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

[muppet]

http://en.wikipedia.org/wiki/Streisand_effect

Will the Streisand Effect become O'Brien's Law in Ireland?

[muppet]

http://www.rte.ie/news/business/2015/0609/706871-greece-talks/

Geece moves excruciatingly closer and closer to obvliion.

Meanwhile the populism continues: http://www.businesspost.ie/#!story/Comment/Opinion/David+shapes+up+to+Goliath/id/2f65ffda-91e6-4b75-b7ee-e6932cd7d65f

Something important is happening in Belfast and Athens. Sinn Féin and Syriza are taking a stand against austerity.

I am not so sure Gerry will want to be linked to Syriza if Greece goes wallop, which could happen in the next few months.

[muppet]

http://www.bbc.com/news/world-europe-33090373

Greece's state broadcaster ERT back on air after two years

Greece's state broadcaster ERT went back on air on Thursday, two years after being closed down under austerity measures.

The radio and television channels shut in June 2013 after the then-government called it "a haven of waste".

The left-wing Syriza party made the reinstatement of ERT a key pledge in January's election, which it won.

The party said all of the more than 2,600 staff made redundant in 2013 have been offered jobs by the station.


The timing is a bit odd, to say the least.

[Hardy]

"A haven of waste." Excellent. And it's called ERT. Jumble the letters of ERT and the words of "a haven of waste".

Anyway, I gather the Greeks are buying new cars like crazy. I presume they're anticipating the resurrection of the Drachma. I hope they're buying biofuel versions.

[muppet]

"A haven of waste." Excellent. And it's called ERT. Jumble the letters of ERT and the words of "a haven of waste".

Anyway, I gather the Greeks are buying new cars like crazy. I presume they're anticipating the resurrection of the Drachma. I hope they're buying biofuel versions.

If that was Ireland, the first question you would ask is qui bono from the car buying.

It would be ironic if it were mainly German cars.

Anyway, with the new station they will be able to watch Top Gear in their tents.

[Rossfan]

http://www.bbc.com/news/world-europe-33090373

Greece's state broadcaster ERT back on air after two years

Greece's state broadcaster ERT went back on air on Thursday, two years after being closed down under austerity measures.

The radio and television channels shut in June 2013 after the then-government called it "a haven of waste".

The left-wing Syriza party made the reinstatement of ERT a key pledge in January's election, which it won.

The party said all of the more than 2,600 staff made redundant in 2013 have been offered jobs by the station.


The timing is a bit odd, to say the least.

Are they planning a coup emergency go it alone Government, abolish Parliament/Elections etc and need a propoganda tool to keep the masses "informed"??

[Denn Forever]

Should Ireland have kept our eyes open and not blinked?

[muppet]

Should Ireland have kept our eyes open and not blinked?

Definitely, but after the bank guarantee we had a poor hand, and after Honohan announced the IMF were in town, we had no hand.

[armaghniac]

IMF head back to Washington.
Get off the pot time for Greece
http://www.ft.com/intl/cms/s/0/b913c958-101f-11e5-ad5a-00144feabdc0.html

[macdanger2]

Looks like Greece are getting closer to the exit unless someone blinks. Will be interesting to see the fallout from it - the euro will surely take a bashing from it as it'll no longer be a permanent currency.

The Greeks can't end up much worse off than they have been for the past 5 years so while it might be more difficult in the short term, it might be better for them in the long run.

Heard a fella on Prime Time earlier saying that it won't have as big an effect on the economy / banking system as it would have a couple of years ago as the debt is now govt debt instead of bank debt - basically private debt has once again and on a much larger scale, become public debt......

[muppet]

http://america.aljazeera.com/opinions/2015/6/germany-is-bluffing-on-greece.html

[Denn Forever]

Will Greece leave the euro? 

Are  they being harshly  treated?  If Ireland had to tighten their  belt in  a manner being  asked  of Greece, what would Ireland have to do.  Are they protesting too much?

[From the Bunker]

If you ain't got nothing you ain't got nothing to lose as the song goes!

[muppet]

Will Greece leave the euro? 

Are  they being harshly  treated?  If Ireland had to tighten their  belt in  a manner being  asked  of Greece, what would Ireland have to do.  Are they protesting too much?

Ireland's debt was mainly bank debt that we should have let go bust, but we weren't allowed to.

It is interesting to see the head of The Greek Central Bank making statements last week that really pissed off his Government. It reminded me of Honohan shafting our Government by announcing the bailout. We now know who the Central Banks really work for, and it isn't us.

Greece's debt is mainly Government liabilities such as pensions and public service pay. They have elected a left-wing Government who promised to maintain those pensions and pay. Those who bankroll the EU (mainly Germany) have no appetite to pay for all of that and the Greeks can't afford it. Hence the impasse.

If the Greeks win, the rest of the PIGS (including us) are very likely to elect hard line left-wing governments who will promise higher pensions and pay for public servants. Thereby, ironically, sending us all straight into Greek territory.

The EU won't allow that. I suspect a little bit more of kicking the can, for a couple of more months maybe, but there is very little road left. Either the Greek Government will climb down, or fall, or else we will have the Grexit. But I think it will be one of the first two.

[muppet]

http://businessetc.thejournal.ie/interesting-facts-greece-economy-2181313-Jun2015/

Greece finally gained independence from the Ottoman Empire in 1830 after Great Britain, France, and Russia intervened to help out in the War of Greek Independence. (Fun fact: even poet Lord Byron joined in to support Greece.)
The country has spent 90 out of 196 years since then in financial crisis.
Corruption costs Greece about 8% to 10% of GDP per year.

A Brookings Institute study by Daniel Kaufmann estimated that corruption cost Greece about 8% of gross domestic product per year (some have estimated it as high as 10%). Notably, a large bulk of it involves ordinary citizens doing day-to-day activities.
"If Greece had better control of corruption — not to Swedish standards, but even at Spain's level — it would have had a smaller budget deficit by 4% of gross domestic product" on average over the past five years, Kaufmann wrote back in 2010.
A 2014 study by the European Commission said Greece was the most corrupt country in the European Union — on par with China.