-euro.html

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
14/02/2012 20:23

msg 62:misunderstandings" with your neighbours. Don't worry about that, I keep refering to them as the Gc in occupied land, they know that they will never get their hands onto the north. mind you my partner gives me a headache everytime we take a holiday I refuse to fly from the south and he refuses to fly from the north, so we have seperate holidays, or meet at the destination )))

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
14/02/2012 21:44

Erkin



"Yes the Tc can live and work in the south, but at what cost, I work in thew south and live in the south and everyday, I see the hatred still towards the Tc that Gc spew out.



I work at the largest Uni in the south and despite 53 staff working in that department, only 14 will take up a convresation."





You could always work at a uni in the north for a 3rd of the salary !!

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
14/02/2012 22:33

mess 1



Neither you or I know what will happen to Greece, personally I hope they come out the other side of their problems! as I hope Syria, Lybia, Afganistan and the rest of the Middle East do, perhaps you should be worrying about the Country your living in? It certainly needs worrying about! or perhaps La La Land is your utopia Mr Lapta

andy2b123


Joined: 21/12/2010
Posts: 141

Message Posted:
15/02/2012 11:33

The EU will not lend Greece the bail out money so they will default and drag down the south of Cyprus with them.

Millwall123


Joined: 02/08/2011
Posts: 61

Message Posted:
15/02/2012 11:46

I agree Greece will default and will leave the euro.



RoC has so much Greek debt on its books it may well default too. However the sums are so small it will remain in the euro.

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
15/02/2012 18:35

msg 66: Get your facts correct, my salary in the south is only 90Euro more than the teachers in the North, so do not use that as an excuse, just beause i work in the south does not mean to say the standard of living is any better then the north.

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
15/02/2012 18:52

Let's talk teachers in the North first,as you must know.I am told they are on strike !!!Also,I am informed they work 116 days a year,and get 13 months salary.Is this true?What is the strike about?



On to Greece,they have had a botched bail out.They will not meet the terms..their workers will not meet the terms....50% debt written off.....you're 'aving a larf !!!!

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
15/02/2012 19:30

Erkin



I was not making excuses.. it is you who chooses to live and work in the South. I consider the cost of living in the South considerably more expensive than in the North so this surely begs the question, if things are so bad in the South, why not come back and work in the TRNC ?

Sandford


Joined: 17/12/2011
Posts: 133

Message Posted:
15/02/2012 19:50

Msg 45 Erol. You were right, he did.

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
15/02/2012 20:10

Msg 70, is it because homosexuality is illegal

in the north ?

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
15/02/2012 20:34

thats a bum answer philbailey .

bertieboss


Joined: 22/07/2011
Posts: 149

Message Posted:
16/02/2012 01:58

Message 57 - sorry to disappoint but I am not yfred!!

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
16/02/2012 02:11

Well just watched the news here in UK and they way they are against Germany showing \merkel as a NAZI, THE EU wont get the money back but can they leave them to cope, if so where will that leave the PIGS

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
16/02/2012 07:16

It will be more 'good money after bad'

If the Greeks were a) capable of understanding their situation, and b) intent on doing what they can to rectify it, they would have started to do so years ago.

They will take the hand outs (if they are lucky enough to have them offered this time) as all good 'loosers' do, and have no intention of laying it back.

Finland want them out, Germany want them out, and if the others told the truth, most of those would too.

What Greece needs to so it to start to call to account the people who got them into the mess in first place in their own Gov with a raft of lies, then also call to acount the naive tw@ts in Brussels who were incapable of seeing the lies, and who also led them to dissaster.

Let them go under and starve in the streets.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
16/02/2012 15:36

I will hate to see the ordinary people in the street suffer great hardships but it looks inevitable. The trouble is that Greeks and the Greek Cypriots have been treated as privileged people in Europe and always had help from the EU disproportionately. the economic crises has been an eye opener and suddenly they realized that they have been taken for a ride.



Now it looks certain that Greece will revert to Drachma overnight. So we will wake up one morning and find out that they have pressed the button. It defeats the object to give any notice at all. the rich have already moved their money out.

ismet