Greece WILL default on its debts ....

[The Spartan]

They're never going to pay it all back

[BrilloPad]

Only question is what the haircut will be. 50% minimum.

[sasguru]

They're never going to pay it all back

Or even the 50% agreed in the last deal.
Basically austerity has left them worse off than ever, so its even worse now.

[The Spartan]

I wouldn't mind a loan like that, we'll lend you 'x' and all you have to pay back is 50% or maybe less than the total amount that has been lent to you. Sounds like a bargain

[sasguru]

Coming next.

[TimberWolf]

When is it all going to start kicking off and what will be the result? Will Britannia sink beneath the waves?

[Paddy]

When is it all going to start kicking off and what will be the result? Will Britannia sink beneath the waves?

The terms of payments and interest for the Greek bailout are worse than France imposed on Germany in the Versailles Treaty after WWI. A recipe for disaster.

An interesting point brought up in on of Max Kaisers shows was that the straw that broke the camels back that kicked off the US recession was mass off-shoring of services thus leaving people with no money to pay off their debts.

[CheeseSlice]

The terms of payments and interest for the Greek bailout are worse than France imposed on Germany in the Versailles Treaty after WWI. A recipe for disaster.

An interesting point brought up in on of Max Kaisers shows was that the straw that broke the camels back that kicked off the US recession was mass off-shoring of services thus leaving people with no money to pay off their debts.

I've never heard of Max Kaiser before, but I just found this video of hiim on Youtube explaining the Feds QE policy.
Doesn't sound like a serious economist to me....

[TimberWolf]

Anyone know first or second-hand what it's like in Greece at the moment? Michael Portillo on this Week, this week, painted a pretty bleak picture.

[AtW]

Anyone know first or second-hand what it's like in Greece at the moment?

It was very nice in Corfu last summer...