Syriza to get majority in Greece.

[Bigthumb 10]

I expect the cash machines will be working overtime until the cash runs out. Probably by Monday breakfast.

[Jolly Wave 10]

Are there any Greeks in da house and what are your feeling towards this never ending debt crises?

 

I would love to be a fly on the wall in cabinets right now, do we cut them loose or carry a dead dog

[tzijlstra 11]

I expect the cash machines will be working overtime until the cash runs out. Probably by Monday breakfast.

 

Well, you were not alone in thinking this... they closed all banks for Monday.

 

---------- Post added 28-06-2015 at 21:04 ----------

 

Are there any Greeks in da house and what are your feeling towards this never ending debt crises?

 

I would love to be a fly on the wall in cabinets right now, do we cut them loose or carry a dead dog

I know several Greek people, I hasten to add that they are all academic types, but none of them are happy with how this whole thing has been handled. There are certain changes that seemingly can not be made, despite being blindingly obvious, because no political party will touch them.

[Jolly Wave 10]

I expect the cash machines will be working overtime until the cash runs out. Probably by Monday breakfast.

 

So if all the machines go empty, will the banks be forced to stay shut or turn the machines off

 

If that is the case then there will be riots in the streets, it will be a messy Greek salad that's for sure

 

---------- Post added 28-06-2015 at 21:10 ----------

 

Maybe Greece will be forced to open food banks to replace the money banks

[I1L2T3 10]

So despite it being too late Tsipras has decided to call a referendum on the proposed EU cuts.

 

Very smart, now let the EU Eurozone call a referendum on whether Greece should get any more money. The man is leading his people to the edge and what is worse, he knows it too.

 

Or is this democracy asserting itself against a bullying Eurozone core that is dictating punative terms contrary to what the majority of Greeks want?

 

Maybe it's something to celebrate for those of us who support the concept of the EU as primarily a trading bloc?

 

And maybe a good thing for the Euro too. Greece won't be the last country that needs to exit and maybe the lobster pot concept of the Euro is totally flawed?

 

Interesting week ahead.

[Anna B 1,401]

They've been printing and stockpiling Drachmas for months to take over if / when they pull out of the EU. If they can get over the first few days, all could still be well.

[L00b 441]

Or is this democracy asserting itself against a bullying Eurozone core that is dictating punative terms contrary to what the majority of Greeks want?

I'm sure the majority of Greeks ask for nothing more than some more dosh from the magic money tree forest. I wouldn't mind some myself, and quite confident I'm not alone.

 

But are you sure invoking 'democractic principles' is right in the Greek context, given their unrepentent profiglacy at the expense of the rest of European democracies? Do you think people should be allowed to default on their loans, mortgages and card bills (or force lenders to haircut, change rates, term, etc.) by ticking a ballot paper? Because, ideologically, same difference.

 

As for the 'bullying' Eurozone...Is that the Eurozone that lent them billions (only after the Greeks asked) when noone else would, at record low rates over record long terms? The Eurozone which the Greeks asked to incorporate, and for which purpose they cooked their books enough to make Madoff blush? That 'bullying' Eurozone?

 

 

Maybe it's something to celebrate for those of us who support the concept of the EU as primarily a trading bloc?

 

And maybe a good thing for the Euro too. Greece won't be the last country that needs to exit and maybe the lobster pot concept of the Euro is totally flawed?

We're sure to find out over the coming months, regardless of how Greece actually ends up.

 

Interesting week ahead.

Sounds like that old Chinese curse, "may you live in interesting times".

 

Capital controls are in (record queues forming at ATMs as I type this -middle of night in Athens- and 60% of Greek ATMs already empty acc. to Reuters), shop shelves are about empty, and there's a heatwave hitting Europe and the Med this week. I'll be very surprised if the riots don't start this week.

Edited June 28, 2015 by L00b

[Jolly Wave 10]

Let's hope the UK follows Greece out the backdoor

 

To quote Nigel Farage, this EU experiment has failed

[I1L2T3 10]

I'm sure the majority of Greeks ask for nothing more than some more dosh from the magic money tree forest. I wouldn't mind some myself, and quite confident I'm not alone.

 

But are you sure invoking 'democractic principles' is right in the Greek context, given their unrepentent profiglacy at the expense of the rest of European democracies? Do you think people should be allowed to default on their loans, mortgages and card bills (or force lenders to haircut, change rates, term, etc.) by ticking a ballot paper? Because, ideologically, same difference.

 

As for the 'bullying' Eurozone...Is that the Eurozone that lent them billions (only after the Greeks asked) when noone else would, at record low rates over record long terms? The Eurozone which the Greeks asked to incorporate, and for which purpose they cooked their books enough to make Madoff blush? That 'bullying' Eurozone?

 

 

We're sure to find out over the coming months, regardless of how Greece actually ends up.

 

Sounds like that old Chinese curse, "may you live in interesting times".

 

Capital controls are in (record queues forming at ATMs as I type this -middle of night in Athens- and 60% of Greek ATMs already empty acc. to Reuters), shop shelves are about empty, and there's a heatwave hitting Europe and the Med this week. I'll be very surprised if the riots don't start this week.

 

I feel sorry for them but something has got to give. The Euro has broken their economy and the Euro is never going to fix it. It's as simple as that.

 

---------- Post added 29-06-2015 at 00:14 ----------

 

Let's hope the UK follows Greece out the backdoor

 

To quote Nigel Farage, this EU experiment has failed

 

The Euro experiment is failing.

 

As a trading bloc the EU is fine but that is all we need from it. It's all Greece really needs from it now as well.

[L00b 441]

I feel sorry for them but something has got to give. The Euro has broken their economy and the Euro is never going to fix it. It's as simple as that.

It's simpler still, and nothing to do with the Euro: they never had an economy in enough of a functioning state to break.

 

Example: shipping has long, long been, and still is, their biggest and most profitable industry. Guess which industry is tax-exempt?

 

The Greeks have noone else but themselves to blame. Every other PIIG that has been bailed has reverted the trend and is climbing back. Greece itself had (finally) started to do so under the previous Gvt. Then they thought they'd vote hard left for a payment-and-hardship holiday (-paid).

The Euro experiment is failing.

The exact contrary: it's shedding dead weight to improve integrity and resiliency in international money markets. Don't forget the Germans and France are running this show insofar as the EU is concerned.

 

The € is going to blip for a week or so, then rebound higher than it currently stands. Same again a while later if and when Greece should actually grexit.

Edited June 28, 2015 by L00b

[tzijlstra 11]

Or is this democracy asserting itself against a bullying Eurozone core that is dictating punative terms contrary to what the majority of Greeks want?

 

No, that would be Syriza calling a referendum last month when it was abundantly clear that what they wanted was not going to happen and they still had time, calling a referendum after the bath-water has run out is not going to let the bath-water flood back in. (Sorry for the Dutchism).

 

These 'punative terms' are that the Greeks begin to manage their accounts properly. If Greece had been a renter in debt and the EU the landlord, Greece would be out on its ear a long time ago.

[E-Man Groovin 27]

I'm really torn here. I like Europe. I consider myself a European. I feel I have much more in common with people living in France or Greece or Italy, Holland or Germany that with those crazy Americans (or even Chinese for that matter!). I've always supported the UK's membership of the EU.

 

I'm also pretty centrist in my politics. I think social democratic would best describe me.

 

But in this dispute I'm on the side of the Greek government. They appear to be wanting to protect the ordinary working citizen against massive institutional interests. The European bodies appear to be siding with the institutions and not the people.

 

In practical terms we know the state's real function is to look after the wealth creators, but the post-Bismarkian agreement was that the working citizen needs to be considered also. Across Europe the terms of this agreement is being eroded. The pendulum has swung/is swinging too far towards the wealthy.

 

The EU seem to support this idea that the people of Greece should be crippled so that the banks' (the banks'!) requirements can be satisfied. Something about this is deeply troubling to me.