[Newsbot]

Title: Greece crisis: What the deal with eurozone demands
Category: Economics
Posted By: andyt
Date: 2015-07-14 17:11:07

[martin14]

82-86 billion, will be over 100 by the time they are through.

Tsipras admitted last night he doesn't believe in the deal.
I imagine the Germans feel the same.

The IMF complains that Greece is not sustainable, but then breaks it's own rules to be involved in this deal.

Greece debt/GDP ratio will now go way over 200%.

Things were supposed to be privatized in 2010, nothing was done. Any reason to think it will change now ?

Last observation:
My mother in law gets a pension in Slovakia of 250 euros per month.
Until Greece cuts it's pensions to that kind of level, they haven't cut enough.

The whole deal is a joke, and in 12-18 months, Greece will be back for more.

[DrCaleb]

How many Greeks are there? 15 Million?

With a debt of 500 billion now? Let's see, carry the three . . .yea, they are even more fucked now than before.

[BartSimpson]

I don't see how this deal helps if all it does is put Greece even further into debt making the eventual crisis even worse than the one they're facing right now.

It almost looks like someone WANTS a Greek economic collapse.

I say that because this 'deal' is akin to giving an alcoholic a case of bourbon to help them deal with their alcohol problem.

[andyt]

Because they are forcing Greece to totally revamp their economy. You should be happy, Greece is forced to privatize industries and open up others to foreign competition. Plus cuts in spending. There seems to be some willingness to restructure the debt once Greece has made these changes.

Everybody is scared to see what happens if you cut off the drunk cold turkey. Could get ugly. Might be cheaper to just keep the drunk on a maintenance dose. For instance the Euro just took a dive - Germany loves that. If Germany is forced to go back to the DM, they will price themselves out of the market in no time.

[BartSimpson]

andyt andyt:

Because they are forcing Greece to totally revamp their economy. You should be happy, Greece is forced to privatize industries and open up others to foreign competition. Plus cuts in spending. There seems to be some willingness to restructure the debt once Greece has made these changes.

Everybody is scared to see what happens if you cut off the drunk cold turkey. Could get ugly. Might be cheaper to just keep the drunk on a maintenance dose. For instance the Euro just took a dive - Germany loves that. If Germany is forced to go back to the DM, they will price themselves out of the market in no time.

I suppose we'll see if the Greeks go for the deal. I'm thinking they'll reject it.

[martin14]

DrCaleb DrCaleb:

How many Greeks are there? 15 Million?

With a debt of 500 billion now? Let's see, carry the three . . .yea, they are even more fucked now than before.

About 11 million, actually.

Before this new bailout, 32,000 euros per person in bailout money.

This could push it over 40k, and nothing will change.

BartSimpson BartSimpson:

I suppose we'll see if the Greeks go for the deal. I'm thinking they'll reject it.

Their Parliament passed it last night, as did France.

Several votes still need to be held, Germany, Finland, couple others.

All will pass, unless the IMF clearly states they are out unless some Greek debt is canceled.

The UK is fighting hard to NOT have to put up money for this idiocy; considering
they used money to bail out Ireland, shows what the feeling is these days.

[Brenda]

Don't forget Iceland. And next will be Spain, Portugal...

[2Cdo]

Brenda Brenda:

Don't forget Iceland. And next will be Spain, Portugal...

Italy, most of the Baltic states, etc. The entire house of cards that is the Eurozone will eventually collapse.