Greek Crisis

Can't imagine what it's like to live over there now, limited bank runs, and dim economic outlook,...
They all gathered in the streets to support the no vote, somehow I feel they'll gather in the streets again to riot and complain about their situation, which means less attractive to tourism which is one of their main draws
 
This is about to play out with Puerto Rico only the foot is on the other shoe now.  They can't devalue their way out because they are in dollars.  Will we be Germany? or fold and kick the can on down the road?
 
AW said:
Can't imagine what it's like to live over there now, limited bank runs, and dim economic outlook,...
They all gathered in the streets to support the no vote, somehow I feel they'll gather in the streets again to riot and complain about their situation, which means less attractive to tourism which is one of their main draws
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Doesn't the European Union allow anyone from Greek to move to Germany and work without a work permit? Obviously it's hard with the language barrier, but you'd think that with 25% unemployment that a lot of people would leave.
 
Yeah, that bank of Greece stock has gone up and down and up 30% from the low all within the last couple of days. 
Waiting to hear no bailout to see it plunge again...
 
lol 61% Greeks voted no to the expired bail out deal and the new bail out proposal from their government is more or less the same and perhaps even tougher. so they just wasted the money on holding a referendum (and everybody's time) and setting back their economy by 1 year with banks shut down for two weeks.
 
FYI - Eurogroup meeting ends w/ no Greece deal. They are scheduled to meet again on Sunday to discuss Greece.

 
No they haven't reached a deal.  The deal requires the reforms to be passed by Wednesday.  The package is more stringent than the deal that was on the table and rejected in the vote last weekend.

 
The referendum was only to see what the people wanted.  It is non-binding.  The bailout means the banks that lent money to Greece get to pretend they will get their money back at a later date.  If no bailout occurred, then the banks would have to actually take a loss....and why take a loss when you can keep kicking the can?......it works until it doesn't.

I think Iceland was ok after telling the banks to fuck off...Not sure if Greece would be ok. 
Iceland only has 320,000 people while greece has 11,000,000.

Those 320,000 people just went back to fishing.
 
so the Greek leaders capitulated. 61% of their voters said no to the expired bailout deal and now their leaders agreed to an even tough one.  Germans are all but making Greeks their eternal slaves.
 
The California Court Company said:
so the Greek leaders capitulated. 61% of their voters said no to the expired bailout deal and now their leaders agreed to an even tough one.  Germans are all but making Greeks their eternal slaves.
Click to expand...

Big surprise that the Greeks were going to come crawling back with their tail between their legs for more money.  Kicking the can down the road for a few more years, same old same old.  Should have sold a ton of $30 & $35 VIX calls for August last week.  Oh well.
 
The California Court Company said:
so the Greek leaders capitulated. 61% of their voters said no to the expired bailout deal and now their leaders agreed to an even tough one.  Germans are all but making Greeks their eternal slaves.
Click to expand...

Greeks are like California voters. Want to cut government spending but better not touch pensions.
 
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