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Greece Crisis: Commissioners 'fear Future Of Eurozone'

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http://www.bbc.co.uk/news/business-13781390

EU commissioners have a "profound sense of foreboding" about Greece and the future of the eurozone, a leaked account of a meeting has suggested.

The account, seen by BBC News, said this was in reaction to the "damning failure" of eurozone ministers to agree a new bail-out for Greece last night.

It was written by an official who attended Wednesday's gathering of commissioners in Brussels.

The author warned that the markets would now "smell blood".

The European Commission said it would not comment "on anonymous interpretations of meetings".

The document said that the planned second Greek financial rescue package on top of last year's 110bn-euro (£161bn; £98bn) bail-out would dominate the forthcoming European Council meetings next week.

It added that any default on Greek government debt - as espoused by Germany - would leave the Greek banks insolvent and "threaten the viability of the ECB [European Central Bank] itself" which owns 49bn euros of Greek bonds.

It would appear that the EU elites are starting to realise they can't sweep this under the carpet for much long and TSHTF on their watch.

Although you've got to admire their determination that they can solve this by throwing even more debt at Greece. The only solution is default and any future funding based on the Greeks having to run a balanced budget perpetually.

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http://www.bbc.co.uk/news/business-13781390

It would appear that the EU elites are starting to realise they can't sweep this under the carpet for much long and TSHTF on their watch.

Although you've got to admire their determination that they can solve this by throwing even more debt at Greece. The only solution is default and any future funding based on the Greeks having to run a balanced budget perpetually.

I agree and the EU need to realise that the only long term way out is to go back to making and selling real tangible things, to real people, who can pay for them with real money.

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I agree and the EU need to realise that the only long term way out is to go back to making and selling real tangible things, to real people, who can pay for them with real money.

:lol: But that would mean people actually having to work! And as the Greeks are demonstrating: that's not a welcome proposition to them!

Anyway, someone mentioned shit hitting fans...

http://www.youtube.com/watch?v=SYxvVe9y5NQ

Sounds like the Eurocrats are about to "hear about this".. B)

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http://www.bbc.co.uk/news/business-13781390

It would appear that the EU elites are starting to realise they can't sweep this under the carpet for much long and TSHTF on their watch.

Although you've got to admire their determination that they can solve this by throwing even more debt at Greece. The only solution is default and any future funding based on the Greeks having to run a balanced budget perpetually.

I think most of the elites have been "bricking it" for a long time, since the crash really, 'cause, in this crisis, there is no safe haven. None.

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Oh. I really hope so. I really hope, this is the end of the euro. Then I can in around telling everyone ' I told you so'. I said from the dot it wouldn't work without political union and not enough europeans want that!

Is anyone watching the relevant overnight markets? How are they reacting to tonights events?

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Oh. I really hope so. I really hope, this is the end of the euro. Then I can in around telling everyone ' I told you so'. I said from the dot it wouldn't work without political union and not enough europeans want that!

Is anyone watching the relevant overnight markets? How are they reacting to tonights events?

Beware that in the end the euro doesn't end up stronger and sterling even weaker.

What would you be telling people then when you go around?

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The Greek economy is based on selling sun, sand, sea and culture. These are all free and inexhaustible! The Greeks should

be coining it. How they managed to fvck this up is beyond me. :blink:

The good news is that after they've defaulted, given everyone a haircut and bombed out of the currency union, the sun, sand, sea and culture will still be there and they can pick up where they left off. ;)

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http://www.telegraph.co.uk/finance/economics/8578637/UK-may-be-forced-into-second-Greek-bail-out.html

Germany is insisting that the EFSM - to which all EU countries, including Britain contribute - is used to help Greece potentially giving the Government a €1.2bn liability to Greece's debt crisis.

A decision on the new aid for Greece will be taken at a meeting of Europe's finance ministers on Monday.

Great news that UK taxpayers will be forced to help out the greeks with money we haven't got.

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  • 311 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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