If Greece defaults

[illyiller]

....say Greece defaults, exits the EU one way or another. What then? What happens to the EU, and to the Euro? Will it recover, or will this result in other countries following suit?

[bryant.coleman]

so payments bundled and delayed -- end of the month, are we prepared to see doomsday? i will have my finger on the trigger on the EURUSD market at that time....

It seems that in the end they will make the payment. According to the Greek government sources, they are trying hard to secure the money from whatever sources available. Indications are that they will not default on the payments, although there will be a slight delay. If the payment actually happens, then I can see EUR rallying against the USD, for the short term.

[Erdogan]

so payments bundled and delayed -- end of the month, are we prepared to see doomsday? i will have my finger on the trigger on the EURUSD market at that time....

It seems that in the end they will make the payment. According to the Greek government sources, they are trying hard to secure the money from whatever sources available. Indications are that they will not default on the payments, although there will be a slight delay. If the payment actually happens, then I can see EUR rallying against the USD, for the short term.

Cool story, bro.

[deisik]

so payments bundled and delayed -- end of the month, are we prepared to see doomsday? i will have my finger on the trigger on the EURUSD market at that time....

It seems that in the end they will make the payment. According to the Greek government sources, they are trying hard to secure the money from whatever sources available. Indications are that they will not default on the payments, although there will be a slight delay. If the payment actually happens, then I can see EUR rallying against the USD, for the short term.

Cool story, bro.

Oh, well, Greece exits, or, rather, gets kicked from the Eurozone, then they get excluded from the Schengen Zone, their NATO membership is suspended... And after that they take back Constantinople (with Russian arms and money), wtf

[Mr. ass]

The future of Greece is together with Putin

http://www.tribune.gr/wp-content/uploads/2015/03/putin_pirinika-630x370.jpg

[Searing]

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

well I think Iceland had some real real issues like this at the last banking crisis (not sure if i remember correctly) and they put the bankers responsible in jail..so they are doing ok now i think?

may be like regular bankruptcy once you are out from under ..it would be 'easier' to get your finances in order ...could be the same for Greece just saying to the "EU screw this" might be their best option? (again no idea just saying)

http://en.wikipedia.org/wiki/2008%E2%80%9311_Icelandic_financial_crisis

[kylo87]

Greece not will collapse, may not be able to live more like a long time, and will seek allies elsewhere, .... Putin.

[bryant.coleman]

The future of Greece is together with Putin

Its no joke. Putin will be able to save the Greeks from Financial meltdown. The proposed Turkish stream pipeline will carry around 45 billion cubic meters of gas from Russia to Europe. If the pipeline travels some 1,000 km through Greece, the Greeks will earn around $30 for every 1,000 cubic meter as transit fees. That totals to 1.35 billion USD every year, which will be a huge relief to the debt-ridden nation. And who knows? Putin might even offer advance payments to the Greeks.

[knowhow]

well im sure the news will come and eur wont be down against dollars ,and even the uk wont leave they benefict with it if they left well im pretty sure they will loose more then get soo currently is a both interest to stay on euro zone... even with some countrys facing huge problems,putin can really save greece problems ,but when it will start if will start those program..

[AtheistAKASaneBrain]

They've been saying for ages now "We are at the verge of a Greexit" but there is always one more month.. that by the time things get really serious, no one will believe any of them. Good ol boy cried wolf story.

[bryant.coleman]

even with some countrys facing huge problems,putin can really save greece problems ,but when it will start if will start those program..

The Turkish Stream is currently under construction. So in normal scenario, it will take many years for the Greeks to receive their first revenue from the pipeline. I just hope that the Russians will give an advance payment for the transaction fee, thereby reducing the chances of Greece defaulting on its debt. But I am not sure about it, as Russia is struggling financially right now.

[BillyBobZorton]

It's been clear now that the Greeks will never be able to pay the debt, no matter what the fuck happens:




That is how hell looks like. Unfortunately lots of other countries out there will end up with a perpetual debt too. The USA too, but since they are the USA and they can print infinite money, then can get away with anything.

[deisik]

It's been clear now that the Greeks will never be able to pay the debt, no matter what the fuck happens:




That is how hell looks like. Unfortunately lots of other countries out there will end up with a perpetual debt too. The USA too, but since they are the USA and they can print infinite money, then can get away with anything.

If Greece pays the outstanding debts and exits the EU with other countries following it, and the fuck finally happens, their debt may evaporate faster than that of the US may grow...

If there are only debtors around, who owes whom?

[aso118]

even with some countrys facing huge problems,putin can really save greece problems ,but when it will start if will start those program..

The Turkish Stream is currently under construction. So in normal scenario, it will take many years for the Greeks to receive their first revenue from the pipeline. I just hope that the Russians will give an advance payment for the transaction fee, thereby reducing the chances of Greece defaulting on its debt. But I am not sure about it, as Russia is struggling financially right now.

If Putin steps in now, he will demand his pound of flesh.
Then the troika won't be amused. Greece can't afford to do that. No matter how helpful Russia is, they still need to humour the troika.

[bryant.coleman]

If Putin steps in now, he will demand his pound of flesh.

Putin has already received his pound of flesh.   Remember that a few months ago, Tsiparas had agreed to route a section of the Turkish Stream pipeline through Greece. The Macedonians have also approved routing the pipeline through their territory, and Putin has finally got the replacement for the South Stream pipeline.

And know what? The troika can't do anything about it.

[qiwoman2]

If I were Tsipras I would pull a Goldman Sachs and take the last billions out of the Central Bank and lever them up to buy a couple of trillion dollars worth of Euro/$US currency swaps from Deutsche Bank and then very publicly tell the Troika to go fuck themselves.

Goldman Sachs was the perpetrator of the fraud that has resulted in this current predicament. Not only did Goldman commit fraudulent acts, the bankers received healthy bonuses for doing so. Nice work if you can get it....and live with a clean conscience.

I agree, the combination of corrupt politician, the rich Greeks taking all their money out and not paying taxes, the borrower's lifestyle and the stupid derivatives the Govt bought from wall street is what made the country collapse along with the most stupid EU policies that helped destroy the agrarian sector and small manufacturing sectors..Greeks need to wake up, use their brains and carve a new future for themselves..best of all is a debt write off for now and let the Greeks grow the country again. After that, any bit of surplus left over they can pay back to the creditors as a token of good will..The Germans still owe Greece war reparations..so let them pay off some of the debt..

[deisik]

If Greece pays the outstanding debts and exits the EU with other countries following it, and the fuck finally happens, their debt may evaporate faster than that of the US may grow...

If there are only debtors around, who owes whom?

The new Greek FM and PM must have seen this coming...if the people rally around them and the Russians or Chinese write a cheque...this will be a walk in the park...couple of weeks from now....

Bye bye EUR!

Let the breakdown of EUR begin.

Other nations will be idiots if they do not follow suit in salvaging whatever national self interest remains instead of listening to the Germans or ECB or whoever runs the asylum in EU.

Ha-ha, nice turn!

[muhrohmat]

its not the fact that greece can be out of euro that makes it more reliable for using bitcoins i do wish greece can overcome this risk and be less nervouse in bussiness and porfit for the all good fo euro and for the good sake of bitcoin in greece cause euro makes bitcoin comparation a good example to use just less currencies fiat in order to trade from euro to btc and vice versa.

[knowhow]

well rusia can make a unlimited income to greece i doubt troika will stop those potencial incomes from the country that is loosing more and more all the time... the only way to avoid be out of europe that dindnt happened till the moment is wait russia to start the project .otherwise we will see greece taking more money or just out of eurozone in the next months... too many pression already

[bryant.coleman]

well rusia can make a unlimited income to greece i doubt troika will stop those potencial incomes from the country that is loosing more and more all the time... the only way to avoid be out of europe that dindnt happened till the moment is wait russia to start the project .otherwise we will see greece taking more money or just out of eurozone in the next months... too many pression already

It is not that simple. If the EU allows Russia to build the Turkish Stream pipeline through Greece, then Ukraine will lose billions of USD worth of revenue every year in terms of lost gas transport fees. It will destroy the already damaged Ukrainian economy. The EU will have to make a very tough choice. Either it should allow Ukraine to collapse, or it should forget about the Greek debt.