Greek drama

[amalan11]

Is anyone affected by the drama in Greece ? It seems like they will default , I work in a currency exchange and people are frantically  getting euro. Apparently the banks over there are all closed for a week and people can only take out €60 from autotellers .

I feel sorry for Greek people I heard today that if they default they will likly go back to the Drachma and they would loose 90%  on their euros exchanging them ..... it sounds a nightmare  pensions ect will not be paid as the gov will have no money and it will send the country into a deep recession. 

Our stockmarket is being decimated already 

[icyfroth]

Here's what I read while I was overseas:

the banks should close and reorganise everything back into their drachma.

open again and accept euro currency to the value of drachmas until euros are out of circulation.

The drachma will devalue, making imports too expensive for the greeks who will turn to locally made goods and produce. this will kick-start production and create emplloyment. Their exports will be cheap and encourage the market.

The drachma over time and the money that's been taken out of the banks and hoarded elsewhere will begin to come back into circulation and hey presto!

The greeks will have a sovereign economy back.

Spain, Portugal and Italy will probably follow suit.

[youcandoityoucandoityoucandoit]

There needs to be lessons learned.

Greece needs to leave the EU, stop using Euros and getting subsidies from the other countries in the EU and be forced to go into recession.They need to reestablish their separate currency and grow from the inside..without outside help.

Otherwise this will happen again and again and it could happen to other smaller countries in the EU- eg Portugal or Italy..but it seems Greece is being dealt with toughlove so as it stands as a warning to other countries that they need to pull their weight to continue within the EU...

(but I think they are expecting other EU countries- read Germany, to bail them out- theres not much point in this, as they will most probably default any loan- they wont grow their economy quickly enough)

[baybizz]

See my comments on this thread:

www.community.ebay.com/Soapbox/Greece/23649772

(you need to be signed in to read the thread in the correct time order)

The Great EU Deception:

www.irishdemocrat.co.uk/the-great-eu-deception/

[youcandoityoucandoityoucandoit]

an update..

http://www.wsj.com/articles/some-greek-banks-to-open-for-pensioners-1435653433

[icyfroth]

Update:

Greece Says No

[donnashuggy]

My son is in Athens at the moment, he sent me this yesterday, the ATM's lines are like this day and night.

[baybizz]

Either the EU paymasters, Germany (and its taxpayers), will say "enough", and cut off further loans to Greece (and Greece will be forced to reclaim its own currency back), or the EU leaders' fear of the Euro obsession being unmasked for the sham it is will ensure that the cash continues to flow to Greece. Greece's leadership is betting that the cash will continue to flow.  We shall see...

 

  The EU faces Greek democracy in theGreat Euro Poker Game...

https://www.youtube.com/watch?v=qDrhBxKRfdo

*

The truth about the disastrous euro currency...

"Poor Greece, trapped inside the economic prison of the

euro currency union...

"You are very dangerous people indeed. Your obsession with creating this euro State means that you are happy to destroy democracy. You appear to be happy for millions and millions of people to be unemployed and to be poor. Untold millions of people must suffer so that your euro dream can continue...

- Nigel Farage, UK Independence (from Europe) Party (UKIP)...

https://www.youtube.com/watch?v=w8T6vQmhlNg

~

[icyfroth]

great video thanks Bay!

[amalan11]

It was interesting  they chose no ... im very curious as to whether  it will work for them and Europe will give them more money or will they be left with no money. Realy if you refuse to pay a loan back the lender is crazy to give you more so interesting  times

[icyfroth]

Nah they've had enough time to formulate a Plan B. So has the rest of the share market.

I reckon Greece will crank up the old drachma printing machine.

Either that or ally itself with Russia and the BRICS nations. Get money off them.