Kendo Posted July 6, 2015 Report Share Posted July 6, 2015 They are skint and money runs out soon. They've voted to tell their creditors to GTF. Looking really bleak for them with no way out. Quote Link to comment Share on other sites More sharing options...
TopCat Posted July 6, 2015 Report Share Posted July 6, 2015 Got to get out themselves out the Euro. Shows the dangers of operating different fiscal policies within one currency. Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 6, 2015 Author Report Share Posted July 6, 2015 Got to get out themselves out the Euro. Shows the dangers of operating different fiscal policies within one currency. They're about to be thrown out. They're doing a similar thing to what the now bust Rangers did. Spend money they don't have and can't repay their debt. Quote Link to comment Share on other sites More sharing options...
TopCat Posted July 6, 2015 Report Share Posted July 6, 2015 They're about to be thrown out. They're doing a similar thing to what the now bust Rangers did. Spend money they don't have and can't repay their debt. Yep. Got to feel for the Greek people really. Not their fault their government over spent for years. They have been and will continue to suffer as a result though. Quote Link to comment Share on other sites More sharing options...
Guest TPAFKATS Posted July 6, 2015 Report Share Posted July 6, 2015 (edited) They've also spent the last five years going through extreme austerity only to be no better off actually worse off. Almost all the bail out money they got went to the bankers - sound familiar? Edited July 6, 2015 by TPAFKATS Quote Link to comment Share on other sites More sharing options...
Drew Posted July 6, 2015 Report Share Posted July 6, 2015 They're about to be thrown out. They're doing a similar thing to what the now bust Rangers did. Spend money they don't have and can't repay their debt. They can't be thrown out. Quote Link to comment Share on other sites More sharing options...
Big Jake Posted July 6, 2015 Report Share Posted July 6, 2015 They can't be thrown out. This time next week they will be The Greece. Quote Link to comment Share on other sites More sharing options...
pozbaird Posted July 6, 2015 Report Share Posted July 6, 2015 This time next week they will be The Greece. Tell me more, tell me more... Quote Link to comment Share on other sites More sharing options...
FTOF Posted July 7, 2015 Report Share Posted July 7, 2015 They've also spent the last five years going through extreme austerity only to be no better off actually worse off. Almost all the bail out money they got went to the bankers - sound familiar? There's no doubt that a lot of this has been caused by financial mismanagement and corruption in government, both within and without of Greece; and of course, as you mention, the knock on effect from the banking crisis. The Greek pension system has also been quite generous compared to other countries, although not quite as generous as it's being made out. There's a figure of 53 years as being the average pension age in Greece, which is unsubstantiated pish, which a lot of people are using as a "big stick" to criticise the Greek people. There's also political pressure from EU countries whose populations would go ape shit, if Greece appeared to allowed to default on their debt. It's a huge mess and as usual the people who can least afford to suffer are the ones that will be hit by this most. Quote Link to comment Share on other sites More sharing options...
rabuddies Posted July 7, 2015 Report Share Posted July 7, 2015 I think state pensions are payable at 55 but they have a huge problem with tax - nobody pays any. Tax avoidance is the norm and their "black" economy puts the rest of Europe in the shade. Quote Link to comment Share on other sites More sharing options...
Sonny Posted July 7, 2015 Report Share Posted July 7, 2015 Bankers won't suffer that's for sure. The sooner these bastards are under control the better for everyone else. Quote Link to comment Share on other sites More sharing options...
DougJamie Posted July 7, 2015 Report Share Posted July 7, 2015 The Greeks never wanted into the Euro in the first place. They have a very high opinion of themselves and still think they have an empire, reminds me of a country south of here!!! England and Greece have a lot in common So its bad news for everyone. We have IS in Turkey, we have Turkey wanting in and Greece out. And we have very right wing Tories ( about 320) wanting us to bomb IS. Also UKIP will grow or the Tories will go further right to capture the vote. Of course Stuat Dicko will blame all this at the SNPs feet. Seriously its a lose lose situation, sooner we get shot of the silver cross pram pushing Royal up the rssses/ trident Londoners the sooner we can start to look forward to true democracy. Quote Link to comment Share on other sites More sharing options...
FTOF Posted July 7, 2015 Report Share Posted July 7, 2015 (edited) I think state pensions are payable at 55 but they have a huge problem with tax - nobody pays any. Tax avoidance is the norm and their "black" economy puts the rest of Europe in the shade. Not really true. This seems to apply to civil servants, as although you can se below, there are conflicting figures. The average retirement age is 61.7 years (from 2005 figures), which was greater than Germany, and is increasing year on year. In 2010, the retiral age was generally accepted as being 65. civil servants in Greece employed before 1992 can retire after 35 years service, if they have reached 58, and retire on 80% of their final basic salary. Greek civil servants have the option to retire after 17.5 years of service, but this is on half benefits. The figure of 53 is a misinformed conflation of the number of people who choose to do this (in most cases to go on to different careers) and those who stay in public service until their full entitlement becomes available Much like Italy, their tax system is pretty lax, and there is a certain degree of tax avoidance. Edited July 7, 2015 by FTOF Quote Link to comment Share on other sites More sharing options...
insaintee Posted July 7, 2015 Report Share Posted July 7, 2015 They are skint and money runs out soon. They've voted to tell their creditors to GTF. Looking really bleak for them with no way out. The Greece Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 7, 2015 Author Report Share Posted July 7, 2015 The Greeks turned up at talks today with NO plan on how to pay back the debt, they are heading for the pail. Quote Link to comment Share on other sites More sharing options...
Guest TPAFKATS Posted July 8, 2015 Report Share Posted July 8, 2015 The Greeks turned up at talks today with NO plan on how to pay back the debt, they are heading for the pail.Kinda depends on the media reports that you follow Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 8, 2015 Author Report Share Posted July 8, 2015 Kinda depends on the media reports that you follow The way I see it is tomorrow is their last dink, on the last day, in the last hour at the last chance saloon. They either come up with a plan or they're oot the windae. Too many countries owded too much money and not prepared to waste another euro on them. Quote Link to comment Share on other sites More sharing options...
WeeBud Posted July 8, 2015 Report Share Posted July 8, 2015 At the start of the "global recession" Greece had the lowest percentage of workers declaring earnings of 100,000 Euros or more for tax purposes but had the highest number of "Porsche" owners per head of population within Europe.....as always, in these situations, there will be winners and losers but I truly feel for the poorest in Greece who may struggle to see any pension at all in years to come. Quote Link to comment Share on other sites More sharing options...
beyond our ken Posted July 8, 2015 Report Share Posted July 8, 2015 At the start of the "global recession" Greece had the lowest percentage of workers declaring earnings of 100,000 Euros or more for tax purposes but had the highest number of "Porsche" owners per head of population within Europe.....as always, in these situations, there will be winners and losers but I truly feel for the poorest in Greece who may struggle to see any pension at all in years to come. partally explained by the fact that they have so many wealthy ex-pats from the UK, Germany , Russia and other places in their country Quote Link to comment Share on other sites More sharing options...
Guest TPAFKATS Posted July 8, 2015 Report Share Posted July 8, 2015 The way I see it is tomorrow is their last dink, on the last day, in the last hour at the last chance saloon. They either come up with a plan or they're oot the windae. Too many countries owded too much money and not prepared to waste another euro on them. They've been doing this for at least 4 deadlines over the last 3 weeks or so according to news reports.They can't be thrown out of EU - at least not according to 'rules' that were in place during Scottish referendum. Mibees thrown out of euro zone? It'll be interesting to see if those who aren't using euro abstain from a vote? Also interesting to note that Poland had a huge national debt written off at end of last century when it came into the arms of a welcoming Europe. Greece has also previously written off half of the debt that West Germany owed to it. Of course that was followed by West Germany becoming an industrial and economic powerhouse. Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 8, 2015 Author Report Share Posted July 8, 2015 They've been doing this for at least 4 deadlines over the last 3 weeks or so according to news reports. They can't be thrown out of EU - at least not according to 'rules' that were in place during Scottish referendum. Mibees thrown out of euro zone? It'll be interesting to see if those who aren't using euro abstain from a vote? Also interesting to note that Poland had a huge national debt written off at end of last century when it came into the arms of a welcoming Europe. Greece has also previously written off half of the debt that West Germany owed to it. Of course that was followed by West Germany becoming an industrial and economic powerhouse. They may get some debt written off but who in their right mind would lend them any more money? Quote Link to comment Share on other sites More sharing options...
Big Jake Posted July 8, 2015 Report Share Posted July 8, 2015 Dave King ? Quote Link to comment Share on other sites More sharing options...
Guest TPAFKATS Posted July 8, 2015 Report Share Posted July 8, 2015 They may get some debt written off but who in their right mind would lend them any more money?The ECB in order to keep the Euro dream alive? Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 8, 2015 Author Report Share Posted July 8, 2015 The ECB in order to keep the Euro dream alive? Or shull? Quote Link to comment Share on other sites More sharing options...
Kendo Posted July 10, 2015 Author Report Share Posted July 10, 2015 Looks like they've done a massive U turn and are proposing cuts themselves that's as bad if not worse than they rejected and held a referendum. What was the point of the referendum? Quote Link to comment Share on other sites More sharing options...
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