The ECB is going to end Greece's bailout

 
More Than Mortal | d-d-d-DANK ✑ πŸ”₯πŸ”₯πŸ”₯ 🌈πŸ‘
 
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This is the way the world ends. Not with a bang but a whimper.

 
 
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Mordo | Mythic Invincible!
 
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Quote from: challengerX on June 28, 2015, 12:01:38 PM
Man it would be so great if all the banks worldwide just shut down.

YouTube


But OT, Greece is totally fucked now, isn't it?

 
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Quote from: SuperIrish on June 28, 2015, 01:06:47 PM
But OT, Greece is totally fucked now, isn't it?
It was fucked a long time ago for not paying denbts.

 
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The banks are closed today iirc

 
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This is the way the world ends. Not with a bang but a whimper.
Quote from: HEAT SEEKING GHOST OF SEX on June 28, 2015, 03:03:56 PM
Does this mean yurop will get it's denbts?
No. It means Greece will likely default and leave the Euro.

 
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This is the way the world ends. Not with a bang but a whimper.
Quote from: HEAT SEEKING GHOST OF SEX on June 28, 2015, 04:54:53 PM
Quote from: Meta Cognition on June 28, 2015, 04:26:29 PM
Quote from: HEAT SEEKING GHOST OF SEX on June 28, 2015, 03:03:56 PM
Does this mean yurop will get it's denbts?
No. It means Greece will likely default and leave the Euro.
But then who will pay denbts
Nobody. Most of the debt will probably have to be forgiven, and interest rates will skyrocket for Greece.

 
 
 
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I personally do not think Greece will leave. They have little to no hope and the Germans are going to force them to take the deal they make. There is going to be a need of huge restructuring of the Greek finances.

But although austerity is needed short term, stimulus is needed long term with a strong push in fixing the holes in the Greece tax codes. That in itself could fix some revenue shortfall. Plus tourism could perform better especially if labour cost drops. Lower cost means more visitors. That sector itself could help support Greece.

But personally i feel two things have to be dealt with. First austerity to clean some of the debt in this year, with a strong stimulus that is focused not on pensions or wellfare but on infrastructure spending. Pensions should be paid after tax laws are dealt with and revenue generstion for the government is fixed.