Author Topic: Greece has defaulted!  (Read 5583 times)

Offline GreekMan

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Re: Greece has defaulted!
« Reply #30 on: November 27, 2012, 04:00:06 AM »
I happened on this documentary on the Greek situation....It is a bit old but you are still welcome to it if you have the time and wish.

http://bcove.me/hjo39qw1
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Offline osubuckeye4

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Re: Greece has defaulted!
« Reply #31 on: December 07, 2012, 02:16:08 PM »
Who's next?  ::)

Ireland or Spain are the frontrunners.

Offline jpbearit

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Re: Greece has defaulted!
« Reply #32 on: December 07, 2012, 11:58:03 PM »
Who's next?  ::)

I think Japan is next.
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Offline endurance

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Re: Greece has defaulted!
« Reply #33 on: December 08, 2012, 10:07:53 AM »
I think Japan is next.
Most of Japan's debt is held by Japanese citizens, unlike the Europeans.  It's the foundation of their retirement and pension programs.  Thus, they can delay a lot longer by working later in life, whereas once the writing goes up on the wall that your country may not be able to pay back its debt, nobody is willing to loan you money, thus interest rates go up, thus the ability to repay bondholders goes down and you have a vicious cycle.  That's what happened in Greece and is unfolding in Spain, Italy and Portugal today.  Since the Japanese are buying their own bonds, they can prop their own system up a lot longer.  Will it come apart eventually when folks retire enmasse, you bet, but they have a lot more control over the how and the when than Spain does.

Ireland is perceived as being a culture that is very willing to suffer, thus, they're still seen as a better risk, but no doubt about it, they're in for a lot of suffering and only time will tell if they eventually see the rebellion against austerity that Greece has demonstrated.
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Offline Cedar

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Re: Greece has defaulted!
« Reply #34 on: February 17, 2015, 06:02:56 PM »
Greece's current bailout expires on 28 February 2015. Any new agreement would need to be approved by national governments, so time is running out to reach a compromise. Without a deal Greece is likely to run out of money.
http://www.bbc.com/news/business-31485073

Greece defies creditors, seeking credit but no bailout
http://www.cnbc.com/id/102429071

Greece bailout talks break down after Athens rejects 'unacceptable' eurozone demands
http://www.theguardian.com/world/2015/feb/16/greece-fails-rescue-package-eurozone-finance-ministers

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Offline GreekMan

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Re: Greece has defaulted!
« Reply #35 on: February 18, 2015, 01:42:27 AM »
I was patiently waiting till someone found out...

There was an initiative by the Greek side half a day ago. And it is reasonable assuming a solution must be found.

problem is that Germany is hard fixed in its position and has the rest of the Europe by the balls.
The secret is out, it is using a Mercantilistic economic policy to further its 3rd try their Pan-European Lebensraum. 9that was as a dense statement as it can get)

So we are in an armwresting game with the possibility to turn into a barroom brawl

germany's position is so hard set that either is playing a hard negotiating game or is determined to push things to the end and create te conditions of ousting Greece from the Eurozone.
The media are supporting the idea that the EU is now hardened enough to bare the exiting crisis and its effects on the Euro, and not contaging the rest of the problematic economies of portugal, Spain and Italy.
Check this: http://www.washingtonpost.com/blogs/wonkblog/wp/2015/02/13/italy-is-europes-ticking-time-bomb/
Practically Greece is being used (again) to bully the rest of the European south. the situation is particlularly critical since in Spain, the prime minister is sinking in a muck of scandals and the radical left party (connected to the similar one governign Greece now) is kickin ass and will sweep in September's elections.
So time is sparce, everything must happen by summer.

Where this going i can not tell.
The fact is that the real battle is between the Germanic recipe of extreme austerity to serve depts versus an expansive economy approach to create profit and surplusses.
And the major player in this game is known for making the wrong act when history calls.
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Offline Cedar

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Re: Greece has defaulted!
« Reply #36 on: February 18, 2015, 02:31:51 AM »
.
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Offline GreekMan

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Re: Greece has defaulted!
« Reply #37 on: February 19, 2015, 08:07:48 AM »
this article by Bloomberg sums quite well the facts and the feelings in Greece

Europe and Greece Are at War Over Nothing
http://www.bloombergview.com/articles/2015-02-19/what-are-europe-and-greece-even-fighting-over-

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Offline GreekMan

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Re: Greece has defaulted!
« Reply #38 on: February 20, 2015, 03:31:47 AM »
an interesting article talking about the geostategic implications of the Greek situation

Keeping Greece in the euro is about far more than money
http://www.ft.com/cms/s/0/f98c73b6-b761-11e4-981d-00144feab7de.html#axzz3SHAUoKHI

Quote
Events in Ukraine have shaken those in Europe who once took for granted that the postwar territorial settlement would be respected by all its neighbours. In what promises to be a protracted western confrontation with Russia, the geostrategic assets represented by Greece are irreplaceable.

Yet European leaders persist in discussing Greece’s financial position as if its geopolitical allegiances were immutably settled. Events may yet prove them right. But it is a risky bet. It would be a tragedy if a narrow-minded analysis of the situation led them to place that wager accidentally.
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Offline Cedar

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Re: Greece has defaulted!
« Reply #39 on: March 18, 2015, 09:27:36 PM »
Greece pushes creditors to the edge as it demands EU summit talks.  The Greek government has demanded bail-out talks at an EU summit later this week, frustrating its creditors in already strained debt negotiations. According to reports, Athens refused to update European finance ministers about its plans to implement vital reforms at a scheduled teleconference yesterday, requesting higher level political talks with eurozone leaders instead.
http://www.telegraph.co.uk/finance/economics/11479304/Greece-pushes-creditors-to-the-edge-as-it-demands-EU-summit-talks.html

Greece defies EC with anti-austerity law
www.bbc.com/news/world-europe-3195221

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Offline GreekMan

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Re: Greece has defaulted!
« Reply #40 on: March 19, 2015, 02:13:48 AM »
yep! it is a huge battle against the German pushed Mercantilistic austerity. Cos all this dept thing boils down to this.
And not for greece only. Unless something changes, Europe will either fall into a recession or break up.
Key politicians (i..e Mario Draggi) have started realizing this, but not soon enough for Greece.

Food for thought:
https://www.youtube.com/user/INETeconomics/search?query=mercantilism
https://www.youtube.com/user/INETeconomics/search?query=+The+Future+of+Europe
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Offline GreekMan

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Re: Greece has defaulted!
« Reply #41 on: March 22, 2015, 08:29:14 AM »
cos nothing is like it seems on the surface and some people want you to believe

http://www.spiegel.de/international/germany/greek-study-provides-evidence-of-forced-loans-to-nazis-a-1024762.html
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