The Greek Tumour

dragondick

http://money.cnn.com/2015/06/30/news/economy/greece-in-two-minutes/index.html






The financial problems of Greece are their own making.


The previous Governments introduced 3-4 day work week & retirement @ age 45 , + attractive pension payments (I cannot verify these, only what I heard), so who is going to work & where did the Govt get the money to pay for this extravagance?


You got it, through borrowing as if there is no end to it.


There is no doubt in my mind that the Govt/country will go bust!


Greek's financial woes are not my concern.  What I am trying to deduce is that this is the best time for garage owners to recruit Greek MMs because the oldest profession is the best/easisest way to make quick money!

dragondick

Just read something about what cause the Greek problem:

1.  Retirement age is 55 while average mortality age is about 75.
2.  Retirement income/benefit from the Government is 100% of retirees' last income.
3.  46% (almost half) of population is on welfare and/or retirement income.
4.  Only 36% of under 55 y.o. population works for a pay cheque.
5.  Greeks consider tax evasion as their birth right.

As a result, Government simply does not have revenue to cover the shortfall of funds.

Creditors want:
1.  Extend retirement age.
2.  Reduce pension payment.
3.  Increase taxes.

The Greek government does not agree to any of above but want continued/additional loan to pay for these excesses.

100 years ago, China was called "the sick man of Asia", Greece is more than "the sick man of Europe", it is a tumour & can threaten the unity of Europe.

dragondick

http://www.cnn.com/2015/07/01/eu ... is-memes/index.html

7samurai

Both the lenders and the borrower should be put out of their misery?  

dragondick

When you (I mean Greece) borrow from the banks, you must repay.  

If you (I mean Greece) die, your estate (future generations of Greece) will pay.

If you (I mean Greece) think the banks will "forget (forefeit)" the loans, that is the mentality of the Greek government right now, that will never happen.

Greece thinks Russia can help, but Russia has its own problem, also Russia may want the land for geo-political reasons, but not the 11 million Greek pan- handlers!



  

dragondick

https://ca.finance.yahoo.com/new ... 002265--sector.html

Greek's referendum result is in, over 60% of population voted "NO", i.e. will not accept ECB's recommended austerity measures.  Of course, no more loans from any banks & the Greek Govt has no more money, also all future purchases will be COD, credit rating will drop to nothing.

It does not mean that Greek's debt will go away.  It will stay there until it is paid up.

With no money to pay for anything, including Govt employees, the Govt will fall.  

coverin44

The entire Greek population is 伸手黨

dragondick

足知全部比人吊屎忽，所以佢地係 Greek!  

dragondick

https://www.youtube.com/watch?v=VHeP8uDN0S8


View 3/4 of the above panel discussion and you will say, "Go fuck the Greeks, let them die, they deserve every bit of their troubles!"

dragondick

As you all know the Greek PM finally succumbed to ECB's demands for a more severe austerity-ladden "salvage plan".

To secure a new round of debt/loan, Greece mortgaged all state assets + EU has the veto to all Greek parliament's  legislature.  Putting it bluntly, Greece sold its soul.

Do the Greeks deserve it?  Absolutely!
Do the Greeks have choice?  Not really.  It is a choice of being hungry or die of hunger immediatley or a slow death with an ultra sliiiiiiiiiiiiiiiiiiiiiiiiiim chance of recovery in the future.
Are the current generation to be blamed for it?  No!  All past Greek governments for the past 50 years should!

IF everything goes well, it will be another 50 years B4 Greece can reclaim its financial freedom!