Anti Austerity win in Greece

Rothschild Banking cabal Defeated By Iceland’s ‘We The People': Key Lesson From Iceland Crisis: “Let Banks Fail”

“Iceland did the right thing by making sure its payment systems continued to function while creditors, not the taxpayers, shouldered the losses of banks,” says Nobel laureate Joseph Stiglitz, an economics professor at Columbia University in New York. “Ireland’s done all the wrong things, on the other hand. That’s probably the worst model.” Ireland guaranteed all the liabilities of its banks when they ran into trouble and has been injecting capital — 46 billion euros ($64 billion) so far — to prop them up. That brought the country to the brink of ruin, forcing it to accept a rescue package from the European Union in December. *** Countries with larger banking systems can follow Iceland’s example, says Adriaan van der Knaap, a managing director at UBS AG. “It wouldn’t upset the financial system,” says Van der Knaap, who has advised Iceland’s bank resolution committees. Arni Pall Arnason, 44, Iceland’s minister of economic affairs, says the decision to make debt holders share the pain saved the country’s future. “If we’d guaranteed all the banks’ liabilities, we’d be in the same situation as Ireland,” says Arnason, whose Social Democratic Alliance was a junior coalition partner in the Haarde government.

Greece should look to Iceland as an example of how to go.

Greece will survive...however it may....but it will survive this...
Did the lack of money repeal all natural laws?
Food will still grow there....farms will still produce......they'll still be drinking that horrible tasting wine and eating sovlaki.....
The greek people were brought to us by the Spartans the Athenians and other cultures on which much of our own has been founded.....
The reality is that they can survive...have survived.....will survive for a long time to come.....
Governments, banks, ideas, and the plans of mice and men fail.....but the people will continue.....

the Greeks actually have one of the healthiest diets in the world, lots of fish, lots of fresh olive oil. I think in some areas they have the healthiest people on the planet, who live the longest. a reply to: stirling

This is a very difficult situation for Greece. Doing an "Iceland" is not an option for them as the scales are completely different. Equally, they can't simply default on all their debt - look at the mess Argentina is in for trying that approach. Greece has caused itself huge problems over the last 40 plus years.

On the other hand, i watched an interview last night with the favourite to become the new Foreign Minister as what he was saying makes a lot of sense - basically that Greece should never have received some of the loans it did as it was already bankrupt. As he pointed out, bankrupt people or companies are not offered terms they can't repay so why is it different for a nation? I didn't realise it was quite as stark as it is, but he was saying that out of the last batch of loans (over 50 billion) Greece only got less than 10 billion of it - the rest going to creditors, etc.

That makes no sense and simply saddles insurmountable debt on them as a nation. The guy in the interview wasn't talking about running away from the debts, he was talking about having sensible debts and repayment plans. He did want some writing off (ones they should never have been loaned).

This victory is being touted by "the Left" as great news. I think we should see what state Greece is in in a year before making such a pronouncement.

Tsipras allready gave us from 535 euro, to 751 euro minimum wages increasement. All citizens, unemployed or not, will have health care and many other things that they promised. The truth is, they allready did it and its the only government that did what they promise and soooo fast.. In a matter of hours. They also cancelled all the national treasury sales.. such us ports, hisorical monuments, waters, etc... And those that allready taken, will come back a a national thing.

Germans and scandinavian countries allready are freaked out and they allready start threatening....

People here allready having lots of fun

Pictures like :

pic 1

and

drachma pic

and as you may know, EU announced yesterday, that EU is considering more sanctions for Russia and its for the first time in our EU history, with Mr tsipras, he reported that announcement that is against our country point of view and we are not going to take any actions against Russia and that we have to come to a more dymocratic agreement. Russia also gave us some goodies, they will loose the boycott for our Ellenic products such as fruits and fish and the Russian gass will be transferred from our country to the rest of EU. Russia gave lots of boycotts against EU because of the most recent sanctions against Russia.

link

and as you many know or dont know. We are not going to accept any loan again from any troika or eu for the crisis thing, so no more bills. And I have a very interesing interview about it from RT channel from Mr Varoufakis the current minister of economics in Hellas. As you may know, Mr Varoufakis is also the economist in VALVE!!! steam video games...

www.eurogamer.net... socialoomph

a reply to: Ploutonas

O yes, they did, they did. But they even don't have the money. That's why Greece got into trouble.

I wish, the leftists could show the capitalists a new way out of this mess. But then they built a coalition with the right wing party... What is that?

In a few days they need more money from the EU. Then the party is over. It is not good to bite the hand that feeds you.

Putin will welcome you in the EEU. Good luck!

Early days yet, but early setbacks for Greece.

Greek banks hammered after ECB snub

Those celebratory scenes in Athens last week may have been a bit premature....... Varafoukis may still be successfull but the early signs aren't looking good....