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QFour
26-01-2015, 09:23
I was thinking I could do it the GREEK way. Borrow all the money I need. Wait a few months and go back to the lenders and tell them that I am going to scrap the debt. Wonder what they would say.

Greeks are also on about creating thousands of new jobs in the public sector and increasing pensions. I wonder what the German Chancellor Angela Merkel thinks of that. It will be interesting to see where they get all the money from.

mandrake
26-01-2015, 10:41
I was thinking I could do it the GREEK way. Borrow all the money I need. Wait a few months and go back to the lenders and tell them that I am going to scrap the debt. Wonder what they would say.

Greeks are also on about creating thousands of new jobs in the public sector and increasing pensions. I wonder what the German Chancellor Angela Merkel thinks of that. It will be interesting to see where they get all the money from.

she will probably choke when she is sucking on a bratwurst, or knockwurst sausage or whatever there called

GRWXJR
26-01-2015, 11:14
Lunacy.

Grasshopper and the Ant stuff.

Greece will be isolated and unable to trade and is effectively trying to call bluff on the rest of the world. I'm no economist but this ought to be suicide for Greece.

If it was the MH anaolgy they'd just come and take it back lol - but how do you confiscate a country?

izwozral
26-01-2015, 12:46
Lunacy.

Grasshopper and the Ant stuff.

Greece will be isolated and unable to trade and is effectively trying to call bluff on the rest of the world. I'm no economist but this ought to be suicide for Greece.

If it was the MH anaolgy they'd just come and take it back lol - but how do you confiscate a country?

Easy, invade it like China has done with Tibet.

GRWXJR
26-01-2015, 13:17
[/B]

Easy, invade it like China has done with Tibet.

Ah, but the west are supposed to be so much nicer and more cuddly than nasty ole China - and so that's not an option, right?

Its a question I've considered many times myself.... if a country is able to 'borrow' more money than it can ever hope to pay back... then on just what basis was it lent (and continued to be lent more) that amount in the first place? And what collateral (as in Guarantees or Recovery) is there for the Lenders?

Theoretically Greece CAN just say "stuff you all, we ain't got it, we have spent it, and we aren't giving you any back" - and there's not much a Lender can do except refuse to have any further trading with that country, right?

Will Greece end up embargoed by every other nation? Will their population suffer much worse poverty and depradation as a result of todays Left-Wing victory and its renouncement of austerity measures? Will Greece be kicked out of the EU and the Euro?

If Europe cuts them loose and out from under the protection of the EU, will they then fall prey to an aggressive nation outside of the EU(Russian Invasion, anyone?) or similar?

If Greece set a successful precedent for reneging on any intention to repay borrowing, won't this set a precedent that could cause global financial chaos?

I don't know any of the answers, but I can think of loads of questions!

mandrake
26-01-2015, 14:14
[/B]

Easy, invade it like China has done with Tibet.

not worth invading ,there's no oil and there skint . mind you we could always ship the unemployed over here ,there in the eu same as the eastern Europeans . after all we've the Rumanians and Croatians .the Latvians ,so why not have some Greeks .

Wooie1958
26-01-2015, 14:37
I was thinking I could do it the GREEK way. Borrow all the money I need. Wait a few months and go back to the lenders and tell them that I am going to scrap the debt. Wonder what they would say.

Greeks are also on about creating thousands of new jobs in the public sector and increasing pensions. I wonder what the German Chancellor Angela Merkel thinks of that. It will be interesting to see where they get all the money from.



There is another way :idea-007:

Send me your bank account details along with all the necessary passwords and security questions etc and i`ll transfer the money when i get chance :lol-049:

Tezza
26-01-2015, 14:42
not worth invading ,there's no oil and there skint . mind you we could always ship the unemployed over here ,there in the eu same as the eastern Europeans . after all we've the Rumanians and Croatians .the Latvians ,so why not have some Greeks .
you forgot the french...maybe as much as 500k of them here....nobody seems to mention them.

Down and out: the French flee a nation in despair - Telegraph (http://www.telegraph.co.uk/finance/10390571/france-hollande-taxes-socialist-farrage.html)

Tezza
26-01-2015, 14:45
Ah, but the west are supposed to be so much nicer and more cuddly than nasty ole China - and so that's not an option, right?

Its a question I've considered many times myself.... if a country is able to 'borrow' more money than it can ever hope to pay back... then on just what basis was it lent (and continued to be lent more) that amount in the first place? And what collateral (as in Guarantees or Recovery) is there for the Lenders?

Theoretically Greece CAN just say "stuff you all, we ain't got it, we have spent it, and we aren't giving you any back" - and there's not much a Lender can do except refuse to have any further trading with that country, right?

Will Greece end up embargoed by every other nation? Will their population suffer much worse poverty and depradation as a result of todays Left-Wing victory and its renouncement of austerity measures? Will Greece be kicked out of the EU and the Euro?

If Europe cuts them loose and out from under the protection of the EU, will they then fall prey to an aggressive nation outside of the EU(Russian Invasion, anyone?) or similar?

If Greece set a successful precedent for reneging on any intention to repay borrowing, won't this set a precedent that could cause global financial chaos?

I don't know any of the answers, but I can think of loads of questions!

The answer maybe???
27370

K9d
26-01-2015, 15:39
The answer maybe???
27370

I've often wondered who is lending the money, maybe part of the problem is there isn't any money its just number on a computer somewhere.

I get paid in numbers going into my bank account, when I buy fuel or food some of those numbers get moved about but there is never any money involved.
Maybe if we had to handle money there would be more reluctance to part with it so readily and there may be less problems, but then if we all stop spending that brings different problems.
I think I need a lie down now.

Neilwood32
26-01-2015, 16:45
Lunacy.

Grasshopper and the Ant stuff.

Greece will be isolated and unable to trade and is effectively trying to call bluff on the rest of the world. I'm no economist but this ought to be suicide for Greece.

If it was the MH anaolgy they'd just come and take it back lol - but how do you confiscate a country?

They will find it increasingly hard to borrow money and when they can it will be at increasingly crippling interest rates. So unless the country suddenly becomes hugely efficient and successful, they will end up paying a large amount of their money simply on interest payments (much like credit cards!)

QFour
26-01-2015, 21:31
I've often wondered who is lending the money, maybe part of the problem is there isn't any money its just number on a computer somewhere.

I get paid in numbers going into my bank account, when I buy fuel or food some of those numbers get moved about but there is never any money involved.
Maybe if we had to handle money there would be more reluctance to part with it so readily and there may be less problems, but then if we all stop spending that brings different problems.
I think I need a lie down now.

And there lies the problem. They have been living beyond their means for years with the debt getting higher and higher but no one did anything about it just buried their heads in the sand. As you say just numbers. When the crunch came they could not repay the large numbers that had been accumilated due to the high number of civil servants, a massive pension bill and all the Greeks trying to evade paying tax.

So what happens next. They say they are going to renegotiate the terms, create thousands of jobs, Increase pensions and wages and start living beyond their means once again. So do they get bailed out yet again with more loans that they can never repay.

..

GRWXJR
26-01-2015, 21:56
And there lies the problem. They have been living beyond their means for years with the debt getting higher and higher but no one did anything about it just buried their heads in the sand. As you say just numbers. When the crunch came they could not repay the large numbers that had been accumilated due to the high number of civil servants, a massive pension bill and all the Greeks trying to evade paying tax.

So what happens next. They say they are going to renegotiate the terms, create thousands of jobs, Increase pensions and wages and start living beyond their means once again. So do they get bailed out yet again with more loans that they can never repay.

..

Your post though sounds a heck of a lot like the UK, just a bit worse. And if the election steers left in May, it'll soon look a lot more like your post.

The UK has been having a fire sale of all its assets to fund the mismanagement for the last 30 years, and is still spending more than we earn.

We arent so different to Greece. We've just not got quite as far gone yet is the difference, while the elecorate are largely as ignorant of the situation and that money does not grow on trees as the Greeks.

We arent so far behind that we should not watch carefully what hapoens to Greece in the near future, as we might be next.

Tezza
26-01-2015, 22:03
The electorate might not be as ignorant if politicians told the truth instead of the constant lies and manipulating figures to suit. We are nearly at the same point as greece. i think 14 million live below the poverty line in the UK...our defecit is totally out of control. Unempolyment is not what we are led to believe...it is far higher So your right when you say we are almost there. Our turn next

GRWXJR
26-01-2015, 22:09
The electorate might not be as ignorant if politicians told the truth instead of the constant lies and manipulating figures to suit. We are nearly at the same point as greece. i think 14 million live below the poverty line in the UK...our defecit is totally out of control. Unempolyment is not what we are led to believe...it is far higher So your right when you say we are almost there. Our turn next

Politicians telling the truth! What a ridiculous fantasy notion! What a vivid and fantastic magination you have there Tezza :lol-053: !

Tezza
26-01-2015, 22:18
Things getting pretty heated in greece now....news at ten was never like this

https://www.youtube.com/watch?v=Y2vsYdReMCg&feature=youtu.be

eddyt
26-01-2015, 22:31
The electorate might not be as ignorant if politicians told the truth instead of the constant lies and manipulating figures to suit. We are nearly at the same point as greece. i think 14 million live below the poverty line in the UK...our defecit is totally out of control. Unempolyment is not what we are led to believe...it is far higher So your right when you say we are almost there. Our turn next

our debt is mutch worse than greece 1.5 trillion pounds its only hanging on because the government can still borrow
to fill the deficit and each time it just grows bigger

sparrks
27-01-2015, 00:39
you forgot the french...maybe as much as 500k of them here....nobody seems to mention them.

Down and out: the French flee a nation in despair - Telegraph (http://www.telegraph.co.uk/finance/10390571/france-hollande-taxes-socialist-farrage.html)

A warning on applying punitive taxes like Hollande. Try cutting tax avoidance in particular on large organisations.


The electorate might not be as ignorant if politicians told the truth instead of the constant lies and manipulating figures to suit. We are nearly at the same point as greece. i think 14 million live below the poverty line in the UK...our defecit is totally out of control. Unempolyment is not what we are led to believe...it is far higher So your right when you say we are almost there. Our turn next

Politicians aren't totally stupid, they know if they told us the truth as to what really needs to be done they would never get elected, better for them just to tell us what they think we can stomach.


I've often wondered who is lending the money, maybe part of the problem is there isn't any money its just number on a computer somewhere.

I get paid in numbers going into my bank account, when I buy fuel or food some of those numbers get moved about but there is never any money involved.
Maybe if we had to handle money there would be more reluctance to part with it so readily and there may be less problems, but then if we all stop spending that brings different problems.
I think I need a lie down now.

The problem is so much money is just made. For example a bank has 10billion in cash, it may lend 20 billion a year in mortgages, 10 billion of that would be 'paper money' and as the 'real' 10 billion would not be paid back within the year the following years lending would then be all 'paper money' not sure what effect it has on the economy but I'm sure the man in the street picks up the shortfall. Hopefully someone else can explain it better.

Debs
27-01-2015, 04:44
You've all got it wrong, we are a very rich country, as we keep giving millions to other countries to help them out, and we pay millions in membership of the European country club, and not forgetting the millions our fine upstanding governments cost to run..........:lol-049::lol-049::lol-049::lol-049::help::nospam:

Teutone
27-01-2015, 05:02
They will find it increasingly hard to borrow money and when they can it will be at increasingly crippling interest rates. So unless the country suddenly becomes hugely efficient and successful, they will end up paying a large amount of their money simply on interest payments (much like credit cards!)

Listening to a TV debate a while ago, I think that this isn't the case with EURO currency members and has started the mess in the first place. The idea of he EURO was/is that every member can borrow money at the same rates. Hence the Greek put their hands in the cash till and got far more than they would have in a normal situation.

Neilwood32
27-01-2015, 14:34
Listening to a TV debate a while ago, I think that this isn't the case with EURO currency members and has started the mess in the first place. The idea of he EURO was/is that every member can borrow money at the same rates. Hence the Greek put their hands in the cash till and got far more than they would have in a normal situation.

They will go to the ECB or IMF to get the money and as far as I know both have the ability to vary the rate. I would be surprised if they can't as any financial institution wants the ability to look at creditworthyness and charge an interest rate which reflects it

QFour
27-01-2015, 14:49
You've all got it wrong, we are a very rich country, as we keep giving millions to other countries to help them out, and we pay millions in membership of the European country club, and not forgetting the millions our fine upstanding governments cost to run..........:lol-049::lol-049::lol-049::lol-049::help::nospam:

Hmmmmmm .. Foreign Aid

Don't know what planet they are on. We must be borrowing money to give it away :mad2: .. How does it work .. Must be the feel good factor they get from giving away our money ..

..


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