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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. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Thanks for your input Miguel.

    Regardless of whether one agrees or disagrees with his position, he did make a rather stirring speech.
    Just wondering what makes him a joke - outside of his party having been handed a sounding defeat.
    Guess I'll have to read up more on this UKIP.

    ****

    Beyond that, it looks like a few balls are still up in the air with Greece.
    My email traffic is basically running into two camps - how to "carve" Greece up if they default (which vultures get to swoop in first); or, how to "manage" Greece and keep them on life support, hoping they will turn the corner if more funding is accepted/given.

    To my mind, there really aren't any clear winners in the short run.

    What a mess!

    nwlivewire
     
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    nwlivewire, Jul 10, 2015
    #41
  2. OP
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    DavyL200

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

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    If they do get another bailout I don't think they will ever pay off the loan and I bet it won't be the last time Greece defaults on a loan.
     
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    DavyL200, Jul 10, 2015
    #42
  3. Hans Boot

    Hans Boot DI Member Restricted Account

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    New Greek proposals were e-mailed (!) to Dijsselblom last night. Bottomline: te Greek government wants another 53 billion Euro... Oh yes, they did mention some reforms that they might consider taking (like raising the retirement age to 67 by 2022) and raising taxation on the shipping companies (yes, the 100 or so families in Greece that factually run the country)...
     
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    Hans Boot, Jul 10, 2015
    #43
  4. hawk263

    hawk263 DI Forum Adept Blood Donor Veteran Army

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    A recent IMF report (which the EU tried to suppress) concluded that the present debt burden of Greece is unsustainable. Obviously some serious fiscal reforms are necessary in Greece, but without a significant writedown and rescheduling of the existing debt, Greece will not climb out of the hole it's in.
    Merkel, in particular, is under pressure from her electorate who don't want to see more of their taxes going into this hole.
    So - is there the political / economic will to keep Greece in the EU?
     
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    hawk263, Jul 10, 2015
    #44
  5. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Just found this article from the NY Times....

    http://www.nytimes.com/2015/07/08/business/economy/germanys-debt-history-echoed-in-greece.html?_r=0
     
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    nwlivewire, Jul 10, 2015
    #45
  6. Hans Boot

    Hans Boot DI Member Restricted Account

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    I for one hope that the leaders of the various EU countries that have bled their taxpayers money into the Greek 'black hole' will listen to their constituents and tell Greece to go fly a kite! I still pay taxes in my home country
    I don't know what history books the author of that terrific piece of garbage reads, but I do seem to remember that a nice chunk of Greece's debt has already been written off in the recent past. Statements to the effect that Greek pensioners have been reduced to the beggar state are absolute nonsense and not based on anything but heresay. Sure, the picture of a crying man sitting against the facade of the bank makes nice news for the social media but it also makes one wonder where the billions and billions of Euro's have disappeared to that were taken from the Greek banks prior to them running out of cash. Only the happy few? Seriously doubt that. Let Greece first prove that they can and will implement measures that will reduce its spending significantly and enable it to pay the interests due its creditors before any debt-restructuring can be discussed. Until that happens, all their plans are no more that nice ideas and a whole lot of hot air, and I for one am not willing to donate any more of my cash into that black hole...
     
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    Hans Boot, Jul 11, 2015
    #46
  7. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Really appreciate the perspectives shared on this issue. It seems the press is all over the place with this.

    nwlivewire
     
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    nwlivewire, Jul 11, 2015
    #47
  8. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Talking to a Greek guy in Cebu in Thursday, He told me that he has had to re-apply for his European Pension as his Greek element has been withdrawn.
    JP:facepalm:
     
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    Jack Peterson, Jul 11, 2015
    #48
  9. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    WOW!

    Will his pension be less? Wonder by how much percentage if less than anticipated?
     
    nwlivewire, Jul 11, 2015
    #49
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    DavyL200

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

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    There are many reasons why Greece finds itself in a precarious financial position, one of which is its poor record at collecting tax. But is it really true that in 2010 the government collected only 10% of the tax it was due, asks David Rose

    Did Greeks fail to pay 89.5% of taxes? - BBC News

    That means that nearly one in four euros that potentially could be taxed in the country's economy simply weren't declared to the authorities, and the Greek government missed out on approximately 28bn euros ($31bn) of additional revenue each year.

    And it is looking like they will get another bailout,another waste of EU tax payers money!
     
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    DavyL200, Jul 12, 2015
    #50
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