Syriza-Greece
Syriza-Greece
Woudn't it be a fantastic middle fingered salute to the austerity merchants if these real left wingers get into power in Greece.
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David Johnson
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Re: Syriza-Greece
Yep, it would be great if Syriza got an overall majority in the weekend election.
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Porn Baron
- Posts: 993
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Re: Syriza-Greece
Syriza does not want Greece to leave the euro. But it does want a restructuring of Greece?s debts and an end to austerity. Who picks up the bill?
The EU are adament that there will be no changes to the terms of the Greek bailout. Because others may then want the same. Spain, Ireland, Italy?
This is going to be interesting.
Could this be the start of the break up of the euro or even the EU?
Could any negative Greece/ euro news bolster UKIP support in time for our election?
The EU are adament that there will be no changes to the terms of the Greek bailout. Because others may then want the same. Spain, Ireland, Italy?
This is going to be interesting.
Could this be the start of the break up of the euro or even the EU?
Could any negative Greece/ euro news bolster UKIP support in time for our election?
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David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Re: Syriza-Greece
Like you say, if Syriza get an overall majority then it is going to be interesting. They seem to be determined to get either a write-off of their debt or a complete restructuring. Anything less and they are threatening to default on the debt.
I guess if the EU is faced with Syriza, the options for the EU are:
1. Give in to Syriza and write off some of the debt and/or restructure it to easier terms. I cannot see the EU agreeing to this because as you rightly say, every country that has had a bailout e.g. Portugal, Spain, Italy will argue that they must have a similar deal. And if those countries don't get a similar deal, the anti-EU parties will be hugely strengthened in each country which could lead to a breakup of the euro. On top of that all the other EU countries that have not had a bailout will have anti-EU parties arguing "Why are we paying for the greedy, profligate spenders?" Even though we are not in the euro, this will strengthen the likes of UKIP.
2. Restructure the debt for all those countries that have had a bailout including Greece. This will strengthen the anti-EU parties in all the non-bailout EU countries.
3. Say to Syriza, "tough shit, do your worst". In this case, Syriza would probably default on the debt and the shit would really start flying then and possibly end up with a run on the Greek banks as organisations panic to get their money out and Greece drops out of the Eurozone. The likes of Germany could use this as a warning for the other EU bailout countries - this is what happens if you plan to do similar.
Given that Greece only represents about 2% of the total EU economy, I would guess that option 3 could well be the likeliest result followed by option 2.
Whatever happens with this mess, it merely illustrates the insanity of having umpteen countries with completely different economies and levels of corruption etc coming together and using the same currency.
I guess if the EU is faced with Syriza, the options for the EU are:
1. Give in to Syriza and write off some of the debt and/or restructure it to easier terms. I cannot see the EU agreeing to this because as you rightly say, every country that has had a bailout e.g. Portugal, Spain, Italy will argue that they must have a similar deal. And if those countries don't get a similar deal, the anti-EU parties will be hugely strengthened in each country which could lead to a breakup of the euro. On top of that all the other EU countries that have not had a bailout will have anti-EU parties arguing "Why are we paying for the greedy, profligate spenders?" Even though we are not in the euro, this will strengthen the likes of UKIP.
2. Restructure the debt for all those countries that have had a bailout including Greece. This will strengthen the anti-EU parties in all the non-bailout EU countries.
3. Say to Syriza, "tough shit, do your worst". In this case, Syriza would probably default on the debt and the shit would really start flying then and possibly end up with a run on the Greek banks as organisations panic to get their money out and Greece drops out of the Eurozone. The likes of Germany could use this as a warning for the other EU bailout countries - this is what happens if you plan to do similar.
Given that Greece only represents about 2% of the total EU economy, I would guess that option 3 could well be the likeliest result followed by option 2.
Whatever happens with this mess, it merely illustrates the insanity of having umpteen countries with completely different economies and levels of corruption etc coming together and using the same currency.
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andy at handiwork
- Posts: 4113
- Joined: Fri Jul 14, 2017 2:40 am
Re: Syriza-Greece
Maybe they will be able to deal robustly with the neo-nazis of Golden Dawn now.
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Arginald Valleywater
- Posts: 4288
- Joined: Fri Jul 14, 2017 2:40 am
Re: Syriza-Greece
Aha....leftys are as usual OK but right wingers are evil......now correct me if I am on wrong....Stalin killed more than Hitler...
Do this bunch of leftist clowns have any idea about government? Where exactly are they going to generate revenues in a workshy country whose tax collection system is more corrupt than some African states? What, apart for whingeing, is Greece's biggest industry these days?
Do this bunch of leftist clowns have any idea about government? Where exactly are they going to generate revenues in a workshy country whose tax collection system is more corrupt than some African states? What, apart for whingeing, is Greece's biggest industry these days?
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David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Argie
The Greeks would be better off voting for a safe pair of hands like UKIP.
THey'd get them out of the EU in double quick time. Those UKIP lads really know what they are doing.
!wink!
THey'd get them out of the EU in double quick time. Those UKIP lads really know what they are doing.
!wink!
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Arginald Valleywater
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- Joined: Fri Jul 14, 2017 2:40 am
Re: Argie
A sensible answer will suffice. This post is about Greece not the UK.
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David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Syriza cave in
Looks like Syriza has caved in after just a few weeks. Their application for a 6 month bridging loan accepts that the troika, the IMF, the European Union and the EU Central Bank would monitor Greece's adherenece to the terms.
Just a few weeks ago Syriza were refusing to let the troika have any involvement.
Syriza has already accepted that they cannot unilaterally hire public sector workers for example. A lot of the measures Syriza said they would introduce to ease austerity would not now be possible.
Despite this, Germany have poured a bucket of cold sick on Syriza's request. I suspect that Syriza's supporters are not going to be taken in by the "spin" the Syriza leadership is putting on this.
Just a few weeks ago Syriza were refusing to let the troika have any involvement.
Syriza has already accepted that they cannot unilaterally hire public sector workers for example. A lot of the measures Syriza said they would introduce to ease austerity would not now be possible.
Despite this, Germany have poured a bucket of cold sick on Syriza's request. I suspect that Syriza's supporters are not going to be taken in by the "spin" the Syriza leadership is putting on this.