Cable Forum - Eurozone will collapse...

And what about the other banks/EU countries that did the same?

It would be Greece that would have broken any rules/laws. Greece also used other methods to hide debt, eg publicly owned companies running up debts which don't appear on the government's books.

Their whole economy was propped up by excessive borrowing. They are now having to face the reality of how bad their economy really is and was. Things are having to be cut back because they never could afford them in the first place.

That'd depend on the outcome I imagine. As I've said I think it's unlikely to happen but if it did then and the action were won there'd could be all sorts of ramifications.

Ignitionnet

11-07-2015 21:54

Re: Eurozone will collapse...

I have mentioned Germany's mercantilism, and how the Euro has benefited Germany profoundly at the expense of other Eurozone nations. Here it is in one chart, this is Germany's trade surplus, see if you can spot when the Euro was introduced.

https://www.cableforum.co.uk/images/...2015/07/17.png

figgyburn

13-07-2015 08:39

Re: Eurozone will collapse...

Well they seem to have reached an agreement.80 billion euro bailout(whats the full bailout total now?).imaginary money paid by the northern countries .i.e taxpayers.Does anybody really think the greeks will impliment the conditions.Who will be monitoring whether they do?.They need to get people from the german banks to sort out their finances.The eu will do anything to keep their cabal together.

Derek

13-07-2015 08:43

Re: Eurozone will collapse...

Standby for the rioting in Athens.

Can't see the Greek PM surviving this, even if he manages to get the required law changes through by Wednesday.

Osem	13-07-2015 08:44

Re: Eurozone will collapse...

It's a total joke really. This printed money is just going down the drain never to be seen again but the deal enables the fixated Eurocrats to delude themselves that the Eurozone works so it's all just tickety-boo now... :rolleyes:

Damien

13-07-2015 08:53

Re: Eurozone will collapse...

Complete capitulation from Athens. They've agreed a deal substantially worse than that they rejected just over a week ago in the referendum. They have been remarkably incompetent in handling this crisis and it's only their last ditch pragmatism that has led to this deal doing done! Had they found that appreciation of the reality of their situation months ago then the deal would have been a lot less harsh. The level of pure vindictiveness from the Eurozone towards Greece is also pretty hard to swallow.

Osem	13-07-2015 08:57

Re: Eurozone will collapse...

Quote:

Originally Posted by Damien (Post 35788103)

Complete capitulation from Athens. They've agreed a deal substantially worse than that they rejected just over a week ago in the referendum. They have been remarkably incompetent in handling this crisis and it's only their last ditch pragmatism that has led to this deal doing done! Had they found that appreciation of the reality of their situation months ago then the deal would have been a lot less harsh. The level of pure vindictiveness from the Eurozone towards Greece is also pretty hard to swallow.

Well if you dare to disagree with the paymasters there's a great big German engineered, EU endorsed jackboot ready to squish the life out of you.

We really do have to get out of this place and let them get on with it.

heero_yuy

13-07-2015 09:18

Re: Eurozone will collapse...

Quote:

Originally Posted by Derek (Post 35788095)

Standby for the rioting in Athens.

Can't see the Greek PM surviving this, even if he manages to get the required law changes through by Wednesday.

He still has to get the measures through the Greek parliament and that means the MPs going back on their commitments to the people. Any way up this is going to be a mess.

As far as I can see even IF the measures go through it mearly kicks the battered old tin can a little further down the road. Unless the Greek economy can put on an unimaginable spurt of real growth we'll be back here again in a few months.:dozey:

Osem	13-07-2015 09:43

Re: Eurozone will collapse...

I bet it'll be a German made can...

---------- Post added at 09:43 ---------- Previous post was at 09:20 ----------

I've heard rumours that one of the lesser known terms of the bailout is that flattering images of Merkel are to be beamed onto all of Greece's major monuments just to remind the people of who saved them...

nomadking

13-07-2015 09:52

Re: Eurozone will collapse...

Quote:

Originally Posted by Osem (Post 35788113)

I bet it'll be a German made can...

It's unlikely to be a Greek made one, as they don't manufacture much.

The Greeks previously agreed to cut back on their bloated public sector workforce. At one point they started to do that, then they were all employed again. Just an obvious example of why they cannot be trusted.
Eg

Quote:

Now a group of cleaning ladies who were sacked by the finance ministry are to get their jobs back, after being sacked in 2013.

Nearly 600 of the women had picketed the finance ministry building in Athens after being fired by the previous conservative government of Antonis Samaras.

...
Mr Tsipras has pledged to reinstate thousands of public servants who lost their posts under budget cuts demanded by the EU and International Monetary Fund in return for a €240 billion (£180 billion) bail-out.

Osem	13-07-2015 09:58

Re: Eurozone will collapse...

Are they any worse than Labour with their benefits culture and non-jobs? :D

We all know the Greeks shouldn't have been admitted into the club in the first place for the reasons mentioned in this thread any number of times. Someone remind me why that was? Carrying on with this madness is going to lead to far bigger economies winding up where Greece is.

Anyway given all this wonderful printed money flying about, I think we should rejoice that thanks, in no small part, to Gordon Brown our gold reserves are about 1/8th of those held by Italy.

Ignitionnet

13-07-2015 14:43

Re: Eurozone will collapse...

Never one to miss a chance, however slim, to have a pop at Labour.

Sad, though not as sad as this Greek capitulation. See how long it lasts before everyone is back where they are now, that's if the Greek parliament and people accept this frankly punitive deal.

Osem	13-07-2015 14:56

Re: Eurozone will collapse...

The EU is just one big happy family right now:

http://www.bbc.co.uk/news/world-europe-33506773

Of course none of this was at all predictable was it... :rolleyes:

As for the Greeks, well how much more power over their own affairs can they surrender?

richard s

13-07-2015 15:04

Re: Eurozone will collapse...

Looks like they had no control over their affairs in the first place thats why they are in the pig poo.

Osem	13-07-2015 16:14

Re: Eurozone will collapse...

Quote:

We simply haven't seen since the 1930s a rich developed country collapse as Greece is doing right now - millions of people threatened with losing their life savings, companies on the point of collapse, cancer sufferers unsure what treatments, if any, will be available to them.

Now to most outsiders, this demarche is in part the consequence of the incompetence and greed of a succession of Greek governments, and the negligence, incompetence and political insensitivity of the rest of the eurozone and the International Monetary Fund.

In other words, debtor and creditors are both to blame, arguably in equal measure.

So what is particularly horrifying to dispassionate observers is the perception that most of the eurozone, and especially Germany, is hell-bent on making an example of Athens, humiliating the government of Alexis Tsipras, as the price of a financial rescue that - in a best case - will continue to make Greeks poorer, though not as poor as leaving the euro would do.

http://www.bbc.co.uk/news/business-33503330

I dare say some will be thinking that tanks and soldiers have been replaced by bankers and eurocrats.

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