If Greece defaults

[bit1]

http://cointelegraph.com/news/114712/300-increase-in-bitcoin-buys-across-eu-as-greece-falls-into-arrears

[HigsonPP]

Greece has defaulted with 1.7 Billion euros and it keeps asking for bailouts. I hope Greece starts printing its own currency, if they already did, they wouldn't have been in a situation of such a debt. They will probably get their ass kicked from the euro zone and then exit the global market. Nobody would give a fuck about Greece for the next 10 years...

[Argwai96]

Greece has defaulted with 1.7 Billion euros and it keeps asking for bailouts. I hope Greece starts printing its own currency, if they already did, they wouldn't have been in a situation of such a debt. They will probably get their ass kicked from the euro zone and then exit the global market. Nobody would give a fuck about Greece for the next 10 years...

If greece begin to print out their own money the devaluation of it is gonna be crazy just by defaulting those 1.7 billon euros, i think the people are going to suffer a lot after all this.

lets see what happens.

[dblink]

 Although the exact process is uncertain, falling into a protracted arrears procedure could have major consequences for continued financial assistance from Greece's other creditors - the European Central Bank and European Commission.

"If Greece defaults to the IMF, then they are considered to be in default to the rest of the eurozone," says Raoul Ruparel, head of economic research at Open Europe.

[Gronthaing]

Greece has defaulted with 1.7 Billion euros and it keeps asking for bailouts. I hope Greece starts printing its own currency, if they already did, they wouldn't have been in a situation of such a debt. They will probably get their ass kicked from the euro zone and then exit the global market. Nobody would give a fuck about Greece for the next 10 years...

If greece begin to print out their own money the devaluation of it is gonna be crazy just by defaulting those 1.7 billon euros, i think the people are going to suffer a lot after all this.

lets see what happens.

Problem is they don't have any good alternatives. If they go back to the drachma they will suffer. But it's not like they're not suffering now. A good portion of Greeks already live below the poverty line. There is a lot of unemployment. And the troika wants austerity to increase even more.

[Amph]

Greece has defaulted with 1.7 Billion euros and it keeps asking for bailouts. I hope Greece starts printing its own currency, if they already did, they wouldn't have been in a situation of such a debt. They will probably get their ass kicked from the euro zone and then exit the global market. Nobody would give a fuck about Greece for the next 10 years...

If greece begin to print out their own money the devaluation of it is gonna be crazy just by defaulting those 1.7 billon euros, i think the people are going to suffer a lot after all this.

lets see what happens.

they have no other choice, besides leave their country and going abroad, but with the fact that all their account are locked, they don't have the money to do so

their only way is to start from zero, and print again Dracma and hoping that it won't be valued too much under 0.293 euro, like it was at the beginning

[n2004al]

a) If they instigate a new drachma, and lock it to the euro, would not that be exactly the same as using the euro themselves?

No because they will have the possibility to print how much drachma wants. This is not possible with the euro.

But at the end this will be worst because the printing of to much drachma will devaluate it continuously.

[countryfree]

a) If they instigate a new drachma, and lock it to the euro, would not that be exactly the same as using the euro themselves?

No because they will have the possibility to print how much drachma wants. This is not possible with the euro.

But at the end this will be worst because the printing of to much drachma will devaluate it continuously.

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

[jjacob]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

[n2004al]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

I don't think that they will be so courageous to say "yes".

[eerygarden]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

I don't think that they will be so courageous to say "yes".

I think it is more courageous to say no.
No = to defy
Yes = to submit

At least in the minds of most. A no vote is still a submission to tsipras.

[n2004al]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

I don't think that they will be so courageous to say "yes".

I think it is more courageous to say no.
No = to defy
Yes = to submit

At least in the minds of most. A no vote is still a submission to tsipras.

The no doesn't lead to any part. The problems will be greater and the solution will not arrive. With yes there were be problems (big problems) but there must be solutions. Europeans and IMF will not leave that the Greeks die or go under a certain level.

[edric]

In my view, Greece has technically defaulted by applying for an extension. Greece's economic reforms aren't very effective but I believe Greece will not default. They will repay however much they had and apply for another extension or issue new loans for the remaining debt. Eurozone will be lenient on them to avoid calamity. Bitcoin is not going to be a safe heaven for the Greeks. They already hold Euros and it is still a stable currency compared to Bitcoin.

They have already stopped paying the debts and still on look out to fill the deficit of 2.2billion and it can take them as much as 42 years to pay back that amount. Europe will undoubtedly be affected and may pull out the from assisting in emergency situations. That would be bad news on the global front.

[tyz]

The banks consider to keep 30% of all Greek account balances over $8,000 for hair-cut . This is much less then the $100k for Cryprus hair-cut in 2013. 

http://www.ft.com/intl/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html

[GreenStox]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

I think they will say NO, its obvious the the YES camp is only paid shills and "connected" people.

I`m not saying that no austerity is fair, but atleast they will have a future.

[bryant.coleman]

I think they will say NO, its obvious the the YES camp is only paid shills and "connected" people.

I`m not saying that no austerity is fair, but atleast they will have a future.

The YES camp is composed of all the mainstream parties (especially the PASOK and the New Democracy), who created this problem in the first place. These shameless people want the ordinary Greeks to suffer even more. If I was in the place of Tsipiras, I would confiscate all the assets belonging to these corrupt goons (Antonis Samaras, George Papandreou.etc) and distribute them among the poor Greeks.

[qiwoman2]

Older Greeks will remember that. In the old days, before the Euro, every year, the BS drachma was losing 10% of its a value towards towards the mighty Deutschmark. The Euro was a huge chance for Greece, without it would have ended up like Zimbabwe. This is what's going to happen anyway. The Euro was a just a break from Greece's normal history.

The Greeks still have a chance to express their view in the referendum tomorrow.
Right now, it seems too close to call whether they will say yes or no.

I think they will say NO, its obvious the the YES camp is only paid shills and "connected" people.

I`m not saying that no austerity is fair, but atleast they will have a future.

The future to hook up generations of Greeks from their birth to their death to debt slavery is not a very bright future..Greeks should really put on their thinking caps, roll up their sleeves to work hard to create their OWN solution to this complex problem. This is an ethical, political and economic crisis that if sorted out with a new solution could be a paradigm shift for the rest of the world to follow.

[Alley]

One of the 4 major banks will be out of cash within hours.

[pitham1]

One of the 4 major banks will be out of cash within hours.

Even with all those withdrawal restrictions, banks are running out of cash?

[Amph]

One of the 4 major banks will be out of cash within hours.

how do you know that, source? are you a greece's citizen?

One of the 4 major banks will be out of cash within hours.

Even with all those withdrawal restrictions, banks are running out of cash?

well he said only 1 of it, it could be that many are proceeding a withdrawal anyway, even with that restriction, so 60 euro may be a lower amount, but if it multiplied for 1M people, it isn't anymore