Financial Crisis in Greece

[Prolet]

Onur, I grew up with it actually, its my father's specialty but i must say that not alot of Macedonians know about it but its slowly getting through. It came from my grand parents and its very popular in some families in the Skopje,Tetovo,Gostivar and Kumanovo region. In Ramstore you can buy it but its much better if its made properly and its got alot of vitamins too.

[Prolet]

Spartan, This is the stupid thing here, i have friends who live in Germany and they go to Holland to rent DVD's from a video shop. Why is it a shame if Greeks go to Turkey or Macedonia to do shopping or whatever? We have whole tours and buses set up, just so they can go to Solun for the weekend, do their shopping and come back it makes no difference everybody is doing it in Europe.

Instead of living in the dark ages, we all want to see open borders and people to have a freedom of movement not be locked up like animals.

[Spartan]

Originally Posted by Onur

It was my personal observation.

My sincerest apologies; I guess I misunderstood this -


Strangely, the above quote is missing from you original post
Luckily i quoted it in my previous post

And what are you trying to tell me?

Nothing!!
Thats what I was asking you after reading what you edited out of your initial post I responded too

"High demand to visit"??? LOL, then why Greek island governors was crying to Papandreu to allow Turkish citizens to come to the islands without visa???

I was talking about the last 2 decades in general...not the last 2 months

If its not expensive, whatta hell you were doing in Bodrum???

Where did I say Greece wasnt expensive???
I said it isnt expensive to travel to the islands once you are in greece!
I was in Kos, and went to Bodrum for 4 hours as a youth.....filthy town/city from what i remember.

About the distance of the islands. Go to Google map, find Aegean and check how many of popular ones are closer to Turkey`s shores and how many of them to Athens.

Onur, Ive seen a map, and Iknow many of |greeces Islands are closer to Turkey. However, you made it out as these islands arer 'far' from mainland greece...which is clearly wrong...the distances are short by air or sea.

I don't see any reason to argue about it. Most biggest and popular islands are closer to Turkey.

Some... yes, of course i dont disagree

Originally Posted by Prolet

Spartan, This is the stupid thing here, i have friends who live in Germany and they go to Holland to rent DVD's from a video shop. Why is it a shame if Greeks go to Turkey or Macedonia to do shopping or whatever?

Prolet, where did I imply that shopping in a neighbouring country is a "shame'? I dont think so

[Onur]

Originally Posted by Spartan

I was in Kos, and went to Bodrum for 4 hours as a youth.....filthy town/city from what i remember.

Spartan, you make me laugh again

Did i smell typical negativity and jealousy of a Greek???

[Stojacanec]

Your right Prolet. I am from the South of ROMacedonia. If we want to go to Skopje for the day and shop it is 160 km North from us. However Solun is (apparently) 70km South, though I haven't been there.

Really there is no logic is discussing the shopping habbits of people and trying to give it some political or macro-economic meaning behind it.

[Spartan]

Originally Posted by Onur

Spartan, you make me laugh again

Did i smell typical negativity and jealousy of a Greek???

After reading my entire reply to you, thats what you chose to comment on?

Weak

[Dimko-piperkata]

June 15, 2010, 10:50 am

By Simon Falush LONDON (Reuters) - A recovery in stocks and the euro fizzled out on Tuesday after Moody's downgraded Greece to junk status, reigniting anxiety about Europe's debt crisis and causing a slight retreat from riskier assets. Moody's slashed Greece's rating by four notches, citing "macroeconomic and implementation risks" in the country's draconian austerity programme and reviving persistent doubts about Greece's ability to repay its debt. European shares slid following falls across Asia, shifting the investor focus back to the fragility of the euro zone's finances. This pushed world stocks, which had gained for five straight sessions, 0.4 percent lower on Tuesday. MSCI's main emerging market stock index, which is up around 9 percent since hitting a year low on May 25, fell 0.3 percent. Moody's downgrade was expected as the agency caught up with main rival Standard & Poor's, which recently slashed Greece to BB-plus, but the move gave investors a reason to retreat to a more defensive stance, and sell the euro and higher yielding currencies. The euro fell 0.2 percent against the dollar to $1.2190. The single currency saw gains of over 2 percent over the last five sessions, but is still down almost 15 percent year to date. "Yesterday we had concerns about Spain and on top of that the Greece downgrade and that is weighing on the euro now," said Johan Javeus, currency strategist at SEB in Stockholm. "The Greece downgrade highlighted that these problems are quite severe and it is difficult to see the liquidity problems in Spain improving and I think the euro will struggle going forward". SPANISH FREEZE Worries about the situation in Spain increased after Treasury Secretary Carlos Ocana admitted officially for the first time on Monday that some Spanish banks were facing a liquidity freeze in the interbank market. The higher yielding Australian and New Zealand dollars lost 0.5 and 0.4 percent respectively. Minutes for the Reserve Bank of Australia's June policy meeting showed members had thought previous rate rises gave it time to see if Europe's troubles would hurt world growth, and to wait for more information on domestic inflation. The yen, seen as a relatively safe bet when riskier assets retreat, gained ground. The dollar was down 0.4 percent at 91.22 yen. Bunds also gained ground as investors sought refuge in debt perceived to be safer, while peripheral euro zone bond yield spreads widened. The spread between Greek and German 10-year government bond yields rose to 641 basis points, 49 basis points higher than at the previous sessions close, while the spread between Irish and German government yields rose 18 basis points to 294. Investors will closely watch the outcome of Irish bond auctions on Tuesday for the first clues on the state of demand for longer-term euro zone debt in the wake of the Moody's downgrade. Expected strong demand for two bonds may be tempered by having to pay higher yields than in recent auctions. European shares which had seen four days of gains were lower in early trade with the FTSEurofirst 300 down 0.4 percent, with more cyclical sectors like banks hit hardest. "Greece is weighing on the market. It obviously impacted the U.S. overnight so we expected the European markets to follow," said Adam Soyak, market maker at City Index. "There is also a bit of profit taking after a couple days of strong gains." Miners and energy stocks were also weaker as base metals like copper fell over 1 percent and crude fell below $75 per barrel.

http://www.theafricareport.com/last-...%20Greece.html

[fyrOM]

It gets better and better DimkoPiperkata but the same answer allways applies not enough. They need to completely collaps and drag the eu down with them.

[fyrOM]

Greece under the scrutiny of experts from 22 EU and IMF

http://www.vest.com.mk/?ItemID=E2ED9...17A96CB8579DBF

ATHENS, June 15 (DPA) - Representatives from the EU, IMF and European Central Bank yesterday launched the revision of the Greek finance and reform, to determine whether the troubled country meet set economic goals.
The team of 22 foreign representatives will spend a week and will visit the Ministry of Finance, Health and Labour, and will meet with the Governor of the Bank Of George Provopulos meal.
Experts will check whether a series of factors, such as debts of hospitals, funding for social insurance funds or neuramnotezhenite budgets of public services, can lead to a situation in Greece did not save the required funds.
Greece is trying to improve public finances and to meet fiscal targets, agreed with the IMF and the partners of the euro area to replace the package with immediate financial assistance of 110 billion euros (134 billion dollars) to repay its debt.
The aim of Greece is to reduce the budget deficit by 5.5 percent this year, and by 2014 to bring in the EU permitted level of three percent.

[fyrOM]

Its hard to say how good or bad their situation realy is. Some report pait a dark picture with junk bond status while this report does not sound that bad if thay can work it out in 4 years.