Financial Crisis in Greece

[Risto the Great]

I didnt come up with the stats.

No, but you declared them as the final truth. I believe the stats came form somewhere but am the first to realise that numbers do not necessarily mean anything. The proof is in the results in my opinion.

We have a large agriculter industry. Whats wrong with that ?

The Greek agricultural industry is relatively the same size (% of GDP) as Australia. We don't all walk around here looking like (or pretending to be) farmers. Nor would I suggest we all work harder here because our farmers spend long hours tending their crops & livestock.

France isn't that far behind Greece in agricultural GDP. Again, they don't all pretend to be farmers as well.

A silly set of statistics that adds to the silly reputation that Greece deserves.

[Brian]

Ok, and now the truth.

Are Greeks the hardest workers in Europe?

http://www.bbc.co.uk/news/magazine-17155304

But the statistics suggest the country has not lost its way due to laziness. If you look at the average annual hours worked by each worker, the Greeks seem very hard-working.

Figures from the Organisation for Economic Co-operation and Development (OECD) show that the average Greek worker toils away for 2,017 hours per year which is more than any other European country.

Out of the 34 members of the OECD, that is just two places behind the board leaders, South Korea.

On the other hand, the average German worker - normally thought of as the very epitome of industriousness - only manages 1,408 hours a year. Germany is 33rd out of 34 on the OECD list (or 24th out of 25 looking at the European countries alone).

Only one other OECD country's workers put in fewer hours, and that's the Netherlands with 1,377 hours.

The average Greek is working a full 40% longer than the average German.

Hahaha. LOL.LOL.LOL. LMFAO!
Oops! I think I pinched one off laughing too much.

Where's the 'checks and balance' like how many hours Greeks spend on other activities like sleeping, eating, grooming (shower, ect), travelling to work, watching TV, reading/internet and going out/socialising?

I think if you had all the stats you would find the figures to be as rubbery as the Greek finances and the Greeks are putting 3 days activities into 1!LOL. I better be careful or I might piss myself.

When the 'other activities' hours come in SO low to tally up with a 24 hour day minus all their 'hard work' one will be able to see the BS staring you in the face.

It is the EU's intent to keep Greece in the EU as long as the EU wants to keep milking the rest of the EU countries under the pretext of saving Greece/EU unity/the Euro/the financial system which means the EU needs to sell the idea ie counter the negative ideas being aired ie why spend an absolute fortune saving a bunch of good-for-nothing layabouts.

Greece can't counter ANY negative publicity herself - as a proven liar (like Phoenix) she has NO credibility left what so ever. Further people are reminded that the Greeks could not finish the Olympic Games' venues on time - remember the TV news saying Western, and particularly Australian (being the previous organising groups ready on hand), help was needed to get them built on time and also showing some painting still going on while guests were arriving in the stadium?LOL.

It HAS TO BE a VERY credible/respected Western media outlet (the BBC) to counter the negative claims against Greece by 'lending' their huge credibility to perpetrate the lie.

[Brian]

If there is a Euro left for Macedonia to go into one still has to ask why is Macedonia trying to get there particularly when only bad news seems to be coming from there like this new news.

Macedonia in EU = Retirement at 72

http://macedoniaonline.eu/content/view/20426/45/

Friday, 24 February 2012

The European Commission has drafted a strategic document, published for the first time by an Austrian newspaper in which it is stated all EU countries must increase the retirement age for at least 5 to 7 years in the next two decades.
Macedonia's current retirement age is 65, which is considered high. France increased its retirement age last year from 60 to 62.

The document stated that EU needs to be careful in their explanation that Europeans will still enjoy their retirement days. In other words, the document suggests the EU needs to push the idea that Europeans will live longer, hence they will need to work longer. After their working age is extended, the EU will have more funds from taxes and will be able to deal with low productivity and older population.

"The aging of our population is a serious challenge" states the EC document entitled "White Book: Work Program for Adequate, Assured and Operational Pensions". This document is futuristic and presents a roadmap for the next 20 years. The EU Commission considers the retirement challenge as "dangerous".
All EU countries in the future will have the same retirement age. Imagine the French and Greeks working until they are 72!

For Macedonia, where average life span for a male is 74, they will fully enjoy their 2 years of retirement.

The document will be presented by Laszlo Andor, the EU representative for Social Work and Labour.

Having only 2 years retirement for Macedonians while Greeks retire at age 50 seems unfair. And Macedonia wants to be in the EU why?

[George S.]

the greeks are not lazy??Why are they wanting to work less get more money.THey want more leisure time but more money.They are lazy & don't want to pay their taxes.They cheat their tax.They steal from their employer.

[The LION will ROAR]

Greece to declare bankruptcy on March 23rd

http://macedoniaonline.eu/content/view/20454/46/

uesday, 28 February 2012


Greece wants to stay in the euro-zone. That’s clear. What is unclear, is whether it is fully willing and fully able to do what is requested from it. Germany’s finance minister said that he “will regret but respect any country that wants to leave the euro-zone”.

This passive-aggressive statement joins a long list of events that show how Germany and others are pushing Greece to declare bankruptcy. Here are more pieces of the puzzle that began 4 months ago and might culminate towards the end of March:

There is no hard evidence that Europe’s No. 1 economy has decided upon a default, but all of its recent actions point to this direction. The endless delays, extra requirements, statements and trial balloons point to this direction.

It all goes down to a lack of trust. The second Greek bailout was discussed in the infamous July 21 summit – a summit which also contained hope for a Greek Marshall Plan. The parties then made progress in the October 26 summit.

Trust was broken when the now former Greek PM Papandreou offered a referendum to approve the deal. Germany and France were furious and threatened to throw Greece out of the euro-zone for the first time in public.

Papandreou was replaced by an ex ECB banker and EU backed Papademos, but trust was never restored. A German draft discussed taking away some sovereignty from Greece. This idea was dismissed, but the Greek leaders were forced to sign a commitment to continue with austerity also after the elections.

German Finance Minister Wolfgang Schäuble was reluctant to throw more money at Greece, saying it is a bottomless pit. It’s important to remember that Schäuble is one of the most pro-European politicians in Germany. His boss, Chancellor Angela Merkel, said the she would never force Greece out.

This seems like a “good cop bad cop” game that is meant to pass the time.

The notion is backed by public opinion that doesn’t want to see more money sent to Greece and also by growing chorus of economists and politicians saying that now is a “better time to default”, after banks have been stabilized by the first LTRO. See comments about a second LTRO below.

To be fair, it’s not only Germany. French banks have stabilized and can absorb a shock. In addition, the reluctant attitude by the IMF also shows that it is on the same page.

Unconfirmed reports have floated, saying that Wall Street Bankers are planning on a Greek default on March 23rd.

[George S.]

that's it they are bankrupt & due to get the flick from the eu.

[Daskalot]

Greece is bankrupt, Standards and Poor downgraded them yesterday to the lowest credit ranking which equals bankruptcy.

Now it is time for the Greeks themselves to grasp it.

All money in the latest rescue package is not meant for Greece but rather to save Western banks, ie creating a firewall paid for by the European taxpayers and sending the bill to Greece.
The Greeks will never be able to repay the debt due to their flawed inefficient corrupt system and laziness, they have been used as pawns.
This is the greatest robbery of the taxpayers in Europe made by the bankers using Greece as a scapegoat. Wake up and smell the Greek coffee.

Or when the CDS are to be paid by the insurers, ouch, no money in the world will cover it.

[Brian]

Greece is bankrupt, Standards and Poor downgraded them yesterday to the lowest credit ranking which equals bankruptcy.

Now it is time for the Greeks themselves to grasp it.

That's exactly right Daskalot.

Ages back in this thread I remember reading one of the Greeks saying when is this 'Greece is Ready to Explode' going to happen. With this last turn of events by S & P I guess the answer is "Not to fare away - tick tock".

Greece to declare bankruptcy on March 23rd

Not that I know any special information but because this default is orchestrated by the West (it didn't 'just happen') I just can't see the West ruining their Olympic Games so I think however they do decide to crash Greece it wont happen until at least half the Games are over. I guess that means there's still time for 'average Greeks' to flee even using 'Donkey Power'.


This guy's already started - maybe north to the safety of RoMacedonia or east back home to Turkey or south to their ancient homelands but the Muslim Brotherhood there might have a word or two to say about that although they do have similar entry criteria, just convert to the faith and declare you have their 'conciousness' and you instantly become Egyptian with full rights to claim history since God created it.

No wonder Dora Bakoyannis's husband got caught shifting million out of Greece

http://www.macedoniantruth.org/forum/showthread.php?t=6404

- not even Greece's own politicians have any faith in the country anymore.

I wonder if Voltron's been spotted fleeing with a stuffed suitcase of money?

Here's the Forbes article for everyone else.

Greece In Selective Default, S&P Says

http://www.forbes.com/sites/afontevecchia/2012/02/27/greece-in-selective-default-sp-says/

2/27/2012
Greece’s credit rating was cut to selective default by Standard & Poor’s after the bell on Monday, reflecting the implementation of collective action clauses (CACs) on its debt. Greece is in the middle of one of the largest sovereign debt restructurings ever and needs to secure significant private sector participation rate; CACs are designed to forcibly increase that rate.

According to S&P, the Greek government retroactively inserted CACs into the documentation of certain series of its sovereign debt on February 23, two days after the Troika agreed on the terms for a second bailout package. This retroactive implementation substantially changed the terms of the deal and diminished investors’ bargaining power in the face of a restructuring, causing the downgrade, S&P said.

Greece needs to fulfill certain conditions in order to receive the next tranche of money and avoid a disorderly default. Among those is the successful implementation of the so-called PSI (private sector involvement) deal, which is supposed to be voluntary. In practice, Greece is executing a bond restructuring that will see bondholders take an approximately 70% haircut on the net present value of their bonds while the average maturity will be significantly extended, reducing shorter-term funding requirements.

Rest of article in Link.

[Bill77]

I wonder if Voltron's been spotted fleeing with a stuffed suitcase of money?

No i don't think he would flee mainly because he wouldn't be able to afford a suitcase let alone have money to stuff.

Have you seen the movie "The Omega Man" or the rip off movie with Will Smith "I Am Legend"?

That will be Voltron walking alone through the empty streets of Athens, and he will still say "Its not that bad, life is normal here and its all exaggerated"


Then he can say literally "everone" (one being him self) is Greek in Athens, which i would still contest because i have a feeling his ancestors did not originate in Greece.

[Brian]

No i don't think he would flee mainly because he wouldn't be able to afford a suitcase let alone have money to stuff.

Have you seen the movie "The Omega Man" or the rip off movie with Will Smith "I Am Legend"?

That will be Voltron walking alone through the empty streets of Athens, and he will still say "Its not that bad, life is normal here and its all exaggerated"


Then he can say literally "everone" (one being him self) is Greek in Athens, which i would still contest because i have a feeling his ancestors did not originate in Greece.

I can imagine that.LOL.
But let's be kind, he might come up to Bitola and learn to love kebapi with hot spicy ajvar as much as he likes souvlaki with tzadziki sauce.

[George S.]

i think the banruptcy will teach them a lesson never to trust politicians again.THere is no easy way in life & to pay taxes.It's the don't ask the govt to do what you can do yourself.
Also there is no such thing as a free lunch someone has to pay for it at the end & it's the taxpayer.

[Onur]

Greece to declare bankruptcy on March 23rd

http://macedoniaonline.eu/content/view/20454/46/

uesday, 28 February 2012

They better do it already or i would feel ashamed that we miss one of our predictions from August 2011 with Makedonche;

What? 10 years? I say much less than 10 months. Wanna bet on that?

I wanna play some futurism too;
I bet they will dump you out from eurozone in less than 10 months (definitely not 10 years, i don't even think Papandrue can survive this winter as a PM), then your PM will call for an early elections for next spring and you will select Karamanlis`s party again, just as you always did for the past century (!!!)

Onur, makedoche
I WILL mark your words (again):
-Greece will have defaulted by September 22, 2011
-Greece will have returned to drachma by July 12, 2012
-Papandreou will have resigned by February 28, 2012
-Samaras will be the next Prime Minister by May 31, 2012

Anyone else?

Lets say; Greece will default and return to drachma b4 this page reaches to 120th page but i hope Cultea wont return to the forum to spam this thread to make it reach 150th page in few days

[Brian]

They better do it already or i would feel ashamed that we miss one of our predictions from August 2011 with Makedonche;

Onur can anyone play this game?

I am guessing August to October this year because of the Games.

Onur you should be a bookie.LOL
Maybe everyone should have a guess by weekly increments?

[Voltron]

Onur can anyone play this game?

I am guessing August to October this year because of the Games.

Onur you should be a bookie.LOL
Maybe everyone should have a guess by weekly increments?

Im a betting man, it wont happen on March 23 or anytime soon.
Anybody that trades FOREX (which I do) can tell you this is how investors make money. Have a few speculators make a couple negative statements sell short on the Euro, Bailout terms pass in Greek and German parliament Euro goes up. Greece isnt going to go bust, the Europeans dont want us to either. They know this would start a contagous trend across the EU.

And just like the Olympics when they were placing bets we werent going to be ready even on the eve of the opening ceremony. The media ended up apologising to Greece for their pessimism and ended up calling them Dream Games. This will be no different.

[Phoenix]

Vol, that's the problem with the 'greeks'...life is always a bit 'dreamy', eventually when you wake up, that warm feeling of the Aegean lapping against your legs will be the cold stench of pissing in your own bed...