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The Neverending Greece Saga
Old 10-05-2011, 03:07 PM   #1
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The Neverending Greece Saga

All the buzz thats been going on for quite some time about Greece going backrupt is like Chinese water torture. I wish it was over and done with one way or the other. This article provides some clue of the stakeholders that will be impacted in the event they do default:

REMINDER: Here's Who Gets Crushed If Greece Goes Bust#
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Old 10-05-2011, 03:17 PM   #2
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I saw an article on TV about Greece and the country has been living beyond its means now since the second world war.
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Old 10-05-2011, 03:28 PM   #3
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I liked the time they "demanded" Germany make reparations for what went on during WWII.

Does anyone not believe they will default on their bonds? The EU needs to stop wasting money on Greece and get ready to support their banks.

The Greek unions keep striking over austerity measures. Where do they think the money will come from to pay their salaries when Greece defaults. Who in their right mind would lend Greece anything?
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Old 10-05-2011, 03:31 PM   #4
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The level of violence during some of the strikes and protests seems to be rising.

It seems that many of those people are really angry with the tax cheats and the governments inability to resolve that situation and hold them accountable. That should not come as a surprise. I would be angry about it too.

They also blame creditors... but being angry because no one will lend them more money [since they cannot pay back it back] is futile.

Greece is probably already in a depression or it will be there soon.
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Old 10-05-2011, 03:35 PM   #5
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Probably better to check in every few months or longer, just like the market. It's all played out in very slow motion.
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Old 10-05-2011, 03:46 PM   #6
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Originally Posted by chinaco View Post
The level of violence during some of the strikes and protests seems to be rising.

It seems that many of those people are really angry with the tax cheats and the governments inability to resolve that situation and hold them accountable. That should not come as a surprise. I would be angry about it too.

They also blame creditors... but being angry because no one will lend them more money [since they cannot pay back it back] is futile.

Greece is probably already in a depression or it will be there soon.
The demonstrations create opportunities for those inclined to looting and violence.

Don't forget that the tax collectors in Greece are routinely bribed and they are also going out on strike with the others.

We could see if Greece would auction themselves off to the highest bidder but I don't know if anyone would bid. They never belonged in the euro and need to get out of it. If they were a company instead of a sovereign nation, they would be sued for defrauding investors with their accounting scams.
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Old 10-05-2011, 03:58 PM   #7
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...
Don't forget that the tax collectors in Greece are routinely bribed and they are also going out on strike with the others.

...
I have read about the corruption.
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Old 10-05-2011, 06:14 PM   #8
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Greece is not the only country that has been living beyond its means since WWII. I am not sure why all the media keep mentioning the Greek debt now, as it has never been on the radar screen before.
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I saw an article on TV about Greece and the country has been living beyond its means now since the second world war.
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Old 10-05-2011, 06:34 PM   #9
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Greece is not the only country that has been living beyond its means since WWII. I am not sure why all the media keep mentioning the Greek debt now, as it has never been on the radar screen before.
Because theirs reached the tipping point first. Should serve as a cautionary tale to all the other debtor nations that they'd better get their house in order, and sooner rather than later, before they "go Greece".
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