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Sancho Panza

Greece Needs Another €10 Billion;youth Unemployment 57%

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Mish

'The Greek economy is in total shambles. Unemployment is 26.9% and youth unemployment is 57.5%.

Der Spiegel now reports Greece on the Brink: Athens May Need 10 Billion More

According to a report by German daily Süddeutsche Zeitung, the beleaguered country needs another massive influx of money if it is to avoid insolvency. The paper cites an unnamed official at the European Commission as saying that the "financial gap" could be as large as €10 billion.

The AP reports Greece Bans Protests During Schäuble Visit

The Greek police has banned public protests in central Athens for 11 hours on Thursday, when German Finance Minister Wolfgang Schaeuble will visit, a decision the left-wing opposition party described as "fascist and undemocratic."'

The Guardian covers the rise of the Greek far right in an article dated 1 June 2013.

'Amid a dramatic surge in attacks on immigrants blamed on the neo-Nazis, the debt-stricken country's ruling alliance has come under unprecedented pressure to crack down on racially motivated crimes.

"It is wrong to believe that they are an ephemeral phenomenon," said Professor Dimitris Kerides, who teaches political science at Athens' Panteion University. "They are not only a product of this country's economic crisis. There is something sick in Greek society that Golden Dawn expresses," he added, referring to the rise in "Greek-only" blood banks and food rallies organised by the extremists. "They are here to stay. And as of 2014 they are going to be everywhere, with access to state resources because, for sure, they will win seats in municipal elections and, in some towns, place mayors."'

Election time in 2014 will be the money moment.Golden dawn will be far more dangerous if they are able to source money for their 'grass roots' organisers through Municipal budgets.

Greece should just default.I can't see that it has any other choice if it wants to avoid a severe social dislocation.I realise that it seems overly doom mongerish but that many young people with that much time on their hands and that little money is never a good thing.I've always liked that quote from George Santayana,

"Those who cannot remember the past are condemned to repeat it".

European history has some relevant examples of economic servitude not working out for the better.Whilst it's morally right to repay a debt,it's also morally wrong to let someone get into debt that they can never pay back.

Enough moralising for this morning.

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'The Greek economy is in total shambles. Unemployment is 26.9% and youth unemployment is 57.5%.'

I was watching a BBC Documentary on the failing health care system in Greece a few days ago.

I'm sure there were a couple of cases on there of guys that had fallen out of the benefit system altogether. They had zero income and lived on charity.

I bet they and many more like them are not counted in the official unemployment statistics. So what is the true unemployment figure? It's frighting.

Isn't it fascinating that the Germans, with their history, are the prime mover in turning Greece into a fascist state. You couldn't make it up. What a fecking mess*.

[*coming to a county near you soon] :)

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I was watching a BBC Documentary on the failing health care system in Greece a few days ago.

I'm sure there were a couple of cases on there of guys that had fallen out of the benefit system altogether. They had zero income and lived on charity.

I bet they and many more like them are not counted in the official unemployment statistics. So what is the true unemployment figure? It's frighting.

Isn't it fascinating that the Germans, with their history, are the prime mover in turning Greece into a fascist state. You couldn't make it up. What a fecking mess*.

[*coming to a county near you soon] :)

German Bankers you mean.

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German Bankers you mean.

+1

I doubt that Hans Kartoffel-Kopf [1], sat in his VW Polo on the way to work, was in on this plan. I doubt that he even gave much thought to Greece, outside of it being a nice holiday destination.

[1] Thanks, Google Translate!

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Greece should just default.

If they did some German and French banks would die- hence the 'bailouts' of Greece- most of which is never seen by the Greeks because it's recycled back to those same French and German banks.

This was never about helping the Greek people- it was always about preserving debt saturated banks.

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Isn't it fascinating that the Germans, with their history, are the prime mover in turning Greece into a fascist state. You couldn't make it up.

Yes indeed,it's the striking irony of the situation.

Ponder that one of the underlying motives for the creation of the EU was that 'there was a desire to ensure it(WW2) could never happen again,' .

Edited by Sancho Panza

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If they did some German and French banks would die- hence the 'bailouts' of Greece- most of which is never seen by the Greeks because it's recycled back to those same French and German banks.

This was never about helping the Greek people- it was always about preserving debt saturated banks.

Quite,so the choice is fascist Greek government or an end to the banking/pension ponzi.Looking at history,I think we should 'follow the money'.

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EUR 10 bn wouldn't even touch the sides

Iceland is the template to follow for Greece and, even if that route was chosen, there is still a massive downward shift in living standards needed for the country to get anywhere close to living within its means

tough to see it ending without a big mess

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I was watching a BBC Documentary on the failing health care system in Greece a few days ago.

I'm sure there were a couple of cases on there of guys that had fallen out of the benefit system altogether. They had zero income and lived on charity.

I bet they and many more like them are not counted in the official unemployment statistics. So what is the true unemployment figure? It's frighting.

Isn't it fascinating that the Germans, with their history, are the prime mover in turning Greece into a fascist state. You couldn't make it up. What a fecking mess*.

[*coming to a county near you soon] :)

After Greece defaults and they are proper poor, ie starving, watch the jack boots go on and the gloves come off, to be repeated to every nation that has got into "fantastic" debts, The Germans have so far prevented it, at huge cost and little thanks.

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Mish

'The Greek economy is in total shambles. Unemployment is 26.9% and youth unemployment is 57.5%.

Der Spiegel now reports Greece on the Brink: Athens May Need 10 Billion More

According to a report by German daily Süddeutsche Zeitung, the beleaguered country needs another massive influx of money if it is to avoid insolvency. The paper cites an unnamed official at the European Commission as saying that the "financial gap" could be as large as €10 billion.

The AP reports Greece Bans Protests During Schäuble Visit

The Greek police has banned public protests in central Athens for 11 hours on Thursday, when German Finance Minister Wolfgang Schaeuble will visit, a decision the left-wing opposition party described as "fascist and undemocratic."'

The Guardian covers the rise of the Greek far right in an article dated 1 June 2013.

'Amid a dramatic surge in attacks on immigrants blamed on the neo-Nazis, the debt-stricken country's ruling alliance has come under unprecedented pressure to crack down on racially motivated crimes.

"It is wrong to believe that they are an ephemeral phenomenon," said Professor Dimitris Kerides, who teaches political science at Athens' Panteion University. "They are not only a product of this country's economic crisis. There is something sick in Greek society that Golden Dawn expresses," he added, referring to the rise in "Greek-only" blood banks and food rallies organised by the extremists. "They are here to stay. And as of 2014 they are going to be everywhere, with access to state resources because, for sure, they will win seats in municipal elections and, in some towns, place mayors."'

Election time in 2014 will be the money moment.Golden dawn will be far more dangerous if they are able to source money for their 'grass roots' organisers through Municipal budgets.

Greece should just default.I can't see that it has any other choice if it wants to avoid a severe social dislocation.I realise that it seems overly doom mongerish but that many young people with that much time on their hands and that little money is never a good thing.I've always liked that quote from George Santayana,

"Those who cannot remember the past are condemned to repeat it".

European history has some relevant examples of economic servitude not working out for the better.Whilst it's morally right to repay a debt,it's also morally wrong to let someone get into debt that they can never pay back.

Enough moralising for this morning.

golden dawn are but just one of the "malcontents" to appear in europe.

this is extremely dangerous stuff,and as farage pointed out, this way lies fascism if not carefully controlled, and if those in power do not listen (given their general state of arrogance they probably will not)

... it's not the external bogeyman(which is partially legitimate) that is doing the damage.

this really will be swinging from lampposts time for a lot of those in leadership....who let the bogeyman in??????

greece are really gunning for germany now...and as stated before, I expect russia will be throwing their tuppence worth in with the greeks.

Edited by oracle

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Mish

'The Greek economy is in total shambles. Unemployment is 26.9% and youth unemployment is 57.5%.

Der Spiegel now reports Greece on the Brink: Athens May Need 10 Billion More

According to a report by German daily Süddeutsche Zeitung, the beleaguered country needs another massive influx of money if it is to avoid insolvency. The paper cites an unnamed official at the European Commission as saying that the "financial gap" could be as large as €10 billion.

The AP reports Greece Bans Protests During Schäuble Visit

The Greek police has banned public protests in central Athens for 11 hours on Thursday, when German Finance Minister Wolfgang Schaeuble will visit, a decision the left-wing opposition party described as "fascist and undemocratic."'

The Guardian covers the rise of the Greek far right in an article dated 1 June 2013.

'Amid a dramatic surge in attacks on immigrants blamed on the neo-Nazis, the debt-stricken country's ruling alliance has come under unprecedented pressure to crack down on racially motivated crimes.

"It is wrong to believe that they are an ephemeral phenomenon," said Professor Dimitris Kerides, who teaches political science at Athens' Panteion University. "They are not only a product of this country's economic crisis. There is something sick in Greek society that Golden Dawn expresses," he added, referring to the rise in "Greek-only" blood banks and food rallies organised by the extremists. "They are here to stay. And as of 2014 they are going to be everywhere, with access to state resources because, for sure, they will win seats in municipal elections and, in some towns, place mayors."'

Election time in 2014 will be the money moment.Golden dawn will be far more dangerous if they are able to source money for their 'grass roots' organisers through Municipal budgets.

Greece should just default.I can't see that it has any other choice if it wants to avoid a severe social dislocation.I realise that it seems overly doom mongerish but that many young people with that much time on their hands and that little money is never a good thing.I've always liked that quote from George Santayana,

"Those who cannot remember the past are condemned to repeat it".

European history has some relevant examples of economic servitude not working out for the better.Whilst it's morally right to repay a debt,it's also morally wrong to let someone get into debt that they can never pay back.

Enough moralising for this morning.

golden dawn are but just one of the "malcontents" to appear in europe.

this is extremely dangerous stuff,and as farage pointed out, this way lies fascism if not carefully controlled, and if those in power do not listen (given their general state of arrogance they probably will not)

... it's not the external bogeyman(which is partially legitimate) that is doing the damage.

this really will be swinging from lampposts time for a lot of those in leadership....who let the bogeyman in??????

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When Greece moved to join the Euro, I am in no doubt that Germany, France and other nations knew full well that the Greek's claims about meeting the entry standards were a fraudulent fiction. They were allowed to join because Germany and France wanted the European project to continue at any cost. They wilfully ignored what they knew.

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When Greece moved to join the Euro, I am in no doubt that Germany, France and other nations knew full well that the Greek's claims about meeting the entry standards were a fraudulent fiction. They were allowed to join because Germany and France wanted the European project to continue at any cost. They wilfully ignored what they knew.

Well, yeah, because the consequences would be someone elses problem.

A bit like sorting out who is going to pay for all the Euro shennanigens is someone else's problem for the current governments.

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  • 238 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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