Greek Government bottles it!

[topbanana36]

Looks like the Greek government has bowed to Merkel, Juncker and the other F***wits who dictate to everyone how we should live.

 

[seagullsovergrimsby]

Looks like the Greek government has bowed to Merkel, Juncker and the other F***wits who dictate to everyone how we should live.

All part of the niceties of being in the EU. Welcome to the United States Of Europe.

 

[Barham's tash]

Always was going to be thus in my opinion. Sad that also all it merely does is kick the can down the road They should never have been allowed into the EUR in the first place and fudged all of their statistics to ensure they would be admitted.

 

[Juan Albion]

All part of the niceties of being in the EU. Welcome to the United States Of Europe.

AKA the Fourth Reich.

 

[fataddick]

Looks like the Greek government has bowed to Merkel, Juncker and the other F***wits who dictate to everyone how we should live.

Sadly it appears you are right. In their defence the wind got taken out of their sails months ago when Spain, Portugal etc refused to join them in a broader resistence to the Oppressor Class and the continued papering over the failure of capitalism on every level. These days all European governments are Vichy governments it would seem

 

[TomandJerry]

The draft proposal, which comes from this morning’s eurozone finance ministers, forces Greece to take these seven steps straight away:

Streamlining VAT
Broadening the tax base
Sustainability of pension system
Adopt a code of civil procedure
Safeguarding of legal independence for Greece ELSTAT — the statistic office
Full implementation of automatic spending cuts
Meet bank recovery and resolution directive

And also get the ball moving on another five points:

Privatize electricity transmission grid
Take decisive action on non-performing loans
Ensure independence of privatization body TAIPED
De-Politicize the Greek administration
Return of officials from its creditors to Athens

 

[Lord Bracknell]

Looks like the Greek government has bowed to Merkel, Juncker and the other F***wits who dictate to everyone how we should live.

Alternatively ... it looks like Merkel, Juncker and the other F***wits have caved in and decided to let Greece stay in the Euro, thereby vindicating the NO vote in the referendum.

Well done, Greece!

 

[Guerrero]

Don't borrow what you can't afford to pay back.

Don't lend to people who are unlikely to be able to pay it back.

Rocket science it aint.

 

[topbanana36]

Alternatively ... it looks like Merkel, Juncker and the other F***wits have caved in and decided to let Greece stay in the Euro, thereby vindicating the NO vote in the referendum.

Well done, Greece!

Do you honestly believe Merkel caved in? Have you read any of the lisbon treaty of 2007 or ESM treaty, the EU is a complete stitch up. If, I mean a big if, we decided to vote out of the EU do think Merkel and Juncker would let us go, would they ****. My guess is they will use the lisbon treaty against us, the one another F**kwit signed, sealed and delivered to them.

 

[beorhthelm]

Alternatively ... it looks like Merkel, Juncker and the other F***wits have caved in and decided to let Greece stay in the Euro, thereby vindicating the NO vote in the referendum.

Well done, Greece!

the NO vote was on a question "do you agree to the creditors terms". while many in EU drummed up the Grexit fear, it was not a vote on in/out for the Greek people. they wanted to stay in on their terms. they've agreed to the terms more or less as given before the referendum. they wasted a couple of weeks and created ill feeling and mistrust towards them from many across europe. well done?

 

[crasher]

There is still so much debt sloshing around from the 2008 bank-caused crisis that other countries know if Greece left the Euro, the contagion would likely pull down their economies in this order: Portugal, Spain, Italy, France.

Therefore Greece cannot be allowed to leave the Euro. Add to this America's fear that Russia (a different kind of *******) would increase its sphere of influence over a post-euro greece and you have all the arrayed power of the neo-liberal West against the people of Greece.

Capitalism has failed utterly but we're not allowed to admit that.

 

[Guerrero]

Can't blame Greece for trying to get the best deal.

Spain,Portugal,Ireland and Italy have worked really hard to get their debts down.
They will also be protected if Greece defaults and gets kicked out (not a chance).

Europe will work regardless of stupid noises being made Britain.

 

[larus]

There is still so much debt sloshing around from the 2008 bank-caused crisis that other countries know if Greece left the Euro, the contagion would likely pull down their economies in this order: Portugal, Spain, Italy, France.

Therefore Greece cannot be allowed to leave the Euro. Add to this America's fear that Russia (a different kind of *******) would increase its sphere of influence over a post-euro greece and you have all the arrayed power of the neo-liberal West against the people of Greece.

Capitalism has failed utterly but we're not allowed to admit that.

The problem is, we don't have capitalism, The banks should have failed and gone bust. Depositors should have lost their money and we should have had a major recession. Then, the system would have been 're-set' slightly, and Joe Public would have taken a greater interest in where they put their money. We would have had house prices re-balance themselves and interest rates at sensible levels. The West is running in zombie mode as it relies upon consumer/government debt to generate 'growth'. We need growth to pay the interest the the bankers who create 'money' out of thin air.

This isn't capitalism, which is a shame.

 

[Mellor 3 Ward 4]

Alternatively ... it looks like Merkel, Juncker and the other F***wits have caved in and decided to let Greece stay in the Euro, thereby vindicating the NO vote in the referendum.

Well done, Greece!

You normally write sense, but that is nonsense.

 

[larus]

Can't blame Greece for trying to get the best deal.

Spain,Portugal,Ireland and Italy have worked really hard to get their debts down.
They will also be protected if Greece defaults and gets kicked out (not a chance).

Europe will work regardless of stupid noises being made Britain.

How many currency unions have ever worked and survived. It's a nice round number. Yep; 0.

Until there is politcail/fiscal union, tha's all you have; a glorified currency union. It will never work; Greece may not kicked out, but if it doesn't, just wait for the markets to question the viability of Italy in the future. It's economy is static, or maybe even slightly shrunk,so it's debt/GDP ration is rising. It's accepted as being unsustainable, but it's a future problem when compared to Greece.

Germany will never agree to fiscal transfers, so the EURO is on borrowed time.

 

[crasher]

The problem is, we don't have capitalism, The banks should have failed and gone bust. Depositors should have lost their money and we should have had a major recession. Then, the system would have been 're-set' slightly, and Joe Public would have taken a greater interest in where they put their money. We would have had house prices re-balance themselves and interest rates at sensible levels. The West is running in zombie mode as it relies upon consumer/government debt to generate 'growth'. We need growth to pay the interest the the bankers who create 'money' out of thin air.

This isn't capitalism, which is a shame.

That is a very fair argument. Whether you like or loathe capitalism, we're sloshing around somewhere in the middle, fudging the rules.

 

[larus]

I'm in favour, but it needs to be managed with firm but fair governence. The problem is that too many politicians have their snouts in the big business trough, so the profits are privatised and the losses are nationalised. I sound like a left-winger, but I'm not.

I just feel as though Joe Public is screwed over by the elite, and the political classes don't help. Look at Blair and the way he's lining his pockets like a good socialist.

 

[Chicken Runner61]

the NO vote was on a question "do you agree to the creditors terms". while many in EU drummed up the Grexit fear, it was not a vote on in/out for the Greek people. they wanted to stay in on their terms. they've agreed to the terms more or less as given before the referendum. they wasted a couple of weeks and created ill feeling and mistrust towards them from many across europe. well done?

Whilst what you say is true - what did you expect them to do ?

They wouldn't have been able to meet the next payment - even now closing the banks meant they need even more money to open them again now.

Only sensible way out for everyone is for Europe to kick Greece out but loan them enough money to stay afloat whilst they adjust to their own currency again. Europe will also have to take a massive haircut and allow Greece about 100 years to repay what's left.

Europe saves some face - Greece is punished for racking up the debts and everyone can move on - the alternative is Greece will eventually collapse and not pay anything and Europe will break apart.

Before you get excited - if your mate Gideon was so worried globally about what would happen if there was a greekexit what will happen if Britain leaves then??

The way Britain has membership of the ec is about right - we have benefits of entry but retain our own currency

 

[Guerrero]

No chance of Greece leaving the EU or Eurozone.
No chance of Britain leaving the EU.
No chance of the Euro failing.
You heard it here first.

 

[Hampster Gull]

They walked their country to the edge, asked for backing through a vote and then caved in. Bizarre