If Greece defaults

[HeroCat]

If Greece defaults - will be similar to some African countries. International funds will not give money to Greece and nothing more. 

[Searing]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

now as to those not quick enough for this ...and Greece defaults for real...well I say there will be a big take notice moment for BTC at that moment

not sure how that will play out at that point in that most of the ship would have sunk ..but still ....its something

(then again I know squat)

[markj113]

If Greece defaults - will be similar to some African countries. International funds will not give money to Greece and nothing more.  

Firstly not sure why you find the above funny as a lot of hard working honest normal people are going to suffer.

Im sure Greece existed and prospered pre EU and scamming bankers for 1000's of years.

They need to tell them to stick the debt, default and make a fresh start with their own currency working with Russia/China.

Fuck the bankers.

[Erdogan]

Creating the euro was an attempt to restrain the states, that is, they wanted to create sound money. It somewhat worked, but then the european central bank was taken over by bandits, and they set out to destroy the soundness of the euro. A coup d'etat. Draghi is the suspect.

[LiteCoinGuy]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

unfortunately, no.

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking

[BillyBobZorton]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

unfortunately, no.

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking

Yeah I can confirm there are lines in banks, because people is so delusional that they waited until the last moment to get their money out. If I was in Greece, I would have been getting money in small amounts since at least 3 months ago until I got all of it out. Source: some Greek friend.

[LiteCoinGuy]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

unfortunately, no.

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking

Yeah I can confirm there are lines in banks, because people is so delusional that they waited until the last moment to get their money out. If I was in Greece, I would have been getting money in small amounts since at least 3 months ago until I got all of it out. Source: some Greek friend.

If I was in Greece, I would have been getting money in big amounts since at least 5 years ago until I got all of it out.


but people must undergo this:

[BillyBobZorton]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

unfortunately, no.

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking

Yeah I can confirm there are lines in banks, because people is so delusional that they waited until the last moment to get their money out. If I was in Greece, I would have been getting money in small amounts since at least 3 months ago until I got all of it out. Source: some Greek friend.

If I was in Greece, I would have been getting money in big amounts since at least 5 years ago until I got all of it out.


but people must undergo this:

Yes, anyone with economic knowledge would have seen this happening since 2008-2009 after the first crash, but I guess most people don't pay attention to economic trends, but evne "normal" people that don't care about the economy should have seen as obvious 3 months ago that the time to start considering getting some cash out was now (as in 3 months ago).

[coinableS]

they are screwed right? what will happen after they will leave the eurozone? their citizen will go abroad? or there is a chance that they can start from zero?

surely those without money need to do somethign if they do not want to die...

in my view the normal Greek citizen has been taking all his cash out of the banks etc as we speak and sitting on Euros just in case

its what I'd do ...

unfortunately, no.

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking

Yeah I can confirm there are lines in banks, because people is so delusional that they waited until the last moment to get their money out. If I was in Greece, I would have been getting money in small amounts since at least 3 months ago until I got all of it out. Source: some Greek friend.

I think there was some false hope provided to some when Russia offered the oil deal with Greece last week. Then I guess every remembered that the deadline is on Tuesday and rushed the ATMs after they announced again there would be no extension on the deadline.

[centauribit]

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking


  ...

According to reports, the amount of money that seems to have fled from the ATMs just today is estimated to be around 1 billion euros

[Searing]

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking


  ...

According to reports, the amount of money that seems to have fled from the ATMs just today is estimated to be around 1 billion euros

well IF Greece defaults on the stuff....what is the plan

does the Greek Gov't announce the return of their Drachma(?) currency (I think it is called)

or do they simply keep using the Euro currency as their main currency and ride it down with the rest of the EU with such a Greek default annoucement?

(If I was Greek Gov't I'd still say the Euro was the currency of Greece....not much the EU could do about that I'd imagine)

feel free to tell me I don't know wtf I'm talking about ...but am mystified on what happens after they default (short term and/or long term)

[coinableS]

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking


  ...

According to reports, the amount of money that seems to have fled from the ATMs just today is estimated to be around 1 billion euros

well IF Greece defaults on the stuff....what is the plan

does the Greek Gov't announce the return of their Drachma(?) currency (I think it is called)

or do they simply keep using the Euro currency as their main currency and ride it down with the rest of the EU with such a Greek default annoucement?

(If I was Greek Gov't I'd still say the Euro was the currency of Greece....not much the EU could do about that I'd imagine)

feel free to tell me I don't know wtf I'm talking about ...but am mystified on what happens after they default (short term and/or long term)

Someone please correct me if I'm wrong but I believe you are right. If they default I understand that will lead to Greece leaving the Euro (aka Grexit) and they will return to their own locally issued currency.

[bryant.coleman]

According to reports, the amount of money that seems to have fled from the ATMs just today is estimated to be around 1 billion euros

€1 billion is still a relatively small amount, and represents only a small fraction of the total Greek savings (at 2014 level). Compare that to the €11 billion which was stolen from the depositors by the troika during the Cyprus haircut (and the population of Cyprus is less than 1/10th of that of Greece). I think that most of the Greeks had already withdrawn their savings from the banks.

[Searing]

http://www.zerohedge.com/news/2015-06-26/its-2-morning-and-greeks-are-lining-atms-alpha-limits-online-banking


  ...

According to reports, the amount of money that seems to have fled from the ATMs just today is estimated to be around 1 billion euros

well IF Greece defaults on the stuff....what is the plan

does the Greek Gov't announce the return of their Drachma(?) currency (I think it is called)

or do they simply keep using the Euro currency as their main currency and ride it down with the rest of the EU with such a Greek default annoucement?

(If I was Greek Gov't I'd still say the Euro was the currency of Greece....not much the EU could do about that I'd imagine)

feel free to tell me I don't know wtf I'm talking about ...but am mystified on what happens after they default (short term and/or long term)

Someone please correct me if I'm wrong but I believe you are right. If they default I understand that will lead to Greece leaving the Euro (aka Grexit) and they will return to their own locally issued currency.

I suppose I could google this ..but I am pretty sure at least in the past other countries have said their national currency was the USA dollar...thus my question.....I'd just say
screw you ...the Euro is still the currency of the country and let the rest of Europe 'eat some of this loss' on the devaluation of the Euro

unless by doing their own currency they can play some kinda game which devalues it by half or some such on its re-launch as the greek currency.thus wiping out 1/2 their
debt by some such trick

(confused)

edit: found this all it says to me is "It would be bad" so still confused

http://www.telegraph.co.uk/finance/economics/11511457/What-happens-if-Greece-defaults-to-the-International-Monetary-Fund.html


ie lots of yelling at Greece being "bad" etc


http://www.cnbc.com/id/102584164

So I guess what it means that on paper Greece is 'completely broke' and owes 'such and such' and can't pay it back...and as a result of being 'broke' and defaulted
we are now gonna devalue your economy by 50% more so that you are even MORE broke ...at least on paper.....so it is like all the thrills of a 17th century debtor's prison

you can default now completely and have a crash and burn and somehow build your economy back in the future  and just from that consequence certain programs
the gov't provided etc are trashed .....

or

you can pass on endless debt from now to the foreseeable future with those same government programs trashed (pensions etc) by the EU
...and dig a bigger hole for the next generation..and still it all can crash and burn ...if the economy does not recover enough to pay back the bankers etc

hell at this rate Russia will come along say it will assume SOME significant part of  Greek debt if it become part of the Russian Economic Union...whatever they call that... (hell it is what I'd do if I was Russia) all that access to Mediterranean ports for the military ....and such a PR coup........sh*t


oh boy lets bring the 4 horseman of the apocalypse into this also  ...just to round everything out (ouch!)

http://www.independent.ie/opinion/comment/beware-the-four-horsemen-circling-europe-greece-russia-migrants-and-brexit-31331358.html



off to do more.... google to be more be confused (well rounded I will be confused by fiat as well as crypto)

[qiwoman2]

I don't know if there will be any capital control sheering like there was here in Cyprus..but a complete re education of the populace has to take place. Most people have no clue about money management and there in lays the problem. They are just fed by the mass media with their nasty agendas and have no clue about economics and how these economic systems in place are put there to deliberately impoverish generation by generation till they are complete slaves...Only now the Greeks are waking up to this but taking all their money out of ATMS is not what is going to set them free.. Re aligning their realities and thought processes with a healthier economic system is the only way to get ultimate freedom. If they are still hooked up in this matrix economic system of boom and bust, they will be like hamsters in a cage, just going round and round until they drop.  Greeks should be looking to create a resource based and cooperative economy which would automatically lift millions out of poverty.. I am surprised no one there has yet thought of this. We have enough land to feed the Greek population ten times over and do exports.

Eco and sustainable homes cost between 10-20k max to build, far more affordable..using the Kibbutz system or something similar there in the villages and even in the cities would catapult the Greek economy to new heights.

[deon]

Some great comments here.  I think I am gonna go ahead and buy a bitcoin.  I notice the price is already back up at this point. 

Like qiwoman2 said,  I believe the Greeks have problems with money management.  But, I think the people of the US are similar to the Greeks,  Greece can't mess with their currency like the US can.  Monday will be interesting at the banks in Greece.

[GreenStox]

Some great comments here.  I think I am gonna go ahead and buy a bitcoin.  I notice the price is already back up at this point. 

Like qiwoman2 said,  I believe the Greeks have problems with money management.  But, I think the people of the US are similar to the Greeks,  Greece can't mess with their currency like the US can.  Monday will be interesting at the banks in Greece.

But 10 bro, the price is only going up from here, the geo political situation is inside a pit right now, markets are crashing soon, and bitcoin will go up!

[Erdogan]

Some great comments here.  I think I am gonna go ahead and buy a bitcoin.  I notice the price is already back up at this point. 

Like qiwoman2 said,  I believe the Greeks have problems with money management.  But, I think the people of the US are similar to the Greeks,  Greece can't mess with their currency like the US can.  Monday will be interesting at the banks in Greece.

A real, non-trolling newbie with the right attitude. How special. I like it.

[n2004al]

Which will be the answer of the Greece to the referendum? I bet that they will choose to not accept the conditions of the IMF and ECB an Europeans countries...

Who can imagine the end after this? It will be not like wanted John Lennon.

[tyz]

This morning I read the English version of a Greek newspaper which says 47% will vote with Yes, 36% with No and 17% have not decided yet. So, it could become a close run.

Which will be the answer of the Greece to the referendum? I bet that they will choose to not accept the conditions of the IMF and ECB an Europeans countries...