The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[ludermor]

Greece crisis: Parliament votes to accept austerity measures as Athens burns
http://www.independent.ie/business/world/greece-crisis-parliament-votes-to-accept-austerity-measures-as-athens-burns-31380933.html

How the f**k can Alexis Tsipras stay as prime minister after half his own party vote against the measures and he sings up for Austerity measures more strict than what was on the table 3 months ago.

Only about 30 out of 150 Syriza MP's voted against the measures. In the UK the goverment whether its Tory or Labour often have similar amount of rebels in a number of important votes.
Tsipras had no hand to play with, he used the referendum to try and give him some leverage but the rest of Europe saw it for what it was. His only other option is Grexit which would in the short term anyway be catastrophic.

He has played all the hands he will ever get and fucked up the country more than when he started. How people can think he has played a blinder is beyond me.

[trileacman]

Greece crisis: Parliament votes to accept austerity measures as Athens burns
http://www.independent.ie/business/world/greece-crisis-parliament-votes-to-accept-austerity-measures-as-athens-burns-31380933.html

How the f**k can Alexis Tsipras stay as prime minister after half his own party vote against the measures and he sings up for Austerity measures more strict than what was on the table 3 months ago.

Only about 30 out of 150 Syriza MP's voted against the measures. In the UK the goverment whether its Tory or Labour often have similar amount of rebels in a number of important votes.
Tsipras had no hand to play with, he used the referendum to try and give him some leverage but the rest of Europe saw it for what it was. His only other option is Grexit which would in the short term anyway be catastrophic.

He has played all the hands he will ever get and fucked up the country more than when he started. How people can think he has played a blinder is beyond me.

Exactly either parley with Europe or take a Grexit. Choose the best way forward for your people and show a bit of f**king backbone. He's a spoofer of the highest order.

[Canalman]

Easy to talk big in opposition but when you get power and enter the real world.......
Sunn Féin please note....

Yep, same applies to Fine Gael, Labour, FF and oh every other party that finds itself in opposition in a democracy.

[macdanger2]

Greece crisis: Parliament votes to accept austerity measures as Athens burns
http://www.independent.ie/business/world/greece-crisis-parliament-votes-to-accept-austerity-measures-as-athens-burns-31380933.html

How the f**k can Alexis Tsipras stay as prime minister after half his own party vote against the measures and he sings up for Austerity measures more strict than what was on the table 3 months ago.

Only about 30 out of 150 Syriza MP's voted against the measures. In the UK the goverment whether its Tory or Labour often have similar amount of rebels in a number of important votes.
Tsipras had no hand to play with, he used the referendum to try and give him some leverage but the rest of Europe saw it for what it was. His only other option is Grexit which would in the short term anyway be catastrophic.

He has played all the hands he will ever get and fucked up the country more than when he started. How people can think he has played a blinder is beyond me.

Exactly either parley with Europe or take a Grexit. Choose the best way forward for your people and show a bit of f**king backbone. He's a spoofer of the highest order.

He was elected on an anti-austerity ticket, he took that to the brink in the hope of getting a better deal for Greece and lost out. His alternative was to leave the Euro and / or get assistance from Russia / China (those may not even have been options) and he obviously didn't think that was best for Greece and / or not what the Greek people wanted.

It's the equivalent of betting big early on in a poker game, hoping to bully your way to the pot but when you're called all-in with nothing in your hand, your only option is to fold.

I don't know how you can say he's shown a lack of backbone, he completely misjudged the situation and that's his fault - if he wanted to play hardball, he had to be willing call the EU's bluff and to leave the euro. But I think it's incorrect to say he's shown a lack of backbone. I wouldn't say he's played a blinder either though.

If you don't agree with the way he played it, then which alternative should he have chosen:

1. Accept the bailout upfront and backtrack on his election promises??
2. Take Greece out of the euro even though polls indicate that most Greeks don't want that??
3. AN Other??

In retrospect, what he should have done was to make the referendum a straight In/Out question on the Euro

[easytiger95]

If you get elected on an anti-austerity ticket, then fail in your negotiations to reduce austerity, then walk from those negotiations to call a referendum to reject the negotiated deal, then fold and accept conditions far worse then the previous deal, you've not only failed as a negotiator, you've also betrayed your supporters, if not your country.

the big problem with Syrizia was not promising an end to austerity, it was saying you could end austerity whilst remaining in the euro. Tspiras should have gone into negotiations having told his country that if it went wrong, they would have to leave the Euro. At least then the country would have had six months to prepare and Europe might have taken him a lot more seriously, rather than regarding him and his government as the only suckers at the table.

A complete failure as a Prime Minister so far.

[ludermor]

Greece crisis: Parliament votes to accept austerity measures as Athens burns
http://www.independent.ie/business/world/greece-crisis-parliament-votes-to-accept-austerity-measures-as-athens-burns-31380933.html

How the f**k can Alexis Tsipras stay as prime minister after half his own party vote against the measures and he sings up for Austerity measures more strict than what was on the table 3 months ago.

Only about 30 out of 150 Syriza MP's voted against the measures. In the UK the goverment whether its Tory or Labour often have similar amount of rebels in a number of important votes.
Tsipras had no hand to play with, he used the referendum to try and give him some leverage but the rest of Europe saw it for what it was. His only other option is Grexit which would in the short term anyway be catastrophic.

He has played all the hands he will ever get and fucked up the country more than when he started. How people can think he has played a blinder is beyond me.

Exactly either parley with Europe or take a Grexit. Choose the best way forward for your people and show a bit of f**king backbone. He's a spoofer of the highest order.

He was elected on an anti-austerity ticket, he took that to the brink in the hope of getting a better deal for Greece and lost out. His alternative was to leave the Euro and / or get assistance from Russia / China (those may not even have been options) and he obviously didn't think that was best for Greece and / or not what the Greek people wanted.

It's the equivalent of betting big early on in a poker game, hoping to bully your way to the pot but when you're called all-in with nothing in your hand, your only option is to fold.

I don't know how you can say he's shown a lack of backbone, he completely misjudged the situation and that's his fault - if he wanted to play hardball, he had to be willing call the EU's bluff and to leave the euro. But I think it's incorrect to say he's shown a lack of backbone. I wouldn't say he's played a blinder either though.

If you don't agree with the way he played it, then which alternative should he have chosen:

1. Accept the bailout upfront and backtrack on his election promises??
2. Take Greece out of the euro even though polls indicate that most Greeks don't want that??
3. AN Other??

In retrospect, what he should have done was to make the referendum a straight In/Out question on the Euro

Why did he have a referendum in the first case? That was his biggest cop out, asking people who have put up with Austerity for 6-7 years to vote for even more tougher austerity was never going to happen.

[macdanger2]

He had a referendum to try and force the EUs hand into a better deal. It completely backfired on him and he isn't prepared to leave the euro so he had to do a 180.

[Maguire01]

Greece crisis: Parliament votes to accept austerity measures as Athens burns
http://www.independent.ie/business/world/greece-crisis-parliament-votes-to-accept-austerity-measures-as-athens-burns-31380933.html

How the f**k can Alexis Tsipras stay as prime minister after half his own party vote against the measures and he sings up for Austerity measures more strict than what was on the table 3 months ago.

Only about 30 out of 150 Syriza MP's voted against the measures. In the UK the goverment whether its Tory or Labour often have similar amount of rebels in a number of important votes.
Tsipras had no hand to play with, he used the referendum to try and give him some leverage but the rest of Europe saw it for what it was. His only other option is Grexit which would in the short term anyway be catastrophic.

He has played all the hands he will ever get and fucked up the country more than when he started. How people can think he has played a blinder is beyond me.

Exactly either parley with Europe or take a Grexit. Choose the best way forward for your people and show a bit of f**king backbone. He's a spoofer of the highest order.

He was elected on an anti-austerity ticket, he took that to the brink in the hope of getting a better deal for Greece and lost out. His alternative was to leave the Euro and / or get assistance from Russia / China (those may not even have been options) and he obviously didn't think that was best for Greece and / or not what the Greek people wanted.

It's the equivalent of betting big early on in a poker game, hoping to bully your way to the pot but when you're called all-in with nothing in your hand, your only option is to fold.

I don't know how you can say he's shown a lack of backbone, he completely misjudged the situation and that's his fault - if he wanted to play hardball, he had to be willing call the EU's bluff and to leave the euro. But I think it's incorrect to say he's shown a lack of backbone. I wouldn't say he's played a blinder either though.

If you don't agree with the way he played it, then which alternative should he have chosen:

1. Accept the bailout upfront and backtrack on his election promises??
2. Take Greece out of the euro even though polls indicate that most Greeks don't want that??
3. AN Other??

In retrospect, what he should have done was to make the referendum a straight In/Out question on the Euro

It would have been a lot cheaper than the current situation. The last 6 months have been a disaster for Greece - a very bad situation has gotten significantly worse under the current administration.

From the IMF's report that talks about the need for debt relief:
Greece's public debt has become highly unsustainable. This is due to the easing of policies during the last year, with the recent deterioration in the domestic macroeconomic and financial environment because of the closure of the banking system adding significantly to the adverse dynamics.

The easing of policies and the current state of the banks is a direct result of Syriza being in power. You could argue that debt was unsustainable before 2015, but things are even worse now.

[macdanger2]

Dunno if anyone heard the play / radio drama "The Fund" on Rte Radio 1 last night, well worth a listen on the player

It's basically about a guy called Davison Budhoo who resigned from the IMF in 1988 having worked as a fund manager with the IMF when they overestimated the Relative Labour Unit Cost (essentially a measure of competitiveness of labour costs) to impose a program on Trinidad & Tobago back in the 80s.

Not much details about him online but this covers most of what was in the play:

http://www.thirdworldtraveler.com/IMF_WB/Budhoo_IMF.html

I thought the bit about privatising public assets in particular resonates with the recent deal in Greece

[muppet]

Dunno if anyone heard the play / radio drama "The Fund" on Rte Radio 1 last night, well worth a listen on the player

It's basically about a guy called Davison Budhoo who resigned from the IMF in 1988 having worked as a fund manager with the IMF when they overestimated the Relative Labour Unit Cost (essentially a measure of competitiveness of labour costs) to impose a program on Trinidad & Tobago back in the 80s.

Not much details about him online but this covers most of what was in the play:

http://www.thirdworldtraveler.com/IMF_WB/Budhoo_IMF.html

I thought the bit about privatising public assets in particular resonates with the recent deal in Greece

Interesting read that.

Tells you all you need to know about Reagan and Thatcher.

I see the PBOC devalued the Yuan last night. That is a complete reversal of policy up to now.

The experts are saying Yellen won't be able to start raising interest rates soon as she had promised.

[muppet]

Interesting chart. Basically annual tax revenues divided into total public debt:

[muppet]

Dunno if anyone heard the play / radio drama "The Fund" on Rte Radio 1 last night, well worth a listen on the player

It's basically about a guy called Davison Budhoo who resigned from the IMF in 1988 having worked as a fund manager with the IMF when they overestimated the Relative Labour Unit Cost (essentially a measure of competitiveness of labour costs) to impose a program on Trinidad & Tobago back in the 80s.

Not much details about him online but this covers most of what was in the play:

http://www.thirdworldtraveler.com/IMF_WB/Budhoo_IMF.html

I thought the bit about privatising public assets in particular resonates with the recent deal in Greece

Interesting read that.

Tells you all you need to know about Reagan and Thatcher.

I see the PBOC devalued the Yuan last night. That is a complete reversal of policy up to now.

The experts are saying Yellen won't be able to start raising interest rates soon as she had promised.

And today they raised it again......

http://www.rte.ie/news/business/2015/0814/721151-china-halts-slide-in-yuans-value-after-2-drop/

[muppet]

http://www.bbc.com/news/world-europe-34007859

Tspiras calls a General Election 7 months after he was elected on the back of an anti-austerity campaign, which he tore up.

How do posters think he will get on? 

[macdanger2]

Is he going to contest the election? If so, under what stance?

[muppet]

Is he going to contest the election? If so, under what stance?

I think he has discovered that the only thing he is good at is elections.

He won in January on an anti-austerity ticket, which he tore up.

He ran a snap referendum on a NO DEAL to the EU/MF proposals, which he tore up and accepted a worse deal.

Here is what the great man himself said today:

"The political mandate of the 25 January elections has exhausted its limits and now the Greek people have to have their say," he said.
"I want to be honest with you. We did not achieve the agreement we expected before the January elections."
Mr Tsipras said he would seek the Greek people's approval to continue his government's programme.

He likes his mandates. Even if he completely ignores them.