Greece: 'There's No More Left To Cut'

Originally posted by Macdon
Greece needs to default, arrest the politicians and banksters that brought her to this mess and try to do what Iceland did.

The Greek people are not in debt, the Illuminati installed government is and they need to be tried in a court of law of the land.

Germany and France can go and get farked. When Germany was wheel-barrowing its worthless cash in the 20s and 30s and then started a murderous war in the 30s which killed 70 million people, Greece forgave them their debts after the war to rebuild. All this despite Germany stealing 70 billion dollars of Greek gold and murdering 700,000 Greeks.

GREECE DEFAULT NOW! DO IT! DO IT NOW! (Taken from Arnie’s quotes.)

Good idea. Shutdown on Friday. Print Drachmas over the weekend.

Then restart on Monday.

Good news: Greece won't have to make extremely high interest payments anymore.

Sorry, we failed. We are jumping out of the Euro. Good luck!

We are starting over and reorganizing at the same time.

No more band-aids! Bye!

Originally posted by Eurisko2012
Good idea. Shutdown on Friday. Print Drachmas over the weekend.

Then restart on Monday.

Good news: Greece won't have to make extremely high interest payments anymore.

you are joking right?

Who is going to accept this currency from a bankrupt government? They'll still owe 100 billion Euros - which, converted into drachma that no-one trusts should be in the quintillions........think Germany 1923 or Zimbabwe 2007.

ATM they are paying what - 7% or thereabouts? If they did this they'd be up to 200% overnight I reckon

We are starting over and reorganizing at the same time.

No more band-aids! Bye!

Yeah - band aids won't cut it (sic) - they'll need a coffin instead.

Originally posted by theubermensch
reply to post by Aloysius the Gaul

 

The 14th salary works like this: Greek workers get their annual salary in roughly 14 installments. On top of 12 monthly payments, employees receive double their paychecks in December, right in time for Christmas consumerism. They also receive half of their monthly spending in the spring to shell out on goods for Easter. Then they get another half-salary boost in July, before their traditional summer vacation. But the 14th salary system isn't the problem with the Greek economy, says Elias Papaioannou, an expert on international economics at Dartmouth College, "it's just an alternative way to distribute."

money.cnn.com...

13th and 14th is good for the economy. You want them to have only enough for basic needs?

Dreamland - a monthly paid salary is 12 payments - anything over that is a bonus - google search

The rest of the world understand this and Greece's economic system is, obviously, not immune to reality either.

reply to post by Aloysius the Gaul


They have 2 choices: More band-aids or solve the problem.

What do you think they should do?

Like any country that got saddled with an even larger debt thanks to IMF/World Bank/Some Other Bunch of Evil Money-Grabbing Bastards ever helped? Ooops, I mean bail out of course...

Originally posted by Eurisko2012
reply to post by Aloysius the Gaul

 

They have 2 choices: More band-aids or solve the problem.

What do you think they should do?

solve the problem - stop spending more than they are earning, and pay back their debt. Simply replacing Euros with Drachma will not do that - all that will happen if that is all they do is that the Drachma will become the "Zimbabwe Dollar" of the 2010's.

Increasing productivity, creating more wealth, cutting their expenditure to fit their income - these will accomplish it.

Nothing else.

Originally posted by LightSpeedDriver
Like any country that got saddled with an even larger debt thanks to IMF/World Bank/Some Other Bunch of Evil Money-Grabbing Bastards ever helped? Ooops, I mean bail out of course...

that is simplistic nonsense - there was a reason they needed a bailout - they were spending more than they weer earning.

The bailouts did/do not increase debt - they require creditors to write off 10's of billions of Euros worth of debt

Originally posted by Aloysius the Gaul
No more left to cut?

How about those 13th and 14th monthly pay bonuses??

Why dont you go to your boss and ask for a lower salary...like lets say about 950 dollars per month!!!
Thats about the median salary in Greece, now going down to around 600, and the price of living is probably more expensive here than where you live.
There is a saying: before you speak you should dip your tongue in your brain (roughly translated)
No offence...could you live like that?

Originally posted by mikepopy

Originally posted by Aloysius the Gaul
No more left to cut?

How about those 13th and 14th monthly pay bonuses??

Why dont you go to your boss and ask for a lower salary...like lets say about 950 dollars per month!!!
Thats about the median salary in Greece, now going down to around 600, and the price of living is probably more expensive here than where you live.
There is a saying: before you speak you should dip your tongue in your brain (roughly translated)
No offence...could you live like that?

Originally posted by mikepopy

Originally posted by Aloysius the Gaul
No more left to cut?

How about those 13th and 14th monthly pay bonuses??

Why dont you go to your boss and ask for a lower salary...like lets say about 950 dollars per month!!!
Thats about the median salary in Greece, now going down to around 600, and the price of living is probably more expensive here than where you live.
There is a saying: before you speak you should dip your tongue in your brain (roughly translated)
No offence...could you live like that?

Yep.

And it would suck.

But that is reality for Greece - they have overspent massively for years, and now they have to pay it back - just like you or I would.

Why should they be allowed to over-borrow and get away with it? do you think you or I would be allowed to? Or is it OK for them to do it because they are a country?

reply to post by Aloysius the Gaul

Why should they be allowed to over-borrow and get away with it? do you think you or I would be allowed to? Or is it OK for them to do it because they are a country?

We can go file for bankruptcy.
Greece should be allowed to do the same.
Corporations do it all the time too.

reply to post by theubermensch


They can if they want to - it is the "default" thing that everyone is talking about happening if the bailout did not happen.

But they also know that that will be even worse than an austerity package - it will involve pretty much exactly the same scenario for a putative drachma - no one will trust it, no one will be willing to accept it for trade - it will be worthless and to do any business Greece will still end up paying massive interest rates to borrow currencies that people will accept and the citizens will be paying billions for a loaf of bread.

From what I see of it, its just a big game.
Theoretically Greeks are the least submitted as people because of their mentality, and the game is to submit them.
The thought behind it is that if the Greeks are submitted, then they can submit anyone.
I believe its a sort of experimentation, that if it works out, then they (whoever they are) will continue on a global scale.
They are also in such a hurry because Greece has many minerals (plus rare ones), gold and uranium in its soil, and generally its floating on oil.
Greece also has 3 or 4 very large pockets of gas that are 95% pure. That means that its ready for use.
So in the near future, even if they go back to the drachma, because of the oil, it wont really matter. The drachma will have its strength because of what Greece will be able to offer.
These are some of the reasons...