News Greece - Time to cut them off?

[Ormorof]

hehe yeah i barely noticed the Merkel clown i thought the photo was about the guards

 

[Gwadien]

Hardly surprising, given that banking itself is ideologically corrupt.

We cannot remove corruption until we change our ideas over what banking should be - for the entire planet.

In times of boom, bankers are deemed heroes getting mortgages for those who cannot realistically afford it, when reality hits and we go into a slump, the bankers get slaughtered!

 

[Ormorof]

In times of boom, bankers are deemed heroes getting mortgages for those who cannot realistically afford it, when reality hits and we go into a slump, the bankers get slaughtered!

thats one way to look at it, another is: in times of boom profits are privatized, in times of slump their losses are socialized

 

[Gwadien]

thats one way to look at it, another is: in times of boom profits are privatized, in times of slump their losses are socialized

Yeah, but what I was getting at is that this is what we demand, it's hardly their fault, it takes one banker with balls to decide, yep, im gonna make that risky leap, then they all do it, and some fall and smash their face on the way down.

 

[Ormorof]

yes but then those that fall and smash their face on the way down should pay the damn bill themselves - i hardly think the backlash is undeserved, they took massive risks, when they failed the government simply paid the bill for them, which sets an absurd precedent - the "too big to fail" banks now have a wonderful credit rating because the rating agencies know that no matter how badly they do the government will keep pumping money into them

 

[Gwadien]

yes but then those that fall and smash their face on the way down should pay the damn bill themselves - i hardly think the backlash is undeserved, they took massive risks, when they failed the government simply paid the bill for them, which sets an absurd precedent - the "too big to fail" banks now have a wonderful credit rating because the rating agencies know that no matter how badly they do the government will keep pumping money into them

They're not going to though, it's up the governments to stop it from happening, because from history we've learnt it's a regular occurrence.

 

[Job]

Greek protester dressing up as Nazi's, calling Germany the fourth Reich.
Us Brits are loving this, we do it all the time!

 

[Job]

 

[Embattle]

http://www.ft.com/cms/s/0/ade132b8-3003-11e2-891b-00144feabdc0.html#axzz2CPX3HNwg

 

[Scouse]

..../strokes chin... hmmmmmm....

 

[DaGaffer]

..../strokes chin... hmmmmmm....

Fair assessment,...but, the Greek people voted for it. They did have the opportunity to vote for default at the last election (an opportunity not offered by any mainstream party to the Irish, not that they would have voted for it either) and they chose not to. Problem with Greece will always be that economically it always was on a par with Eastern Europe, but it had the taste for Western European levels of public services, and the experience from when they initially got into trouble kind of shows that unless their government and the IMF got absolutely brutal about it, the Greeks were always going to try to just "kick the problem up the road" while it got worse and worse with every "kick". I do sympathise with a lot of the people, but the one thing they can do is follow that Eastern European example and head out in the EU looking for work, which is an opportunity most Greeks didn't have during previous economic and political crises.

 

[Tom]

They're not going to though, it's up the governments to stop it from happening, because from history we've learnt it's a regular occurrence.

They could easily do that by not guaranteeing depositors' cash. Right now, there's no incentive for banks to behave responsibly.

 

[Athan]

Iceland may well have had the right idea after all...

http://www.independent.ie/business/...s-proved-that-the-joke-was-on-us-3327164.html

 

[Scouse]

Iceland may well have had the right idea after all...

http://www.independent.ie/business/...s-proved-that-the-joke-was-on-us-3327164.html

Basically - Iceland told the rich to go fuck themselves. So they did - and normal Icelanders won on everything bar foreign travel and the price of imports...


...big deal eh?

 

[Raven]

...and exported some amazing music.

 

[rynnor]

...and exported some amazing music.

Big bjork fan ?

 

[TdC]

Bjork certainly isn't the only Icelandic music export Ryn

 

[throdgrain]

If you say so Teeds ...

 

[Embattle]

So any one reckon the can will finally stop being kicked down the road?

 

[ECA]

So any one reckon the can will finally stop being kicked down the road?

When a german or greek poltician grows some balls.

 

[caLLous]

Fucking Greece, honestly. Everybody and their dog saw this coming after the election. The government need to realise that they aren't in any position to be making demands or telling their creditors to "get real". They're not going to talk their way out of it, it's a crap situation for the Greek people but I'm not surprised to be hearing mumblings from Germany about Europe losing patience with them. If cutting pensions is something that needs to be done in order to make savings, then fucking do it already. You can't magic the money out of thin air, it needs to come from somewhere.

People that are individually up shit creek financially have to make sacrifices in order to get their heads above water again. Bollocks to your "dignity", Greece, just sort yourselves out ffs.

 

[ECA]

I dunno if I said this here before, but the tldr is greece needs to leave, to save them from 20-30 years of enforced austerity.
Greek politicians don't want to be the ones to leave - nobody wants to be "That cunt who took us out of the euro" in the history books.
Likewise Germany perceives a country leaving the EU as a BADTHING TM and doesn't want them to leave.

So you end up with this ongoing clusterfuck where everyone knows the best thing for Greece is to leave, have 2-5 years of a shitfuck economy and fix things.
The alternative is 10 years of this shit for them, followed by them being kicked out when Germany stops paying their bills, and then having 2-5 years more of a shitfuck economy and fixing things.

 

[Raven]

Maybe if dodging tax wasn't still a national sport then they would start getting out of their mess.

Fuck'um, quite frankly.

 

[Job]

There is much more going on here than shows itself in even the most in depth analysis, the Germans don't want to be any part of letting Greece go for very strong historical reasons, as I point out time after time...the EU is basically a load of people playing poker, it's not within a million miles of the United States....if Greece goes under and Germany is seen not to have helped...or even pulled the plug then the god almighty shit of shits will hit the fan.
Too much history...too many dead and too much stolen over the years...Merkel has allready ruled out a Grexit.

 

[Embattle]

http://www.bbc.co.uk/news/business-33177021 - The video a the top is worth a laugh or two.

 

[caLLous]

And the IMF and Europe will say "er no, actually it is a totally legitimate debt - pay up or fuck off." Greece can posture all they like, they owe this money so stop dancing around trying to get out of it.

 

[Raven]

Its not like this is the final installment either. If they can't pay now the won't be able to pay later either.

 

[Bodhi]

Bet they are regretting fudging the numbers now to let Greece join in the first place.

Or ever thinking that joining many disparate economies into one universal currency was ever a good idea. Far from uniting Europe, I can see the Euro tearing it apart, quite frankly.

 

[Job]

Aaand they've lent them more money from the emergency emergency fund...who's kidding who here, Greece is bankrupt and the EU is pretending it will all be OK if they make everyone retire 3 years later, meanwhile in realtown, they keep borrowing money to give it to Greece because Greec's problem is now their, cos it's a fuckin monetary union!

http://www.telegraph.co.uk/finance/...anking-collapse-as-capital-controls-loom.html

 

[ECA]

Ireland, Spain and co must feel like right mugs for going along with the eu demands instead of being arsey cunts to get free shit.