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Greece to hold referendum on austerity measures 5 July

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Criminals. Didn't hear about the last one, absolutely unprecedented. To think she was even feeding the US embassy.

See pages 34-40 for even more extreme agitprop examples. Honestly the FUD that went on this week is beyond ANYTHING else in modern greek history. People have been protesting outside major TV stations but the police protect them. Tsipras was told by his advisors yesterday to have a supreme court prosecutor investigate on the media case, but so far, no action has been taken. Again, imho Syriza has been letting this slide (known corrupted media) for 5 months, even though the propaganda spewed against current government is horrendous.

In other news, i went to vote and i was the only young person there. Hope this is purely anecdotal...
 
At least they will be independent and free to break away from externally-imposed austerity measures which clearly aren't working (and "aren't working" is putting it nicely).

It will definitely suck in the short term though...

The next 12 months will be hell for Greeks. The question would be whether 15+ years of austerity is worse than the 2-3 years of massive inflation that a pull out of the Euro would result in. (Probably)
 

Condom

Member
They can't be kicked out, but the ECB will only support Greece if there's a program in place, so effectively they're out of the Euro.

Which is illegal to do for the ECB, they can't decide such a thing. Aren't they forced to provide bank notes for Greece?
 

Ether_Snake

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They can't be kicked out, but the ECB will only support Greece if there's a program in place, so effectively they're out of the Euro.

They aren't out of the Euro, lol. They cannot kick a country out just because it's in a financial mess, it would basically spell the end of the union. So Greece is only out of the EU if they want to leave, and chances are they stay but with their own money, or take a bad deal with a new crap corrupted government (one that likely won't even be elected anyway).
 

Ether_Snake

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Phone polls are likely to show the Yes ahead, since it would be more old people.
 

Mario007

Member
Which is illegal to do for the ECB, they can't decide such a thing. Aren't they forced to provide bank notes for Greece?

No the full formal blanket guarantee ran out in February. If I'm not mistaken, ECB is now doing the guarantee based on the agreement (and that agreement ran out a few days ago so a new one is needed).
 
I don't much care for Merkel, but i can't help but love a phrase that she apparently used:
Germany’s Spiegel newspaper has the inside line of how Angela Merkel reacted last weekend to the news that Alexis Tsipras had called today’s referendum,

It says an exasperated Merkel told the inner circle of her CDU party that his politics were “hard and ideological” and that he was “driving his country to the wall, with open eyes”.

Spiegel says that the quotes have been confirmed by several participants of the meeting at the Konrad Adenauer House in Berlin, last Monday. It added she was flabbergasted that he could “play roulette with an entire country”.

Spiegel’s front page cover has Merkel sitting on the rubble of a collapsed Greece, with the headline “Die Trummerfrau” - a reference to the ‘rubble ladies’ who cleared up bombed-out Berlin after the war, and the declaration:

“If the Euro collapses, so too will Merkel’s chancellorship”.

— Kate Connolly (@connollyberlin)
July 5, 2015

"Woman of the ruins". If the #Euro collapse so too does #Merkel's chancellorship says @Spiegel in title story pic.twitter.com/ksDd4wtPU8
lol at calling the greeks the ideological ones, tho
 

PJV3

Member
I just hope a deal is offered with real light at the end of the tunnel for Greece, otherwise it's a shitty kind of union.
 

Blablurn

Member
merkel is in her third term. even if its ends her chancellorship, she will be okay. furthermore there is no real threat from the opposition. sounds like a meaningless quote.
 

chadskin

Member
AP: BREAKING: 3 opinion polls show Greek referendum likely to be won by 'no' vote.

Keep in mind, they're not exit polls but telephone polls.
 

East Lake

Member
From Guardian Live blog

We’re about to hear a lot of noise from Greece, as phone polls conducted today are released.

Important note - these are not full exit polls, according to local media.

@charlesforelle

As @SteliosBouras1 points out, what we'll get in a few mins are opinion polls--today's polls, yes, but still not exit polls or full results

:Beaten!
 

Chariot

Member
merkel is in her third term. even if its ends her chancellorship, she will be okay. furthermore there is no real threat from the opposition. sounds like a meaningless quote.
Yeah, it's not like anyone has any candidate that could win against Merkel. Most rivals from her own party "vanished" during her reign. The next best things would be Seehofer who is only backed by Bavaria (which is in and of itself a strong base of course) and Gregor Gysi. But few want Gysi if that means to have the Linke in government. If only the SPD would have SOMEBODY likeable on top.
 
They aren't out of the Euro, lol. They cannot kick a country out just because it's in a financial mess, it would basically spell the end of the union. So Greece is only out of the EU if they want to leave, and chances are they stay but with their own money, or take a bad deal with a new crap corrupted government (one that likely won't even be elected anyway).

Like I said, they can't kick them out, but if the banks dry up - and it's a matter of days - and with no ECB support (because there's no programme in place) what are they going to do?
 

Ether_Snake

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Like I said, they can't kick them out, but if the banks dry up - and it's a matter of days - and with no ECB support (because there's no programme in place) what are they going to do?

If they do nothing, Greece will have no choice but to make its own currency. It will still be in the EU, so that's what it will do.
 
If they do nothing, Greece will have no choice but to make its own currency. It will still be in the EU, so that's what it will do.
I wouldn't be surprised if the new drachma was electronic-only for the first few months at least... it takes 6 months or more to print new banknotes/coins.

Even with the euro, it will be impossible to use cash from now on (ATMs are almost dry).
 

Ether_Snake

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I wouldn't be surprised if the new drachma was electronic-only for the first few months at least... it takes 6 months or more to print new banknotes/coins.

Even with the euro, it will be impossible to use cash from now on (ATMs are almost dry).

Well that wouldn't work for most people, people need paper cash for a long time if Greece goes electronic.

Tsipras should bring a dog to Brussels.
dnpWINQ.jpg
 
Well that wouldn't work for most people, people need paper cash for a long time if Greece goes electronic.
People (even elderly ones) are already forced to use an electronic currency (debit cards & bank accounts), so there's no difference TBH.

I've heard some rumours that the banks will remain closed for a couple of months, so there's no alternative. Adapt (aka learn to use your debit card) or die. There's no way around it.

The only problem is that most shops (especially small ones) don't have POS machines...
 
"Yanis Varoufakis @yanisvaroufakis
"In 24h we COULD have an agreement", I said. But our toxic media rushed to report that I predicted an agreement within 24h. Go figure!"

Back tracking begins.
 

Ether_Snake

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People (even elderly ones) are already forced to use an electronic currency (debit cards & bank accounts), so there's no difference TBH.

I've heard some rumours that the banks will remain closed for a couple of months, so there's no alternative. Adapt (aka learn to use your debit card) or die. There's no way around it.

The only problem is that most shops (especially small ones) don't have POS machines...

Why are old people forced to use debit cards? If so it could work. Either way, in the future that's how it should be, if they can use this as an opportunity to have an electronic-only currency, great.

"Yanis Varoufakis @yanisvaroufakis
"In 24h we COULD have an agreement", I said. But our toxic media rushed to report that I predicted an agreement within 24h. Go figure!"

Back tracking begins.

How is it back tracking? Of course he couldn't guarantee an agreement.
 
Can't it's central bank make coins? I know there is a limit there but otherwise you could just press those coins.
http://www.iefimerida.gr/news/17044...ρώ-κλείνει-το-εργοστάσιο-στην-ηπειρο-που-τα-κ
http://www.news4people.gr/index.php...πειρο-ο-ήσυχος-πήγε-εκεί-που-κόβονται-τα-ευρώ

TL;DR: Troika (what a surprise!) wanted to close down the factory that produced greek euro coins. I'm not sure if it's still operating.
 

le-seb

Member
The only problem is that most shops (especially small ones) don't have POS machines...
Chicken or egg problem if no one produces payment terminals in Greece.
It's very unlikely this would work at all.

Also, nobody mentioned that deal about Greek money hidden in Swiss banks?
 
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