Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
Member Login

Site Notices
Posted: 6/30/2015 6:07:28 AM EDT
ATHENS, Greece (AP) -- The latest news on Greece's financial woes on a day a big repayment to the International Monetary Fund is due and the country's bailout program with European creditors ends (all times local):

12.32 p.m.

The Kremlin has brushed off speculation that it could lend money to Greece.

Greek Prime Minister Alexis Tsipras has visited Russia twice since April, stoking speculation that Athens could be seeking financial aid from Moscow which is eager to leverage the pro-Russian stance of the new Greek government.

http://finance.yahoo.com/news/latest-russia-dismisses-talk-lending-093907549.html
Link Posted: 6/30/2015 6:07:49 AM EDT
I guess Ivan isn't stupid.
Link Posted: 6/30/2015 6:15:02 AM EDT
Ivan can't afford to lend money to Greece whilst telling the folks at home it's the US/EU's fault the Russian economy is shite.Furthermore,Putin is wooing Erdogan for his pipeline and this would put a damper on Russo-Turkish relations.

Posted Via AR15.Com Mobile
Link Posted: 6/30/2015 6:25:06 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I guess Ivan isn't stupid.
View Quote

Ivan is broke...
Link Posted: 6/30/2015 6:26:55 AM EDT


Like Russia has two rubles to rub together.


Link Posted: 6/30/2015 6:28:21 AM EDT
They will, give it time.

The Greeks need to feel some pain from all of this, when they do they will be much more willing to open negotiations. That's when Russia will step in and get everything they want for a shit ton less than they would now.
Link Posted: 6/30/2015 6:45:31 AM EDT
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.
Link Posted: 6/30/2015 6:59:40 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.
View Quote


Greece legalized gay marriage and now the EU is refusing to lend them money to buy confederate flags and gender reassignment surgeries.
Link Posted: 6/30/2015 7:02:20 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Greece legalized gay marriage and now the EU is refusing to lend them money to buy confederate flags and gender reassignment surgeries.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.


Greece legalized gay marriage and now the EU is refusing to lend them money to buy confederate flags and gender reassignment surgeries.


Nailed it!
Link Posted: 6/30/2015 7:07:02 AM EDT
My money is still on China stepping up to the plate
Link Posted: 6/30/2015 7:09:14 AM EDT
Chechnya?  Two wars.






Greece?  Not even some lunch money.
Link Posted: 6/30/2015 7:10:02 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.
View Quote

When Greece went on the Euro, their problems became the rest of the EU's problem.  At the moment, Greece's debt is nearly 200% of it's GDP, coupled with around 25% unemployment.

Greece isn't more than a couple percentage points of the EU's GDP, but If Greece defaults, the EU could force them off of the Euro and back onto the Drachma in order to protect their interests.  Alternately, the Greeks could leave the Euro on their own.

That would probably result in the Drachma trading against the USD at rates that would make Yen look like even money, further deepening the Greeks problems.  

Basically, it wouldn't be a positive influence on the global economy.
Link Posted: 6/30/2015 7:12:35 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Quoted:


OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.



Why all the rending of garments over them?  It's Greece, who cares?



The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.



A short "Greek Crisis For Dummies" explanation would be appreciated.
View Quote
Same here.  Really all I know about it is the riot dog, and I just found out he's dead.

 
Link Posted: 6/30/2015 7:27:51 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:

When Greece went on the Euro, their problems became the rest of the EU's problem.  At the moment, Greece's debt is nearly 200% of it's GDP, coupled with around 25% unemployment.

Greece isn't more than a couple percentage points of the EU's GDP, but If Greece defaults, the EU could force them off of the Euro and back onto the Drachma in order to protect their interests.  Alternately, the Greeks could leave the Euro on their own.

That would probably result in the Drachma trading against the USD at rates that would make Yen look like even money, further deepening the Greeks problems.  

Basically, it wouldn't be a positive influence on the global economy.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.

When Greece went on the Euro, their problems became the rest of the EU's problem.  At the moment, Greece's debt is nearly 200% of it's GDP, coupled with around 25% unemployment.

Greece isn't more than a couple percentage points of the EU's GDP, but If Greece defaults, the EU could force them off of the Euro and back onto the Drachma in order to protect their interests.  Alternately, the Greeks could leave the Euro on their own.

That would probably result in the Drachma trading against the USD at rates that would make Yen look like even money, further deepening the Greeks problems.  

Basically, it wouldn't be a positive influence on the global economy.


Thank you.
Link Posted: 6/30/2015 7:40:29 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:

When Greece went on the Euro, their problems became the rest of the EU's problem.  At the moment, Greece's debt is nearly 200% of it's GDP, coupled with around 25% unemployment.

Greece isn't more than a couple percentage points of the EU's GDP, but If Greece defaults, the EU could force them off of the Euro and back onto the Drachma in order to protect their interests.  Alternately, the Greeks could leave the Euro on their own.

That would probably result in the Drachma trading against the USD at rates that would make Yen look like even money, further deepening the Greeks problems.  

Basically, it wouldn't be a positive influence on the global economy.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
OK, I'll be the first to admit that I have not been paying all that much attention to the Greece thing.

Why all the rending of garments over them?  It's Greece, who cares?

The best I can make of it is a bunch of people placed bad bets on Greece, then other people placed bad bets on the people that placed bad bets on Greece in the first place. Rinse and repeat.

A short "Greek Crisis For Dummies" explanation would be appreciated.

When Greece went on the Euro, their problems became the rest of the EU's problem.  At the moment, Greece's debt is nearly 200% of it's GDP, coupled with around 25% unemployment.

Greece isn't more than a couple percentage points of the EU's GDP, but If Greece defaults, the EU could force them off of the Euro and back onto the Drachma in order to protect their interests.  Alternately, the Greeks could leave the Euro on their own.

That would probably result in the Drachma trading against the USD at rates that would make Yen look like even money, further deepening the Greeks problems.  

Basically, it wouldn't be a positive influence on the global economy.


Isn't the Greek problem also compounded by a lot of 'pensioners' (retirees)....not unemployed, but receiving ?the greek equivalent of Social Security?....?

(Also not real familiar with the problem overall....but my general impression was that there's a whole lot of FSA stuff going on in Greece....the unemployment you mentioned, the 'social security'?, social programs (what's health care like in Greece...government funded?), etc...that the government has been funding for a while....without any tax base to support it.     So it's a lot like the Liberals want the US to become....)
Link Posted: 6/30/2015 7:44:21 AM EDT
Greece is about to close a deal on a payday loan that will resolve their financial problems once and for all.
Link Posted: 6/30/2015 7:45:08 AM EDT
Greece is ~2% of the EU economy. Yes,it would sting a bit if they leave but it'd be like removing a Band Aid. The problem then is:Portugal, Ireland,Italy and Spain are in rough shape so what happens to them,do they preemptively leave the €?

 The EU/euro are not necessarily bad but not all countries have behaved to the same standard IRT fiscal responsibility. The Greeks think Germans owe them and have a horrible political and economic culture of both refusing to pay taxes but demanding services from fees that were never paid. They also have blown incredible sums on their armed forces due to Turkey and on worthless crap like the Olympics.
Link Posted: 6/30/2015 7:53:42 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Greece is ~2% of the EU economy. Yes,it would sting a bit if they leave but it'd be like removing a Band Aid. The problem then is:Portugal, Ireland,Italy and Spain are in rough shape so what happens to them,do they preemptively leave the €?

 The EU/euro are not necessarily bad but not all countries have behaved to the same standard IRT fiscal responsibility. The Greeks think Germans owe them and have a horrible political and economic culture of both refusing to pay taxes but demanding services from fees that were never paid. They also have blown incredible sums on their armed forces due to Turkey and on worthless crap like the Olympics.
View Quote



It the EU handles this correctly Portugal, Ireland, et al will not be leaving.  Riots and wide spread bank failures

will be a wake up call.
An error occurred on the server when processing the URL. Please contact the system administrator.

If you are the system administrator please click here to find out more about this error.