https://www.youtube.com/watch?x-yt-...draQ&feature=player_embedded&x-yt-cl=85027636
A Greek's perspective.
BS
A Greek's perspective.
BS
Financial Crisis In Greece
- Thread starter Big Sleazy
- Start date
A related note, lets not forget the big picture, like real long term the very reason for the existence of the European Union.
The EU, simply put, wants to be a world power. The glory days of Europe. Basically they think at being a block of countries gives they the best chance at greatness and world leadership again.
The catch is, everyone must pull his weight in order for this to have a chance.
Clearly, the problem of Greece, could derail the grand play.
That is why I think Grexit is the most probable outcome.
The leftist and Liberals are extremely stubborn. The way Tsipras is talking, it is funny.
Bye bye Greece. No more loans for you.
The EU, simply put, wants to be a world power. The glory days of Europe. Basically they think at being a block of countries gives they the best chance at greatness and world leadership again.
The catch is, everyone must pull his weight in order for this to have a chance.
Clearly, the problem of Greece, could derail the grand play.
That is why I think Grexit is the most probable outcome.
The leftist and Liberals are extremely stubborn. The way Tsipras is talking, it is funny.
Bye bye Greece. No more loans for you.
That may have been the grand plan but they expanded too fast too soon.
The Euro was set up without contingency plans for a monetary crisis. The hard negotiations never happened, it was assumed that Germany and France would always back the ECB. Crisis was inevitable since Italy and Spain could no longer devalue their currency to make up their financial shortfalls. Adding Greece to the mix just made things worse.
The Euro's future now depends on Italian PM Matteo Renzi's ability to cut the power of the Italian Senate. If he can accomplish that he'll have the majority he needs to push through his economic reforms.
Do you trust him?
https://www.youtube.com/watch?v=4blKB1_Cc54
The Euro was set up without contingency plans for a monetary crisis. The hard negotiations never happened, it was assumed that Germany and France would always back the ECB. Crisis was inevitable since Italy and Spain could no longer devalue their currency to make up their financial shortfalls. Adding Greece to the mix just made things worse.
The Euro's future now depends on Italian PM Matteo Renzi's ability to cut the power of the Italian Senate. If he can accomplish that he'll have the majority he needs to push through his economic reforms.
Do you trust him?
https://www.youtube.com/watch?v=4blKB1_Cc54
All the ECB has to do is discontinue their waiver of allowing Greek Banks to use junk bonds (aka, Greek government bonds now rated at junk levels) as collateral for ECB liquidity - poof, collapsed Greek banking system.
Sorry, Greece—you’re not going to get what you want (whatever that is)
http://qz.com/337393/sorry-greece-youre-not-going-to-get-what-you-want-whatever-that-is/
http://qz.com/337393/sorry-greece-youre-not-going-to-get-what-you-want-whatever-that-is/
Europe gained it's wealth through colonialism and conquest, for the past 2000 years they have been playing a zero sum game, now they have to work for a living rather than take by force or through skulduggery.
It is our good luck that we live in a country in which we have vast resources to rape and plunder to help prop up our economy, if that ever runs out; we will be exactly where greece is and perhaps in an even worse state as no other countries would give us a bailout no matter how small.
Just the impact of low oil prices has put huge pressure on our economy and the value of our dollar, thank god we still have other things we can steal from the earth to make ends meet.
It is our good luck that we live in a country in which we have vast resources to rape and plunder to help prop up our economy, if that ever runs out; we will be exactly where greece is and perhaps in an even worse state as no other countries would give us a bailout no matter how small.
Just the impact of low oil prices has put huge pressure on our economy and the value of our dollar, thank god we still have other things we can steal from the earth to make ends meet.
