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ICTChris

Greek referendum

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The creditors need to grow some humanity and realize that, barring any sudden change of heart, their current course of action will very probably lead to the deaths of hundreds of Greek people.

Aye. And the Greek people need to stick with the realisation they're going to be a bit less well off too. But nobody is getting 340bn back. It's like running up credit card debt - once your past what your house is worth you might as well take it all the road because they cannae take what you haven't got.

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Aye. And the Greek people need to stick with the realisation they're going to be a bit less well off too. But nobody is getting 340bn back. It's like running up credit card debt - once your past what your house is worth you might as well take it all the road because they cannae take what you haven't got.

I agree. The whole thing's just a horrendous omnishambles.

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Isn't capitalism an absolute b*****d? The galling thing is, while millions of Greeks are at their wits end with worry and the country teeters on the brink, some fat c***s somewhere will be making money out of this whole sorry mess.

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To be fair, there's not huge evidence of folk being at wits end with worry.

Any country needs to find a way of sustaining itself through a better balance of economic management and individual contribution to society. Bleeding obvious stuff but there is no doubt that there will be some truth behind the fact that the level of tax collected is well below what it should be. There's plenty more that most countries could do and huge efforts to avoid tax across the world by multi nationals doesn't help but the premise that the Greeks are piss poor at this must have some basis in fact?

Edited by HTG

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Examples of utter pish please.

I would be grateful if you could back up your claim that Goldman helped the Greeks with their Euro entry. Or is this the utter pish that you are referring to?

yes pish off

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Isn't capitalism an absolute b*****d? The galling thing is, while millions of Greeks are at their wits end with worry and the country teeters on the brink, some fat c***s somewhere will be making money out of this whole sorry mess.

There's nothing capitalist about what's going on in Greece. What is capitalist about government bailouts? It's the fact institutions know well in advance their getting bailed out, which fucks everything up.

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CI0J8ktXAAA4AK7.jpg

Greece's Finance Minister in 1953 there, signing a treaty to cancel 50% of Germany's debt.

#lad

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Isn't capitalism an absolute b*****d? The galling thing is, while millions of Greeks are at their wits end with worry and the country teeters on the brink, some fat c***s somewhere will be making money out of this whole sorry mess.

Yeah, f**k capitalism man. Especially that "Scandinavian capitalism" that many Scottish people would like to see applied over here.

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Capitalism is fine. Actual capitalism involves risk and reward though. Speculators being underwritten by the prospect of enforced austerity seems more like some extremely exclusive form of socialism.

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Previous PM's coming out today campaigning for a Yes vote. The folk who got the country into the situation telling voters what they ought to do to deal with it :lol:

Mind you Brown and Darling successfully warning Scots about financial meltdown provides a depressing bit of precedent there. Watching big Yanis' interview there, it'll be a shame if/when they're out of the picture in coming weeks.

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Capitalism is fine. Actual capitalism involves risk and reward though. Speculators being underwritten by the prospect of enforced austerity seems more like some extremely exclusive form of socialism.

Speaking of underwritten speculation. This was a good video I saw on it the other day. I wasn't aware bailing out of financial institutions dates back to the times of Thatcher and Reagan. Quantitative Easing is in many ways is back door bail outs for banks and hedge firms. Banks aren't nearly as highly regulated here as they are in America, but there is still the intertwined relationship between them and the government. Anyone who talks about whether banks or The City are regulated enough is not seeing the bigger picture.

Edited by Fotbawmad

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I wonder if Phil the Greek has put any of our money aside to help out his nation? Or if he's put it to Lizzy to help out? Do they have a holiday home on 1 of the islands? I bet she's still got suitcases of drachmas under 1 of her beds anyway, so she won't be arsed either way.

Grimbo

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Bail-in incoming.

Subscription required for FT but it's quoted here -

http://www.zerohedge.com/news/2015-07-03/greek-banks-considering-30-haircut-deposits-over-%E2%82%AC8000-ft-reports#comment-6266874

I suspect it wont be the last one either.

They already have plans to do it here sometime in the future. Most people I've talked to don't even know what a bail-in is and why they should be worried.

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They already have plans to do it here sometime in the future. Most people I've talked to don't even know what a bail-in is and why they should be worried.

Yeah same here. UK deposit insurance just slashed by £10k too.

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They already have plans to do it here sometime in the future.

Do they, aye?

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Greece should be a lesson to gnats and other spend and borrow socialists. Scotland spends considerably more than it raises in revenue, fact, has a big public sector and a pensions time bomb waiting in the wings, fact. We're okay while Westminster (in the form of Cameron) is covering the debt and subsidising our better funded nhs, free higher education, free prescriptions and blanket council tax freezes, but if that was removed we would spiral quickly just like Greece into the abyss. And anybody who thinks snp empty vessels like Fungus Gobertson, the Sturgbanfuhrer or fat Salmo would have any answers needs psychiatric help. These clowns would be swamped and swept away, but the damage would be much harder to shift.

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Greece should be a lesson to gnats and other spend and borrow socialists. Scotland spends considerably more than it raises in revenue, fact, has a big public sector and a pensions time bomb waiting in the wings, fact. We're okay while Westminster (in the form of Cameron) is covering the debt and subsidising our better funded nhs, free higher education, free prescriptions and blanket council tax freezes, but if that was removed we would spiral quickly just like Greece into the abyss. And anybody who thinks snp empty vessels like Fungus Gobertson, the Sturgbanfuhrer or fat Salmo would have any answers needs psychiatric help. These clowns would be swamped and swept away, but the damage would be much harder to shift.

Bore off Peter

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