Comments on: EU needs contingency plan to handle Greek blow-up Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 By: dimitriosz Fri, 10 Feb 2012 15:48:15 +0000 I will try to state briefly my opinion on Greek crisis and on Europoean crisis. Since the 80’s Greece has been fed with more and more money by Europeans and Americans and the only thing that was produced is more and more corruption of the country in all levels. Of course we have to blame ourselves first, but you couldn’t convince even a 5 year old that our lenders did not know anything about our situation, so it is obvious that our corruption was profitable for them. And now our lenders are stuck with an empty country, empty of means and empty of words. They do not trust anyone here and they know very well why. So, either they will let us just drop and shake the dust off their suites or they must propose some certain development measures, managed by them and that is fair, and find a way to monitor the reforms needed step by step, but in a time schedule that does not kill people. Now about Europe. It is now so obvious that French, Germans and others try to maintain the Union whereas English, the big funds and others are trying to break Europe down as they always try to do. You can see some analysts on finance sites almost ready to open a champagne for the destruction of the Union. One of them said : the dance has already started, meaning that, after Greece other countries will also exit until there is nothing left hopefully. So it is time for the ones who want the Union and have the power to keep it alive, to state clearly that we must help each other to that direction and regard the other nations’ problems as our problems. The time is NOW.

By: Harry079 Fri, 10 Feb 2012 15:42:00 +0000 The ECB and the Euro Central Banks will find it very difficult to deal with a panic.

Maybe the other Euro Nations should take a lead from the Greece Police Union and issue arrest warrants for the leaders of the banks.

By: breezinthru Wed, 08 Feb 2012 14:27:39 +0000 No matter what the Greeks say now, they can change their mind later. They did some heavy backsliding in the past under much less pressure. As the Troika’s requirements ramp up even higher, does anyone really believe that they won’t backslide again?

If there were two tables of Texas Hold ‘Em poker with the Greek negotiators seated at one table and the Eurozone heads seated at the other, I would relish the opportunity to play against the Eurozone heads. I would under no circumstances sit down with the Greeks.

The question the Troika should be asking itself is this: will we be in a better position to withstand a Greek default later than we are right now?

The simple answer is no. I know there are other complex developments behind the scenes, but there will always be other considerations. That fact won’t change.

Each time the Troika and northern Europe put more money into the pot, their position at the table weakens. It weakens further still as time passes and economic problems take their toll in other Eurozone countries.

If the Troika and northern Europe does not fold their hand right now, instead choosing to call the Greeks’ 14.5 billion Euros bet, then the Greeks will bet another 90 billion Euros with the next round. If the rest of Europe calls the 90 billion bet, the game doesn’t end there. Surely, the Eurozone realizes that by now.

The Greeks have everything to gain and nothing to lose unless the rest of Europe folds their hand.

Ah, hubris. As they say at every poker table in America, “you gotta know when to fold ’em”.

By: 1OldSchool Wed, 08 Feb 2012 05:01:41 +0000 Why is anyone worried about the Greeks delivering on austerity promises? They cut a whole Billion (yeah ONE!)euros from last year’s budget. That’s a whole 1/90th of the next tranche. Germany should say, “What — me worry?”