Will there be a Grexit?

[BrilloPad]

There will be a grexit. Greeks are getting all they can out of their banks; before the default, and emergency transfer to the drachma. The question is will Greece stay in the EU, or NATO?

There is the question of affect on other countries. I suspect other Southern Europe countries will be unaffected - they are in better shape than 2012.
However I think Germany may suffer. The German taxpayer does not realize how much Greek debt they have on board. I think when they find out how much, now worthless, debt there is, they will be unhappy.

[Unix]

It's almost inevitable now, they have only a week left to avoid it, based on the politics of it I can't see either side giving way.

[jamesbrown]

It's almost inevitable now, they have only a week left to avoid it, based on the politics of it I can't see either side giving way.

There's a good chance, in the medium-term, unless there's serious additional debt relief, but don't underestimate the power of the EU (and the lack of mandate for leaving on the Greek side) to kick the can a little further in the short-term. It'll probably take another round of failure on the Greek side to convince Merkel that she's really had enough. I'd be surprised if it ends this week.

[minestrone]

There were some good articles in the sunday times today on the subject, I think the Germans are pretty much game on for it now.

I liked the quote by Christine Lagarde... ( paraphrasing ) "we are only going to solve this is there are adults in the room".

[Unix]

There were some good articles in the sunday times today on the subject, I think the Germans are pretty much game on for it now.

I liked the quote by Christine Lagarde... ( paraphrasing ) "we are only going to solve this is there are adults in the room".

I can see why both sides cannot give in, Syriza were voted in to stop more Austerity due to the devastation on the Greek economy and the crisis it has caused so they cannot and should not bow to the institutions.

The institutions can't forgive the debt or give too much slack because then other countries with much bigger debt will want the same which will spell the end of the Euro.

The only options is stalemate leading to Grexit or Grexident

[minestrone]

There as a line in Lawson's Column that to get into the Eurozone they had to had to prove they had a deficit above -3% GDP, the said they had -1.5% where in fact they had -8%. So they fudged the books.

I genuinely feel sorry for the general public and sadly it's going to be really bad for them, thankfully Syriza's bluff about taking on Russia's money was completely ignored by the eurozone. For that Syriza can go and feck themselves. The public should now call for an election and just take the pain for 20 years.

[minestrone]

There was a bit about holidays in Greece being dirt cheap now, 50% off.

It's actually tempting.

[PurpleGorilla]

Please just get on and default already! This has gone on long enough.

[cojak]

Listening to Today this morning.

The Greek Government rep was rather peed off when he realised that the presenter wasn't really interested in Greece, just the Greek's perception of the UK leaving the EU.

[PurpleGorilla]

Personally, I am pro EU, but not how it currently is.

There is too much corruption.

It is too fiscally orientated.

The banks are the masters and we are the slaves.

It is hugely undemocratic.

I hope Greece is a napalm to the project, and a Phoenix comes from the ashes.