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 Greece NO vote / now what happens

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Daryn
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PostSubject: Greece NO vote / now what happens   Mon Jul 06, 2015 10:59 am

Ive been following the Greek situation since the start but Im still not sure what the no vote will mean, does it mean they will not pay back what they owe but get no more financial help scratch

Im sure it will mean the Euro will lose value so keep an eye on a sudden drop and buy them euros when they hit rock bottom.

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delboy
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 06, 2015 2:13 pm

It's a stupidly done question Daryn what it means is do you want austerity and the obvious answer is NO but the Greek Government financial minister believes he can now go back to Euro and renegotiate better terms despite European already saying no more on the table. He has resigned this morning despite getting the NO vote he has asked to the people to do, my guess is somebody behind the scenes feels he has roughed up European too much and they will stay hard

A YES would have said we want to stay in Europe and accept the terms but in truth the Greeks want to stay in Europe but do not want Austerity so the question is a waste of time.

But at the moment they can't have funding and not have austerity
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4thforum

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PostSubject: Re: Greece NO vote / now what happens   Wed Jul 08, 2015 8:28 pm

Interesting piece I came across. It surmises what might happen if Greece turns to the Chinese

Irish Indo
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Daryn
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PostSubject: Re: Greece NO vote / now what happens   Sun Jul 12, 2015 1:36 pm


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delboy
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 13, 2015 8:28 am

Breaking news coming through, there seems to have been some sort of agreement reached with Europe but no details yet
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Daryn
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 13, 2015 11:38 am

Rolling Eyes I knew and Greece knew they would do something as its in the best interests for the rest of Europe so it the euro doesnt plummet

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Daryn
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 13, 2015 11:47 am

Greece is going to be a bottomless pit for the rest of Europe, I can see this coming, its just borrowing more money that cannot possibly be paid back on top of what they already owe. http://www.bbc.co.uk/news/world-europe-33503955

As far as I can see Greece would have been better off going back to their old currency although devalued it would have paid off in terms of tourists visiting their country as thats mainly what Greece has to offer TBH, more money in exchange rate the way it used to be.

They WONT make the payments to the rest of the EU, they cant, how can they, they couldnt make it before. I also think EU was frightened as Russia offered to help Greece out in terms of energy supply.

I dont think EU should have ever had one currency, it stopped trade dead because everyone was on an even Keel, no fighting to beat each other, its been a disaster from start to finish.

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delboy
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 13, 2015 12:08 pm

well that all stems from Germany having all the efficient machiney and producing quality washing machines etc, that nobody else could afford because their German Mark was so strong. Hence, if they got every country having the same currency the Mark and their prices didn't jump up. However, this comes with a price as they are propping up countries that just can't afford the stuff.

Greece can't devalue because they are tied into the Euro and Europe can't give them a right off of debt because all other ailing countries would want the same, so Europe has to keep filling the empty hole with money.
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Mick
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PostSubject: Re: Greece NO vote / now what happens   Mon Jul 13, 2015 7:14 pm

What gets me, is that the Greeks voted No to the last measures, now this one is tougher than that. Who is pulling the wool over who's eyes? scratch An awful lot of back tracking by the PM me thinks. nono

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Mark
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PostSubject: Re: Greece NO vote / now what happens   Wed Jul 15, 2015 8:46 am

I noticed the on the street exchange rate over there was only €1.32, checked this morning and it's still about €1.39 here, so there's a pitfall to observe.

It seemed to me that anything involving a bank over there attracted an extra commission, that's why cash is so favoured. Jan went to buy ciggies with a card and was charged an extra £15 to cover the commission the retailer had to pay.

Most of the Greeks I spoke to about the current situation - and I avoided it after a few days as they would go on and on about it lol! - but they just seemed resigned to their plight, and sort of had the attitude of "well we've got nothing now so how worse can any deal be?".

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