[andygivenup]

geezer466, on 11 April 2012 - 05:35 PM, said:

Haven't all the major parties likely to win seats at this election signed up to the EU shitestorm bailout conditions anyway?

What's the chances of an anti EU candidate emerging and being swept to power on a exit and default message?

Umm NO.

[Police]

geezer466, on 11 April 2012 - 05:35 PM, said:

What's the chances of an anti EU candidate emerging and being swept to power on a exit and default message?

None. On the whole the greeks want to stay in the Euro. They just don't want the austerity.

[Deckard]

Police, on 11 April 2012 - 06:21 PM, said:

None. On the whole the greeks want to stay in the Euro. They just don't want the austerity.

Unfortunately for them, frau Merkel has other plans.

This post has been edited by Deckard: 11 April 2012 - 06:32 PM

[yellerkat]

They have 3 choices:

• A long painful restructuring under the Euro
  
• Adopting the New Drachma and closing the structural deficit overnight
  
• Adopting the New Drachma, not closing the structural deficit and undergoing hyperinflation overnight.

Discovering the real size of the Greek economy is not going to be pleasant under any option.

[frederico]

yellerkat, on 11 April 2012 - 06:36 PM, said:

They have 3 choices:

• A long painful restructuring under the Euro
  
• Adopting the New Drachma and closing the structural deficit overnight
  
• Adopting the New Drachma, not closing the structural deficit and undergoing hyperinflation overnight.

Discovering the real size of the Greek economy is not going to be pleasant under any option.

Spot on

The big society is what they need

[Voice of Reason]

yellerkat, on 11 April 2012 - 06:36 PM, said:

They have 3 choices:

• A long painful restructuring under the Euro
  
• Adopting the New Drachma and closing the structural deficit overnight
  
• Adopting the New Drachma, not closing the structural deficit and undergoing hyperinflation overnight.

Discovering the real size of the Greek economy is not going to be pleasant under any option.

I only know of Greece what I've read online from various sources so I could be wide of the mark here. However I would be inclined to think framing their options in an economic context would be a mistake. If you stopped the average Joe in the UK and asked about Britain's economic options would you get a sensible considered response? Why should the average Sergios be any different?

Therefore perhaps they actually have 2 choices:

Be told what to do by foreigners and their puppets in the Greek government.
Elect true Greek patriots who will tear up the agreements and give Greece back it's independence and freedom.

In that context, the election will be at the very least interesting...

[andygivenup]

Voice of Reason, on 11 April 2012 - 07:54 PM, said:

I only know of Greece what I've read online from various sources so I could be wide of the mark here. However I would be inclined to think framing their options in an economic context would be a mistake. If you stopped the average Joe in the UK and asked about Britain's economic options would you get a sensible considered response? Why should the average Sergios be any different?

Therefore perhaps they actually have 2 choices:

Be told what to do by foreigners and their puppets in the Greek government.
Elect true Greek patriots who will tear up the agreements and give Greece back it's independence and freedom.

In that context, the election will be at the very least interesting...

Nothing will change Greek people decide feck all, nothing will change Euro is here to stay. Save your popcorn very long way to go.

[Voice of Reason]

andygivenup, on 11 April 2012 - 08:17 PM, said:

Nothing will change Greek people decide feck all, nothing will change Euro is here to stay. Save your popcorn very long way to go.

I'm sure Marie Antoinette would have said "Les French people decidez feck all" too until she was strapped to a guillotine. People can make whatever argument they want about political power, election fraud, bankers pulling the strings etc and they may all be somewhat valid but if you have millions of Greeks in the street tearing their country up all that counts for, well, feck all...

[okaycuckoo]

Irish referendum on fiscal treaty 3 weeks later:

http://www.bbc.co.uk...europe-17528290

Not expecting fireworks.

[RufflesTheGuineaPig]

geezer466, on 11 April 2012 - 05:35 PM, said:

Haven't all the major parties likely to win seats at this election signed up to the EU shitestorm bailout conditions anyway?

Yes they have. It's not legally binding of course. They are politicians after all.

geezer466, on 11 April 2012 - 05:35 PM, said:

What's the chances of an anti EU candidate emerging and being swept to power on a exit and default message?

I suspect by election day, they will all have promised to pull out and default.

okaycuckoo, on 11 April 2012 - 10:02 PM, said:

Irish referendum on fiscal treaty 3 weeks later:

http://www.bbc.co.uk...europe-17528290

Not expecting fireworks.

Implosions go inwards... rarely that much of a bang. Stuff just disappears.

[beardiebloke]

I need to learn to do something useful that I can trade for fruit and veg when things go really bad...

BBC: Greek barter economy

[Monkey]

but what's the chances of no one single party getting in, having to broker a coalition, that takes weeks. The every decission takes even longer, pissing off brussels and the ecb threaten actually stop paying the greeks?

[geezer466]

Monkey, on 12 April 2012 - 07:12 AM, said:

but what's the chances of no one single party getting in, having to broker a coalition, that takes weeks. The every decission takes even longer, pissing off brussels and the ecb threaten actually stop paying the greeks?

None, they threaten and bluster but they don't mean it. The interested parties will bend over backwards to ensure Greece meets any so called criteria to keep the funds rolling in.

Not to do so risks derailment of the whole experiment.

[normdiploom]

From the popbitch mailout...

Angela Merkel arrives at passport control at Athens Airport.
"Nationality?" asks the Immigration officer.
"German," she replies.
"Occupation?" he asks.
"No, just visiting for a few days."

[timebandit]

Found this thread on page 8, requires an update.

Quote

The European Investment Bank is hedging itself against a Greek exit from the eurozone by inserting drachma clauses in the loan deals it signs with Greek enterprises.

The first such deal was two weeks ago when the management of Public Power Corporation (PPC), the country’s electricity giant began negotiating with the EIB about a 70-million-euro loan to fund its new natural-gas-powered plant at Megalopoli in the Peloponnese.

The EIB proposed for the first time two new terms, one of them being the possible renegotiation of the agreement should Greece leave the eurozone or should the common currency area break up. The second was placing the agreement under British law, in case of any irregularities in the payback process.

PPC referred the issue to the Finance Ministry, which undertook negotiations with the EIB as it realized that those terms did not just concern PPC but also the general credit policy of the bank toward Greece.

EIB sources suggest that the currency-change clause will be included in all contracts with countries applying economic stability programs (Greece, Portugal and Ireland) and gradually expand to all eurozone countries.
Sources suggest that the bank has made it clear to the political leadership of the Finance Ministry that the whole of the new contracts for loans to Greek companies will have the so-called “drachma clauses” and will be under British law.

The EIB has committed itself to issuing loans of 600 million euros up to January 2013 to the Greek market, to climb to 1.4 billion euros by the end of 2015.