London_Calling
Pleasant and unpatronising
It's worse than death, it's potential SOVEREIGN DEFAULT.
Except default isn't anywhere near.
Except default isn't anywhere near.
Greek Parliamentary Election
- Thread starter Red Storm
- Start date
Barking_Mad
Non sibi sed omnibus
I hope so, my life's a little boring and needs some excitement, even if it's not quite "End of Days" stuff.
Barking_Mad
Non sibi sed omnibus
London_Calling
Pleasant and unpatronising
Again, by the growing run on banks in Greece and Spain, the electorate drives this issue. It's a Friday, by Monday there had better be something to reassure the public. Interesting.
Had two friends of friends arrive in London last Thursday from Athens with all the euros they'd need for one-year courses at UK Unis - they opened accounts with UK banks, made the deposits and flew back the following day. At least they know that much is safe.
Had two friends of friends arrive in London last Thursday from Athens with all the euros they'd need for one-year courses at UK Unis - they opened accounts with UK banks, made the deposits and flew back the following day. At least they know that much is safe.
London_Calling
Pleasant and unpatronising
They did a good job of that here 3 or so years ago.
London_Calling
Pleasant and unpatronising
I love Merkel informing the Greeks how to run their democracy again - this time she wants a referendum on the euro alongside the election of the 17th.
Meanwhile, we have Euro Parliament President effectively campaiging for New Democracy and PASOK.
Desperate days for Berlin ...
Meanwhile, we have Euro Parliament President effectively campaiging for New Democracy and PASOK.
Desperate days for Berlin ...
Dimitris
Well-Known Member
She is now denying that she said that.... So who is lying here ? Merkel or the greek president mr Papoulias ? Have in mind that Papoulias is an ex PASOK mp and minister, it seems to me that he is trying to help ND and PASOK himself as well.
London_Calling
Pleasant and unpatronising
Berlin is seeing control slip away a little, some to the markets, more - and worse - to the Greek electorate. Also the Spanish electorate: will the run on the banks gather steam on Monday ... has to, surely ...
Someone has to propose a new haircut soon ...
Someone has to propose a new haircut soon ...
extra dry
Happy to be here
there will be no money in the banks of ether country by Thursday..key day the population of Greece may just vote in a very mixed and divided collation of other smaller parties.
Spain and Greece may revert back to there original currency, you get price hikes...food/water shortages around August or September...long hot summers..the people employed to look after the basic heavy infrastructures like sewage plants...power grids..transport/roads/rail all go to the wall.
Hyper inflation would also hinder the currency, what trader would risk being paid in a currency which may get devalued by a large amount in the near future.
Loads really unpleasant stuff is going to happen...
Spain and Greece may revert back to there original currency, you get price hikes...food/water shortages around August or September...long hot summers..the people employed to look after the basic heavy infrastructures like sewage plants...power grids..transport/roads/rail all go to the wall.
Hyper inflation would also hinder the currency, what trader would risk being paid in a currency which may get devalued by a large amount in the near future.
Loads really unpleasant stuff is going to happen...
London_Calling
Pleasant and unpatronising
Not that it'll happen any time soon but when Greece drops out it automatically becomes the holiday destination of choice for pretty well all of Northern Europe. Ditto unskilled and semi-skilled factories, as well as non location-dependent industries.
It all takes time to work through but - as Argentine demonstrates - it provides an opportunity to fundamentally reorganise the economy in a forward-looking way.
That's not to say there wouldn't be an awful lot of misery involved as well.
It all takes time to work through but - as Argentine demonstrates - it provides an opportunity to fundamentally reorganise the economy in a forward-looking way.
That's not to say there wouldn't be an awful lot of misery involved as well.
not-bono-ever
meh
Isnt Greeces biggest export Tourism ? or was until recently ( tourism is still classed as an export Im assuming ? )
Heard alot of stories about the prices for tourism down there of late - Greece has been getting hit very hard because of costs recently & yesw, Northern Europeans have moved across to Turkey to ease the pain. Any drop out will be messy for the Greeks though.
Heard alot of stories about the prices for tourism down there of late - Greece has been getting hit very hard because of costs recently & yesw, Northern Europeans have moved across to Turkey to ease the pain. Any drop out will be messy for the Greeks though.
audiotech
wav, aiff, mp3, ogg, flac
The nationalisation embarked upon in 2003, by the then Argentine President, Néstor Kirchner, immediately following his election and continued after his death by his wife, Christina Fernandez, as reported by The Economist, is requiring a lot of government money to keep those now public bodies going, but despite this the nationalisation that has taken place and which is continuing appears popular amongst the people, compared to what they saw as the corrupt fire-sale of state assetts that took place in the 1990's. No surprise to hear though that Argentina has begun fiscal austerity measures for this year.
I agree - but as a technical point, Kirchner was succeeded by his wife in 2007 and lived until 2010 afaik - this has been an interlude to prevent derailment by idiots.
Divisive Cotton
Now I just have my toy soldiers
Poll shows SYRIZA, ND in two-horse race
http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_20/05/2012_442991
http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_20/05/2012_442991
Germany was the biggest debt transgressor of the 20th century, Greece doesn't even compare to the kings of debt that was Germany.
Germany's economic resurgence was only possible through having its debt payments and reparations either wavered and stopped to its World War II victims or downgraded to a considerable extent.
The Germans are getting heavy with Greeks and lots of Greeks are not taking kindly to the German insistence that the Greeks should face extensive austerity, the Germans have got away without meeting their obligations and now the boot is on the other foot with the Germans economically strong they are insisting that the Greeks meet theirs obligations, there also seems to be what some people see as dangerous anti Greek sentiment amongst the German media.
The Germans were helped when the World could have turned their back on them, Germany should remember that and pay the Greeks what they owe them have some sympathy for them and others in these times of economic hardship for some.
Germany's economic resurgence was only possible through having its debt payments and reparations either wavered and stopped to its World War II victims or downgraded to a considerable extent.
The Germans are getting heavy with Greeks and lots of Greeks are not taking kindly to the German insistence that the Greeks should face extensive austerity, the Germans have got away without meeting their obligations and now the boot is on the other foot with the Germans economically strong they are insisting that the Greeks meet theirs obligations, there also seems to be what some people see as dangerous anti Greek sentiment amongst the German media.
The Germans were helped when the World could have turned their back on them, Germany should remember that and pay the Greeks what they owe them have some sympathy for them and others in these times of economic hardship for some.
London_Calling
Pleasant and unpatronising
^ It's like an episode of Little House on the Prairie.
goldenecitrone
post tenebras lux
gosub
~#
How is guaranteeing bank deposits any help against this type of bank run.? It's devaluation people are hedging against.
Looking through Google news I appear to be alone in thinking everything is being geared to bring the crisis to a a head before the election.. The only articles mentioning coup refer to post Grexit -when there would be no funds for Army payroll
Looking through Google news I appear to be alone in thinking everything is being geared to bring the crisis to a a head before the election.. The only articles mentioning coup refer to post Grexit -when there would be no funds for Army payroll
love detective
there's no love too small
there's a saying that it's not rational to start a bank run, but it's completely rational to take part in one, but in the case of Greece (and Spain and Ireland) it's entirely rational to do both at the moment, and not just on a bank but the whole banking system
The only way to stop it, is to impose capital controls, close the borders and stamp every greek euro note that's in circulation - and whose going to do that? (putting aside the fact that doing that would force them to leave the EU)
The only way to stop it, is to impose capital controls, close the borders and stamp every greek euro note that's in circulation - and whose going to do that? (putting aside the fact that doing that would force them to leave the EU)
gosub
~#
I completely empathise with savers, who on being told by the rest of EUrope there's a chance their savings will half in value next month decide to move them. I have also read the what happened after the break up of Ottoman with regard currency controls. Not sure how well that would work with modern internet banking and EPOS being the norm
gosub
~#
can't see Germany moving on EUrobonds til Greek is either gone or gimped
Dimitris
Well-Known Member
If you watch this video you see that while they attack the police a person with a helmet who is not wearing police uniform is with the police, receiving the attack.
Now watch this video this is the Golden dawn demo BEFORE the riot started, you may notice that THAT VERY PERSON IS THERE EXACTLY IN FRONT OF THE REST THAT ARE DEMONSTRATING.
The whole thing started when 3 Afghani immigrants attacked and killed a 30 year old man in Patras, after a verbal argument that they had (the man with the Afghanis). Police has now arrested a 17 year old Afghani and are looking for the other 2. Because of this, enraged citizens of Patras decided to demonstrate so the Golden Dawn took advantage of that and tried to enter and attack the abandoned factory. The citizens of Patras that peacefully demonstrated because of the event, did not allow Golden Dawn members to demonstrate with them, as they did not want to appear as if they support the fascists.
If you have in mind that the Golden Dawn operate in a "military" way on their demos, it seems quite clearly that the person who is leading their demo is their leader there who may even be a policeman (a lot of policemen are golden dawn supporters and members). So if this is the case, the riot with the police is STAGED in order to show that they Golden Dawn tried to enter the factory and evacuate it from the people living inside but the police did not let them.
About the factory ... Thousands of immigrants are going to Patras as they hope that they will manage to find a way and get in a ship to Italy from there. A lot are hiding in trucks in occasions truck drivers accept money in order to let immigrants to hide in their trucks. Because the most cannot leave the country though, they have squatted that old factory in order to have a place to sleep, it is a huge factory so I assume that several hundreds may be living in there.
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