Greece Heads for ‘No’ Vote, Raising Risk of Departure From Euro

Visaria said:
look at puerto rico, about to become bankrupt, no one has suggested it leaves the US (and the dollar).
More...

The US is a fiscal and political union, the EU not. Of course EU-technocrats now are even more frustrated with that.
 
Last edited:
Ditch said:
The US is a fiscal and political union, the EU not. Of course EU-technocrats now are even more frustrated with that.
More...

pretty sure puerto rico is not part of the fiscal and political union of the USA
 
i am nobody said:
Greece will be de facto out when they run out of euro's. If the ECB does not increase the actual level today, it will be a matter of days, or maybe even hours. And the ECB will probably not raise the level.
At this moment there is more money from the ECB in the greek banks then from savings or greek bankaccounts. So in fact the Greek banks are not Greek anymore.
More...

ECB just decided: NO MONEY FOR GREECE ANYMORE.
The countdown for the banks going in default has started.

The decision from the ECB is logical.
First Greece received a few hundred billions that they don't want to pay back. Now they ask new money????? If even with the amount of money they already received the economy continues to crash how much money will they need then to start recovering? Again a few thousand billions that they also will not pay back?

Not a single European country ever received the amounts that Greece received, and they all recovered. The problem is clearly a Greek problem. They went to the bank and took all their money out. And now we should give new money? If the Greeks would bring their money back to the banks there would be at least 100 billion again. That's the amount they first took out. Or should we run the risk because the Greeks find it too risky for themselves?
 
Last edited:
ECB thightens the conditions for the actual level of ELA's. Next step is reducing the level of the ELA's and then Greece will have a huge problem. Because they will not receive but on the contrary they will have to pay euro's to the ECB. Euro's that they don't have even at this moment. Greece will need another currency to keep the system working. Maybe they can change to the Rouble? Tsipras can ask Poetin a few hundred billion Roubles and tell him they will pay them back later. Like they do with the Euro's loans.
 
what ever happened to pro growth? I never hear ECB or Greece talking about how to grow? Forget the past. It's over with and done. You can't squeeze water out of a stone. The only hope for everybody, including you and me is for a thriving Greek economy. Is that so hard?
 
I doubt there is any bitcher on this site that if given charge of a wayward grandson or nephew just coming out of rehab couldn't put together a plan that would get him back on his feet, and that would involve investing some money. I suppose there comes a time of tough love when enough is enough. I don't know, I am always pro growth, no matter how bad you have screwed up. Given the choice, austerity or growth? what would you choose?

and it aint just Greece it's all of us. The only way out of this mess is a thriving economy
 
and what is a thriving economy? I don't know, I am very simple. Food ,clothing and shelter. That's what I call thriving. And as long as there is any citizen in the world that is not participating in this thriving economy where everybody has food, clothing and shelter, we have a lot of work to do.
 
You must log in or register to reply here.
Back
Top