Economic Turmoil in Greece and Europe

Well, this isn't going to go well.

That's what you get when you have an entitlement society. People grow up expecting things to be handed to them, and when the handouts stop, people get pissed. At least that's what happened in England.

In Greece, they've been borrowing money for decades and now they don't have a dime. They either take a 177 billion dollar bailout from other European countries or default on their debt. Their credit rating has to be the worst in Europe.

Portugal has already been bailed out by Germany. The Euro is going to collapse economically sometime soon. Germany is gonna end up owning Europe without having to fire a shot this time.

Good work England staying out of the Euro bullshit.

Don't topics usually have a question or article or something?

We stayed out of the Euro, but we're still going to have to bail out countries as not doing so will be a negative to us......it's mostly on France and Germany's shoulders though......I can see their rage at every European country helping us get support in taking law back to our lands.......fuck these Swiss and Belgium based twats and their human rights laws.


But yeah......Greece were even more retarded. Having a look at some of the blatant economic mismanagement and corruption is laughable. No one rich pays taxes and everyone retires at 50 and gets a 90% pension

They are now allowing the public to vote on whether to go bankrupt or not. I get the impression that the Greek prime minister is trying to save his own arse by giving the ignorant and disillusioned Greek populace what they want. I won't be surprised if Greece get their debt written off.....but it will be a disgrace and further proof that giving any handouts to these countries before/after they fuck up their economy is not respected or worth our while.

SBSP wrote:Don't topics usually have a question or article or something?

This is exactly what's wrong with this forum. People aren't allowed to start a debate on a subject without being questioned about having a source or some shit. Dipshit.

James wrote:

SBSP wrote:Don't topics usually have a question or article or something?

This is exactly what's wrong with this forum. People aren't allowed to start a debate on a subject without being questioned about having a source or some shit. Dipshit.

If you think that's the biggest problem on the forum then youre insane. SB - It's all over the news. Greece is bankrupt.

Shut up James. I just thought it was an odd way to start a topic.

At least he starts a topic unlike you who posts POINTLESS shit on EVERY thread he visits.

In Greece there is more Porsche Cayenne's than there is people on £30k+ a year.

The EU bailout deal, agreed last month, would give the heavily indebted Greek government 130bn euros (£111bn; $178bn) and it imposes a 50% write-off on private holders of Greek debts, in return for deeply unpopular austerity measures.

I guess you have to look at it two ways. Anyone who gave Greece money is at fault for letting a country which cannot pay the debt back borrow their money.

Still......Greece could be doing better, it just needs to make it's austerity measures stick.

I blame the Greek people for evading taxes and doing everything as cash in hand.

They're in a bad way. I'm certainly not going back this year.

The US isn't in much of a better state either. We will soon follow Europe unless we get our shit together.

Ron Paul 2012.

Here's a question regarding bailouts though, because I know almost nothing of what actually happens.

For instance, Germany bailed out Portugal and they are likely going to be the ones that abil out Greece cuz the rest of the EU is broke. Now, does Germany monitor, NOT control, their political choices/implementations, etc?

In this instance, were Portugal to start doing something which we and the Germans know simply will not work, does Germany get to say "Hey, we saved you, don't do that it's a waste of our money"

Do you have influence because Portugal and Greece will be running on German dollars.

---This isn't about the US Ahly. This hurts us because their shitty economy and countries cause the banks to scramble, which effects global markets, thus the USA.

Mustangt125 wrote:Here's a question regarding bailouts though, because I know almost nothing of what actually happens.

For instance, Germany bailed out Portugal and they are likely going to be the ones that abil out Greece cuz the rest of the EU is broke. Now, does Germany monitor, NOT control, their political choices/implementations, etc?

In this instance, were Portugal to start doing something which we and the Germans know simply will not work, does Germany get to say "Hey, we saved you, don't do that it's a waste of our money"

Do you have influence because Portugal and Greece will be running on German dollars.

---This isn't about the US Ahly. This hurts us because their shitty economy and countries cause the banks to scramble, which effects global markets, thus the USA.

I'm not sure if Germany could have political influence on Greece by bailing them out. I know for a fact that the IMF does have political influence on countries when helping out countries. I would imagine it's the same in this case, but I'm not sure. There is nothing stopping Germany from putting stipulations on Greece in such a case. Although some opponents to the IMF state that having political influence is one of it's bad points.

Zlatan wrote:I blame the Greek people for evading taxes and doing everything as cash in hand.

And then having the cheek to refuse to give into the Euro demands to get them out of the heap of trouble they are in

So what happens if Greece default?

Sean wrote:So what happens if Greece default?

Get docked 10 points or get relegated out of the European Union.

They get relocated down the road and renamed Albania Dons.

Then AFC Greece start again in the 10th division.

And they have trials to see who can be Greek.

Sean wrote:So what happens if Greece default?

Would damage their economy (along with the economies of everyone who gave them money) and their future. It's like when someone defaults on their debt. They go into bankruptcy.

ahlycotc wrote:The US isn't in much of a better state either. We will soon follow Europe unless we get our shit together.

Ron Paul 2012.

I'm slowly losing faith in Paul.

The US is fucked, the debts you have, I read somewhere even if you taxed every single American 100% of their money you still wouldn't break even, so you shouldn't say Greece is going to fuck you up, you've fucked yourselves up

Anyway on the point at hand with Greece, well they're fucked as well

Greece will go bankrupt sooner or later(probably very soon).The politicians arent the only ones to blame for this.Greek people are horrible,they work 3 hours a day and get 2k euros for salary.We dont produce anything,and everybody lives in luxury.Our downfall started back in 1981.I am very worried about the future,thats why I am looking to study and live in a better country.

The Greek people should revolt, create a new state and refuse to honour the debts of the previous state. I believe Lenin did something similar.

.

No-one's actually going to go to war over this though.

Greece, Spain, Portugal and Italy changed their books just to get into Europe so I'm not surprised this is happening. They should be kicked out one by one until it all settles itself out.

Couldn't imagine going back to the Drachma, even though they look cool, I need more

Lets see if Papandreou wins the No-Confidence vote.

We're nowhere near as in trouble as Greece. We make stuff, and have resources. They make nothing and have nothing.

Mustangt125 wrote:We're nowhere near as in trouble as Greece. We make stuff, and have resources. They make nothing and have nothing.

You've got to be kidding me Have you seen your debt? The only reason you haven't collapsed is because you're the reserve currency of the world. People want out of the US dollar, and are trying to get out of it, as soon as that happens you'll collapse