Greece may exit the Euro ?

I would like to see the new Greek Govt. go after the people who made such a mess of things. They could at least forfeit their assets and start afresh as......er toilet cleaners ?
 
2be said:
Whom are they kidding again!
Why should poor Germans pay the rich Greeks?
Another disaster prepared by the "innocent" do gooders full of best wishes with nothing but wind in their pockets and" Das Capital" dusted in their brains.
Only some Greeks have fallen for it, nobody else is so stupid any more.
Current Greek government is an embarrassment to common sense, they seem to descent either eons to early or eons too late from the mount of Olympus. They do not fit to this present world too well.

http://www.bloomberg.com/news/artic...ufakis-s-wings-as-it-reorganizes-bailout-team
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Yes, but the money was lent by the wealthy nations to the poorer ones so that the richer ones could generate even more wealth.

It comes down to the old Americanism. "Never give a sucker an even break". In fact, everything that is being mentioned, here, is human nature. No one wants to know a loser because, usually, it costs money.
 
Splitlink said:
Yes, but the money was lent by the wealthy nations to the poorer ones so that the richer ones could generate even more wealth.

It comes down to the old Americanism. "Never give a sucker an even break". In fact, everything that is being mentioned, here, is human nature. No one wants to know a loser because, usually, it costs money.
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That's why socialism doesn't work, it costs you too much money to be near failed states.
 
As an anecdote, I worked at sea for about six years for London Greek trampship owners. On another site I have been chatting to old time sailors and some of the conditions that they worked under were unbelievable. Water rationing, where some sailors were washing themselves when it was raining and the ship used to go hunting squalls so as to collect fresh water. These were well established British trampship owners, like Andrew Weir's Bank Line. I never experienced anything like that on Greek owned vessels.

The Greeks were good employers and I have no complaints about the way I was treated in those days.

I thought I would mention this because the Greeks are getting a bit of stick just now.
 
Jack o'Clubs said:
Yes, a very big deal geopolitically. The US trying to carve up the region to its own liking before China does the same (viz. One Bridge One Road). Termed as a trade deal but really about regional political influence.
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Yes indeed, I think it's worth noting that other country's are trying to emulate the EU and how far ahead in the game our continent is. Globally, this is the new model to promote international trade.



Whilst we have issues we can improve on there is much achievement we should also celebrate and not discard.

We don't just have a common market with free tariffs, but we also have joint projects like Airbus, the Typhoon fighter and Hydro-Collider and the space project. Very costly and high risk to embark upon if we were outside.

Rock on the EU (y)
 
Failed system

I don't think anyone is trying emulate a system that is so easy to manipulate. Union Bank Suisse, J P Morgan and Barclays caused the euro to decline drastically through currency manipulation. We have been down this road before, no one is copying the EU.

http://www.bloomberg.com/news/articles/2015-05-20/anatomy-of-an-fx-manipulation

Secondly, the EU doesn't seem to have to ability clean house properly. Greece remains defiant even though they have no leverage in the situation.

Debt Schedule
2015-06-05 €310 million due to IMF
2015-06-12 €348 million due to IMF
2015-06-16 €581 million due to IMF
2015-06-19 €348 million due to IMF, on this date Greece also needs to pay €85m in interest in bonds held by the ECB.
2015-06-30 Extension expires - A four-month extension on the bailout expires. Greece has twice failed to draft list of reforms to its creditors (n)

2015-07-13 €465 million due to IMF
2015-07-19 €199m and €104m - Greece must make the largest interest payments of the month on government bonds.

The biggest worry
2015-07-20 €3.5 billion ECB bond; failure to pay it would put Greece in default, cutting it off from ECB funds.

http://www.bloomberg.com/news/articles/2015-04-23/greece-s-scary-calendar-of-debt-payments-due
 
hhiusa said:
I don't think anyone is trying emulate a system that is so easy to manipulate. Union Bank Suisse, J P Morgan and Barclays caused the euro to decline drastically through currency manipulation. We have been down this road before, no one is copying the EU.
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At least it took four global mega-banks acting together to manipulate the euro. One bloke operating from his mum's semi in Hounslow managed to crash the US stock markets ;)
 
Jack o'Clubs said:
At least it took four global mega-banks acting together to manipulate the euro. One bloke operating from his mum's semi in Hounslow managed to crash the US stock markets ;)
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Considering the fact that the EU is not a country but a federation of 20+ stagnate economies with less money than 20 of the richest Americans. You are comparing apples to oranges. One economy to twenty. This is not first time that the Euro has been manipulated. Libor and serveral European markets are constantly being investigated.

Additionally, the Swiss Franc has been a haven as it is not as volatile.

Keep your money in Switzerland, Canada and Norway. Put in the Euro and flush the toilet.

Greece is basically going to default and be cut off at the end of July when the 3.5 billion euro bond comes due.:p
 
hhiusa said:
Considering the fact that the EU is not a country but a federation of 20+ stagnate economies with less money than 20 of the richest Americans. You are comparing apples to oranges. One economy to twenty. This is not first time that the Euro has been manipulated. Libor and serveral European markets are constantly being investigated.

Additionally, the Swiss Franc has been a haven as it is not as volatile.

Keep your money in Switzerland, Canada and Norway. Put in the Euro and flush the toilet.

Greece is basically going to default and be cut off at the end of July when the 3.5 billion euro bond comes due.:p
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Sorry dude, very silly of me but I just can't resist this...
Must be the Mongol in me... :eek:

Egg_Face.jpg



FYI - http://idioms.thefreedictionary.com/have+egg+on+face
 
hhiusa said:
So you are not British after all:devilish:

That accounts for your Brexit stance
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How so?

As a German living in the US to avoid paying taxes, passing judgement over Brexit from the EU, your logic to disregard my arguments based on ethnicity - for a superior human race sounds perverse to me.
 
Atilla said:
How so?

As a German living in the US to avoid paying taxes, passing judgement over Brexit from the EU, your logic to disregard my arguments based on ethnicity - for a superior human race sounds perverse to me.
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Everything you stated there is incorrect.

1. Germany has a lower effective tax rate than the U.S.
2. What is the "passing judgment of the Brexit" to which you refer?
3. Who said anything about a superior race? I stated my preferences for domiciliation in certain countries and the reasons why.
4. Disregard which arguments?
 
hhiusa said:
That's why socialism doesn't work, it costs you too much money to be near failed states.
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I agree with you that socialism does not work but that is what we are going to get unless capitalism comes more to the centre.

Capitalism is so greedy. Unions only exist because of it.
 
hhiusa said:
Everything you stated there is incorrect.

1. Germany has a lower effective tax rate than the U.S.
I understood from your past posts that you are German living in the US for financial/business reasons? Is this not the case if not where are you from and why are you in the US?

2. What is the "passing judgment of the Brexit" to which you refer?
You suggest my background determines my stance on Brexit if I understood you correctly? I live and pay taxes and vote too as I am entitled to do. I was wondering why you are so into Brexit issue being a German living in the US? Do you not see the illogical inference of your obsessive interest?

3. Who said anything about a superior race? I stated my preferences for domiciliation in certain countries and the reasons why.
So your preference for certain countries and your reasons, how are they different to the migrant boat people trying to cross the Mediterranean? Superior race was poking fun but you didn't get it or you choose not to get it. Your not funny anymore! ;)

4. Disregard which arguments?
I have clearly stated my reasons for UK staying in the EU in previous posts. Please explain how the 'egg on face' post accounts for my stance on the Brexit issue. I don't understand your reasoning?
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I was also wondering why you have opened 10 different Brexit polls?

A. Is it because US economy is 1000 x bigger than EU's
B. Is it because EU is not a country but 50 stagnating countries
C. California's failed economy is 100 x bigger than UK's
D. Is it because you are a German living in the US


?
 
Atilla said:
I was also wondering why you have opened 10 different Brexit polls?
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I opened two Brexit polls? The first one closed and Pat494 suggested I reopen it as the referendum is still a bit away.

Also, we live in a global society and no country is an island, especially when it is attached to a union of countries. I trade in the EUR, GBP, CHF and SEK. I have a vested interest in the those economies. If Greece defaults in July it will mostly likely be excommunicated and the Euro will plummet. Can you say investment opportunity?

Pat494 said:
I think the poll should be re-opened.
After all the vote isn't for months yet.
Click to expand...
 
hhiusa said:
I opened two Brexit polls? The first one closed and Pat494 suggested I reopen it as the referendum is still a bit away.

Also, we live in a global society and no country is an island, especially when it is attached to a union of countries. I trade in the EUR, GBP, CHF and SEK. I have a vested interest in the those economies. If Greece defaults in July it will mostly likely be excommunicated and the Euro will plummet. Can you say investment opportunity?
Click to expand...


Yes I do think so indeed.

Grexit is in the price already. As you are doing pre-prep work, every other institution and country is likely to do so too if not already done.

1. Don't see EUR falling below par with USD
2. Sterling may gain a little but all things being the same not by much
3. CHF likely to gain but not by much or steps will be taken to stall it's rise
4. SEK may lose/gain don't know enough about it, but can't see how Grexit should influence it by much. Likely to be BAU.


I do think it will clear the air and bond EU closer together whilst getting rid of smaller countries.

It's likely to have a positive impact on smaller countries who have interest to remain in the EU.

So I see it as positive all round.

The negatives are likely to be borne by the Greek people as a consequence of their stupid bloody minded politicians imo. One hopes they'll see sense.
 
hhiusa said:
I opened two Brexit polls? The first one closed and Pat494 suggested I reopen it as the referendum is still a bit away.

. If Greece defaults in July it will mostly likely be excommunicated and the Euro will plummet. ?
Click to expand...

Thanks for re-opening the poll.

I imagine the Euro might rise on a Grexit and fall on a Brexit.
 
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