So Greece is in default. But it doesn't matter, they're back talking tomorrow.
Anyone got £300,000,000,000 going spare? I'll definitely talk to you about paying it back sometime, I'm that nice kinda guy.
Even if some sort of "deal" is done, it looks like they're facing years of horrendous austerity or alternatively even worse austerity : it's the classic lose - lose scenario.
Even if some sort of "deal" is done, it looks like they're facing years of horrendous austerity or alternatively even worse austerity : it's the classic lose - lose scenario.
Sadly it's what happens if a country lets their finances get out of control. Greece has to collect taxes if it going to get anywhere. Creditors aren't going to do big write offs until this is sorted. They've also got to sell assets. Instead all they've done is cuts. If the full range of bail out programme had been implemented things wouldn't be so bad. In particular the attitude of creditors.
In Med last week on cruise. Folks all commenting on the number mega yachts carrying greek flag. How many of them are paying tax? A lot of them in Sicily home of Italian mafia!
Sadly it's what happens if a country lets their finances get out of control. Greece has to collect taxes if it going to get anywhere. Creditors aren't going to do big write offs until this is sorted. They've also got to sell assets. Instead all they've done is cuts. If the full range of bail out programme had been implemented things wouldn't be so bad. In particular the attitude of creditors.
In Med last week on cruise. Folks all commenting on the number mega yachts carrying greek flag. How many of them are paying tax? A lot of them in Sicily home of Italian mafia!
I still don't believe they could have paid off this latest loan deal. Tsipras thinks he can do a deal, with what, he wants to borrow a further 29bn euro. How will they pay off the next debt repayment of 3.5 bn euro in just 3 weeks.
So Greece is in default. But it doesn't matter, they're back talking tomorrow.
Anyone got £300,000,000,000 going spare? I'll definitely talk to you about paying it back sometime, I'm that nice kinda guy.
No. But if your one of the 36.4% of Greeks who voted for Syriza I have opened a new magical emporium especially for you. In it you can buy, for the highly competitive fee of just €60 per day, any of the following items.
Genetically enhanced beans which produce mighty socialistic beanstalks which reach to the heavens in hours
Real estate options on the Lost Continent of Atlantis
A once in a lifetime opportunity to buy a tower in the middle of Paris
An amazing patented cake which stays exactly the same size no matter how many bites you take
And most amazingly of all a foolproof method of obtaining limitless cash without ever having to stop spending any
So don't delay, call in today to the Syriza Fantasy Land Super Emporium. Your country is safe in our hands.
Signed Honest Alexis Tsiparis
Managing Director and Honourary Fellow of the Hans Christian Anderson School of Economics.
According to a report, last night, Merkel has said there'll be no further discussions until the referendum is over.
I wonder if anyone in Greece knows exactly what it is they're being asked to vote for (or against).
I guess they'll just see it as YES to stay in the Euro (and possibly the EU) or NO to drop out. If so, this will work against Tsipras, because it's one thing to walk right up to the brink, but asking them to vote NO is actually stepping into the unknown.
I wonder if anyone in Greece knows exactly what it is they're being asked to vote for (or against).
The text is a bit of mouthful but the it is a complex agreement but presumably there will be plenty of coverage of the proposals in terms of what they mean with those opposed and those in favour saying why. It is however at the end of the day an in/out of the € referendum.
"Should the proposed agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and consists of two parts, which constitute their unified proposal?
"The first document is entitled 'Reforms for the Completion of the Current Program and Beyond' and the second 'Preliminary Debt Sustainability Analysis'."
I wonder if anyone in Greece knows exactly what it is they're being asked to vote for (or against).
I guess they'll just see it as YES to stay in the Euro (and possibly the EU) or NO to drop out. If so, this will work against Tsipras, because it's one thing to walk right up to the brink, but asking them to vote NO is actually stepping into the unknown.
Poll currently showing 'no' vote ahead, apparently. A Telegraph headline.
The FT have got their hands on the new letter sent by Tsipras this morning.
They say he is conceding on almost all points to the eurogroup.
I tnought Syriza were meant to be radical.
Athens legal bar has ruled referendum unconstitutional. Basically the question being asked is not clear. At least some parts of Greece are functioning properly! Greek central bank worked with ECB to get capital controls in place. Again professionals working to sort out mess being created by politicians.
No. But if your one of the 36.4% of Greeks who voted for Syriza I have opened a new magical emporium especially for you. In it you can buy, for the highly competitive fee of just €60 per day, any of the following items.
Genetically enhanced beans which produce mighty socialistic beanstalks which reach to the heavens in hours
Real estate options on the Lost Continent of Atlantis
A once in a lifetime opportunity to buy a tower in the middle of Paris
An amazing patented cake which stays exactly the same size no matter how many bites you take
And most amazingly of all a foolproof method of obtaining limitless cash without ever having to stop spending any
So don't delay, call in today to the Syriza Fantasy Land Super Emporium. Your country is safe in our hands.
Signed Honest Alexis Tsiparis
Managing Director and Honourary Fellow of the Hans Christian Anderson School of Economics.
Well if you humiliate and ruin people long enough, they will start to fight back.
continuing the crazy levels of austerity imposed was simply unsustainable. For many Greeks, Syriza may have been a gamble, but it was a gamble that was at least worth trying.
The FT have got their hands on the new letter sent by Tsipras this morning.
They say he is conceding on almost all points to the eurogroup.
I tnought Syriza were meant to be radical.
The letter is requesting a new third bailout from a source of funds that wasn't in place for the previous bailouts. Someone in Syriza has been burning the midnight oil.
Well if you humiliate and ruin people long enough, they will start to fight back.
continuing the crazy levels of austerity imposed was simply unsustainable. For many Greeks, Syriza may have been a gamble, but it was a gamble that was at least worth trying.
So in a nutshell, the deal on the table on Saturday, Tsipras could not live with it.
The previous night he called a referendum.
Subsequently called for a no vote as the deal was a bad one.
Days later.
Banks shut down.
Capital controls.
Stock exchange shut.
IMF default.
This morning he is according to the FT now requesting the that weekend deal.
Will he campaign for a yes now. Will he even still go ahead with a referendum.
Comments
1.5 billion up in smoke
The finance minister might resign, the referendum might be cancelled or elections might be called.
If you're Spanish looking at this, Podemos suddenly does not look such an appetising option anymore.
Lol. Richard Quest is like the keith Floyd of current affairs TV.
Or if your irish the IRA political wing look even less appealing then they already did
Anyone got £300,000,000,000 going spare? I'll definitely talk to you about paying it back sometime, I'm that nice kinda guy.
Even if some sort of "deal" is done, it looks like they're facing years of horrendous austerity or alternatively even worse austerity : it's the classic lose - lose scenario.
Sadly it's what happens if a country lets their finances get out of control. Greece has to collect taxes if it going to get anywhere. Creditors aren't going to do big write offs until this is sorted. They've also got to sell assets. Instead all they've done is cuts. If the full range of bail out programme had been implemented things wouldn't be so bad. In particular the attitude of creditors.
In Med last week on cruise. Folks all commenting on the number mega yachts carrying greek flag. How many of them are paying tax? A lot of them in Sicily home of Italian mafia!
Not according to this. "But the ministers said they would discuss a last-minute suggestion from Greece for a new bailout programme."
http://www.bbc.co.uk/news/world-europe-33339363
I still don't believe they could have paid off this latest loan deal. Tsipras thinks he can do a deal, with what, he wants to borrow a further 29bn euro. How will they pay off the next debt repayment of 3.5 bn euro in just 3 weeks.
wasted so much time and energy and money on this .....
No. But if your one of the 36.4% of Greeks who voted for Syriza I have opened a new magical emporium especially for you. In it you can buy, for the highly competitive fee of just €60 per day, any of the following items.
Genetically enhanced beans which produce mighty socialistic beanstalks which reach to the heavens in hours
Real estate options on the Lost Continent of Atlantis
A once in a lifetime opportunity to buy a tower in the middle of Paris
An amazing patented cake which stays exactly the same size no matter how many bites you take
And most amazingly of all a foolproof method of obtaining limitless cash without ever having to stop spending any
So don't delay, call in today to the Syriza Fantasy Land Super Emporium. Your country is safe in our hands.
Signed Honest Alexis Tsiparis
Managing Director and Honourary Fellow of the Hans Christian Anderson School of Economics.
According to a report, last night, Merkel has said there'll be no further discussions until the referendum is over.
I wonder if anyone in Greece knows exactly what it is they're being asked to vote for (or against).
I guess they'll just see it as YES to stay in the Euro (and possibly the EU) or NO to drop out. If so, this will work against Tsipras, because it's one thing to walk right up to the brink, but asking them to vote NO is actually stepping into the unknown.
The text is a bit of mouthful but the it is a complex agreement but presumably there will be plenty of coverage of the proposals in terms of what they mean with those opposed and those in favour saying why. It is however at the end of the day an in/out of the € referendum.
"Should the proposed agreement be accepted, which was submitted by the European Commission, the European Central Bank, and the International Monetary Fund in the Eurogroup of 25.06.2015 and consists of two parts, which constitute their unified proposal?
"The first document is entitled 'Reforms for the Completion of the Current Program and Beyond' and the second 'Preliminary Debt Sustainability Analysis'."
Poll currently showing 'no' vote ahead, apparently. A Telegraph headline.
They say he is conceding on almost all points to the eurogroup.
I tnought Syriza were meant to be radical.
Athens legal bar has ruled referendum unconstitutional. Basically the question being asked is not clear. At least some parts of Greece are functioning properly! Greek central bank worked with ECB to get capital controls in place. Again professionals working to sort out mess being created by politicians.
Well if you humiliate and ruin people long enough, they will start to fight back.
continuing the crazy levels of austerity imposed was simply unsustainable. For many Greeks, Syriza may have been a gamble, but it was a gamble that was at least worth trying.
The letter is requesting a new third bailout from a source of funds that wasn't in place for the previous bailouts. Someone in Syriza has been burning the midnight oil.
http://blogs.ft.com/brusselsblog/2015/06/30/leaked-tsipras-letter-requesting-a-3rd-bailout/
Spot on.
The previous night he called a referendum.
Subsequently called for a no vote as the deal was a bad one.
Days later.
Banks shut down.
Capital controls.
Stock exchange shut.
IMF default.
This morning he is according to the FT now requesting the that weekend deal.
Will he campaign for a yes now. Will he even still go ahead with a referendum.