Latest news in is that Greece's Govnt has voted in for the 50M Euro loan, but has to pay back by 2015. Each family in GREECE is now in debt to the meagre amount of 19,000 Eu, as a result of that decision today.
Goodbye Euro.
(when the suitors follow in bank break downs)
I wonder how much of the land and businesses, properties, assets and politics the Chinese will invest in this opportunity? 😲
Beware!
-m.
Originally posted by KazetNagorraAccording to utherpendragon the U.S. is in even worse shape than Greece so perhaps - if utherpendragon is right - it will be the U.S. that will default before Greece does.
It's highly doubtful a Greek default will lead to the end of the Euro. Why would it? Greece is a tiny part of the Eurozone (3%, IIRC).
Originally posted by KazetNagorraTotally agree with this statement, its going to have to get much worse for the Euro to collapse: Portugal, Spain, Italy?, a blip, France and Germany are too far in economically to let it fall apart....F$£3$ng media hype, all gettin a sun tan whist conveying doom too the working class masses on breakfast telly. I bet its not even on the U.S. radar, even if it was, which I doubt they probably couldn't give a Monkeys F.............let alone know where Greece is on a globe for that matter!!
It's highly doubtful a Greek default will lead to the end of the Euro. Why would it? Greece is a tiny part of the Eurozone (3%, IIRC).
Originally posted by KazetNagorraWe knew you were an elitist in an Ivory Tower but this comment is about as ignorant as something whodey would post.
This could get interesting. I just hope it doesn't have too much effect on the parts of Europe where people sometimes work instead of rioting and striking.
I don't blame WORKERS for rioting and striking when they are going to be forced to lose their jobs or pay much higher taxes to bail out foreign bankers.
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Originally posted by no1marauderJust came across the following today--
We knew you were an elitist in an Ivory Tower but this comment is about as ignorant as something whodey would post.
I don't blame WORKERS for rioting and striking when they are going to be forced to lose their jobs or pay much higher taxes to bail out foreign bankers.
www.ritholtz.com/blog/2011/06/not-the-greeks-but-their-creditors-are-being-bailed-out/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Originally posted by vistesdThat sums it up concisely. What a sham of a system. It would be a pleasure to see everyone default on everything.
Just came across the following today--
www.ritholtz.com/blog/2011/06/not-the-greeks-but-their-creditors-are-being-bailed-out/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Originally posted by KazetNagorraHere's some info they might not have mentioned in your grad school:
This could get interesting. I just hope it doesn't have too much effect on the parts of Europe where people sometimes work instead of rioting and striking.
South Korea's hard-working citizenry is not alone. Greece comes second in the OECD's rankings with 2,052 hours worked on average each year, and just behind is a trio of Eastern European nations: Czech Republic, Hungary and Poland. The U.S. is also above the OECD average of 32 nations, coming at No. 9, with 1,797 hours worked on average each year.
One nation that is famed for a short working week is France, whose 35-hour week is currently in a state of flux. But even the French aren't the OECD's most leisurely workers: Bottom of the list are the tall and amiable Dutch, who work an average 1,391 hours per year, preceded by Norway and Germany.
(Emphasis supplied)
http://www.forbes.com/2008/05/21/labor-market-workforce-lead-citizen-cx_po_0521countries.html
LMAO!
Originally posted by no1marauderThe Greeks have only themselves to blame for their economic collapse, after years of carelessly living beyond their means, having public sector workers retiring early and enjoying a splendid banquet of benefits and generous wages, etc, it shouldn't come as a surprise to them that when the bubble finally burst they'd have to tighten their belts.
We knew you were an elitist in an Ivory Tower but this comment is about as ignorant as something whodey would post.
I don't blame WORKERS for rioting and striking when they are going to be forced to lose their jobs or pay much higher taxes to bail out foreign bankers.
The recent Greek riots are not too different from those which happened in France not to long ago, the people carrying out the senseless vandalism are always the usual suspects, anarchists, indolent workers accustomed to artificially inflated wages ,etc. One can only wonder what solution to the real problems facing Greece they have in mind, other than setting things on fire and disrupting public services.
Having said that it is true that governments which have been hardest hit in this crisis have been too lenient with the banks, some heads will have to roll before the people can feel justice has been served, even if superficially.
Originally posted by generalissimoTypical right wing tripe. The figures quoted as regards the Greeks make your claims ludicrous; the average Greek works far more hours than workers in virtually any other country in the world and the "generous wages" you have invented are a fantasy; their workers are paid quite a bit less than virtually every country in the EuroZone. Blaming the workers for something they had nothing to do with is a necessary first bit of spin to reach into their pockets to bail out irresponsible bankers and members of the Greek kleptocracy.
The Greeks have only themselves to blame for their economic collapse, after years of carelessly living beyond their means, having public sector workers retiring early and enjoying a splendid banquet of benefits and generous wages, etc, it shouldn't come as a surprise to them that when the bubble finally burst they'd have to tighten their belts.
The ...[text shortened]... s will have to roll before the people can feel justice has been served, even if superficially.