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Chewing Grass

Chewys big fat Greek thread MK2

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All things Greek have been a bit quiet since we left TOS.

Anyhow seems the Greeks are even more bust than they were back then when in 2010, Greece lost market access cos no fucker would give them money anymore. Anyway since those heady days there have been three bailouts. Euro zone governments are now on the hook for €230b of bad debt so far.

The IMF were involved in the first two bailouts but not the third, saying they wanted assurances about how the euro zone will make Greek debt sustainable.

Greek debt now stands at a pretty unsustainable send the Bailifs in179 percent of GDP.

Seems the only place reporting this fact is EuroNews, god bless the Euro and all who believe in it.

http://www.euronews.com/2018/06/03/details-revealed-of-latest-greek-bailout

p.s. Wheres my Bailout money, my vote is buyable you Euro-Fuckers.........

 

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2 hours ago, Chewing Grass said:

All things Greek have been a bit quiet since we left TOS.

Anyhow seems the Greeks are even more bust than they were back then when in 2010, Greece lost market access cos no fucker would give them money anymore. Anyway since those heady days there have been three bailouts. Euro zone governments are now on the hook for €230b of bad debt so far.

The IMF were involved in the first two bailouts but not the third, saying they wanted assurances about how the euro zone will make Greek debt sustainable.

Greek debt now stands at a pretty unsustainable send the Bailifs in179 percent of GDP.

Seems the only place reporting this fact is EuroNews, god bless the Euro and all who believe in it.

http://www.euronews.com/2018/06/03/details-revealed-of-latest-greek-bailout

p.s. Wheres my Bailout money, my vote is buyable you Euro-Fuckers.........

 

Greece has been bust for years. Unpayable debt and even the IMF won't touch them now, they said write-offs were necessary in order to make the debt repayable, Euro banks said no. 20%+ unemployment with nearly 50% youth unemployment, all their brightest and best gone abroad. But according to the Eurocrats, it's all good.

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3 hours ago, Chewing Grass said:

All things Greek have been a bit quiet since we left TOS.

Anyhow seems the Greeks are even more bust than they were back then when in 2010, Greece lost market access cos no fucker would give them money anymore. Anyway since those heady days there have been three bailouts. Euro zone governments are now on the hook for €230b of bad debt so far.

The IMF were involved in the first two bailouts but not the third, saying they wanted assurances about how the euro zone will make Greek debt sustainable.

Greek debt now stands at a pretty unsustainable send the Bailifs in179 percent of GDP.

Seems the only place reporting this fact is EuroNews, god bless the Euro and all who believe in it.

http://www.euronews.com/2018/06/03/details-revealed-of-latest-greek-bailout

p.s. Wheres my Bailout money, my vote is buyable you Euro-Fuckers.........

 

As stakeholders in the ECB, the UK is also on the hook, even though the Euro is not our currency.

I love Greece and the Greeks, but they have, sadly, mostly brought the problem on themselves. By allowing their corrupt politicians to.

 

 

 

 

 

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16 minutes ago, Happy Renting said:

As stakeholders in the ECB, the UK is also on the hook, even though the Euro is not our currency.

I love Greece and the Greeks, but they have, sadly, mostly brought the problem on themselves. By allowing their corrupt politicians to.

Using that way to judge the Greeks could easily be turned on the British. Have they not also permitted their corrupt political class to create a ticking time bomb? On more levels, as well, Uk society is under threat as well as having bankruptcy looming. Unlike in Greece the bomb hasn’t gone off yet, but it will. 

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2 minutes ago, swiss_democracy_for_all said:

Using that way to judge the Greeks could easily be turned on the British. Have they not also permitted their corrupt political class to create a ticking time bomb? On more levels, as well, Uk society is under threat as well as having bankruptcy looming. Unlike in Greece the bomb hasn’t gone off yet, but it will. 

Ah, but at least we are fighting the political elite through Brexit.

After Brexit, at least our corrupt overlords will be home-grown.

As for bankruptcy, we have at least the option of control of our own currency.

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1 hour ago, Happy Renting said:

As stakeholders in the ECB, the UK is also on the hook, even though the Euro is not our currency.

 

 

 

 

 

My understanding is that we own shares but are not separately guarantors for the debt. Having said that we seem to have ponied up 55B Euros in capital which we’ll lose if it goes down before we leave the EU (which is to say ever).

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1 hour ago, Happy Renting said:

As stakeholders in the ECB, the UK is also on the hook, even though the Euro is not our currency.

I love Greece and the Greeks, but they have, sadly, mostly brought the problem on themselves. By allowing their corrupt politicians to.

I feel sorry for the Greeks.  They used to have a simpler but decent existence.  Then the EU comes along, throws them a huge pile of money that they didn't need and which they then largely spent on stuff from outside Greece (much made in Germany).  Then, when the money stopped coming the EU said that they had to destroy their normal economy to keep sending the EU (Germany) money. IMO they should have been allowed to 'go bankrupt' (default on debt).  

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9 hours ago, TheBlueCat said:

My understanding is that we own shares but are not separately guarantors for the debt. Having said that we seem to have ponied up 55B Euros in capital which we’ll lose if it goes down before we leave the EU (which is to say ever).

This. After Osborne lied to us about our ECB obligations.

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9 hours ago, dgul said:

I feel sorry for the Greeks.  They used to have a simpler but decent existence.  Then the EU comes along, throws them a huge pile of money that they didn't need and which they then largely spent on stuff from outside Greece (much made in Germany).  Then, when the money stopped coming the EU said that they had to destroy their normal economy to keep sending the EU (Germany) money. IMO they should have been allowed to 'go bankrupt' (default on debt).  

It was the Greek situation that really started me on the road to being anti-EU. Before that I was sceptical of the EU but thought it was probably the lesser of two evils. The response to the migrant crisis in '15 however was what finally convinced me we had to get out of it. 

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