greece

[wollie]

I wonder if there is a change in direction coming as I noticed big support in Spain for political change in Greece, when is next election in Spain as I am thinking this may be a factor?

Thanks

[costakid]

Spanish elections later this year. Should be interesting.

[anyroads]

Well, unless there is a big back down by one party. This won't end well.

The people with money in Greece are moving it elsewhere as fast as they can. Who can blame them. The poor suckers with a few Euros in the banks will get a few "new drachmas" to the Euro if it all goes pear shaped. The people who moved their money will get lots more when the drachma floats as it were.

The powers that be, will not let Greece get away with it, so an example could be made to ensure the same situation does not arise in Spain / Portugal etc.

The compromise may well be more kicking of the can down the road. No debt forgiveness, but more easier payment terms / longer periods to repay. It may come down to a take it or leave it, possibly new elections in Greece ( until we get the "right" result ).

I feel sorry for the ordinary Greek people. Whatever happens, their lot is not going to improve anytime soon.

anyroads

[Martin Page]

To me the problem is that the Greeks have been paying themselves too much for too long and now they have to pay the piper. Dress it any way you like but they have to settle up or suffer the consequences - what ever form that may be ... interesting times

[wollie]

The Spanish election should prove interesting as if the democratic people of Spain vote in a similar fashion the bankers and Angela may have to take a bit of a hit.

[katy]

The whole of the Eurozone will take a hit. According to the Times yesterday even Spain holds 25 billion of Greek debt. You couldn't make it up

[Buffy]

We're all doomed!

[anyroads]

No, Spain the year after next.

Being serious, this Greek business may make the powers that be in Spain sit up and take notice, and when it comes to "business", join the modern world.

anyroads

[wollie]

me thinks after today "Madrid Italy" the change is coming I hope?

[anyroads]

What change is that ?

Spain going back to a 3rd country once again ?

I know things are pretty tough for the younger generation especially. Podemos however would be a disaster.

anyroads

[costakid]

Anyroads, Do you mean a 3rd world country?

[anyroads]

Oops, yes.


anyroads

[Nimrod]

A case of a nation thinking of themselves as individuals rather than as a nation and what is good for the nation.
The spanish mentality is exactly the same.

[anyroads]

Ask not what your country can do for you,
but how you can do your country !

anyroads

[Nimrod]

Precisely!

[anyroads]

"Tsipras' administration has promised to pull Greece out of a "humanitarian crisis" caused by five years of fiscal cuts with a stimulus programme estimated to be worth around 13.5 billion euros, according to BNP Paribas.
This includes hiring back thousands of civil servants, restoring the minimum wage and raising pensions, mainly among the poor.
The government says it can find the money by closing tax loopholes employed by wealthy Greeks and by cracking down on smuggling and corruption"

Good luck on that one chaps !. Why was not this done a decade ago ?( the tax loopholes ).

The Greeks have a word for it......suicide !

anyroads

[olive]

anyroads- what else can they do?

Continue to receive up to 10% of the bailout funds for actual Greek people whilst the other 90% goes back to the banks?

How can continued austerity pull them out of the mire? Come to think of it how can it pull any of the PIGFS out? (I have left Ireland out and included France)

The tax loopholes weren't closed for the same reason they aren't in Britain. It isn't in the interests of the ruling government to shaft their mates. How on earth could they continue to get ever richer pro rata if they were taxed?

As a seperate question, I wonder why the Germans haven't paid their war debt back to the Greeks? It is only a trifling 13 billion (approx).

[wollie]

I do not consider myself informed on these matters but I am hoping will be done for Greece, spain, italy and the rest as if the eu is what I think it should be the pain should be spread and the banks take a hit as it may benefit all in the long term.
If the whole thing is run by Angela and the banks what are we paying all these politicians for to implement austerity that have for the most part being caused by bad policy.

I do "rant" a bit sometimes.
I do see a change coming and hopefully I am right.

[anyroads]

If they want to be a member of a club, they should try at least to play by the rules.

The Greeks should never have been allowed to join the Euro. The simple answer, would allow them to go back to the Drachma and with the cheap currency find their own place in Europe. It would be a tragedy for the Greek people. If they think things are bad, they ain't seen nothing yet.

Alas there are no simple answers. Greece today, perhaps Spain within five years.

anyroads

[anyroads]

The "road show" is not doing too well.

Seems the Germans want to send a message to podemos, and anyone else out there trying their luck.

It really is a kick in the pants to the new Greek government, that the best offer they have had from Germany, is 500 tax inspectors. Perhaps that is what they really need.

Interesting to see how this pans out.

anyroads