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Old 07-24-2015, 01:51 PM   #641
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With some luck spotlight moves on, making some room for deflating egos. And then Greece will get more debt relief. So yes, can seems to forcefully kicked down the proverbial road once more.

Unclear what the next deadline is (and maybe for the best)
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Old 07-24-2015, 02:26 PM   #642
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So where is Greece now?
It's still on the southern tip of the Balkan peninsula.
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Old 07-24-2015, 06:03 PM   #643
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Well if the Greece economy contracts further, they won't be able to meet whatever debt payment schedule they come up with now.

A lot of the things which the creditors imposed are going to increase the prices of tourism in Greece, e.g. higher VAT for hotels and restaurants.

Then of course higher taxes to the residents and cuts in pensions and jobs, which could reduce consumer spending even further.

So we could be back to the crisis in a few years.
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Old 07-26-2015, 08:50 AM   #644
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So we could will be back to the crisis in a few years.
FIFY - There should be no debate about this statement
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Old 07-26-2015, 12:03 PM   #645
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So where is Greece now?
East of Italy, west of Turkey, south of Bulgaria and the Balkans. However this area is earthquake prone, so this is subject to change.

Ha
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Old 07-28-2015, 10:23 AM   #646
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Well if the Greece economy contracts further, they won't be able to meet whatever debt payment schedule they come up with now.

A lot of the things which the creditors imposed are going to increase the prices of tourism in Greece, e.g. higher VAT for hotels and restaurants.

Then of course higher taxes to the residents and cuts in pensions and jobs, which could reduce consumer spending even further.

So we could be back to the crisis in a few years.
Yet, there seems to be no justification for investing in Greece with the hope of the investment being profitable. While pumping money into some start-ups to get them through the early years can prove to be very profitable in the long run, I don't think Greece is a start-up business that will ever be profitable regardless of initial support.

Investment and deficit spending is right for some situations. Austerity and living within your means is right for others.

If you had a chance to pool personal money with others to loan Greece, would you do it? Do you think loaning them money would be a good investment for you to make using your own funds?
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Old 07-28-2015, 10:38 AM   #647
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If you had a chance to pool personal money with others to help Greece, would you do it? Do you think loaning them money would be a good investment for you to make using your own funds?
For the Europeans, the situation is somewhat complicated. If Greece spirals down economically, it has all kinds of security implications for them (unimpeded immigrant flows, a way for Russia to cause damage/gain leverage, etc). It would be like having a neighbor with a wreck of a house--you've offered advice and given him money to buy a mower and pump the overflowing septic tank that is dumping into your yard, but he's spent the money on a big screen TV and the ponies. Now he wants more, and knows what has worked in the past.
"But if I don't have money to buy a suit, I won't be able to get a job and fix the house."
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Old 07-28-2015, 12:57 PM   #648
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For the Europeans, the situation is somewhat complicated. If Greece spirals down economically, it has all kinds of security implications for them (unimpeded immigrant flows, a way for Russia to cause damage/gain leverage, etc). It would be like having a neighbor with a wreck of a house--you've offered advice and given him money to buy a mower and pump the overflowing septic tank that is dumping into your yard, but he's spent the money on a big screen TV and the ponies. Now he wants more, and knows what has worked in the past.
"But if I don't have money to buy a suit, I won't be able to get a job and fix the house."
A good capitalistic solution is to foreclose, then sell the naming rights to the highest bidder. "Welcome to the Verizon Wireless Acropolis. While here, be sure to visit the Copenhagen-Santorini and Tide-Mykonos Islands..."
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Old 07-28-2015, 03:42 PM   #649
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A good capitalistic solution is to foreclose, then sell the naming rights to the highest bidder. "Welcome to the Verizon Wireless Acropolis. While here, be sure to visit the Copenhagen-Santorini and Tide-Mykonos Islands..."
Or if you don't pay taxes in Europe, let misery fester, and enjoy long cheap stays in Zorbas resort with the finest Ouzo cheap euros can buy?
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Old 07-28-2015, 10:38 PM   #650
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Yet, there seems to be no justification for investing in Greece with the hope of the investment being profitable. While pumping money into some start-ups to get them through the early years can prove to be very profitable in the long run, I don't think Greece is a start-up business that will ever be profitable regardless of initial support.

Investment and deficit spending is right for some situations. Austerity and living within your means is right for others.

If you had a chance to pool personal money with others to loan Greece, would you do it? Do you think loaning them money would be a good investment for you to make using your own funds?


I read an article a week or so ago and they said that thousands of companies have gone to Bulgaria where it is much easier to do business...

So, if they do not improve the business environment, they will not fix their problem....
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