Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I applaud the new PM. Austerity is a plague. It does no good.
Quote:
Banking stocks have been hammered over growing worries about default as Mr Tsipras prepares for his first meeting with eurozone officials later this week.
The PM told the first meeting of his cabinet that the coalition government would deliver "radical" change by not backing down on its anti-austerity path.
He said that while he did not wish to antagonise creditors, the Greek people had demanded a new focus and he would not seek to build up "unrealistic surpluses" to service Greece's massive public debt - funds that are a condition of its €240bn (£179bn) rescue.
Quote:
Mr Tsipras announced that pensions for low-paid public sector workers would rise and some job cuts would be reversed as part of his efforts to grow employment, with more than 25% of Greeks currently out of work.
He's basically going to fund his government spending using capital that would be reserved for paying back the bailout loans. Good luck Mr. Marxist Tsipras.....
He's basically going to fund his government spending using capital that would be reserved for paying back the bailout loans. Good luck Mr. Marxist Tsipras.....
If you think Greece is going to be able to pay back a quarter of a trillion dollars of debt, that's just crazy.
Greece HAS to default - there's just no other way out of it. Meanwhile, youth unemployment is at 60% and half the nation is living in poverty. A communist-style economy is looking really good for those folks right now...
If the folks sitting in their ivory towers in Brussels and Germany aren't scared yet, they soon will be.
And just wait until the other countries of southern Europe decide to take matters into their own hands...
It's time to load up on the popcorn, for it's gonna be an exciting picture show.
He's basically going to fund his government spending using capital that would be reserved for paying back the bailout loans. Good luck Mr. Marxist Tsipras.....
The bailout loans have also been used to fund the Greek government on an ongoing basis.
Their public sector was a big part of their economic problem. When the public sector which accounted for 28% of the work force accounts for over 50% of its GDP you know something's wrong
They shouldnt have been allowed to join, they should have left before destroying their economy via austerity. Leaving now is a bit late.
They shouldn't have joined. They cooked the books to make them look like they met the criteria to join. They should have left the Euro when the crisis began, but at that time the EU was afraid of contagion. Today they can probably ride out a Grexit.
Quote:
Germany's vice-chancellor said it was unfair of Greece to expect other states to pick up its bills
"I cannot imagine a haircut [debt reduction]," Sigmar Gabriel said.
Quote:
German warning
Mr Gabriel, who is also economy minister and leads the junior partner in Angela Merkel's coalition government, said: "Our aim must be to keep Greece in the eurozone but solidarity and fairness work both ways."
"Citizens of other euro states have a right to see that the deals linked to their acts of solidarity are upheld," he said.
"Every country in Europe has its own history and cannot separate itself from this through new elections."
He urged the Greek government to talk to its partners before going ahead with decisions such as halting the privatisation of the port of Piraeus.
"Things that Greece itself won't do cannot be shunted on to the taxpayers and employers in neighbouring states," the German Social Democrat leader said.
Quote:
The Netherlands has added its voice to that of Germany and France in insisting that Greece stick to its previous commitments.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
