Greek Debt Crisis Simplified

This is a discussion on Greek Debt Crisis Simplified within the General Trading Chat forums, part of the Reception category; Originally Posted by forker Thats an angle I didn't think about. Its easy to forget about those mountains of money ...

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Old Jul 8, 2011, 9:46am   #41
 
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Re: Greek Debt Crisis Simplified

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Originally Posted by forker View Post
Thats an angle I didn't think about. Its easy to forget about those mountains of money who's owners haven't got debt in their headlines.
For those that have money or can borrow plenty at near 0% then this crisis is ideal. They buy up stuff cheap and will sell later when things improve at a vast profit.

Hardship ? Not those babies. Even Union bosses are licking their lips at the forthcoming winter of violence.
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Old Jul 8, 2011, 4:36pm   #42
 
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Re: Greek Debt Crisis Simplified

I worked in Greece for a few years so here's a couple of example of where the Greek worries comes from:

Collective employment agreements:
Under the old regulations, any employer who wanted to fire an employee after I think 12 years of employment had to give 48 months notice.

Public Sector:
There used to be a bonus for public sector workers who got to work on time
There used to be a bonus for public sector workers who had to use elevators in the course of their working day

Salary structure:
14 salaries in public and private sector. Public sector workers employed in the house of representatives get 16 salaries

Corruption:
An ex minister apparently had 185 million Euro stashed in various bank accounts. Nothing will happen as under the Greek constitution, politicians are immune from prosecution.
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Old Jul 8, 2011, 4:43pm   #43
 
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Re: Greek Debt Crisis Simplified

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Originally Posted by Martinghoul View Post
The benefits are intangible... It's like if you were to ask what the US gained by letting the state of Missouri join. Nothing obvious (in fact, the richer states are still paying for it), but most Americans would say there's value. Moreover, there's evidence that convergence (i.e. poorer states getting wealthier) is real, so there's all sorts of potential future benefits.
All a bit risky and uncertain from an accounting perspective. I'd prefer a nice low yield bond any day.
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Old Jul 8, 2011, 4:51pm   #44
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Re: Greek Debt Crisis Simplified

Quote:
Originally Posted by FXCC View Post
I worked in Greece for a few years so here's a couple of example of where the Greek worries comes from:

Collective employment agreements:
Under the old regulations, any employer who wanted to fire an employee after I think 12 years of employment had to give 48 months notice.

Public Sector:
There used to be a bonus for public sector workers who got to work on time
There used to be a bonus for public sector workers who had to use elevators in the course of their working day

Salary structure:
14 salaries in public and private sector. Public sector workers employed in the house of representatives get 16 salaries

Corruption:
An ex minister apparently had 185 million Euro stashed in various bank accounts. Nothing will happen as under the Greek constitution, politicians are immune from prosecution.
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Old Jul 8, 2011, 4:56pm   #45
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Re: Greek Debt Crisis Simplified

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Originally Posted by FXCC View Post
Corruption:
An ex minister apparently had 185 million Euro stashed in various bank accounts. Nothing will happen as under the Greek constitution, politicians are immune from prosecution.
It is cheaper for the tax payers to offer politicians easy bribes than to force them into scheming something big, expensive, and useless in order for them to take a small cut from it. I like the greek system.
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Old Jul 8, 2011, 5:02pm   #46
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Re: Greek Debt Crisis Simplified

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It is cheaper for the tax payers to offer politicians easy bribes than to force them into scheming something big, expensive, and useless in order for them to take a small cut from it. I like the greek system of making love.
Really? Well, that's fine, but it's nothing to be proud of. Enjoy yourself by all means, but if you want to discuss it you'd probably be better off over here:

http://forums.queeruk.net/
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Old Jul 8, 2011, 5:15pm   #47
 
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Re: Greek Debt Crisis Simplified

Quote:
Originally Posted by FXCC View Post
I worked in Greece for a few years so here's a couple of example of where the Greek worries comes from:

Collective employment agreements:
Under the old regulations, any employer who wanted to fire an employee after I think 12 years of employment had to give 48 months notice.

Public Sector:
There used to be a bonus for public sector workers who got to work on time
There used to be a bonus for public sector workers who had to use elevators in the course of their working day

Salary structure:
14 salaries in public and private sector. Public sector workers employed in the house of representatives get 16 salaries

Corruption:
An ex minister apparently had 185 million Euro stashed in various bank accounts. Nothing will happen as under the Greek constitution, politicians are immune from prosecution.
No wonder the Greeks are broke

I think it really highlights the inadequacies of democracy. Their Unions are completely out of control and the politicians can't/daren't say NO

Years of Socialism - and now reaping the disaster !!
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Old Jul 9, 2011, 4:15am   #48
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Re: Greek Debt Crisis Simplified

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Originally Posted by Pat494 View Post
No wonder the Greeks are broke
Years of Socialism - and now reaping the disaster !!
Yep and thats what socialism does...drags everyone down to the lowest level.
Sounds a bit like the comprehensive school system over here.
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Old Jul 9, 2011, 9:09am   #49
 
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Re: Greek Debt Crisis Simplified

I can remember a conversation I had with a Bulgarian friend years ago. Something along the lines of "Venco, what was it like to have the same guy in charge (Shivkov) for 35 years?"

Answer was - "just like Greece - it's either Karamanlis or Papandreou".
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Old Jul 9, 2011, 11:15am   #50
 
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Re: Greek Debt Crisis Simplified

Nothing to do with socialism. Just fraud and bad leadership.

Look at US and Europe for goodness sake. The biggest mess was one of the Republicans from Raegan to Bush to Bush each Republican spent a fortune on oil, wars and banks...

Bad management is bad management irrespective of any ism.

Castra and Chavez seem to have done better and not got caught up on this ****.

Tories hardly have a reputable handle.


This is typical stuff where one has to find a scape goat / coat / boat to leave a sinking system. If it ain't the scrounging foreigners its socialism. What next the journalists and the police. Don't mention bankers and politicians. Lemme guess they are all socialists too.

I guess when the money is flowing in all those ******s in Brussels with bent accounting practices all doing the same in all other countries too simply turned a blind eye.


Pat I recall you were singing a different tune regarding Ireland... Would I be wrong in suggesting you are being selective with your principals...


Rant on - it's the weekend.
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Last edited by Atilla; Jul 9, 2011 at 3:34pm.
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