Greece/EURO/shares etc...

[Doggy Styles]

They now have incentives to build and grow their own stuff and Oil has been found off the coast of Crete and I am going to buy myself a nice little taverna that will be called "Dodgy's Mousaka and Kebab house" plate smashing on Fridays and table dancing on saturdays

Will you have a Minotaurs Night?

[AtW]

They now have incentives to build and grow their own stuff and Oil has been found off

Quite.

They just need 39.15 bln dollars NET to make up the difference between exports and imports to maintain their current lifestyle, so that's around 1 mln barrels per day assuming ZERO cost of extracting oil and selling it at $100.

Since they don't have their own oil companies they'd have to profit share it with somebody who'll bear the costs of drilling etc, in which case they'd be lucky to make $20-30 net revenue per barrel: so they'd need maybe 3-5 mln barrels of oil daily.

For your information Saudi Arabia achieves around 11 mln barrels per day ...

Conclusion - stick to cold calling ...

[d000hg]

Euro will survive.

If it's only used by one country it doesn't really count.

[AtW]

If it's only used by one country it doesn't really count.

You mean like Sterling?

[DodgyAgent]

Will you have a Minotaurs Night?

If that involves getting in some scantily clad Eastern European totty then of course

[darmstadt]

They now have incentives to build and grow their own stuff and Oil has been found off the coast of Crete and I am going to buy myself a nice little taverna that will be called "Dodgy's Mousaka and Kebab house" plate smashing on Fridays and table dancing on saturdays

You can live for only so long on Olive Oil and Feta and the Cretans (sasguru family) don't consider themselves Greek and will do what Scotland wish they had done, declare independence

[darmstadt]

They're absolutely and truly ****ed. They can't form a coalition (breaking news) so expect either a revolution, junta or they have to have the elections again...Stupind, stupid people

[darmstadt]

If that involves getting in some scantily clad Eastern European totty then of course

Plenty of that here, you're more than welcome to some of it...

[Old Hack]

Quite.

They just need 39.15 bln dollars NET to make up the difference between exports and imports to maintain their current lifestyle, so that's around 1 mln barrels per day assuming ZERO cost of extracting oil and selling it at $100.

Since they don't have their own oil companies they'd have to profit share it with somebody who'll bear the costs of drilling etc, in which case they'd be lucky to make $20-30 net revenue per barrel: so they'd need maybe 3-5 mln barrels of oil daily.

For your information Saudi Arabia achieves around 11 mln barrels per day ...

Conclusion - stick to cold calling ...

But thats the thing AtW, they have been living a lavish lifestyle, and one they couldn't afford sicne they joined the euro. Throughout the 70's, 80's and early 90's, they were considered the poorest European nation, and had a credit record to match. Once they had an 'economic miracle' (the term they used at the time), which rendered them the fastest growing European nation between 95-99, they were allowed to join the euro, and gorge themselves on credit at German credit levels. That's the issue. Well, that and some accounting I am amazed at. You keep mentioning their current trade deficit, or balance, and that's obviously skewed. Check it in 3 years time, and it's going to be like '87 again, and they survived then. The financial armegeddon being touted is largely for the tin foil hat brigade as it is not going to happen. We're not going to see an 'Arab Spring' in Europe as we haven't been oppressed like the Arabs had, who are willing to die in their droves for democracy. Can you genuinely see a European getting out of his bed and taking up arms against a democratic government? I can't.

It'll be the same tulip until the the carousel stops and people realise the £1m the bank turned into £1tn doesn't actually exist.

[DodgyAgent]

I watched Michael Portillo last night investigating this in a program called the World. The chilling interview with the German finance minister sent a message that the Euro was now interwoven into the fabric of Europe and that it could'nt be undone and that countries "may need to consider their sovereignty status" Asked about the Greeks outcome the best he said was he "hoped" they would come out of it as if even though Greece has pooled its sovereignty with the rest of Europe that it was on its own getting out of the mess.

The German bastards have a thriving economy thanks to their wiping out of all competition from other European nations. These nations have borrowed money (lent by the Germans) to buy German goods at prices kept low by the relatively low value of the Euro.

The Germans are gradually taking over Europe - raping and pillaging it along the way- where have we seen this before?