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  #321  
Old 04.07.2015, 08:42
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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Russia has the funds
Indeed it does.
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  #322  
Old 04.07.2015, 12:16
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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...and isn't it amazing how the situation has changed in 9 months?

http://www.spiegel.de/wirtschaft/soz...-a-993298.html

...or is that the fault of the Germans as well?
Of course it is. All the work of that Merkel, Rogoff's slave.
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  #323  
Old 04.07.2015, 17:07
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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When, oh when, will Greece and it's criminal leaders wake up and thank the Germans for their generosity. Nobody else was prepared to lend them a cent, and yet Merkel's government lent them billions at 5% interest. I am quite sure the Germans will not be lending them any more cash, their attitude has changed after all the insults they received!

Russia has the funds, and until recently China & the USA. So why didn't any other country rush in and meet the demand?
About "Russia has the funds" Latest figure for Russian foreign reserves is $362 Billion.
How much does Greece need, ca. $380 Billion?
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  #324  
Old 04.07.2015, 17:49
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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When, oh when, will Greece and it's criminal leaders wake up and thank the Germans for their generosity. Nobody else was prepared to lend them a cent, and yet Merkel's government lent them billions at 5% interest. I am quite sure the Germans will not be lending them any more cash, their attitude has changed after all the insults they received!

Russia has the funds, and until recently China & the USA. So why didn't any other country rush in and meet the demand?
It's stupidity rather than generosity to lend money to either people or countries that don't have a hope in hell in ever repaying. Seems like people's memories are very short, giving self cert mortgages to people who could never repay as if that could possibly go wrong

As Mr Buffet famously said, I am paraphrasing here, only invest in a company that can be run by an idiot as one day it will be run by an idiot. Same could be said about countries.
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  #325  
Old 04.07.2015, 19:54
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

The alliteration stinks. Germany and generosity is an oxymoron.
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  #326  
Old 04.07.2015, 20:34
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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It's stupidity rather than generosity to lend money to either people or countries that don't have a hope in hell in ever repaying. Seems like people's memories are very short, giving self cert mortgages to people who could never repay as if that could possibly go wrong

As Mr Buffet famously said, I am paraphrasing here, only invest in a company that can be run by an idiot as one day it will be run by an idiot. Same could be said about countries.
So let em starve ???

I don't agree with giving them a break - they got themselves into this mess democratically and fought tooth and tail to dig themselves deeper. But I do think that they should be helped the moment they start to behave maturely but only for the duration of that maturity.
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  #327  
Old 04.07.2015, 23:26
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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The alliteration stinks. Germany and generosity is an oxymoron.
Accepting that there is no possibility of getting repaid, how much beyond €56b would they need to go before you'd consider them generous then???
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  #328  
Old 04.07.2015, 23:30
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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When, oh when, will Greece and it's criminal leaders wake up and thank the Germans for their generosity. Nobody else was prepared to lend them a cent, and yet Merkel's government lent them billions at 5% interest.
Spare a thought for Spain who despite their own situation lent them €25b!
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  #329  
Old 05.07.2015, 01:52
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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Accepting that there is no possibility of getting repaid, how much beyond €56b would they need to go before you'd consider them generous then???
A lot, as by comparison these are peanuts. What Germany sucks out of that crisis is worth much more than that. Germany sucks.
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  #330  
Old 05.07.2015, 10:13
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

There is an old American saying "If you pay peanuts, you will get monkeys".
If the €56 billion is peanuts, why don't the monkeys pay their debt?

I am sick of Greeks on my television telling us that the creditors are at fault. Why did Greece borrow so much money?

After the vote today, Greece might wake up to even further austerity!
The hard times haven't begun yet, and will not end until the Onassis
family are working on the soup kitchens.
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  #331  
Old 05.07.2015, 10:42
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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This week's "deal" would not have been necessary if the Greek government had gotten itself in order and the debt had been repaid as agreed, in more than one previous agreement. That said, Tsipras hasn't been in power that long so it's hard to lay it all at his feet that things were not shored up yet. I'm afraid I don't see a win for anyone here - Greece, Tsipras, the EU, or the IMF.
well. i think the creditors have to take part of the blame here. they lent to greece and then forced them to make certain austerity measure that further collapsed the economy and made them further unable to repay.

everyone knows that greece will never be able to repay the debt. time to face reality and have the creditors take a sizeable haircut.
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  #332  
Old 05.07.2015, 11:04
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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well. i think the creditors have to take part of the blame here. they lent to Greece and then forced them to make certain austerity measure that further collapsed the economy and made them further unable to repay... (edited)
Just as well that Greece was forced to introduce an austerity package. Their administration was very over manned, their pension plans were ridiculously generous. The tax authorities are still incapable of collecting the full amount of tax. Aside from the Greeks, you cannot blame creditors for making them save some government money.

As I understand recent history, the situation went from bad to impossible, after the billions of relief funds were used to pay off the debts held by the Greek banks, that means the richer Greek investors took all the money! The Greek government doesn't want to mention this huge mistake to the people, and so the creditors are blamed for the mess.
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  #333  
Old 05.07.2015, 11:06
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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well. i think the creditors have to take part of the blame here. they lent to greece and then forced them to make certain austerity measure that further collapsed the economy and made them further unable to repay.

everyone knows that greece will never be able to repay the debt. time to face reality and have the creditors take a sizeable haircut.
Except the economy was growing and Greece was in surplus and starting to repay its debts until the present government came in , tax take plummeted , hard fought reforms reversed , state TV put back on air - all wildly popular of course...

Point is Greeks don't seem to want their country to be run like a responsible country. Rather a significant portion of them riot and protest at the mere possibility of that happening.
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  #334  
Old 05.07.2015, 11:13
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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As I understand recent history, the situation went from bad to impossible, after the billions of relief funds were used to pay off the debts held by the Greek banks, that means the richer Greek investors took all the money! The Greek government doesn't want to mention this huge mistake to the people, and so the creditors are blamed for the mess.
I think you mean depositors not investors, I don't think the liabilities of the Bank were paid off, just liquidity increased.
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  #335  
Old 05.07.2015, 11:14
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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Except the economy was growing and Greece was in surplus and starting to repay its debts until the present government came in , tax take plummeted , hard fought reforms reversed , state TV put back on air - all wildly popular of course...

Point is Greeks don't seem to want their country to be run like a responsible country. Rather a significant portion of them riot and protest at the mere possibility of that happening.
and if you lend unsustainable amounts to such a country, shouldn't you expect to get zero back in return?
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  #336  
Old 05.07.2015, 11:19
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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and if you lend unsustainable amounts to such a country, shouldn't you expect to get zero back in return?
So you'd let them starve then ?
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  #337  
Old 05.07.2015, 11:19
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

in pictures:

http://demonocracy.info/infographics...ebt_greek.html
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  #338  
Old 05.07.2015, 11:46
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

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So you'd let them starve then ?
What the bankers?
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  #339  
Old 05.07.2015, 13:56
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

With the Euro being used across several countries doesn't that mean that Euro is undervalued in some countries and overvalued in others? Euro is undervalued in Germany and Germans could sell easily and benefit a lot from Euro. But Euro is overvalued in some of the countries like Greece, so they import cheaply with running big trade deficit and borrowing money cheaply because the low rates are paid by countries like Germany.

During the economically good years the over-expanded debt of countries like Greece and Portugal has been finding the spending and imports of the richer countries like Germany. Why would they have to face the crisis on their own now?
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  #340  
Old 05.07.2015, 14:27
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Re: Greece discussing leaving the Euro Zone (Spiegel Online)

There's a saying "if I borrow thousands from you its my problem but if I borrow billions from you, then it's your problem".
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