If Greece defaults

[eerygarden]

The precedent that Greece abandoning the Euro sets would be devastating. It means that Germany or France could do so if they ever pleased, and the possibility of that happening would place the Euro in a lot of trouble.

Why wouldn't they go, they saw a country in the same euro group fall to its knees, despite making promises to return what it was. There is no way better for these countries, with all the drama that is happening, this is the best time for them. All other countries will leave, it will leave Eurozone worthless, and I think Greece knows that and they are making excellent advantage about that as well as the importance of their geographical location, which Eurozone values immensely.

Because the politicians are paid off, and they dont do what the people want but what their puppet-masters want.

Just look at the referendum, if that is not enough proof then i dont know what is. The people specifically said "no", and they couldnt even keep their promises for 2 fkin days!

Well just keep in mind theres not much they can do.

Just like everyone has influence and has money, people get bought out and they make the game in their favor.

Yes the entire system: political & financial is rotten to the core. These abominational policies like QE forever and endless regulations and high taxes are slowly dooming humanity and the creativity of the human soul.

If this persists, humans will become walking zombies in a few decades with empty souls and brains filled with propaganda.

So long as there's no famine .....

[n2004al]

In my country we had total economic devastation during the 1990s, the government made radical decisions and everyone had to work hard to restore the economy, we used to owe 30k million US$, 20 years after we now lend money to poor countries. A miracle called Peru!

In short, just let it go as deep as Greece people need to realize that the solution requires of everyone participation.

In my country too we have good problem in the years 1990. We too worked hard for many years and are at levels unimaginable before. Not at the level to give money or credits to the others but for our lives we are far, far more better than those years. the key word is: work.

But I have a question. Greece had only credits without work for to many years. Do they know that for having money and prosperity needed not credit for work? Or better: Needed hard work and don't needed credit. Do they able to fulfill this simple axiom?

[Erdogan]

In my country we had total economic devastation during the 1990s, the government made radical decisions and everyone had to work hard to restore the economy, we used to owe 30k million US$, 20 years after we now lend money to poor countries. A miracle called Peru!

In short, just let it go as deep as Greece people need to realize that the solution requires of everyone participation.

In my country too we have good problem in the years 1990. We too worked hard for many years and are at levels unimaginable before. Not at the level to give money or credits to the others but for our lives we are far, far more better than those years. the key word is: work.

But I have a question. Greece had only credits without work for to many years. Do they know that for having money and prosperity needed not credit for work? Or better: Needed hard work and don't needed credit. Do they able to fulfill this simple axiom?

I salute you, and hope that the prosperity is based on freedom, the rule of law, and private property, not redistribution, else you will have to do it again soon.

[bitcollins85]

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

[eerygarden]

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

I think they already announced that a third bailout has been agreed.

[Erdogan]

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

I think they already announced that a third bailout has been agreed.

Deal or no deal, the problem is not solved. They try hard to tell a story to the ignorant mob that the debt problem can be solved, without casualties. It can't. Someone is going to lose. Probably all of us ants. Remember to get your coins today!

[Gronthaing]

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

Even more than they have until now. And raise $50 billion they don't have somehow. That's a recipe for disaster. Doubt the country will remain stable throughout it all.

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

I think they already announced that a third bailout has been agreed.

Yes. But I don't know how that will go. The government will probably face a no confidence vote soon. Most of the members of the party don't support the government in this. If it continues and the vote fails there will have to be new elections.

[qiwoman2]

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

Even more than they have until now. And raise $50 billion they don't have somehow. That's a recipe for disaster. Doubt the country will remain stable throughout it all.

I still hope that there will be a temporary deal: Greece gets a lifeline. Greece will survive for years to come on the BCE restricted money supply, forcing Greek governments to drastic cuts in the state salaries and pensions

I think they already announced that a third bailout has been agreed.

Yes. But I don't know how that will go. The government will probably face a no confidence vote soon. Most of the members of the party don't support the government in this. If it continues and the vote fails there will have to be new elections.

I personally think the other parties like NDP and PASOK will vote in favor of Tsipras to stay in power but how he will resolve in fighting and Lafasanis with the left platform we shall see. I personally would like to see him say on to fight all the corruption and tax evasion.

[bryant.coleman]

I personally think the other parties like NDP and PASOK will vote in favor of Tsipras to stay in power but how he will resolve in fighting and Lafasanis with the left platform we shall see. I personally would like to see him say on to fight all the corruption and tax evasion.

So, in short, Tsipiras is getting support from New Democracy and PASOK, but his own SYRIZA party is against him? That means that he is no longer in SYRIZA. He has defected to the pro-banker camp. The Greek people deserve something better than this. They voted against the troika in the referendum. And still, Tsiparas is following the orders from the troika.

[GreenStox]

The precedent that Greece abandoning the Euro sets would be devastating. It means that Germany or France could do so if they ever pleased, and the possibility of that happening would place the Euro in a lot of trouble.

Why wouldn't they go, they saw a country in the same euro group fall to its knees, despite making promises to return what it was. There is no way better for these countries, with all the drama that is happening, this is the best time for them. All other countries will leave, it will leave Eurozone worthless, and I think Greece knows that and they are making excellent advantage about that as well as the importance of their geographical location, which Eurozone values immensely.

Because the politicians are paid off, and they dont do what the people want but what their puppet-masters want.

Just look at the referendum, if that is not enough proof then i dont know what is. The people specifically said "no", and they couldnt even keep their promises for 2 fkin days!

Well just keep in mind theres not much they can do.

Just like everyone has influence and has money, people get bought out and they make the game in their favor.

Yes the entire system: political & financial is rotten to the core. These abominational policies like QE forever and endless regulations and high taxes are slowly dooming humanity and the creativity of the human soul.

If this persists, humans will become walking zombies in a few decades with empty souls and brains filled with propaganda.

So long as there's no famine .....

Well there is, many folks got kicked out of their house, foreclosure, the banks are nasty etc.

Homeless people getting more and more, and they are starving, as they cant even get money from begging like they used to, because everyone is poor.

Looks like greece will have big riots soon, SYRIZA is just controlled oposition, they wont do jackshit about the economy.

[Erdogan]

The inflation (as in a general price increase) can not be determined. If you take into account all prices, the increase or decrease of the prices is solely dependent on the quantity of money and the holding preferences for money amongst the public.

Wrong. There is a very important institution named Central Bank that have as principal duty the control of inflation. There are to many monetary policies that can be used to control this. If the inflation would be not controllable the economy will be in chaos and everyone will have big difficulties in its everyday life.

Correct. If the inflation cannot be controlled every salary or pension will lost his bought power very soon and continuously. So no one will be able to assure their needed things to do a normal life. Needed more money to live normally, more money mean more inflation and this will be a closed circle without end.

^
^^

Overconfidence in the central banks. They either don't know shit, or they don't tell you.

The central bankers have few means to control the exchange rate of the money they manage. For the short run, they can create more money and lower the interest rate (they have to create money to lower the interest rate), and people like that, because the low interest enables investment and spending. But after a while, the new money will be dispersed leading to higher prices over all, which is the same as lower money value.

Otherwise, they can use foreign money reserves to buy up their own money. That works as long as they have more left.

[GreenStox]

The inflation (as in a general price increase) can not be determined. If you take into account all prices, the increase or decrease of the prices is solely dependent on the quantity of money and the holding preferences for money amongst the public.

Wrong. There is a very important institution named Central Bank that have as principal duty the control of inflation. There are to many monetary policies that can be used to control this. If the inflation would be not controllable the economy will be in chaos and everyone will have big difficulties in its everyday life.

Correct. If the inflation cannot be controlled every salary or pension will lost his bought power very soon and continuously. So no one will be able to assure their needed things to do a normal life. Needed more money to live normally, more money mean more inflation and this will be a closed circle without end.

^
^^

Overconfidence in the central banks. They either don't know shit, or they don't tell you.

The central bankers have few means to control the exchange rate of the money they manage. For the short run, they can create more money and lower the interest rate (they have to create money to lower the interest rate), and people like that, because the low interest enables investment and spending. But after a while, the new money will be dispersed leading to higher prices over all, which is the same as lower money value.

Otherwise, they can use foreign money reserves to buy up their own money. That works as long as they have more left.

But the whole concept of controlling the money supply is ridiculous.

Yes with higher rates we would have slow economic growth, but it would be much more safe for investors.

I think we should have a permanent 7-15% interest rate, fuck the speculators i dont want my money to lose 99% of its value in 30 years.

[risingtide]

Greek Crisis - Breakdown Of Situation With Mike Maloney
https://www.youtube.com/watch?v=QowxTnF02DU

Its great that this guy explains what most of us know.

But, that guy also a gold selling person on his websites, and other book selling on gold. So the video is more of a indirect pitch to buy your trust as a "come buy my gold by me" since I showed you a educational video and now you trust me thing.

I think it's fine if he really believes in gold. No shame in profiting from something if you think that's what the world needs.

[mrhelpful]

Greek Crisis - Breakdown Of Situation With Mike Maloney
https://www.youtube.com/watch?v=QowxTnF02DU

Its great that this guy explains what most of us know.

But, that guy also a gold selling person on his websites, and other book selling on gold. So the video is more of a indirect pitch to buy your trust as a "come buy my gold by me" since I showed you a educational video and now you trust me thing.

I think it's fine if he really believes in gold. No shame in profiting from something if you think that's what the world needs.

I think his point is overlooked. That hes mentionign its another sales person to increase gold sales.

But yeah, if the world needs gold why not invest in it. Just depends on the sizable risk.

[Eodguy149]

I'm always confused that markets are just looking for a sign of hope that maybe some party will "possibly" lend more money to a broke and insolvent country.

It's crazy to me that Greece willingly put its land into an escrow account so that they could be loaned money to pay back the countries that loaned them that same money. They basically sold their own country so that Europe could print more money and pay itself back. 

[HarHarHar9965]

I'm always confused that markets are just looking for a sign of hope that maybe some party will "possibly" lend more money to a broke and insolvent country.

It's crazy to me that Greece willingly put its land into an escrow account so that they could be loaned money to pay back the countries that loaned them that same money. They basically sold their own country so that Europe could print more money and pay itself back. 

I think Greece is smarter than that, they made the choice knowing how important their geographical location is, so they would never be overthrown, because they've made allies. If US and Russia war takes place, Greece's location will play a significant role in it. Also, when they became a part of that eurozone, they knew their importance and if they leave the EuroZone, soon there will be none left so Euro won't really kick Greece out either

[ummina]

But in the event of a delayed repayment, according to IMF protocol, Greece could be afforded a 30-day grace period,
during which it would be urged to pay back the money as soon as possible,
and before Ms Lagarde notifies her executive board of the late payment.

[GreenStox]

But in the event of a delayed repayment, according to IMF protocol, Greece could be afforded a 30-day grace period,
during which it would be urged to pay back the money as soon as possible,
and before Ms Lagarde notifies her executive board of the late payment.

And do what, milk the taxpayers more?

They cant pay it, unless they start printing their own worthless money, which will then further downgrade the economy.

I just think crypto currency is their only saviour, from their wreckless government and banks

[n2004al]

Greece will be again in a big mess with the resignation of Tsipras and with the division of Syrisa. The new political appearance will be unknown and very difficult to be managed. This mean difficulty with the partners and withe reforms. I bet that soon will be more troubles there.

[alani123]

As we're heading towards elections once more, I think it's likely that Syriza will still be the first party. With losses for sure, but I believe that people appreciated the fight Syriza gave and the honesty of the prime minister. It's not like the majority of the Greek population turned radical when voting for Syriza. Staying in the euro was the most desired outcome by Greek people and Syriza went by that direction.