The weekly: Greece to default/restructure THIS weekend? thread

Paraclese, look you are in a mess of corruption. It is cronyism and political organized crime that has allowed your country to be raped...first when the corrupt borrowed the money, and then when the corrupt tried to bail out the malifactors on the back of the innocents. It was corrupt to create a regulatory and government culture of monoply for insiders that destroyed organic investment and enterprise for generations. You now have a cultureal problem to repair and the criminals are still in control...and are likely to be among the new order in any apparent reform. You are more optimistic than I am pessimestic.
 
What are the Germans going to think as the Greeks take another day off?

Greece Austerity Strike Will Hurt GDP Further
As EU leaders prepare to meet in Brussels on Thursday, Greece's workers aim to make their voices heard by holding a 24-hour strike bringing the country to a halt. But with the economy in the fifth year of a recession, the lost production could cost the economy 100 million euros ($131 million), according to one expert and prove counterproductive.

Most business and public sector activity is expected to grind to a halt during the strike called by the ADEDY and GSEE unions that represent around 2 million people - half of Greece's workforce. A protracted news blackout is also expected as television and radio broadcasters and newspapers shut for the day, according to Reuters.
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http://finance.yahoo.com/news/greece-austerity-strike-hurt-gdp-094720796.html
 
Quote from TGregg:

What are the Germans going to think as the Greeks take another day off?

Greece Austerity Strike Will Hurt GDP Further


http://finance.yahoo.com/news/greece-austerity-strike-hurt-gdp-094720796.html
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doesnt matter what the Germans think. What matters is what does the aristocracy of the EU think. Most Germans have no choice but to pay, and they will be forced to keep paying as long as they can pay.... until... they cant pay anymore. they can strike in Greece, for days, weeks, maybe months even. Greece will continue to get bailouts regardless of the rhetoric being tossed around and therefore continue to be a part of the giant global shipwreck that is the EU. it will continue to no end, well, up until the peoples of the EU are completely bankrupt, the euro worthless, and the EU leaders will say well folks, we tried our hardest to see our dream become a reality, and while we have failed, we can look at the bright side as things could have been alot worse if the EU broke up earlier. Now that the EU has grown so big, we are too big to fail. That being said, we are scrapping the euro and implementing god sent measures to refrain us from making the same mistakes again, we are stopping tax evasion once and for all, and creating a digitized currency making you are much more free to conduct business wherever you want in the world. To participate in this new wonderful project you must all take the chip. and to sweeten the "new deal" ahem (chuckle chuckle) the wonderful bankers helping us get out of this mess will give 10k units of the new currency to everyone who gets the chip, into a retirement account that cannot be touched until the age of 65. The money can be freely invested into a wide range of money markets and treasuries of the new government.
 
Quote from Ed Breen:

Paraclese, look you are in a mess of corruption. It is cronyism and political organized crime that has allowed your country to be raped...first when the corrupt borrowed the money, and then when the corrupt tried to bail out the malifactors on the back of the innocents. It was corrupt to create a regulatory and government culture of monoply for insiders that destroyed organic investment and enterprise for generations. You now have a cultureal problem to repair and the criminals are still in control...and are likely to be among the new order in any apparent reform. You are more optimistic than I am pessimestic.
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congrats for the post by a greek!!!
 
For what it's worth, I think that there will not be a default / restructure this weekend. The threats (explicit or implicit) described in the articles below may be just that, without any genuine follow-through if the Troika's demands aren't met.

"Athens has until Sunday evening to decide"

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_26/10/2012_467518

http://www.zerohedge.com/news/2012-10-26/greek-deadline-sunday-evening

Having said that, market consensus seems to be that Greece will not be default, given the performance of Greek stocks in the last few months.

So it would be a much bigger shock now if Greece were to exit, than what it would have been months ago.
 
here in greece right now there are 3 political parties whice are the government.
one from the right wing,one from the center/left and a left one.all these in theory of course.
this has never happened in greece.as you maybe know we had a a civil war here after WW2 which no one has forget.

so the differences are a lot.not easy to corporate all these.

finally the have 178 votes from the 300.to pass what troica says they will need 151.
already they have lost 2 votes and 7 from pasok(center/left) have said that they will not vote for yes.that means from 178-9=169.

the left wing party maybe all of it say NO which has 16 votes.

finally in the last mnimonio greek government voted for some months ago they didnt vote it 60 politicians from the 2 big parties.and now it needs only 19 or 4 but maximum 19...

so my advice do not be sure about anything!!!
and i am not saying more details right now about problems that these 3 parties have to solve in their inside.
just one thing...judges are after them and hunting them...see the chief of pasok for the cd of lagard who didnt do anything for 2 years with the 54.000 people who knew that had money in swiss...and he proudly said us "sorry guys i lost the list"...
 
Greece will default at some point in the next 5 years but at a time when you least expect it .

A default wont happen any time soon and will certainly wont happen with the eyes of the world focused on Europe and Greece.
 
Quote from Newex:

Greece will default at some point in the next 5 years but at a time when you least expect it .

A default wont happen any time soon and will certainly wont happen with the eyes of the world focused on Europe and Greece.
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Aren't they already defaulting?

Debt haircuts are a form or restructuring. I don't think there will be an official default.
 
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