Australian (ASX) Stock Market Forum

Greece - Is it saveable?

Greece will...

  • Be saved by its neighbours

    Votes: 28 68.3%

  • Break away from the EU

    Votes: 2 4.9%

  • Left to its own devices

    Votes: 7 17.1%

  • Will be ejected from EU

    Votes: 5 12.2%
  • Total voters
    41
  • Poll closed .
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Look the solution is really easy. Greece has been throught this before. After the second world war half of the greek population emigrated to Victoria Australia. There they opened up market gardens and "fish and chip" shops. They sent money home to Greece and bailed Greece out of the post 2nd world war depression.

Now it is time for Greece to send out the pampered unemployed youth to places like India and South Africa (or Western Australia) where they can get employment and send their money back to Greece just like the earlier generations did. Problem solved QED.
 
I've been reading the news and watching the locals riots on the streets.

Europe and the rest of the world look like they are all doing their best to help Greece dig themselves out of the massive hole they dug for themselves.

Two words: dumb wogs.
 
Uncle Festivus said:
You can only kick a can down the road for so long......I give it 6 weeks at most till they are finally consigned to an 'orderly' default?

The real problem is oil - they simply won't have funds to buy fuel, and nobody will extend them any more credit to buy any. The country will literally come to a physical stop as well as a financial freeze. Classic negative contagion.......Italy is next........so the market is saying....?
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Banks that are on the hook must be screaming for time to try and recapitalize so that they can take the hit when it comes hence the kicking the can down the road so long,

Lending another $100 bil plus to some one who can never repay also moves the problem onto the next election cycle for some one else to face the music.

Longer it goes the more it looks nasty IMHO.
 
The Greeks should have played hardball, causing the financial markets to fall while they secretly buy up the most highly leveraged derivative products on their own debt.

They then announce that the austerity plans are accepted by parliment, causing the market to stage a relief rally.

They then announce that, thanks to the relief rally, half of their debt problems have been solved by the profits they've made on those instruments.

The market hears that news and rally harder, and Greek has enough profits to pay back all the debt.

The market rally harder yet, and Greek decides to paint their streets gold, buy a few German banks and construct one man-made island for each Greek citizen... with new debt.
 
skc said:
The Greeks should have played hardball, causing the financial markets to fall while they secretly buy up the most highly leveraged derivative products on their own debt.

They then announce that the austerity plans are accepted by parliment, causing the market to stage a relief rally.

They then announce that, thanks to the relief rally, half of their debt problems have been solved by the profits they've made on those instruments.

The market hears that news and rally harder, and Greek has enough profits to pay back all the debt.

The market rally harder yet, and Greek decides to paint their streets gold, buy a few German banks and construct one man-made island for each Greek citizen... with new debt.
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Isn't that what the U.S.A just did, or is still doing?
 
IFocus said:
Banks that are on the hook must be screaming for time to try and recapitalize so that they can take the hit when it comes hence the kicking the can down the road so long,

Lending another $100 bil plus to some one who can never repay also moves the problem onto the next election cycle for some one else to face the music.

Longer it goes the more it looks nasty IMHO.
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If one of our banks knowingly lent $1Million in cash to a tramp off the street who could never repay the debt, that bank would be committing an indictable offence.

Funny how the Greece bailout is seen in a totally different light by Europollies.....See? They are not criminals, they are generous souls!

LOL
 
I'm 100% in cash, so I hope the silly buggers go **** up.

The Germans like to work, so they can pay for the Greeks pensions.

The Greeks don't work as hard as the Germans, and can then enjoy their retirements, while the Germans work, which they seem to enjoy doing. Thus everyone is happy.

Assets get sold cheaply, the AUD goes up, goods and stocks thus become cheaper for me.

I hope it is not saveable.

gg
 
Guardian.co.uk

"% Greece set to default on massive debt burden,european leaders concede %"

Don't know how to link but looks like game over for them and now the stone has been thrown into the lake the ripples are starting to head around the world !:(
 
Greece is "saved" by pro-austerity parties? Lollipops sans sunshine?

Leading to perhaps worse street riots and yet another "early election" after a few more months of failed "fiscal austerity" with spiralling debt??

Oh well. Saved for now..... let the market Boom commence... :rolleyes:
 
Aussiejeff said:
Greece is "saved" by pro-austerity parties? Lollipops sans sunshine?

Leading to perhaps worse street riots and yet another "early election" after a few more months of failed "fiscal austerity" with spiralling debt??

Oh well. Saved for now..... let the market Boom commence... :rolleyes:
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Have another wine on the bankcard :D
 
Greece and the Euro will be saved because Merkel is now taking advice from the PM of the country with the World's Greatest Treasurer.:rolleyes:
 
Some of you people are so ignorant of what really is going on, not only with the Greek financial crisis, but also i suspect with other matters affecting the rest of the world.
Name calling of other cultures seems to be a popular sport for some of you, it must be the race superiority you enjoy, after all it is only natural it is happening to such an inferior country and its peoples, hey?
The lazy Greeks and the hard working Germans.....
 
I would like to see that poll open again to see if the forum has a similar view! The chances of a 'greek exit' are much higher now, I couldn't see it being less than a 90% chance of an exit.

Greek productivity levels and the structural issues that remain in the country make continually throwing more cash at it whilst it remains a member of the EU, diverts focus from the countries that would cause the EU bigger issues (i.e. Spain, whose economy is around 5x the size of Greece).

Why wouldn't a Greek version of Argentina be a better idea both for Greece and the EU?? Untested for the EU, yes, but it would give Greece the ability to control currency and would give a clear signal to EU members and the wider world that the EU won't support less than successful economies at the cost of the union.
 
Europe's Record Youth Unemployment: The Scariest Graph in the World Just Got Scarier


Europe's job market is a historic disaster.

The EU unemployment rate set a new all-time high of 12.2 percent, according to today's estimates. But it's the youth unemployment crisis that's truly terrifying. In Spain, unemployment surged past 56 percent, and Greece now leads the rich world with an astonishing 62.5 percent of its youth workforce out of a job (graph via James Plunket).

youth%20unemployment%202013.png
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http://www.theatlantic.com/business/archive/2013/05/europes-record-youth-unemployment-the-scariest-graph-in-the-world-just-got-scarier/276423/
 

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