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alexw

1 Million Protesting In Greece

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As stated in title. 50K were expected but currently ~1 million on the streets of athens protesting. About 10% of the population

Livestream -

http://www.livestream.com/stopcarteltvgr

Those frigates will really come in handy in putting down the unrest. Maybe for another couple of billion the French could put some wheels on them.

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News outlets say 100,000 only. Less than the protests last month I think.

Not sure who to believe but the webcams all show empty streets....

Webcams are of the central square outside their parliament. couple thousand police went in and emptied it. Protestors are apparently gathering in numbers outside it.

Edited by alexw

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The EU should be giving them money to strike. :ph34r:

Don't you mean, "The EU have given them loads of money and they are now on strike" ?

The most amusing piece of news is that Lord Wolfson CEO of Next is offering £250,000 to any economist to come up with 'an exit plan for debt-laden countries to leave the eurozone to protect the continent's economies'.

http://uk.finance.yahoo.com/news/Prize-Offered-For-Eurozone-skynews-849586435.html;_ylt=ApZZVVRrGxKKJ_ty1UBjlK7Sr7FG;_ylu=X3oDMTE4bzBhaHM1BHBvcwMzBHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNwcml6ZW9mZmVyZWQ-?x=0

It is just perhaps worth noting that NO economist has come forward with the answer to this problem since 2008. So why would anyone have an answer now that was not apparent before? Easy...there is no simple answer. Leaving the Euro connotes default, haircuts, bank insolvencies and sovereign debt problems. In fact all the problems we are aware of and will not go away.....debts so high they cannot be paid, no growth/recession and in the case of Greece right now, debt fuelled deflation and an austerity which can only be halted by leaving the Euro and allowing the Drachma to devalue.

The only resolution is painful asset price deflation and haircuts all round. Best put up interest rates now, stop ripping off saversand stop pretending homes are worth twice what they were in 1970. Let's get on with it instead of pretending we can manipulate and borrow our way out of this debt fuelled asset bubble. We can't. It is all beyond Keynesian stimulus. We have no growth here because the policy has failed. No more borowing will work. QE2 will have no useful effect and only add to inflation. QE1 DID NOT WORK - If it had then we would not be having this conversation would we?

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Doable, if they leave the euro and default.

Is it? They wouldn't have to pay debt interest, but the previous levels of spending (retiring at 52 etc) are surely unsustainable.

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  • 284 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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