Greeks defy Europe with overwhelming referendum 'No'

[pakdefender]

This is brinkmanship , Greeks have effectively shown the finger to its private creditors( mostly jews ?) and put the gun to Merkel's head. They are not paying up , won't put in austerity measures but want to remain in EU, simply put they want additional cash with no strings attached

News reports suggest that Germany and France have already blinked.

Either Germany has to cough up more cash or its own project of a United Europe ( and beyond into Russian sphere of influence ) will once more get jeopardized

In the Greek vote there is a lesson for bailout "good boy" ireland , who agreed to all terms set out by Germany

 

[proka89]

 

[Audio]

^^^ This is Sparta. Unfortunately.

The soner y'all realize this referendum was to give some sort of leverage to Greek negotiators over EU ones, when they will sit down again very soon, asking for yet more handouts, the better.

70-80% want to keep € as per polls, 60% dont want to pay € debt as per y'days referendum. You know to what this amounts to? They don't want drahma, nor reforms, no devaluation, just more ELA and bailouts from ECB.
Who will accept drahma anyway on a fair basis? Get real.

 

[-------]

^^^ This is Sparta. Unfortunately.

The soner y'all realize this referendum was to give some sort of leverage to Greek negotiators over EU ones, when they will sit down again very soon, asking for yet more handouts, the better.

70-80% want to keep € as per polls, 60% dont want to pay € debt as per y'days referendum. You know to what this amounts to? They don't want drahma, nor reforms, no devaluation, just more ELA and bailouts from ECB.
Who will accept drahma anyway on a fair basis? Get real.

It'll be like giving money to a black hole..

 

[xenon54 out]

BTW any Turkish members about now might be agood time to offer to buy the other half of Cyprus i hear Greece will be having a fire sale

Germans were saying Greeks can sell their Islands to Turkey.

Jokes aside, Turkey offered financial help to Greece without demanding Islands or something, you see? We arent that bad.

 

[55100864]

I just love democracy!!

 

[Hasbara Buster]

Greeks will never learn

Greece has nothing to do with anything. Greece didn't cause the financial collapse; the Transatlantic financial system itself is totally corrupt and immoral and unsustainable. In 1999, President Bill Clinton repealed the financial law - dating back to the times of the Great Depression in the 1930's - that separated commercial banking from investment banking. It was called "Glass-Steagall". This Glass-Steagall system has to return as soon as possible if nations want to avoid a total collapse.

 

[Falcon29]

Nothing much we can get olives from Spain and Feta from Denmark, i already live on an Island full of Greeks so really there isnt any thing to miss.

Greece is 2% of the EU economy and a huge drain on the countries where people actually work and have taxation. Greece colapses once people are over the crying and the chest beating the EU economies will probably be better off.

BTW any Turkish members about now might be agood time to offer to buy the other half of Cyprus i hear Greece will be having a fire sale

Some say Greece will be better off as tourism gets cheaper=will increase and economy will see investments rather quickly. And then some suggest they shouldve followed iceland model.

 

[Emilly David]

Some say Greece will be better off as tourism gets cheaper=will increase and economy will see investments rather quickly. And then some suggest they shouldve followed iceland model.

Please don't follow what does other say just like post 66.

 

[XenoEnsi-14]

Greece should pull out of NATO/European Union and become an independent country.

Instead of Greece, Europe should let the Republic of Turkey to enter the European Union, as it will benefit EU and Turkey will not become a burden in Europe as well.

EU needs new leadership and British-Turkey-Italy, along with France and Germany will provide that necessary leadership.

I love this picture.

zip your pants

 

[Jlaw]

I like this Greek girl better

they are both fine.

 

[Meengla]

Well, you are entitled to your opinion, but I think that Greece and Europe are eventually going to sort it out. Both just cannot afford to worsen this crisis. Greece and the creditors will reach a consensus. That is my prediction. We'll have to wait for re-negotiations to start. Despite all the rhetoric the creditors have shown a lot of goodwill and reconciliation. That means that there is a lot of room for talks.

I tend to agree with you on this. I think for larger political regions--including the US backing to keep Greece in the EU zone--there is likely to be a compromise.

Now, I am quite 'liberal' and tend to go along with most of the NY Times 'Comments' and Op-Eds but on Greece I think there is too much leniency being shown.

How can a nation so tiny amass so much debt? Why should they be given so much leniency? In the words of one of my best friends here in America--a lady of Greek origin--Greece is very corrupt: "Nothing gets done unless you know someone", to paraphrase her.

I think the Greeks are doing an act of political brinkmanship and the EU should call their bluff! No more than slightly softer deal to be offered to them. They borrowed it and they should pay back.

PS. And, how, it was pretty low of the Greeks to try to extract some WW 2 reparation from Germany during the recent crises--speaks volumes of their character--or lack of thereof.

 

[Gazi]

Greece is a country which is mostly dependent on its tourism and Agriculture and if I am not wrong then its not easy to regulate both sectors so Govt. Revenue would be quite low while Cash Inflow in Greece would be high which goes directly to people rather then Govt. and people expend them on buying Luxury Items imported from elsewhere. In such situation where Govt. revenue is already Quite low they were trying to maintain lots of things from welfare system to EU Standards to Military at the same time they have to fulfill foreign Monitory Commitments. That is quite a recipe of disaster for any Govt. not just Greek so they are Quite badly Tied in the circle of Debt Financing and doesnt likely to come out of it in Future so Greece is quite Badly Screwed and I think in the end they have to Compromise on National Defense as they are member of NATO and EU at the same time which means they would have to Decrease their Military Strength and Spending Gradually so that they could ruote the money they were Spending of National Defense towards Debt Financing or Developing some sort of Industry in Greece which could help increase the Govt. Revenue Collections.

 

[jhungary]

I tend to agree with you on this. I think for larger political regions--including the US backing to keep Greece in the EU zone--there is likely to be a compromise.

Now, I am quite 'liberal' and tend to go along with most of the NY Times 'Comments' and Op-Eds but on Greece I think there is too much leniency being shown.

How can a nation so tiny amass so much debt? Why should they be given so much leniency? In the words of one of my best friends here in America--a lady of Greek origin--Greece is very corrupt: "Nothing gets done unless you know someone", to paraphrase her.

I think the Greeks are doing an act of political brinkmanship and the EU should call their bluff! No more than slightly softer deal to be offered to them. They borrowed it and they should pay back.

PS. And, how, it was pretty low of the Greeks to try to extract some WW 2 reparation from Germany during the recent crises--speaks volumes of their character--or lack of thereof.

No doubt the Greece are playing on "Eurozone" card and saying you want us? You have to pay us.

basically Greece case is the totally opposite case for the UK for not suitable to Euro, while UK economy perform stronger than Euro on average, Greece is just too weak to support Euro.

 

[500]

I just heard that Greek minister of finance name is Yanis Eurofakis. That explains everything.