Greece’s Debt Crisis

[norton9478]

Bear in mind you're talking about the most violent continent in history that has somehow held itself together for an unprecedented amount of time due in large part to the European Union.
.

Bear and Mind that Germany was split into two countries during most of that time.

 

[StevenK]

Better for Greece. 7-10 years.

Look at Argentina.

Greece is not a single person and 7-10 years is not long run.

10% extra in a few government workers pension pots is not worth threatening the regions longest period of peace in nearly 2000 years.

If you open the door to countries leaving the EU when they please you risk bringing down the whole house of cards.

 

[galfordo]

What's the solution???

More debt, of course!!

 

[ki_atsushi]

Fuckin' Greeks... they're ruining everything.

Keep them in the EU, but punish their ass for their retardedly bad money management. And lazy assholes.

 

[Dr Shroom]

Do they have to leave the EU entirely or just the single currency?

Why not both? And they are lazy assholes.

 

[Poonman]

Lazy AND the primary form of governance is a kleptocracy; not just in greece but throughout southern europe.

If you had a deadbeat son who was starving because he kept spending your money on heroin, the stupidest fucking thing you could do is keep sending him more money....and yet that is precisely what these EU "leaders" keep doing with other peoples fucking money.

The solution?

1. Fuck the EU
2. Start going after the politicians who are pocketing the investment money and fleeing....and treat them no differently than you would a war criminal....shit, fucking kill them if you have to.

Examples have to be made, and the time to clean house is long overdue.

 

[galfordo]

If you had a deadbeat son who was starving because he kept spending your money on heroin, the stupidest fucking thing you could do is keep sending him more money....and yet that is precisely what these EU "leaders" keep doing with other peoples fucking money.

I have this sneaking suspicion that they're not doing it out of the kindness of their hearts. They have to know this place is toast. I'm guessing a few big time investors have probably been gettin' some pretty sweet returns on their good old 10-year Greek bonds, only they made a slight miscalculation. Now it's "bail these mother fuckers out now or fund your own goddamn campaign, asshole" time. Should be interesting to see how it plays out though. Just a theory though.

 

[wyo]

Greece is not a single person and 7-10 years is not long run.

10% extra in a few government workers pension pots is not worth threatening the regions longest period of peace in nearly 2000 years.

If you open the door to countries leaving the EU when they please you risk bringing down the whole house of cards.

But surely if you keep capitulating to Greek demands, you're just encouraging similar actions by other countries down the road.

I'm very interested to see how the British referendum on EU membership goes. We'll probably narrowly vote to stay in out of fear, then regret it like the Scots did with their independence vote. Honestly I am nervous about returning because it sounds like the country is very different from the one I left in 2000.

 

[norton9478]

But surely if you keep capitulating to Greek demands, you're just encouraging similar actions by other countries down the road.
.

I don't know how it is encouraging other countries to do the same.

Either way, Greece eats a shit sandwich.

 

[abasuto]

What's the solution???

More debt, of course!!

It worked for Detroit, it can work for Greece.

 

[DaytimeDreamer]

We're not lazy guys, it's mainly this:

1) Government and public sector is corrupt as fuck.
2) Justice system is also corrupt.

Since 1980 every government has been slowly building up to this situation. Putting money in their pockets instead of spending it on infrastructure etc.

Simiti's government cooked up all the info in order for us to enter the euro. We should not be there in the first place.

Also in dealing with the crisis, no government did the reforms they should have done in the first place. They protected the public sector were they should have cut a large percentage of unjustified working public servants, cut early pensions and much more. Instead they protected their voters and the class they belong to by forcing a fuckaton of taxes on the rest.

Right now in Greece you have the majority of people literally starving and some which are filthy rich because of this. Middle class took the hardest hit because of this situation.

What needs to be done right now is make up a new deal which is viable for Greece and stay in the euro. The real problem are all the corrupt people in the government.

My guess is it will turn into a bloodbath.

 

[LWK]

How can Greece as a country actually leave the EU and have a future of any kind of respect after what happened? How would they even begin to back the currency to get any real credibility? Drachma's? This country is fucked currently. You got the Golden Dawn Neo Nazi movement. These systems of government and the EU are a nightmare. The EU is like the mob, you're either with them or your currency gets choked out.

This whole system of debt as money is gonna shit the bed to the greatest world depression known to man. I mean, if Greece is this vulnerable, who else is truly safe?

LOL at Detroit, that place has like 500$ mansions with a lein cost that could travel back to 200 bc on a dollar to day basis.

 

[Atro]

Lazy AND the primary form of governance is a kleptocracy; not just in greece but throughout southern europe.

While it's true that "southern" European countries are plagged by corrupt leaders that are leeching their countries to the fullest, you'd be dumb to believe that it's different anywhere else.
Besides some "northern" countries, it's the same, just to a lesser extent.
Have you seen the car fleet the European Union deputees have to their use? You don't have lesser than Audi A6's or Merc's E Class...
You can even see Jaguars and Maserati's in their Brussels garage. And who pays for that? I guess you already know

The root of all evil begins here :
( it's from a portuguese channel, but it's in english, except for the subtitles )

 

[ki_atsushi]

We're not lazy guys, it's mainly this:

1) Government and public sector is corrupt as fuck.
2) Justice system is also corrupt.

Since 1980 every government has been slowly building up to this situation. Putting money in their pockets instead of spending it on infrastructure etc.

Simiti's government cooked up all the info in order for us to enter the euro. We should not be there in the first place.

Also in dealing with the crisis, no government did the reforms they should have done in the first place. They protected the public sector were they should have cut a large percentage of unjustified working public servants, cut early pensions and much more. Instead they protected their voters and the class they belong to by forcing a fuckaton of taxes on the rest.

Right now in Greece you have the majority of people literally starving and some which are filthy rich because of this. Middle class took the hardest hit because of this situation.

What needs to be done right now is make up a new deal which is viable for Greece and stay in the euro. The real problem are all the corrupt people in the government.

My guess is it will turn into a bloodbath.

Isn't the average retirement age only 53? That's lazy.

http://www.huffingtonpost.com/diane-francis/greece-is-not-a-country-i_b_871296.html

 

[Dr Shroom]

lol 53
and they want us germans to work till 67

I swear the whole fucking EU rests on our shoulders.

 

[Mac91]

lol

Spoiler:

 

[Rot]

lol 53
and they want us germans to work till 67

I swear the whole fucking EU rests on our shoulders.

It's 66 in the UK.... WINNAR!

On topic... Greece have been known for DECADES for their early retirement age... rampant tax evasion... and unwillingness to declare earnings...

How the FUCK they got in the Euro is anyone's guess (I know they cooked the books...)....

Merkel must like Greek food because dumb bitch will have to buy the entire country if she wants it to stay in the Euro currency

xROTx

 

[norton9478]

Greece also offered to cut defence spending, the IMF rejected it.

 

[Atro]

There's a crowdfunding going on...
Who would believe? :o

 

[StevenK]

Greece also offered to cut defence spending, the IMF rejected it.

Cutting defence spending is the same as asking other countries to step up and pay for their defence instead. It's the same bullshit tactic Scotland tried to push onto England in the referendum, and also the same thing the UK is looking like asking of the US.

 

[Takumaji]

It all started when Greece faked the statistics about their economy in the mid-90s and probably before as well, they did it because EU members are supposed to keep their new debt in a given fiscal year below 3%, Greece was at 4 or 5%, and counting. They lived pretty well for a while when they got connected to the money pump that is the European Union, until about 2004 when their economy data went downwards again, and then the financial crisis of 2007 hit them very hard. Masses of people lost their jobs which led to a near-breakdown of their domestic market, which in turn became a probem for foreign investors from France and Germany who started to withdraw their money. It's no secret that these investors took advantage of the corrupt circles of industry leaders, investment bankers and politicians, they milked a pretty cent out of the country and still do.

A lot of their problems are based on corruption within the government and the cabinet that is manned by a bunch of inept populists. They have huge problems collecting taxes, a lot of Greeks haven't paid them for years, if not decades. Everyone is doing his thang and only cares for their personal wallet, this includes keeping dead people alive on paper in order to still get the pensions, which is a popular sport in Greece and until recently went on more or less undetected until the new financial crisis highlighted these any many other problems.

And of course it's Germany's fault that Greece is about to go belly-up, that goes without saying...

 

[FilthyRear]

Germany.

The cause of - and solution to - all of the world's problems.

 

[Takumaji]

Germany.

The cause of - and solution to - all of the world's problems.

Warte, warte nur ein Weilchen, dann kommt Merkel auch zu dir...

 

[K-2]

I don't see how Southern European countries that rely on tourism are well served by using deuschtmarks essentially.

Germany on the other hand has prospered greatly by having a currency kept affordable by its lower performing southern allies.

We'll see how well the EU works after more weaker eu members get choked out

 

[Hasuki-san]

maybe the greece should start a Kickstarter campaign, like Shenmukis Suflakis, but what would they offer for the money ?