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LMAO! New word has been coined.. people are so fed up and tired about this whole Greek situation that the term of the moment now is "Gretigue"... fatigue of all thinks Greek
oh wow, guess I may be wrong this time around... IMF just rejected latest bailout proposal from Greece. WTF?? Are these people crazy? First they say the proposals look good then they reject it.
Greece has already said the pension cuts originally demanded are "do not cross" red lines for Greece, why keep harping on them - that deal isn't going to happen. Syriza is going to be dead as a party if they agree to that and they know it. They will NEVER agree to it.
Reading the live feed from theguardian... they have posted a document showing the entire passage of the counter proposal has been struck down by the creditors in RED ink as unacceptable...back to the drawing board? I don't think there is anything else left to negotiate here.
This was going to happen eventually. The important thing was to move the risk from private banks, to governments, AKA the IMF for example. The IMF even knows that the levels of austerity were destroying Greece, but they're refusing to back down on that as the goal was to get as much money out of Greece as possible, and to protect private companies.
They've kicked the can far enough down the road that when it blows up private companies won't fall. Instead the taxpayers of Europe will absorb the hit.
Interesting times. But predictable. The only thing that will save Greece now is if a big enough private company is over invested enough to convince folks to kick the can just a tiny bit further.
Hopefully the greeks are already printing up new Drachma notes, just need to figure out what to back it up with.
Taxes.
In order to even think of introducing a new sovereign currency it has to be laid down that from day one all central taxes have to be paid in the new currency. This at least gives the new currency some baseline of value and demand.
With the banks being closed for a week, how will people be able to buy things with debit and credit cards? Will those still work? Or will they accept checks (or be forced to accept them)? And how will it affect mortgage and rent payments, especially if it's automatic draft.
Just curious how all of this is going to go down for them this week.
Horrible situation... they have a daily limit of 60 euro but only if atm has cash, latest report is that most atms in athens are dry. Those who did not get money out are probably screwed for the moment at least!
I wonder how that news will go over with the public :S If I was "locked" out of my bank account, I would transfer the money out, and close it.
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