Grexit

[Seldoon182]

http://www.thesundaytimes.co.uk/sto/news/focus/article1574457.ece?CMP=OTH-gnws-standard-2015_06_28
http://www.skynews.com.au/news/top-stories/2015/06/28/greek-pm-urges-no-vote.html

Time to make Cold Storage video tutorial in Greek. xD

[jubalix]

It's inevitable somethings going to give somewhere.

I *hope* its the grexit....


but there seems to be always a last minute deal.

eventually though there won't.

[scarsbergholden]

It's inevitable somethings going to give somewhere.

I *hope* its the grexit....


but there seems to be always a last minute deal.

eventually though there won't.

saw it on cnn it was a last minute bail out, they still have to meet the European central bank, anything could happen in the next week or so, then again it would take a bit of time after if Greece defaults for the people actually feel the worst.

[Hollingsworth]

Could this not be an empowering moment for bitcoin? Personal Greek bank holdings are in possible jeopardy... why not put some of your savings in something not so immediately volatile, and out of the government's reach, with btc?

[bryant.coleman]

saw it on cnn it was a last minute bail out, they still have to meet the European central bank

Bailout? It has been rejected by Eurogroup. That is why the Greeks are going ahead with the referendum, on whether they should implement even tougher austerity measures or not. 

And regarding the default, it has been confirmed by Tsiparas that no payment will be made before the deadline (30th June). The referendum is scheduled for 5th July, and only after that date they will make the decision about the payment.

[scarsbergholden]

Bailout? It has been rejected by Eurogroup. That is why the Greeks are going ahead with the referendum, on whether they should implement even tougher austerity measures or not. 

And regarding the default, it has been confirmed by Tsiparas that no payment will be made before the deadline (30th June). The referendum is scheduled for 5th July, and only after that date they will make the decision about the payment.

this was i saw on the cnn, i guess from a glance they making seen like a last minute bail out http://edition.cnn.com/videos/world/2015/06/27/greek-debt-talks-labropoulou-cnni-nr-bpr.cnn

[bryant.coleman]

this was i saw on the cnn, i guess from a glance they making seen like a last minute bail out http://edition.cnn.com/videos/world/2015/06/27/greek-debt-talks-labropoulou-cnni-nr-bpr.cnn

I don't know whether this news is reliable or not. I have searched about this on various other mainstream media sources, such as the BBC and the Guardian, but I can't find any information on it. As per the BBC, the Eurogroup is standing firm, and is refusing to offer any concession at all on the austerity requirements (pension cuts, VAT increases.etc).

[hua_hui]

saw it on cnn it was a last minute bail out, they still have to meet the European central bank

Bailout? It has been rejected by Eurogroup. That is why the Greeks are going ahead with the referendum, on whether they should implement even tougher austerity measures or not. 

And regarding the default, it has been confirmed by Tsiparas that no payment will be made before the deadline (30th June). The referendum is scheduled for 5th July, and only after that date they will make the decision about the payment.

It seems Greece are never able to pay back on time and always ask for bailout! It cannot be like this forever! But it seems they fall in this dilema, creditors have to extend the loan and bailout Greece otherwise Greece will default!

[LiteCoinGuy]

[Kprawn]

They are postponing the inevitable.... Grexit is going to happen, sooner or later. The constant bailouts are just buying them time.

The Greeks have so much Euro stuffed under the mattresses now, it aint even funny.  

If you cannot pay your debt, NEVER make more debt to pay that debt... It's a vicious cycle.. Change your spending habits or STOP spending.  

[bryant.coleman]

It seems Greece are never able to pay back on time and always ask for bailout! It cannot be like this forever! But it seems they fall in this dilema, creditors have to extend the loan and bailout Greece otherwise Greece will default!

Allow them to generate the tax revenue, and then they will be able to pay back their debts. The Greek agricultural, real estate, and the tourism sectors have all been hit hard by the EU sanctions on Russia. Their industrial sector is in shambles, due to the tax increases. Exclude Greece from the EU sanctions on Russia, and allow the construction of the Turkish Stream on Greek territory. Slowly, the Greeks will be able to repay their loans.

[RawDog]

Slowly, the Greeks will be able to repay their loans.

Ooops.  Too slow.  Game over.  Greece done. 

[qiwoman2]

It seems Greece are never able to pay back on time and always ask for bailout! It cannot be like this forever! But it seems they fall in this dilema, creditors have to extend the loan and bailout Greece otherwise Greece will default!

Allow them to generate the tax revenue, and then they will be able to pay back their debts. The Greek agricultural, real estate, and the tourism sectors have all been hit hard by the EU sanctions on Russia. Their industrial sector is in shambles, due to the tax increases. Exclude Greece from the EU sanctions on Russia, and allow the construction of the Turkish Stream on Greek territory. Slowly, the Greeks will be able to repay their loans.

The Greek debt is not sustainable because the interest on it is super high and compounded..It has to be restructured, like the allies did for Germany after ww2 and wiped off a shit load of it that's how the German economy took off. Basically the Germans got rewarded for causing the the 2nd world war and the deaths of millions..I like Germans don't get me wrong, Greeks can learn from the discipline of German culture but Greeks should get the same respite as the Germans then that is fair play.. THE EU ruined the Greek economy, along with corrupt and overspending Greek politicians so those politicians that ruined the country should be put on trial as criminals and the Greek debt restructured first..

[Coinbanker]

Greece will rise after that exit. needs time to adjust in new environment,

[bryant.coleman]

The Grek debt is not sustainable because the interes ton it is super high and compounded..It has to be restructured, like the allies did for Germany after ww2 and wiped off a shit load of it that's how the German economy took off. Basically the Germans got rewarded for causing the the 2nd world war and the deaths of million..I like Germans don't get me wrong, Greeks can learn from the discipline of German culture but Greeks should get the same respite as the Germans then that is fair play.. THE EU ruined the Greek economy, along with corrupt and overspendign Greek politicians so those politicians that ruined the country should be put on trial as criminals and the Greek debt restructured first..

Exactly!

I have been screaming here for the last 2 weeks or so about the need to restructure the Greek debt, but no one is willing to listen to me. The only way the troika will get (at least a part of) their money back is by restructuring the Greek debt. If the Greek debt is restructured, the local economy will get a boost, thereby increasing the tax revenues. As a result, the Greeks will be able to payback at least a part of their debt.

[randy8777]

Greece will rise after that exit. needs time to adjust in new environment,

if this is indeed the case, then other weak euro countries will also decide to leave in order to get the same effect. that will have a huge negative impact on the remaining euro countries.

[traderbit]

The whole Eurozone crisis has shown how a monetary union without a political union is worthless.

[bryant.coleman]

if this is indeed the case, then other weak euro countries will also decide to leave in order to get the same effect. that will have a huge negative impact on the remaining euro countries.

I don't think so. The Greeks will lose a large number of benefits and subsidies, which were being sponsored by the European Union. And traveling to other European countries in search of job will get harder now, as there are chances that Greece will be thrown out of the Schengen Zone. The risk is just not worth it, for the other EU nations such as Portugal and Cyprus.

[Alley]

Sounds like the vibe is the public will vote yes on the referendum.  So no grexit just higher taxes and whatever else they impose.

[qiwoman2]

The Grek debt is not sustainable because the interes ton it is super high and compounded..It has to be restructured, like the allies did for Germany after ww2 and wiped off a shit load of it that's how the German economy took off. Basically the Germans got rewarded for causing the the 2nd world war and the deaths of million..I like Germans don't get me wrong, Greeks can learn from the discipline of German culture but Greeks should get the same respite as the Germans then that is fair play.. THE EU ruined the Greek economy, along with corrupt and overspendign Greek politicians so those politicians that ruined the country should be put on trial as criminals and the Greek debt restructured first..

Exactly!

I have been screaming here for the last 2 weeks or so about the need to restructure the Greek debt, but no one is willing to listen to me. The only way the troika will get (at least a part of) their money back is by restructuring the Greek debt. If the Greek debt is restructured, the local economy will get a boost, thereby increasing the tax revenues. As a result, the Greeks will be able to payback at least a part of their debt.

Nice to see someone else here talking economic sense.. If a nation cannot flourish it has nothing to give. Now they have introduced capital controls and the banks will be closed tomorrow till after the referendum and to me that's a wise move..Now also something very interesting has come up..The Greek Govt says the EU proposal they received from Dijsselbloem is different form the one Junker is waiving about today with the V.A.T for the Islands coming down to 13% instead of the originally proposed 23%..Now the EU is playing a very interesting game.. Oh I forgot to mention the IMF are desperate to get their hands on their money owed so they are trying hard to get everyone round the table for talks again..