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http://www.bloomberg.com/quote/ASE:IND

What the hell is happening in Greece? Havent Germany%France aided them?

Stocks Market is down %16.65 at the moment.

-%42.12 return in last 1 year.

A country is sinking down right before our eyes.

More austerity will simply kill growth. In fact for fiat money system, the only way forward is to borrow more and more, if you want a sane fiscal policy, then you can not use inflative fiat money system, you must use gold or bitcoin based deflationary monetary system

Greece to the moon :D

http://media3.giphy.com/media/tXLpxypfSXvUc/giphy.gif



























(I mean bitcoin..)

Greece will receive another money from EU countries and will continue to spend it  ;D

i dobut they continue this farce, EU will not pay anything more in terms of helping them, if they can't come up with something that can get rid of their bad economic condition, they are probably out of the european union, for good this time

it would be funny if they waste the last 80B loan, that they borrowed from the central bank...i think it's a likely scenario bound to happen eventually

All the ECB has done is extended a guaranteed dead. The final destination of Greece is suffering and poverty, it's either now, or it's either in a matter of months when shit will hit the fan. Greece should be treated like a post-war country which is exactly the situation it's at and get some real help, not this austerity bullshit.

Never waste a good crisis.

Pretty sure ECB will smash every cent out of the Greeks, it will end in a defauld.

It is bullshit, but its not like the government is collapsed. As incompetent they may or may not be, you need to cut the head to replace it with a new head, because that's pretty much what is "given as real help to post war countries".

Just watch the American, that's how they do it. (Though they arent shy of dealing the destruction themselves first either ;P)

I'm not sure anything more is going to roll unless they sell out Greece. But what do i know.

this is nothing. worst problems has still to show up for greece. greece people thinking the problems will solve itself don't know what's going on, or they simply don't want to know it.

How do you know this? Are you greek or live there or watch interviews and news in which greeks have been saying this? No, I want to know the authenticity of your source. Greece knows exactly how important Greece actually is for EU, and now that they are in a situation, they are making good of their political and geographic location in the world. Otherwise, Russia would try to gain Greek land and it will be a huge issue for the US..

I can picture the headlines now, "Greece squanders loan on drugs and prostitutes".

There are alot of educated people who have adjusted for this and pulled their money out because they saw the disaster coming. This would be the market adjusting the price prior.

To some point inflating money is good as it allows people to take on loans with low interest from banks and boost the economy. If the system only had a fixed amount of money banks would rent at much higher rates where no businesses could afford a loan, slowing economy, slowing buying power,even slower economy etc.

The current situations is not perfect, but that is what we have at the moment.

There is some blood being shed today in the markets
That said it was expected given that the market has finally had a chance to adjust itself.
http://www.bbc.co.uk/news/business-33754005

The main Athens stock index, the Athex, ended the day down by 16.23% as trading resumed after a five-week closure.

The nation's top four lenders - Piraeus Bank, National Bank, Alpha Bank and Eurobank - fell the most, all down 30%, the maximum allowed. Banks make up about a fifth of the index.

Expect more bank pain tommorrow and also for people to realize the utility of a cash reserve if you want to take advantage of deals.

In accordance with conditions laid down by the government and the European Central Bank, local investors are not allowed to buy shares with money from their bank accounts, only with cash kept in safe deposit boxes or at home

Check the news. Puerto Rico already down, much bigger than Greece. Greece will meet the same fate, it's not about if but about when, and will be sooner than we think.

I am warming to this more. My thinking is if a currency is fixed and will not inflate where does that leave the unborn? Sure they can borrow from or provide services to current holders, but isn't that similar to todays fiat system? The only difference would be that people would lend what they hold and not create something new to lend. Quite a trivial difference in 200 years time really. Lenders could still request interest which would result in inevitable defaults somewhere down the line.

Contemplating the best fora this species is a right headache. So I am tempted to conclude the same as you.

The current situations is not perfect, but that is what we have at the moment.


Its gonna happen before tomorrow?!?!?

Seeing as the situation in Greece is seemingly getting worse with the overall EU economy not looking great,  I predict it should keep going down as other countries follow Greece's path.

What will happen when Greece is down ?
Do another country lend some money to help or just let it happen and don't do anything?
Im interested on this Greece situation but im not really good at this economical stuff  :P

this whole thing with greece being down, the bitcoin value is still at 270sih.

so I dont think the price will be based on greece, although there will be more people towards bitcoin since they cant get money out of their banks period..

I will cut the story short and give you a little important points you could research about. Eurozone needs Greece on their side to maintain political stability in the circle, and also they'd like Greece to pay interest on money or sell them their assets. Greece knows exactly how important they are, based on their geographical location. The US would certainly not appreciate Russia making a deal with Greece and stepping on the Greece land.

This thread is old and I wanted to write on it not to give the answer to the author which make the answer because he without doubt know the answer of it now that the situation is evolved to much but to give life at this thread about Greece because I believe that the issue "Greece" deserve continue attention in every point of view by anyone and more and more every day which passe. It is important discuss about them because is a problem not only Greek. Near this country (in the economic meaning) is Italy one of the most important and powerful economy of the world, is Spain (the same position) it were Ireland and Portugal and tomorrow may be to many others country.

So, the Greece continue to be in crisis. Even with new agreement there is not solved nothing yet. The donors may see changes in order that they give the money and the story of Greece has shown that the changes for the Greeks are very difficult to be made. Tsipras is a demagogue that today made a move and tomorrow another totally different compared with the first. It was not so with the referendum? In one hand he were in talks about the agreement with the European countries and on the other hand has declared the referendum invited the people to not vote that agreement. He has won the last elections and with to many probabilities will be again the first minister of Greece.

I'm sure that we will have other surprised news from Greece in the days to come.