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TheCountOfNowhere

The noose around Greece's neck grows

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Just now, Mine the wheatfield said:

It's alright now - we had Camoron commenting on Europe during the week, and Prince Andrew today.  

Yeah, Prince Andrew, who's never done a days work in his life, had to worry about finances, running a business, greating a business, finding work etc says...

http://www.bbc.co.uk/news/business-40296649

"However, businesses should make the most of new international opportunities, Prince Andrew said."

Thanks for the advice.

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9 minutes ago, TheCountOfNowhere said:

Yeah, Prince Andrew, who's never done a days work in his life, had to worry about finances, running a business, greating a business, finding work etc says...

http://www.bbc.co.uk/news/business-40296649

"However, businesses should make the most of new international opportunities, Prince Andrew said."

Thanks for the advice.

IIRC he did fly helicopters in the Falklands so he has done some work - although not for many years.

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4 minutes ago, iamnumerate said:

IIRC the newspapers said he did fly helicopters in the Falklands so he has done some work - although not for many years.

I'm not sure you know how propaganda works.

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6 minutes ago, iamnumerate said:

IIRC he did fly helicopters in the Falklands so he has done some work - although not for many years.

Off topic I know but have you noticed how most Royal males learn how to fly helicopters.  Presumably because its the recognised way of getting out of a city if things get nasty and the proles start to question why we have Royals in the first place.

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5 minutes ago, dougless said:

Off topic I know but have you noticed how most Royal males learn how to fly helicopters.  Presumably because its the recognised way of getting out of a city if things get nasty and the proles start to question why we have Royals in the first place.

+1

We pay to train them, they get a free helicopter and can fly between their estates ( our land ) without having to even see a poor person.

Meanwhile, they print s**te in the press saying they are "working"...and people think it's great and are happy to be forced to pay £350M to decorate one of their houses, whilst immigrants burn to death in a block of flats.

Edited by TheCountOfNowhere

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1 hour ago, TheCountOfNowhere said:

Fixing a debt crisis with more debt....

Greece gets credit lifeline, IMF joins bailout

http://uk.reuters.com/article/uk-eurozone-greece-idUKKBN1960ZX?il=0

Greece has public debt of 180% of GDP. This is because Greece was forced to convert private debt of French and German banks to public debt, an act of great wickedness.

The IMF staff have long noted that this is unsustainable, and needs to be written off, it is a great dishonour to Christine Lagarde that she has ignored the views of her staffers to support the political and banking elite of Europe.

The very, very interesting thing is that Greece has managed, by extraordinary efforts, to move their primary government budget (ie. ignoring debt payments) in to surplus; they have managed to bring tax and spending into line.

This means that they can, if they want, default on their public debt; they won't need euros from the ECB to run the government.

If Varoufakis was still there, I am sure they would default immediately, whether Tsipras has the balls I am not sure.

But given the thoroughly evil way that the EU and IMF have treated Greece, default is the morally and economically correct thing to do.

Either way, Greece is certainly going to threaten default if the debt is not cut back, and the next stage of the EU debt crisis will be very entertaining.

The whole point of this week's deal is to move the crisis to 2018, after the German elections in 2017.

If Tspiras had any guts he would avoid this gambit by threatening default immediately, and putting Merkel's majority at risk.

Either way, get the popcorn ready.

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1 hour ago, TheCountOfNowhere said:

+1

We pay to train them, they get a free helicopter and can fly between their estates ( our land ) without having to even see a poor person.

Meanwhile, they print s**te in the press saying they are "working"...and people think it's great and are happy to be forced to pay £350M to decorate one of their houses, whilst immigrants burn to death in a block of flats.

 

There ain't half some bullocks quoted on some of these threads.

Suppose it never occurred to any of you that pilots are required to have a 'fixed wing' licence before they move on to 'rotary wing'?

 

Anyway back to Greece..... The EU don't want any distractions ahead or during the opening phase of the Brexit talks so the can has been kicked yet again.

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1 hour ago, TheCountOfNowhere said:

Yeah, Prince Andrew, who's never done a days work in his life, had to worry about finances, running a business, greating a business, finding work etc says...

http://www.bbc.co.uk/news/business-40296649

"However, businesses should make the most of new international opportunities, Prince Andrew said."

Thanks for the advice.

Next we'll be asking Larry the Downing Street cat for his comment on the matter.

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39 minutes ago, kagiso said:

The very, very interesting thing is that Greece has managed, by extraordinary efforts, to move their primary government budget (ie. ignoring debt payments) in to surplus; they have managed to bring tax and spending into line.

This means that they can, if they want, default on their public debt; they won't need euros from the ECB to run the government.

If Varoufakis was still there, I am sure they would default immediately, whether Tsipras has the balls I am not sure.

.....

If Tspiras had any guts he would avoid this gambit by threatening default immediately, and putting Merkel's majority at risk.

Any default would see the ECB and IMF walk away from Greece. Wealth in the country would be vaporised as all the banks would go under, the country would have to return to the drachma, there would be no foreign currency to pay for vital imports like oil and medicine. Why would you say Varoufakis would endorse such an approach? He himself said very recently that leaving the Euro would be the worst thing that Greece could do.

Also, the notion that threats work against the EU is laughable. We already saw how the Greeks threatened to push the nuclear button, all that did was strengthen resolve within the Eurozone against Greece and force it into worse terms. We ourselves have tried to threaten the EU over Brexit with talks of not paying our exit bill, or by becoming a tax haven. Unsurprisingly, the reaction has been fierce. The EU is generally a very weak institution, that is until it's threatened and you see members coming together strongly.

In my opinion, a Greece default is not necessary. I think if they remain in the EU and the agree to the terms that have been laid out, they will eventually be bailed out in a politically sensitive way for Germany. The thing is, they have to follow the rules and show commitment for that to happen.

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