[daneblazer]

Looks like it's a certainty they default. Will this be another Lehman moment and trigger a string of bad things?

[TwoWays]

Shoulda let it happen 5 years ago. Countries just dragged it out. Sometimes it's just time.

[Bostongambler]

It will play out and it will be fine.


Buy aapl

[Biff41]

The Greek PM thought he could sell a bill of goods; free pensions, union wage raises, free vacations. A large wealthy nation can get away with it for a while, not a small country relying on tourism. It may have been a mistake for Merkel not bringing the tough love sooner.

[jjgold]

I'm surprised some US states aren't in bankruptcy yet

[Dirty Sanchez]

I'm surprised some US states aren't in bankruptcy yet

Fukkin Jersey...use it as a dump target for excess munitions

[Bostongambler]

Doesn't matter states will bail out

[TheMoneyShot]

Print more money. We'll be ok.

[ACoochy]

I'm surprised some US states aren't in bankruptcy yet

They are but have rebranded the wording

[daneblazer]

You'd think they'd sell enough yogurt to be financially ok. That shit is everywhere

[El Nino]

Economy has struggled with the decline of John Stamos' popularity.

[zizoudane10]

50:50 chance.
Business as usual.
Everyone knew what would happen.
Fukk cares tbh....

[lakerboy]

As long as markets won't suffer itss all good. I heard the impact will be minimal.

[Ralphie Halves]

It's everyone out of the pool in the Forex market now. I'm not trading all week. Greece leaving would normally be no big deal (only the 9th biggest economy in the EU), but Germany has given over 100B in bailout money to try and get this right, and Greece is in no better shape even though the money is all gone. Germany will look like retards if this doesn't go through, and since they run the Euro for the most part, confidence in the Euro as a stand-alone currency will then fall pretty hard.

The Greek people can't get money out of their banks, since when you do that, a bank loses its reason for being a bank, and that would only make things worse. Cyprus not long ago had it worse than that. They couldn't get their money AND the bank just up and stole it. This has to be weighing on the minds of the Greeks right now. I feel bad for them

[SharkAA]

From what I've read, the whole Greek financial crisis, is a consequence of 3 things: corruption in government, tax evasion by the Greeks and excessive government spending. Bailout money actually went back to French and German banks, since banks in Greece are actually subsidiaries of French and German banks.
I wouldn't mind Greece going bankrupt, since we lend them 1 Bn EUR years ago and I'm aware, that Greece won't give that money back.

[zizoudane10]

Let the banks fold, let Greece give out IOUs in the meantime parallel to the Euro and I'll happily buy some cheap property there. Might be a nice little happy opportunity.

[jjgold]

Letting banks fold is the best thing you can ever do

[zizoudane10]

And people that are sorry with Greece? Gtfo....
The major failure was made when a country that has so many laughable shit going on was allowed to have the Euro in the first place. Simple as that. A country in which the people recieve pension 8 years earlier than in Germany. Pensions in Greece are 80% of the former average wage. 48% in Germany. Go figure. Yeah, poor poor pensioneers of Greece. Each and every person owns a house. But yeah, they are oh so poor. Laugh my ass off, sorry.

[Scorpion]

blame goldman sachs
http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html

[Dirty Sanchez]

Been to Greece many times...Preveza and Lefkada in particular...beautiful place and women the same But I've got to say when I was assigned to NATO my fellow Greek military brothers were the laziest fuks on earth....and when we visited Greece and visited their families it was even worse...the sense of entitled of what they should be given by the government and retire at an early age versus what we think of in the US was really a surprise to many of us

[lakerboy]

Greeks are completely useless and lazy. I went to the islands and Athens for my honeymoon. Nobody works. All they do is sit there and smoke and drink cold coffee all day and night. They have great food and wine though.

[Scorpion]

Been to Greece many times...Preveza and Lefkada in particular...beautiful place and women the same

i heard girls there are too hairy and most feel their gov should give them free razors

[MoMoneyMoVaughn]

Tax evasion is a massive problem in Greece. In 2005 it was estimated that Greek citizens evaded 49% of taxes, mostly attributed to self employed professionals who failed to report income.

The problem has gotten so bad that the Greek government is currently investigating Swiss HSBC bank accounts held in the names of Greek Citizens, ostensibly to tax them.

[Dirty Sanchez]

Tax evasion is a massive problem in Greece. In 2005 it was estimated that Greek citizens evaded 49% of taxes, mostly attributed to self employed professionals who failed to report income.

The problem has gotten so bad that the Greek government is currently investigating Swiss HSBC bank accounts held in the names of Greek Citizens, ostensibly to tax them.

100% correct...their tax system is a train wreck...their politicians and everything down to the football association is dirty to the core....makes the US politicians look like the Campfire girls

[Ralphie Halves]

You guys changed my mind on the Greek populous. Wow, I had no idea. Good info!

I dated a girl from Albania who hated Greeks and said the same thing, but I wrote it off to their little rivalry.

[ChalkyDog]

Unless you are taking about something else, I believe the basic gist of it all is as follows:

Greece is no longer in the EURO ZONE, which is not the same as being dumped by the EU all together, it just means no more euro currency. As a result, citizens panicked and pulled out over a billion euro from the banks in a night, clearly putting a strain on central banks and making things a lot worse. As a result greek banks put something like a $60 euro limit on withdraws, which pissed off the citizens.

I could get into more detail but I'm on my phone.

[ChalkyDog]

The tax issue is way worse in Italy.

[jjgold]

A lot of these countries are in bad shape so there's Greece thing is nothing new

[smitch124]

Well, where is Pavy? Maybe he is busy trying to save his country. But, he would know.

[jtoler]

Typical U.S. tricks for privatization. Should have just said I won't pay then just align with China/Russia.

[zizoudane10]

The tax issue is way worse in Italy.

At least Italy has some industry besides tourism. Greece on the other hand...

[byronbb]

I remember I had a boat to catch out of Greece and ticket says leaves at 9am, so we have to haul ass and race to make it on time. Of course lazy assed Greeks took forever loading the boat and it left 3 hours late.

[daneblazer]

Sounds like they rejected a bail out

[Dirty Sanchez]

Sounds like they rejected a bail out

They'll see their moment of rebellion is going to be more than just a kick in the nuts...their pain is going to be enormous

[pavyracer]

October 28th 1940