Greece: We voted for you to give us more money
Germany: sorry
Greece: WHY DO YOU HATE DEMOCRACY
— David Burge (@iowahawkblog) June 28, 2015
Foxnews: Greek banks will not open Monday
Update: Greek Banks And Stock Exchange In Shutdown
WSJ Blog;
It now looks almost inevitable that Greece will default on a €1.54 billion ($1.69 billion) payment due to the International Monetary Fund on Tuesday. Much is at stake beyond the IMF’s balance sheet. What happens to Greece itself? What happens to the euro, a purportedly unbreakable currency union, and the Continent’s attempt to recreate itself as a global economic superpower? What happens in the capital markets, which have feasted on cheap debt and assumed all risks were contained?
>”They will not succeed. These moves will have the exact opposite effect. They will make the Greek people more determined in their choice to reject the unacceptable … proposals and ultimatums of the creditors,” he said.
There is no opposite effect for the creditors, they aren’t getting their money back now.
You either cut pensions and show a bit of good faith or you go hungry.
They have closed for a week and closed the stock exchange
As if a great multitude cryed out
Illiquid I
Populists and their strange admirers http://waltherpragerandphilosophy1.blogspot.ro/2015/01/populists-and-their-strange-admirers.html
Anyone else wonder what a 7 trillion dollar margin call will look like?
Black Hole..
Now Puerto Rico-
http://money.cnn.com/2015/06/29/news/economy/puerto-rico-default/index.ht
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Ammo, food storage, water storage, generators, gas, (cigars, liquors,) (for trade/barter)
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Those of you buying gold, silver, store enough cash for a least 6 months..
Sorry-
link wants cash only..
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Puerto Rico can no longer make payments on its $73 billion in debt, according to Governor Alejandro Garcia Padilla, who warns the island is perilously close to entering a “death spiral”
Q: A Greek, a Spaniard, and a Portuguese walk into a bar. Who picks up the tab?
A: The German!
Greece owes $1.79 billion due Tuesday and will receive a payment of $8 billion on Sunday.
Subtract the Tuesday debt from the Sunday payment. Crisis averted. Do these people have a brain…
Kick the can.
I wish someone had the balls to say no!
As Ontario closes in on 40% debt to GDP and is still racking up debt at an alarming rate, the provinces inner Greek is rehearsing lines from Zorba the Greek.
Subtract the Tuesday debt from the Sunday payment. Crisis averted. Do these people have a brain…
Umm, because they would have to cut pensions?
The failure of the Economists to quantify the value of “soft” currency is complicated by all the angst within the EU evaluation bench marks. Not many people, or countries, know the REAL value of their currency. (Only the EU can print the phony Money) When socialists find out that the sky does not fall, nor is there a known limit to what they can spend (it’s all backed by bull shit) it is party time…IOU and YOM & the music keeps playing.
Grease will just exit the EU and print their own phony Money. If Putin’s Russia becomes their main trading partner they will have another 50 years of financial ignorance, or until inflation hits the wall.
Greece can have its own currency but no-one will want it. It will be prepayment or COD for Greek industry. Not solving the problem doesn’t make it go away. Anyone who still has money in a Greek bank account is an idiot.
I seriously hope this makes someone somewhere realize some really awkward truths and forces them to start making some seriously tough decisions, decisions that will have global effects.
A: The scrawny super model? Oh, wait. “tab” not “TaB”. Never mind.
That’s like Ontario worrying about filling in a gopher hole while ignoring the expanding 3800 meter deep crevasse just south of the border.
When the U.S. goes, it will take most of the rest of the world with it.
Civilization was nice while it lasted. The dominos will soon fall and it will be all the excuse President J McFoodstamp will need to install himself as King For Life and rename the White House “Barackingham Palace” (Props to Steyn right there).
“Anyone who still has money in a Greek bank account is an idiot.”
What makes you think that it is not all Greek Welfare Money that is been distributed by the Banks?..Government money debit cards.
The private wealth would not be in Greece, that is why socialist
Governments fail.. They are churning their own shit
I always wondered what a Greek haircut would look like.
They’ll never leave their buddies behind!
I am seriously starting to consider moving to Canada. As a Brit who moved to France replied, after being asked “Isn’t France going to Hell the same as England?”
“Yes, but it is not as hard to watch when it is not your own country.”
Everyone say’s greece is to small to have an impact ….lol
Greece admit’s default….DJIA drops 309 points and the day is not over yet!!
Party is over time to pay the piper socialist euro weenies…i wanna see the muzzies pickapart the carcass that was once the EU.
Yes i said muzzies as in head choppers , while the minions rape and interbreed with the white girls in europe and demand halal….the smart muzzies with all the money are sitting and waiting for the right time to strike the time is near. Prepare for the queenof england to hand over her throne. It’s coming.
The more money you print, the more money you make! Ask Bernie Sanders! As long as Chinese “businessmen” are willing to set their slaves to work making stuff in return for it, it sure seems that way.
Tim in vermont if you are a lefty sack of sh!t like most of your british loser compatriots Stay right where you are we dont want or need more socialist lefty voters we have more than enough here already keep your pathetic voting habits out of our country. If you are right of centre on most issues then welcome please come we need more of you here
Those Chinese business men are like the Muslim ones they have their eyes set on the west especially western women.
I hope Jesus returns soon.
Well fear not Sid Vicious, I heard that Borack is dealing on the little used nuts of Brucie’s. They are a step up from Boracks, the gonads that Brucie/ Caitlin had lopped off. You know there has to be a little more resolve in those nads of Brucies to even go through with that operation and once installed we will see a new and improved leader but with bad driving skills, and god help his offspring and wife, its possible they will begin doing anything to attract a television camera. Oh what a world.
It seems Greece and her citizens have run out of other peoples’ money. My understanding is they will surely be in default, or at least arrears, on Tuesday, but what happens after that is anyone’s guess. Greece’s problem is she is not a big player in the EU/Euro so they can afford to let her go. My impression is she will get yet another bail out, then another, ad nauseum, kind of like GM.
This is what we have in store for us, as a small economy, if the NDP gets into power and pays off their public sector union buddies with fat pension/government entitlements, at precisely the wrong time and the population continues to age with rise in inflation & interest rates. They seem sensitive to that opinion, given the recent “so you think they’ll start the gulags” and other such straw men arguments.
The NDP are hoping they can pull the wool over the eyes of enough baby boomer sheep to get them elected, so they can then tax them to death against their wishes, as the AB NDP has cynically done, at the bequest of their watermelon advisors flown in from the rest of the country, not an Albertan among them.
It won’t work; the socialist shine will wear off soon enough, as it did for Trudeau and Liberals without a home will move to the Tories. This will happen, of that there is little doubt. That is why Harper and the Tories “ain’t shook.”
If you are planning on moving to Canada, wait til after the October federal election to see if we are as stupid as the Americans by voting for a cool guy and/or or one willing to give us ‘free’ things.
To the Greek people I say, don’t kid yourselves – you’re not “too big to fail,” not by a long shot:
“German Vice Chancellor Sigmar Gabriel said the vote would be ‘yes or no to the Eurozone’.”
Well, OK, but what if I have a temper tantrum, will that change your mind?
“Athens resident Ilia Iatrou says the situation is “unbearable”. My mother-in-law queued up for over an hour at the cash point just to be able to withdraw a small amount of money. I haven’t tried to go to the cash machine myself, as we don’t have much money left. My neighbours and I have now resorted to a sort of barter system among ourselves because we have no money left. We can’t take any more of this, so we have to keep saying no to the EU masters. The EU can’t afford to let us fail so we should continue to say no and they will blink and give us a better deal.”
Causing a run on your own banks is probably not a good idea, or an effective way to press home your argument in the present circumstances. I’m just saying – throwing it out there.
http://www.bbc.com/news/world-europe-33319917
Is there anybody in Greece more than two years old?
“The NDP are hoping they can pull the wool over the eyes of enough baby boomer sheep to get them elected, so they can then tax them to death against their wishes’
Not likely. If that were so, then why haven’t the Boomers,(me included) elected the NDP to govern Canada before now, when our majority numbers are starting to die off?
How stupid do you have to be to think we’re that stupid when we’ve been in the demographic majority for so many decades?
What a stupid comment, re-read my post. How stupid do you have to be to not comprehend clear language? I guess you missed the part too where all those “demographic majority” boomers helped vote in the AB NDP.
BTW, the federal NDP was NEVER THE FEDERAL OFFICIAL OPPOSITION UNTIL THE LAST ELECTION, so things change, unlike your mind apparently.
” I guess you missed the part too where all those “demographic majority” boomers helped vote in the AB NDP.”
Flatout lie. On what evidence do you base the idea that Boomers voted in all those young NDP Alberta MLAs?
You spout nonsense. Obviously some “baby boomers” voted NDP in AB. BTW, keep working on your abysmal reading comprehension skills, your “See Spot Run” books must be getting worn out by now. You seriously believe no baby boomers vote NDP? Where’s your evidence? BTW, disagreement with a point doesn’t give you the right to call anything a “flat out lie.” Please tell me you have nothing whatsoever to do with the federal Tory party; with friends like you who needs enemies.