Still think Greece will default?

Do you think Greece is still likely to default?

  • Yes

    Votes: 41 73.2%
  • No

    Votes: 15 26.8%

  • Total voters
    56
  • Poll closed .

feargach

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So, the €500bn fund has been announced.

World governments voice support for EU moves - MarketWatch

Those who predicted a Greek default, do you stand by that stance?

On the other side were those of us who knew that sooner or later, notwithstanding the racist grandstanding of Merkel, the EU powers would band together sooner or later to prevent the wolf packs from devouring the Euro.

I'll admit that I was surprised that Merkel dithered for so long, I underestimated how much money the German government was prepared to waste in order to satisfy their disdain for olive-skinned people. But even die-hard racists have a survival instinct, and they buckled after wasting about €70bn through pointless dithering in a failed attempt to win a regional election. Boldly done, Angela!

This should be a thread to examine the predictions of those who swore Greece would be defaulting. When I get a prediction wrong, I never hear the end of it, so it's time for payback.
 


Sync

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I didn't think they'd default, but your baseless condemnation of Merkel as a racist is pretty pathetic.
 

Clanrickard

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I didn't think they'd default, but your baseless condemnation of Merkel as a racist is pretty pathetic.
+1 He has zero credibility.
 

grafter1

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Greece will still default. If this thing goes to plan their debt to GDP will be over 150%.

It's just delaying the inevitable
 

feargach

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First up, it's Oreo Livermore

http://www.politics.ie/economy/129310-bruton-lying-he-stupid.html#post2659566

He says that
"he said it was important to show solidarity and protect the long-term future of the euro."

Of course he seems oblivious to the fact that the euro immediately sank like a stone.

Then again nobody has whispered in his ear that the 10 year rate on Irish bonds jumped to 6%.

Hey Dick, 6% is higher than 5%, can you figure that out.

Who needs FF when we have idiots like this to take over.

The important thing is though that even if Greece was paying 8% it would not matter. The fact is these loans will never be repaid.

NEVER NEVER NEVER NEVER. End of story.

Everyone with half a brain knows this.
Nicely done, Oreo.

What do the people with half a brain say now?
 

feargach

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Greece will still default. If this thing goes to plan their debt to GDP will be over 150%.

It's just delaying the inevitable
Really?
 

Cassandra Syndrome

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Greece technically defaulted. This is the second wave of the collapse. The banking system technically collapsed in September 2008. Insane bailouts then have intensified the depression and now we have moved on to entire nations going bankrupt.

Now the IMF are taking control of the destruction.

Are there any clues yet to the austerity measures?
 

Cassandra Syndrome

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feargach

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Greece technically defaulted. This is the second wave of the collapse. The banking system technically collapsed in September 2008. Insane bailouts then have intensified the depression and now we have moved on to entire nations going bankrupt.

Now the IMF are taking control of the destruction.

Are there any clues yet to the austerity measures?
Yeah, and I'm technically the Emperor of Russia, using the same definition of "technically", which in this case translates as "not".
 

The Caped Cod

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So, the €500bn fund has been announced.

World governments voice support for EU moves - MarketWatch

Those who predicted a Greek default, do you stand by that stance?

On the other side were those of us who knew that sooner or later, notwithstanding the racist grandstanding of Merkel, the EU powers would band together sooner or later to prevent the wolf packs from devouring the Euro.

I'll admit that I was surprised that Merkel dithered for so long, I underestimated how much money the German government was prepared to waste in order to satisfy their disdain for olive-skinned people. But even die-hard racists have a survival instinct, and they buckled after wasting about €70bn through pointless dithering in a failed attempt to win a regional election. Boldly done, Angela!

This should be a thread to examine the predictions of those who swore Greece would be defaulting. When I get a prediction wrong, I never hear the end of it, so it's time for payback.
Yeah, wasn't Hitler German too... :rolleyes:

Well Mystic Meg, you're forgetting that had the IMF and the EU not come to it's aid, Greece would have defaulted.
 

feargach

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Yes that's my opinion and i haven't seen anything or heard anything to make me think otherwise
What kind of facts would affect your opinion?
 

grafter1

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Yeah, and I'm technically the Emperor of Russia, using the same definition of "technically", which in this case translates as "not".
What makes you so sure everything is fine now? The fundamentals haven't changed as far as i'm concerned.
 

Cassandra Syndrome

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What makes you so sure everything is fine now? The fundamentals haven't changed as far as i'm concerned.
+1

This is making it worse.
 

MPB

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The Greeks have in effect already defaulted. The EU are paying their debts.

Now the Greeks owe the EU money. Their fiscal problems still remain. So they will still default but not on the eejits that gave them the money in the first place, just on a different bunch of eejits. ( Us )
 

feargach

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Yeah, wasn't Hitler German too... :rolleyes:

Well Mystic Meg, you're forgetting that had the IMF and the EU not come to it's aid, Greece would have defaulted.
And if my grandmother had testicles, she'd be my grandfather.

We're dealing with the real world here, not fantasy planet. The EU Treaty specifically allows intervention in the case of market failure such as in this case. It was always inevitable that an intervention would happen. Some of us never lost sight of that truth.
 

smitchy2

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It is a substantially commitment to bail out the heavily indebted Eurozone countries.

The austerity measures will have to be ramped up in each of these countries but this will likely cause a couple of these countries to fall into an extended economic depression.
It is a fine balance in cutting expenditure (usually capital) and maintaining economic growth.

The markets have reacted extremely positively to the news just as they were extremely negative last week. It just emphasises the volatility in all global markets at present.
This was very inline with some of the extreme views of certain posters on this site.

Greece is still a basket case and I would have doubts that they will be able to reach any targets that they are given.

The German and French people will not be happy about bailing Greece out but they are ultimately protecting their banks which they would have to bail out if Greece did default.
 

feargach

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The Greeks have in effect already defaulted. The EU are paying their debts.

Now the Greeks owe the EU money. Their fiscal problems still remain. So they will still default but not on the eejits that gave them the money in the first place, just on a different bunch of eejits. ( Us )
You can't waffle your way out of it. Default is when a debt goes unpaid. Your creditor doesn't care if your bill is paid by you or your guarantor.

There has been no default, and anyone could have seen that, despite rightwing press campaigns, there was never going to be one.
 

meriwether

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You can't waffle your way out of it. Default is when a debt goes unpaid. Your creditor doesn't care if your bill is paid by you or your guarantor.

There has been no default, and anyone could have seen that, despite rightwing press campaigns, there was never going to be one.
There was NEVER going to be a default?

There was, without EU intervention. Otherwise, there would have been no need for intervention.

Also, your labelling of Merkel as racist has more than a hint of lunacy about it.
 


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