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The start of the end of the EU!

Discussion in 'News and Weather' started by DavyL200, Jun 28, 2015.

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  1. midway

    midway DI Member Veteran Navy

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    I think this is just the interest on they owe on the loans that came due. I just got back from vacation and have not been keeping up with this like I should.
     
    midway, Jul 4, 2015
    #21
  2. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    I have never had any credit/loans in my life but I think I remember someone telling me that only paying off the interest was a bad idea.
    I think common sense has been on vacation in Greece for quite some time.
     
    Rye83, Jul 4, 2015
    #22
  3. midway

    midway DI Member Veteran Navy

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    The problem with Greece at the moment though is that they have brought down financial markets all over the world. Anyone who was planning on retiring last week and locking in their retirement accounts where there were lost money, the DOW index dropped 2% in a response to the events in Greece although it did rebound slightly. If a person has no money invested this is no big deal. If a person has a significant portion of their life, or retirement savings in funds which are tied to the stock markets that can be a significant amount.

    I am one of the people that play fast and loose with retirement savings and have the majority of my money in small cap funds which bear the brunt of the losses. Thats what I get for feeling large risk large reward is worth it.
     
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    midway, Jul 5, 2015
    #23
  4. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Army

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    Today's the referendum, YES or NO Vote. They owe Over 325 Billion Euros. If they vote no, kiss goodbye to someone's investment. If they vote yes, Greece want's more bailouts. Never ending bailouts.
     
    jimeve, Jul 6, 2015
    #24
  5. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    I've tried to put myself in the shoes of the average Greek citizen, and I'm not sure which way I would vote on this.

    Makes me wonder if this is gonna become a domino effect - kinda like having a run in your panty hose - starts out small, but eventually runs down to the toe, ruining the hose. One can only use so much fingernail polish to temporarily stop the run.

    I've gotten a couple of emails where property investors are saying to wait to buy in Greece. According to these folks, regardless of a Yes or No, real estate market values in Greece may still have more room to fall. If I knew anything about REITS or the stock markets, a "bet" on this possible downslide might be a money maker for big fish.

    V/R,
    nwlivewire
     
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    nwlivewire, Jul 6, 2015
    #25
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    DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    Last edited: Jul 6, 2015
    DavyL200, Jul 6, 2015
    #26
  7. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Army

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    jimeve, Jul 7, 2015
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  8. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Army

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    So what happens now, another meeting with the Euro boss Angela Merkel. That vote didn't mean anything really, they still go and talk about rescuing Greece balls up.
     
    jimeve, Jul 7, 2015
    #28
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    DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    ‘Europe is dying,’ EU opponents say, as Greek ‘No’ brings delight
    By GUY FAULCONBRIDGE, Reuters July 6, 2015 8:00am

    383 67 0 478

    LONDON - If Greece's 'No' vote shocked euro zone leaders, it brought delight to opponents of the European Union who said it showed the entire European project, including the euro, was dying.

    Rejecting European creditors' demands, Greeks voted against the terms of a bailout on Sunday, delivering one of the biggest blows to Europe's drive to forge an enduring monetary union since the euro was launched in 1999.

    "The EU project is now dying," said Nigel Farage, leader of the UK Independence Party, an anti-EU party which won 12.6 percent of the vote—but just one seat—in Britain's May 7 general election.

    "It's fantastic to see the courage of the Greek people in the face of political and economic bullying from Brussels," Farage said as partial results showed 61 percent of Greeks rejecting the bailout offer.

    Farage hopes Britons will emulate the Greek 'No' vote in a referendum which Prime Minister David Cameron has committed to call by end 2017 on whether Britain should stay in the EU.


    More from: ‘Europe is dying,’ EU opponents say, as Greek ‘No’ brings delight | Economy | GMA News Online
     
    DavyL200, Jul 7, 2015
    #29
  10. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    http://www.nytimes.com/2015/07/08/b...0150708&nl=todaysheadlines&nlid=64711512&_r=0
     
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    nwlivewire, Jul 8, 2015
    #30
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