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Greece to hold referendum on austerity measures 5 July

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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.

Currently outsourced to the finnish mint.

Doubt that they scrapped the presses, tho.

This only applies to coins, however. Notes are a different story.
 
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.

Which will devalue substantially and hardship will become even more evident.

And it's not certain that the economy will grow as much as people expect with a new currency.
 

Embearded

Member
Proudly voted NO!
There were so many old people voting YES only because they thought that Tsipras closed the banks and if they vote yes they will get their pensions tomorrow as he will open them again.
They speak of nothing else but their pensions, its annoying and frustrating... What about youths future?
 

Yamauchi

Banned
"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!"
That's not backtracking. That's pointing out how the media misrepresented what he said. 'Could' and 'will' have entirely different meanings in the English language (and their translated counterparts in almost all other languages). I will point you to a page on modal verbs for further research: http://www.englishpage.com/modals/modalintro.html

The referendum has certainly been a wonderful exercise in democracy. From the moment it was announced, it was panned in Brussels, its legitimacy dismissed entirely by Troika leaders. Well, no one is dismissing it any more.
 

Ether_Snake

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Which will devalue substantially and hardship will become even more evident.

And it's not certain that the economy will grow as much as people expect with a new currency.

None of this matters considering it would be the best outcome if there is no agreement, and at least Greece wouldn't be at the mercy of the Troika when it comes to just having its ATMs spitting out bills. There's plenty of countries not using the Euro, let's not pretend that Greece is either going to heaven or hell depending on if they use the currency or not.

Waiting until polls close to correct the "misquote"?

yeah..

He always said could. So blame the media, not him. Here is the quote I had on CNBC one hour ago:

"Varoufakis tells CNBC: A deal can come in 24 hours"
 

Rektash

Member
Proudly voted NO!
There were so many old people voting YES only because they thought that Tsipras closed the banks and if they vote yes they will get their pensions tomorrow as he will open them again.
They speak of nothing else but their pensions, its annoying and frustrating... What about youths future?

Doesn't this go both ways though?
 

Tugatrix

Member
Which will devalue substantially and hardship will become even more evident.

And it's not certain that the economy will grow as much as people expect with a new currency.

Greedy business men will only see cheap investment, they work like clockwork pouring money into Greece given the devalued coin, Argentina went through the same process growing at staggering rate every year.
 
Why are old people forced to use debit cards?
Because cash is running low. 20 euro banknotes have already vanished from the ATMs.

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.
I have a suspicion (inb4conspiracytheory) that this is also an experiment to "force" people to use debit cards. Greeks are obsessed with cash (especially compared to Northern/Central Europe), so this seems to be a "golden opportunity" to change this cash-only culture.
 

Theonik

Member
Merkel going into hiding. STOP THE PRESSES.

Merkel and Hollande will talk about the Greek referendum at a candlelight dinner tomorrow at the Elysée:

https://pbs.twimg.com/media/CJKf5L8WUAAjgOh.png
I feel sorry for Hollande there.

I have a suspicion (inb4conspiracytheory) that this is also an experiment to "force" people to use debit cards. Greeks are obsessed with cash (especially compared to Northern/Central Europe), so this seems to be a "golden opportunity" to change this cash-only culture.
Germans are also very 'Cash Only' from what I've experienced. They are the only reason the 500 Euro note even exists.
 

oti

Banned
Oh man, German with a heavy Greek accent is so tough to listen to. (N24)

Waiting for the ZDF heute News.
 

ElTorro

I wanted to dominate the living room. Then I took an ESRAM in the knee.
Those people here who voted NO, what are you primarily hoping for? (a) A better deal or (b) a Grexit with a new currency?
 
Proudly voted NO!
There were so many old people voting YES only because they thought that Tsipras closed the banks and if they vote yes they will get their pensions tomorrow as he will open them again.
They speak of nothing else but their pensions, its annoying and frustrating... What about youths future?

Μy experience as well. If only they could comprehend what yes means to their children and grandchildren but also their own treatment costs and benefits (επιδομα ΕΚΑΣ) as well.

Oh the irony...

Those people here who voted NO, what are you primarily hoping for? (a) A better deal or (b) a Grexit with a new currency?

b i would like mostly
a is much more likely

Germans are also very 'Cash Only' from what I've experienced. They are the only reason the 500 Euro note even exists.

There's a 500€ note? WTF
 
He always said could. So blame the media, not him. Here is the quote I had on CNBC one hour ago:

"Varoufakis tells CNBC: A deal can come in 24 hours"

It's a meaningless statement that way.
Everything CAN happen. But with 90% certainty it will not happen.

"I could be richest person on earth tomorrow!"
 

Chariot

Member
There's a 500€ note? WTF
Indeed there is.

money-glut-432688_640.jpg
 
"Yannis Koutsomitis
‏@YanniKouts

#Greece State Min Papppas says there will be an agreement until July 20.
(the day when ECB's GGB matures)"

Not even 48 hours
 

Yamauchi

Banned
BBC's Chris Morris in Athens
Posted at 17:58
"Almost any economist looks at Greek debt and thinks no way can this country return to growth with such a high level of debt"

True:
CJKnja8VAAAWOBM.jpg:large
 
Proudly voted NO!
There were so many old people voting YES only because they thought that Tsipras closed the banks and if they vote yes they will get their pensions tomorrow as he will open them again.
They speak of nothing else but their pensions, its annoying and frustrating... What about youths future?
It's annoying that they deem their pensions more important than the lives of young people.

Young people should help old people, NOT the other way around: old people give their (grand)children a few euros from their pension, especially if they're unemployed. That's totally backwards and it needs to change.

Germans are also very 'Cash Only' from what I've experienced. They are the only reason the 500 Euro note even exists.
I've heard that Germans despise credit cards and debt in general, but they do love using debit cards.

The cash-only culture also exists in Southern Italy and it undermines their economy as well.
 

Vlodril

Member

probably because i ts summer.

Those people here who voted NO, what are you primarily hoping for? (a) A better deal or (b) a Grexit with a new currency?

speaking for myself i hope for something different. not to quote vaas or anything but it is nonsensical to keep trying the same thing saying now it will work, no now it will work, no now it will work.

Both "solutions" will be painful but we have been stuck and we need to get moving seriously in a direction to fix our shit.

If anything was proved in the last five years was whatever programs were designed for Greece, they clearly did not work (funnily enough i was very pro austerity when things started and i had some disagreements in the past with poisonelf i think).
 

ElTorro

I wanted to dominate the living room. Then I took an ESRAM in the knee.
Germans are also very 'Cash Only' from what I've experienced. They are the only reason the 500 Euro note even exists.

Yeah, that absolutely sucks. One thing I throughly enjoy about the US is that you can pay everything and everywhere with your creditcard.
 

Jb

Member
BBC's Chris Morris in Athens
Posted at 17:58
"Almost any economist looks at Greek debt and thinks no way can this country return to growth with such a high level of debt"

Stiglitz, Piketty, Krugman & Sachs against austerity measures? What has the world come to?
 

oti

Banned
My econ profs were all for no.
OT, you know Lucke, that guy from the AFD? He was an econ prof at my university.
 

Vlodril

Member
ert gives for 7.4 percent of the periphery 60 for no 40 for yes. but still way too early.

unexpected big though. probably the sample is not big enough.
 

Ether_Snake

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Stiglitz, Piketty, Krugman & Sachs against austerity measures? What has the world come to?

Why would they not be against austerity measures? It goes perfectly in line with their economic views. More people should listen to them, they've been right all along.

Haha,this is the time to be dramatic. Things are definitely gonna get dramatic for Greek people. Austerity will be nothing compared to what's coming.

Admit that this is what you hope for. "Destory! BURNNNN!"
 

Aureon

Please do not let me serve on a jury. I am actually a crazy person.
Why would they not be against austerity measures? It goes perfectly in line with their economic views. More people should listen to them, they've been right all along.



Admit that this is what you hope for. "Destory! BURNNNN!"

Sarcasm.
 
Haha,this is the time to be dramatic. Things are definitely gonna get dramatic for Greek people. Austerity will be nothing compared to what's coming.
Nice scaremongering, man.

Greece is doing what should have done 5 years ago.

Who knows, maybe Uncle Sam could help Greece to tie its new currency with the USD? Greece has a huge geopolitical importance, regardless of its economy.
 

Tugatrix

Member
Haha,this is the time to be dramatic. Things are definitely gonna get dramatic for Greek people. Austerity will be nothing compared to what's coming.

Come on I don't buy that scenario I've seen the result of other defaults and nothing like a doomsday scenario happened
 
The greek government seems to have some crazy gall. EU politicians aren't going to crucify themselves at home so greece can avoid austerity.

They are also sending so many mixed signals on what their plans are they give the impression of incompetence. Who knows, maybe they actually have a master plan.
 
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