Greece crisis: Europe on edge over snap election

[Lord Bracknell]

I know why, its a single currency without single fiscal accountability. The reason the Greeks got away with it before was they could (and did) devalue the Drachma which ultimately makes people of poorer.That is why the Greek people wanted the stability of the Euro. But that stability comes with responsibility that they haven't worn very well. They have been mislead by their leaders

... And the leaders they have had for years have been well and truly cast out, as this referendum result proves.

Now it is Europe's turn to respond positively.

 

[nicko31]

Can't believe they Greek's are partying in Athens, unbelieveable..

 

[Cheshire Cat]

I suspect that if I had had to try and live through the last five years of austerity (poverty) in Greece, I would have also voted "no", if only to tell the rest of the Eurozone that enough is finally enough, Greece cannot afford the repayments so it might as well go bust now rather than any time in the future. Regardless of the inevitable pain to come either way - they can all get stuffed.

OXI.

 

[Hampster Gull]

Indeed but that could equally be stated as :

"Don't lend what you're not prepared to lose"

or

"Don't lend to someone who is already financially bankrupt"

Agree first one. On second, the Greek state isnt bankrupt, they make their own choices

 

[Hampster Gull]

... And the leaders they have had for years have been well and truly cast out, as this referendum result proves.

Now it is Europe's turn to respond positively.

Hopefully. But of course they dont have to

 

[Kuipers Supporters Club]

Can't believe they Greek's are partying in Athens, unbelieveable..

They are celebrating running out of money, they better all party whilst they can. This isn't going to end well.

 

[Herr Tubthumper]

They are celebrating running out of money, they better all party whilst they can. This isn't going to end well.

True. It's really difficult to take the government and some of the population seriously at the moment.

 

[yxee]

Voters voting "no" means Greece are in a better negotiating position, claims Tsipras.

That's like me going to a bank, trying to get a loan, and the saying "but I really don't care about paying you back", and then expecting to get a lower interest rate.

 

[PILTDOWN MAN]

Voters voting "no" means Greece are in a better negotiating position, claims Tsipras.

That's like me going to a bank, trying to get a loan, and the saying "but I really don't care about paying you back", and then expecting to get a lower interest rate.

Or if you owe the bank £1000 but can't pay you've got a problem if you owe the bank £1 million and can't pay they've got the problem

 

[yxee]

Or if you owe the bank £1000 but can't pay you've got a problem if you owe the bank £1 million and can't pay they've got the problem

If I owe the bank £1m and tell them "I'm not paying" I will surely expect them to repossess my house. Tsipras is claiming it will give them a stronger position. The entire thing is a farce.

 

[PILTDOWN MAN]

If I owe the bank £1m and tell them "I'm not paying" I will surely expect them to repossess my house. Tsipras is claiming it will give them a stronger position. The entire thing is a farce.

However if you were sold a dodgy loan with ppi and self certified on their advice so long as you joined their club you might you feel hard done by. Oh and the main banker actually owed you money they refused to accept. You might have a different view.

 

[Chicken Runner61]

Europe will just print a load more Euros to cover what they lost in Greece - thats the joy of paper money - mind you its an awful lot of money..........

 

[yxee]

However if you were sold a dodgy loan with ppi and self certified on their advice so long as you joined their club you might you feel hard done by. Oh and the main banker actually owed you money they refused to accept. You might have a different view.

I'm not saying anything about whether the loan is justifiable or not. I'm saying the entire idea of calling a referendum to get out of a loan without facing the consequences of default is absurd.

It seems like you think any lender willing to give a country a change deserves whatever default they get, but it is a matter of opinion.

What is not an opinion is that the Greeks voted to reject an offer that is no longer on the table and thus makes no sense. And Tsipras is still spouting nonsense on national television.

When are people going to wake up to the seriousness of the situation?

 

[Hampster Gull]

I'm not saying anything about whether the loan is justifiable or not. I'm saying the entire idea of calling a referendum to get out of a loan without facing the consequences of default is absurd.

It seems like you think any lender willing to give a country a change deserves whatever default they get, but it is a matter of opinion.

What is not an opinion is that the Greeks voted to reject an offer that is no longer on the table and thus makes no sense. And Tsipras is still spouting nonsense on national television.

When are people going to wake up to the seriousness of the situation?

Collectively they have made the judgement that a no vote will get them greater concessions from their creditors and that a deal will be done. A Grexit will come wtih pain for creditors and they will need to weigh this up. The Greek peoples judgement is not absurd but is very risky

 

[PILTDOWN MAN]

I'm not saying anything about whether the loan is justifiable or not. I'm saying the entire idea of calling a referendum to get out of a loan without facing the consequences of default is absurd.

It seems like you think any lender willing to give a country a change deserves whatever default they get, but it is a matter of opinion.

What is not an opinion is that the Greeks voted to reject an offer that is no longer on the table and thus makes no sense. And Tsipras is still spouting nonsense on national television.

When are people going to wake up to the seriousness of the situation?

Sure it serious, but a chain is only as strong as its weakest link. Wanting a "united" Europe run by the German power house and their lap chein, created by sticky tape and plasters, full of corruption and unaudited accounts will finally lead to failure. Interesting how such a small economy could see an end to the great idea.


Given the "global crisis" over the last decade and its impact on the euro-zone I do wonder how much it would have damaged Greece if they were still out of the Euro. Being most of their economy is based on tourism and shipping how much would they have been affected?

 

[yxee]

I think they'd be doing just fine, albeit with less bloated pensions. Through sheer luck of geography tourism will always be a big draw for them.

 

[GT49er]

So, is that a 'Grexit' coming on now? First crack ........................

 

[TomandJerry]

"Police say about 100-150 anarchist protesters have started throwing firebombs at riot police and setting trash cans on fire in the central Athens neighborhood of Exarcheia"

 

[Pavilionaire]

I can't say I'm surprised that a country that has been bankrupted 5 times before voted not to pay back the money they've borrowed.

I saw their Finance Minister tonight giving an interview - in a T-shirt. They couldn't give a flying fig.

 

[Thunder Bolt]

The Greek finance minister has resigned.