Financial Crisis in Greece

[Voltron]

Its high time the PIIGS start revolting. We would have no problems in showing them how its done

What really gets me is that this move is "welcomed" in Brussels. Instead of those bastards voicing out their opinions on these saboteur credit agencies they welcome their members into the arms of the devil. Fucking pathetic

[Risto the Great]

C'mon Voltron, the EU is solely about DEBT. By mortgaging every member country, the EU has complete control. There is nothing to guess on this issue and any other way of looking at it is naive. Macedonians are thinking of changing their name to join this sick organisation.

[Voltron]

C'mon Voltron, the EU is solely about DEBT. By mortgaging every member country, the EU has complete control. There is nothing to guess on this issue and any other way of looking at it is naive. Macedonians are thinking of changing their name to join this sick organisation.

Bingo. That is exactly what is happening. That is also why Im in utter disgust and disappointment with what is happening. Nobody cares anymore, its all about money.

[Onur]

Both EU and IMF have their own limits. I just checked the GDP of these three; Greece have 322 bn dollars, Ireland 173 bn and Portugal has 245 bn. So, these 3 are small to medium sized economies. Thats why EU and IMF can handle these three but Spain`s GDP is 1.364 bn dollars and if Spain asks for bailout, then their rescue package would be at least 5 times bigger than Greece or Portugal since only the city of Madrid`s economy equals the economy of whole Greece. So, i think it wouldn't be irrational to estimate that if Spain asks for bailout than their bailout package would be around 400 bn Euros. Then who will provide this gigantic amount of money to Spain? Since nearly every economists in the world says that Greece wont be able to payback his debt to IMF and EU, then i wonder how come they will help Spain?

We will see how powerful is EU if a big economy like Spain asks for bailout because the former three, Greece+Portugal+Ireland`s total economy was not bigger than the city of Frankfurt or Paris.

[Voltron]

Both EU and IMF have their own limits. I just checked the GDP of these three; Greece have 322 bn dollars, Ireland 173 bn and Portugal has 245 bn. So, these 3 are small to medium sized economies. Thats why EU and IMF can handle these three but Spain`s GDP is 1.364 bn dollars and if Spain asks for bailout, then their rescue package would be at least 5 times bigger than Greece or Portugal since only the city of Madrid`s economy equals the economy of whole Greece.

We will see how powerful is EU if a big economy like Spain asks for bailout because the former three, Greece+Portugal+Ireland`s total economy was not bigger than the city of Frankfurt or Paris. Spain is totally different tough

Its not about asking, its about being cornered into an IMF solution. If you have credit agencies downgrading you everyday then you have no choice. Those are the ones that are the cause to this, IMF is seen as the solution to this. Its pure entrapment and blackmail in its finest.
I just cant understand why we dont call their bluff. Let see how they want to play. We must tell them to fuck off and default. Id like to see those bastards scramble then.

[Onur]

Its not about asking, its about being cornered into an IMF solution. If you have credit agencies downgrading you everyday then you have no choice. Those are the ones that are the cause to this, IMF is seen as the solution to this. Its pure entrapment and blackmail in its finest.

I just cant understand why we dont call their bluff. Let see how they want to play. We must tell them to fuck off and default. Id like to see those bastards scramble then.

What you expect from credit agencies? Greece is a bankrupt state and ofc they will downgrade your rating. They were even late to do this by keeping Greece`s credit rating with A+ grade `till the announcement of Papandreu about Greece`s financial situation.

You cant tell them to fuck off. You are in Euro zone, your economy is being controlled by EU and your money comes from Brussels. You have to obey them and do whatever they told you so. If you wanna say fuck off, then you gotta leave Eurozone and start using drahma again and then leave EU too. If you do this, then Greece returns to 1970s. This means bye bye mercedes, Bmws, free EU funds to fck around and to drink more Uzo, break more dishes in Salonika taverns. Maybe this will be inevitable end of Greece in near future, we will see...

[Voltron]

What you expect from credit agencies? Greece is a bankrupt state and ofc they will downgrade your rating. They were even late to do this by keeping Greece`s credit rating with A+ grade `till the announcement of Papandreu about Greece`s financial situation.

You cant tell them to fuck off. You are in Euro zone, your economy is being controlled by EU and your money comes from Brussels. If you wanna say fuck off, then you gotta leave Eurozone and start using drahma again and then leave EU too. If you do this, then Greece returns to 1970s. This means bye bye mercedes, Bmws, free EU funds to fck around and to drink more Uzo, break more dishes in Salonika taverns. Maybe this will already happen in near future, we will see...

Im familiar with the details Onur. Of course it means leaving the Eurozone. What have the brought anyway ? The only time it was beneficial to be in the Eurozone was when the US went under a couple years ago. Uncle Sam prints out a couple trillion dollars and "voila" problem solved. We dont have that luxury here.

Il take the drachma and the mediocre life that comes with it on any given day. Just give the Greek ppl the choice to choose. We will see then who wants what.

[Voltron]

And regarding the Credit Agencies. If you think they dont have an agenda, than your more naive than i thought.

[Onur]

Ofc all international financial agencies have their own agenda, like the IMF of US+Jewish money barons but that`s irrelevant in your case. Like i said, Greece is in their hands now and you have no other choice. Maybe your only other option is some kind of people`s revolution which would change Greece`s path in the international scene.

[Voltron]

Ofc all international financial agencies have their own agenda, like the IMF of US+Jewish money barons but that`s irrelevant in your case. Like i said, Greece is in their hands now and you have no other choice. Maybe your only other option is some kind of people`s revolution which would change Greece`s path in the international scene.

No. Our govt is in their hands, and our govt is in our hands. Time will tell when we have had enough of this charade. Regarding Greece's path in the interntional scence. For starters we can lead the way against these greedy parasites. We can start here and spread the rioting and chaos throughout the southern European basin. We will take it to them. Just a matter of time.

[fyrOM]

Papakonstantinou: Debt restructuring not desirable

http://www.idividi.com.mk/English/World/677484/index.html

Athens, 13 April 2011 (MIA) - Greek Finance Minister George Papakonstantinou told German daily Handelsblatt that debt restructuring for Greece isn΄t desirable, while it could spark contagion effects.

"Related private investors΄ losses could lead to stability problems in the Greek and European banking system," Papakonstantinou said, adding that the resulting loss of confidence would close Greece out of the markets for a long time.

"In the end, the costs would hit the real economy," Papakonstantinou said.

Possible problems resulting from the restructuring could spread to other countries, he added.

"All this makes debt restructuring for Greece undesirable," Greek Finance Minister stated.

"We know, however, that we must raise €25b to €30b in 2012 with bond issuance," he said. Greece is aware of the fact that the risk premia are still very high, he added.

[George S.]

the greeks are very good liars & at keeping the debt collectors off their backs.

[Voltron]

Papakonstantinou: Debt restructuring not desirable

http://www.idividi.com.mk/English/World/677484/index.html

Athens, 13 April 2011 (MIA) - Greek Finance Minister George Papakonstantinou told German daily Handelsblatt that debt restructuring for Greece isn΄t desirable, while it could spark contagion effects.

"Related private investors΄ losses could lead to stability problems in the Greek and European banking system," Papakonstantinou said, adding that the resulting loss of confidence would close Greece out of the markets for a long time.

"In the end, the costs would hit the real economy," Papakonstantinou said.

Possible problems resulting from the restructuring could spread to other countries, he added.

"All this makes debt restructuring for Greece undesirable," Greek Finance Minister stated.

"We know, however, that we must raise €25b to €30b in 2012 with bond issuance," he said. Greece is aware of the fact that the risk premia are still very high, he added.

Again, these jackasses would prefer to make the lives of banks easier than their own citizens. Im sure there is a hidden agenda not to default just so the banks dont lose their asses and spread.

If they really cared, they should of just do what is the inevitable. Default, pay the price for a decade and start from scratch. Its going to take more than a decade to stabalize anyway with the IMF method. I guess they prefer to make the pensioner and middle class pay the bill instead.

[fyrOM]

Hey, this thread is one year old, but Greece hasn't exploded yet. Any updated predictions?

fyrOM Post286...

Rome wasn’t built in a day and even God took 6...patients…are you in a hurry.

Well, Moon Tiki.....

Hand-made bombs planted in PASOK offices in Athens

http://www.idividi.com.mk/English/World/678704/index.html

Athens, 19 April 2011 (MIA) - Hand-made bombs were planted by unknown persons at the entrances of the political offices in Athens of two officials of the ruling socialist party PASOK.

Two of the three planted bombs exploded in the political office of the former Minister of Social Policy Fani Petralia and caused minor material damage.

Hand-made bomb in Vaso Papandreou office responsible for armament issues did not explode.

So far no one has taken the responsibility for the planted bombs.

Maybe better fire-works later, do you think?

[Voltron]

I personally would like someone to pay the bill myself. I enjoy the fact that our ministers already can not go out in public. Everytime they do they get pelted pretty good. Someone has to go to jail for this, or worse case scenario their property confiscated. If Govt officials do not set the mark for self sacrifice, than you can be sure the average Greek wont.