Greece votes 'no' to EU bail out - GREXIT?

originally posted by: kitzik
Africans and Asians standing at the gates of Rome, Turks at the gates of Vienna lol.

Human sacrifice, dogs and cats living together...mass hysteria.

originally posted by: AugustusMasonicus

originally posted by: kitzik
Africans and Asians standing at the gates of Rome, Turks at the gates of Vienna lol.

Human sacrifice, dogs and cats living together...mass hysteria.

Well we told them about crossing the streams,but did they listen? Nooooooooooo.

a reply to: AugustusMasonicus

Human sacrifice, dogs and cats living together...mass hysteria.

Probably it won't go back to animalism. Most of the immigrants are already muslims.
I was large at giving Northern Europe so much space, the border may be drawn around around Tours, Poitiers.
en.wikipedia.org...

originally posted by: kitzik
Probably it won't go back to animalism.

If Zuul shows up it will.

originally posted by: AugustusMasonicus

originally posted by: kitzik
Probably it won't go back to animalism.

If Zuul shows up it will.

The reaction from the EU today.

www.telegraph.co.uk...

The European Central Bank has tightened liquidity conditions for the Greek banking system following the landslide victory for the Leftist government in Sunday’s referendum.

The central bank continued its freeze on emergency liquidity assistance (ELA) after Germany issued a humiliating ultimatum to Greece, warning that the country would be cast adrift and left to go bankrupt unless it agreed to much deeper concessions than anything offered so far.

Sigmar Gabriel, the German vice-chancellor, said the landslide rejection of EU austerity demands in the Greek referendum changed nothing, demanding that the Left-wing Syriza government must accept further belt-tightening without any prospect of debt relief if it wishes to remain in the eurozone.

“The final bankruptcy now appears imminent,” he said. The Greek leaders have been told that they have a deadline of Tuesday afternoon to come up with far-reaching proposals.

The draconian terms followed Greek prime minister Alexis Tsipras' move to rally five political parties behind a national unity declaration.
It called for “substantive talks” on debt relief, an investment blitz to fight mass unemployment and an immediate shot of liquidity for the country’s banking system.

The show of unity marked the start of what increasingly looks like a national emergency government, though it may have come too late to prevent an implosion of the banking system and a rapid slide towards "Grexit" over coming days.

The bankers are demons who prey on the sinful.
The Greeks were led by, and elected, corrupt Greek politicians all the while tax dodging like it was a national sport.

If the Greeks were a responsible and noble people none of this would be happening.

I understand the hate of bankers, but why are we hating demons for being demons (that's like hating a dog for being a dog) instead of looking at the masses of people who allow them to exist and thrive in the first place?

More talks today.

www.telegraph.co.uk...

Jean Claude Juncker says the purpose of today's meeting is to restart talks, "turn down the rhetorical volume", and offering the Greek government a chance to "explain how it sees us extricating ourselves from this programme."

A solution "won't arrive overnight". "We have to put our little egos, and in my case a very large ego, away," he says.

He says he does not "understand" the meaning of the Greek vote, saying the deal voted for was not on the table.

"My aim is to prevent Grexit. I am against Grexit."
He is wounded by the criticism he has received since a speech last week.

"It is time to stop these outbursts, this shooting from the hip. It is unacceptable for the European Commission to be deemed terrorists by the Greek government. That is not the kind of Europe we want. We have tried hard and if only everyone else had tried as hard."

He gives a lengthy defence of a speech last week, in which he warned Greeks not to "let down the European Union".

He also attacks newspaper reports that he has disappeared.

"I have not disappeared. I come to the European Parliament to talk about the referendum. This is the home of democracy," he says.

He says it is "extraordinary and unacceptable" that he cannot talk about Greece.

"I am not a technocrat."

Manfred Weber, a senior German Conservative, says they must respect the demands of all EU states. There are rules "that need to be respected and applied."

"Sunday was not a good day for Europe. It harmed Europe."

Today marks another Eurogroup meeting with finance ministers and a eurozone summit scheduled for after - the idea being that today will be a day of action, and a deal will be made.

The Greek leaders have been told that they have a deadline of this afternoon to come up with far-reaching proposals. But noises coming out of the ECB, Germany and EU leaders does not indicate total optimism about today's outcome.

Greek banks remain closed, and will remain so for at least another two days.

French prime minister Manuel Valls has said that the basis for a deal with Athens was there.

He said: "France is convinced that we can't take the risk of Greece leaving the eurozone," a move that would affect economies across the globe, Manuel Valls told French radio. "The basis for a deal exists... There is no taboo subject when it comes to (Greek) debt, on the restructuring."

People like to spend money but when it's time to grow up and pay their bills and balance their budgets they whine saying the elite are picking on them.

Greece as opposed to the USA apparently has some intelligence related to money. We all know that eventually, an economy will crash including the stock markets. In the USA, that is "pushed off" by increasing debt and printing money. So to borrow a phrase typically used about addiction..."eventually you will hit rock bottom, the question is from how far above bottom you will fall and the length of the fall determines the amount of damage you will endure".

That is a smart choice the Greeks have done for themselves. Bailouts are takeovers and the people in Greece know it.

I hope they wont succumb to the fear campaign that is heading their way.

This is not the easy way out, but the best way out in the long run.

Good luck to all Greeks and keep your heads up.

originally posted by: bitsforbytes
That is a smart choice the Greeks have done for themselves. Bailouts are takeovers and the people in Greece know it.

I hope they wont succumb to the fear campaign that is heading their way.

This is not the easy way out, but the best way out in the long run.

Good luck to all Greeks and keep your heads up.

Yes the best way to deflect attention from ones screw up is to demonize the other people

Reports from today.

www.telegraph.co.uk... y-euro-MPs.html

Athens submits three year rescue request after Alexis Tsipras is torn apart by euro MPs
Greece stares down the prospect of banking collapse and a humanitarian crisis unless it manages to come up with credible reforms by the end of the week

As Bruno mentions, the Greeks have plenty of hoops to jump through before then. They including setting out a list of "prior actions" (legislative plans to pass neccessary reforms), which have to be discussed by finance ministers, gain the consent of the IMF, and then find its way pass the Bundestag. Meanwhile, the ECB will probably have to keep ELA in place until at least the weekend to stop the banks from going bust.

ECB's Noyer: Greece could descend into riots

Greece will descend into "riots and chaos" if no deal to secure its euro future is found, Christian Noyer, the governor of France's central bank and ECB board member has, warned today.

He has also said ECB will not continue their emergency cash lifeline for Greek banks indefinitely.

Henry Samuel in Paris reports

"The Greek economy is on the brink of catastrophe. A deal absolutely must be reached on Sunday because it will be too late after that and the consequences will be grave," France's central bank governor told Europe 1 radio, adding that "there could be riots... and chaos in the country".

Mr Noyer, a member of the ECB's governingi council, added it was "impossible" to re-open Greek banks while confidence was so low, saying there would be an "immediate run" if they did open for business.

Noyer said Greece’s ECB lifeline, which has stretched to €89bn in recent months, could not be carried on indefinitely.

"We have rules and we have interpreted the rules to their limit to maintain a lifeline to Greek banks, but we cannot continue indefinitely to increase the risks we are taking," he said.

Noyer insisted, however, that Grexit "would not spell the end of the eurozone".

a reply to: theabsolutetruth

Well the greek people are getting what they wanted SO if the ship sinks...let it. WOn tbe the first time Greece has burned.

a reply to: theabsolutetruth

Who is too big to fail now? Hilarious!

but the IMF suggests the next step might be negotiating debt relief, a key demand by Prime Minister Alexis Tsipras.

www.cbc.ca...


And that's why we won't see greece leaving the eurozone in the long term. But:

Having previously insisted that a No vote on the lenders’ last terms would see their country forced out of the euro, Schäuble told the Bild newspaper that the choice before them on Sunday was between holding on to the euro and being “temporarily without it”.

It was far from clear what Schäuble had in mind, but economists have mooted the notion of a period in which Greece might go back to its national currency, the drachma, while its economy recovered.

www.theguardian.com...


Seems like this vote has brought some politicians back from a very sinister, to a more sane state of mind. Guess we need more referenda.

originally posted by: PublicOpinion
a reply to: theabsolutetruth

Who is too big to fail now? Hilarious!

but the IMF suggests the next step might be negotiating debt relief, a key demand by Prime Minister Alexis Tsipras.

www.cbc.ca...


And that's why we won't see greece leaving the eurozone in the long term. But:

Having previously insisted that a No vote on the lenders’ last terms would see their country forced out of the euro, Schäuble told the Bild newspaper that the choice before them on Sunday was between holding on to the euro and being “temporarily without it”.

It was far from clear what Schäuble had in mind, but economists have mooted the notion of a period in which Greece might go back to its national currency, the drachma, while its economy recovered.

www.theguardian.com...


Seems like this vote has brought some politicians back from a very sinister, to a more sane state of mind. Guess we need more referenda.

You think so?? Well the Greek Parliament just passed a bill that is almost exactly like what the Greek voters rejected. So the Greek Parliament now just needs to see if the EU a proves it. Not really sure how the Greek government expects not to piss off the people. I'm expecting a lot of resignation once the deal is approved aa everyone runs for cover.

a reply to: dragonridr

You see them protesting en masse right now?

-The 2010 program only served to raise debt and demanded excessive fiscal adjustment.
-The financing to Greece was used to repay foreign banks.
-Growth-killing structural reforms, together with fiscal austerity, have led to an economic depression.
-Creditors have learned nothing and keep repeating the same mistakes.

blog-imfdirect.imf.org...


At least the cat is out of the box by now, we will see how this plays out.