Financial Crisis in Greece

[JJAskiz]

Thanks Beh and yeah, they are definantly not taking the bailout talks seriously because I think they have a trick up their sleeve but once Hell Ass defaults on their countries dept then they will be as poor as Shitardbania (Albania) and will also become the 2nd Ghetto of the Balkans too just like Shitardbania (Albania) who ranks first.

[Amphipolis]

Apparently some businesses that are still up and running in Hell Ass are already issuing receipts in Drachma not Euro
http://macedoniaonline.eu/content/view/27684/46/

Uh... This receipt is in Euros, not in drachmas. Those MINA guys are geniouses.

[Philosopher]

Looks like Greeks are politically stupider than even Macedonians! Apparently the deal they finally submitted is harsher than the one the referendum voted no on, go figure. This is probably why the finance minister quit.

http://www.telegraph.co.uk/finance/e...rity-deal.html

It almost appears (lit. it does appear) as if this whole episode was a charade. It was Junker who said that the Greek referendum was irrelevant; now we know why. The Greek PM did not intend to win that referendum. To save political face, he wanted the Greek nation to vote in favor of it, that way history did not record him rescinding campaign promises. This did not happen. Either way, whether the referendum was charade or not, Greece is not going anywhere.

[George S.]

The referendum was a cartoblanche for the govt to do what it wanted,It wasn't just the no vote.They know sooner or later they have to toe the creditors tune.He who has the pipe plays the tune.THe trick was yo get most of the people to give their support and viurtually the govt can do what it likes.Its like giving them a huge mandate.

[Gocka]

It could be that the PM intended it to be a yes vote, but polls had the yes and no at dead even, so it would have been a risk on his part from the get go. In the end it was a shock large margin No.

I don't believe that narrative only because it could have gone either way.

What I think is that it was typical Greek arrogance. I think the PM totally miscalculated his hand. He thought Europe would care that the Greek people were behind him, and they didn't.

He played a game of chicken and lost. The Troika was banking on the Greek population to force the PM to agree to some kind of terms on the threat that they would get booted from the Euro. The PM thought if he showed Europe that the Greek people reject austerity and are not afraid of leaving the Euro, that the Troika would take their threat seriously and lessen their demands. They voted No, the PM said look we are not afraid to leave the Euro, then the Troika said go ahead, its your funeral. Then the PM scrambled to put some kind of deal together because they gave him a couple of days to do it. He had only one shot so he had to give them something he thought they would accept, so they ended up giving the Troika more than what they wanted in the first place so that they don't risk being rejected for submitting a light offer.

What funny is that the Troika might reject their proposal anyway because they don't trust Greece to implement anything they promise.

All I see is the same old arrogant Greeks, overvaluing themselves and over estimating how much others value them.

It almost appears (lit. it does appear) as if this whole episode was a charade. It was Junker who said that the Greek referendum was irrelevant; now we know why. The Greek PM did not intend to win that referendum. To save political face, he wanted the Greek nation to vote in favor of it, that way history did not record him rescinding campaign promises. This did not happen. Either way, whether the referendum was charade or not, Greece is not going anywhere.

[JJAskiz]

Uh... This receipt is in Euros, not in drachmas. Those MINA guys are geniouses.

I just looked at the picture and you are right, the stooges at MINA News are geniuses.

LMFAO!

XD

[George S.]

They reckon they wanted to take people's reall issues away that way they opened a pandoras box to do as they please and no can question them.Because the yes or no vote would have made little difference they preferred the conservative no.

[Stojacanec]

The greeks did not help themselves with the referendum and the no vote. If the creditors and Europeans didn't trust them before, they definately won't trust them now.

I don't know why it's hard to see that the balkans are doing it tough and why tough economic measures shouldn't apply to the greeks.

[Bill77]

Greeks were outraged to be denied a deal that they themselves rejected a week ago.
Greek logic......say OXI and then send same proposal and when it gets denied blame others ...

Just seen an interview of locals in Athens. One lady comments how every family member she talks to mentions how they can't sleep at nights due to their countries financial crisis.....

Macedonia had more than a few sleepless nights in the 1990s when Greece introduced a total embargo and vetoed our NATO membership (who still do to this day)
But, maybe it was worth being needlessly publicly humiliated by Greek whims over more than two decades, and then see these last few weeks.

Couldn't happen to more deserving people.......

[Risto the Great]

Greece has agreed to tough reforms after marathon talks with eurozone leaders in return for a three-year bailout worth up to 86 billion euros ($129 billion).

http://www.abc.net.au/news/2015-07-13/eurozone-leaders-say-agreement-reached-at-greece-talks/6616448

When "Oxi" simply becomes "OK"

Silly Greeks. Still playing games until the last minute. Now the real fun begins in my mind. Greece will have to become a responsible nation. Perhaps no more plates being smashed for a while ...

[Bill77]

I hear This time around as been a tougher proposal than the oxi one.
Not very intelligent these modern Greeks. And for Tsipris....what could have been if his wish for a Yes vote eventuates. From could have been a hero....to zero.

Anyway, either way it's a humiliation for Greece. A humiliation So necessary.

[Phoenix]

... Greece will have to become a responsible nation. Perhaps no more plates being smashed for a while ...

Pigs arse...nothing will change.
The greeks are thieves, they'll just work another scam to defraud the EU...

[Gocka]

As far as eurozone leaders are concerned, these conditions are necessary, but not sufficient, and they will not tolerate any backsliding.
As their statement says: "The above-listed commitments are minimum requirements to start the negotiations with the Greek authorities. However, the euro summit made clear that the start of negotiations does not preclude any final possible agreement on a new ESM programme."
The ESM is the European Stability Mechanism, the eurozone's rescue fund. The document says that the summit "takes note of the possible programme financing needs of between €82bn and €86bn".
It also "takes note" of Greece's "urgent financing needs" of €7bn by 20 July and another €5bn by the middle of August.
You might wish to take note of the fact that so far, the EU has not yet firmly undertaken to pay out one cent to Greece.
For now, everything hinges on whether Greece's leftist Syriza government can get this package approved by the country's parliament.
By Wednesday night, Greek MPs have to vote on a raft of measures covering the VAT increases, the pension changes, the independence of the country's national statistics institute and commitments to "fiscal consolidation".
Only then can final agreement on the latest bailout be reached

This is priceless. They have completely capitulated only so they can open the door to actually enter talks to negotiate an agreement. The most they will get right now might be a small amount to pay its upcoming debt payment to the IMF. This is far from finished. This will not be an easy pass through the Greek parliament and I think it would be even harder to get past the Greek people who were overwhelmingly against austerity, and this is much more austerity than they were already not willing to accept.

Even if it does get through parliament wait until these measures start taking effect. Greece's economy is already down 25% and this will cause it to decline even more.

The real pain is yet to begin and I doubt the current government will survive given they just went back on the only promise that got them elected in the first place.

[Bill77]

Even if it does get through parliament wait until these measures start taking effect. Greece's economy is already down 25% and this will cause it to decline even more.

The real pain is yet to begin.....

http://i.imgur.com/mSFXk2a.gif

[Risto the Great]

Pigs arse...nothing will change.
The greeks are thieves, they'll just work another scam to defraud the EU...

https://www.youtube.com/watch?v=KjmjqlOPd6A

It will cost the EU much more to cut them loose. The cost of money for the other shitful nations in the EU would rise and make it impossible for them to sustain themselves. I reckon Greece will finally be pushed into the 20th century. (yes, 20th)