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Greek Leaders Fail To Agree As Imf Deadline Looms

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http://www.bbc.co.uk/news/business-13577853

Greek leaders meeting in Athens have failed to agree on Prime Minister George Papandreou's new austerity plan.

Conservative leader Antonis Samaras rejected the measures, saying they would "flatten the Greek economy and destroy Greek society".

Mr Papandreou, a Socialist, had been trying to secure cross-party agreement for further cuts.

The chairman of the eurozone finance ministers has warned the IMF may not extend further bail-out payments.

Luxembourg Prime Minister Jean-Claude Juncker said IMF rules might stop it paying because Greece could not guarantee its solvency for the next year.

We appear to be getting closer to the end game. Will the Greeks tell the creditors to go feck themselves or will they capitulate and pay. If Greece does default will the other PIIGS follow?

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Announcement timed perfectly so not to upset the markets!!

Is there a public holiday in Europe on Monday as well as the UK? Are the other major financial centres markets open?

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Is there a public holiday in Europe on Monday as well as the UK?

There is certainly one in the US.

Possibly more brinkmanship than to avoid spooking the markets. Greece have just made noises implying that they will tell Merkel, the EU, the ECB and the IMF to collectively perform an impractical act upon themselves, but with three days' grace (in Britain and the US at least) before the markets have a chance to do their worst. Is this really an attempt at blackmail, as in "Listen, Angie, old chap, you've got three days to come up with another few tens of billions, or that's your pet project down the gurgler"?

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+1

Bored...

We get a good riot and start saying to ourselves "At last this is it!" and then the crowd disperses and it's back to the usual dry talk about bailouts for six months. When is the Euro going to break up so I can go on holiday on the cheap?

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We get a good riot and start saying to ourselves "At last this is it!" and then the crowd disperses and it's back to the usual dry talk about bailouts for six months. When is the Euro going to break up so I can go on holiday on the cheap?

kind of agree, but this is not the public rejecting the package, it's the officials (the same ones who don't give a ****** what you say).

are they scared of the (growing) reaction now?

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kind of agree, but this is not the public rejecting the package, it's the officials (the same ones who don't give a ****** what you say).

are they scared of the (growing) reaction now?

Personally, I'm a little suspicious of Samaras. He was the one who sunk the Mitsotakis government in the early 90s, when Mitsotakis was saying that Greece faced future debt problems if public spending wasn't tackled. Samaras left the party forcing Mitsotakis into an election, which he lost.

But, that said, he is the leader of the opposition, in a country where the ruling party is facing a lot of public protest. The risk to the EU is that a minor party full of hand-knitting commys or gun-totting fascists takes power. It might be hard to deal with such a rabble and the situation would quickly descend into chaos.

Whichever way you spin it, Greek default would spell the beginning of the end for the European project and somehow I don't see that happening.

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Will the Greeks tell the creditors to go feck themselves

This is exactly what they should do. Put two fingers up to the suicide banker occupation and the attempts by the IMF/EU to asset strip the country.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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