Greek Talks Collapse - EU Bailout "absurd" "unacceptable" Say Greek Government - Polidicks

First Source: [URL="http://www.bloomberg.com/news/articles/2015-02-16/greek-government-official-says-no-accord-possible-at-eurogroup"]Bloomberg[/URL] [QUOTE]Talks between the Greece and the rest of the euro area ended in acrimony on Monday as officials in Athens lashed out at demands that they stick to the previous government’s austerity program to retain financial support. [B]The Greek government said in an e-mailed statement it was “absurd” and “unacceptable” to ask the country to request an extension of the current rescue deal and accused Eurogroup Chairman Jeroen Dijsselbloem of backtracking on an agreement he made last week with Prime Minister Alexis Tsipras. [/B] [/QUOTE] [QUOTE]Officials are trying to agree on a program of financial support to keep Greece afloat beyond the end of the month when its existing program expires. [B]Without a deal, Greece could run out of money by the end of March, forcing Tsipras to consider abandoning his promises to the electorate or even leaving the single currency. [/B] [B]The European Union’s commissioner for economic and monetary affairs, Pierre Moscovici, had put forward a draft statement ahead of the meeting that Greece was ready to sign up to, Greek Finance Minister Yanis Varoufakis told reporters after the meeting. When finance ministers gathered Dijsselbloem put forward a different text that the Greeks could not accept. [/B] “[B]In the history of the European Union nothing good has ever come out of ultimatum[/B],” Varoufakis told reporters after the meeting. [/QUOTE] [QUOTE]The meeting of euro-area finance ministers was tense from the outset after weekend talks in Brussels failed to establish common ground. [B]The 19-nation shared euro fell 0.4 percent to $1.1343 at 7:54 p.m. London time after the talks broke up, having climbed as much as 0.3 percent earlier on Monday[/B]. “As talks collapse at the Eurogroup today, Greece finds itself now closer to a new bankruptcy within the Euro and potentially” leaving the currency union, Nicholas Economides, professor of economics at Stern Business School, New York University, said in an e-mail. “Greece could run out of money in March and the European Central Bank could suspend its assistance to Greek banks after Feb. 28, leading to their collapse.” [/QUOTE] Second Source: [URL="http://www.bbc.com/news/business-31485073"]BBC[/URL] [QUOTE][B]The International Monetary Fund (IMF) and European Union (EU) say there should be no change to the conditions of the €240bn (£178bn) loan[/B]. ... "Some people's insistence on the Greek government implementing the bailout is unreasonable and cannot be accepted," Reuters quoted the official as saying. [/QUOTE] [QUOTE] Greece has proposed a new bailout programme that involves a bridging loan to keep the country going for six months and help it repay €7bn (£5.2bn) of maturing bonds. The second part of the plan would see the county's debt refinanced. Part of this might be through "GDP bonds" - bonds carrying an interest rate linked to economic growth. [B]Greece also wants to see a reduction in the primary surplus target - the surplus the government must generate (excluding interest payments on debt) - from 3% to 1.49% of GDP[/B]. In Greece last week, [B]two opinion polls indicated that more than three-quarters of Greeks supported Mr Tsipras's hardline stance[/B]. According to the polls, 79% of Greeks backed the government's policies and 74% believed its negotiating strategy would succeed. [/QUOTE]

RIP Greece

RIP Europe I am moving to Narnia

fuck I'm going to greece in a month

[QUOTE=SebiWarrior;47153472]fuck I'm going to greece in a month[/QUOTE] Been to Greece last year while it was in the midst of the deepest shit and it was great, don't worry.

[QUOTE=SebiWarrior;47153472]fuck I'm going to greece in a month[/QUOTE] Well if they drop the Euro, everything will be super cheap.

The Grecian government is a joke, they don't deserve to be bailed out

[QUOTE=The mouse;47153485]Well if they drop the Euro, everything will be super cheap.[/QUOTE] All of the FUCKING NOTHING that will be available for sale

[QUOTE=The mouse;47153485]Well if they drop the Euro, everything will be super cheap.[/QUOTE] I'm more worried about the Greeks' mentality.

[QUOTE=BFG9000;47153487]The Grecian government is a joke, they don't deserve to be bailed out[/QUOTE] You aren't saying that just 'cause they're socialist, are you? Anyway, they plan to put an end to austerity, and taking a bailout wouldn't let them do that.

[QUOTE=The mouse;47153485]Well if they drop the Euro, everything will be super cheap.[/QUOTE] How will we import shit though :(

[QUOTE=i_speel_good;47153632]How will we import shit though :([/QUOTE]You won't, you'll soon be annexed by russia

Great video on the subject by the way: [video=youtube;C8xAXJx9WJ8]http://www.youtube.com/watch?v=C8xAXJx9WJ8[/video]

[QUOTE=TornadoAP;47153722]Great video on the subject by the way: [video=youtube;C8xAXJx9WJ8]http://www.youtube.com/watch?v=C8xAXJx9WJ8[/video][/QUOTE] I always wondered what that goddamn background song was and a year later I still don't have an answer

[QUOTE=archangel125;47153608]You aren't saying that just 'cause they're socialist, are you? Anyway, they plan to put an end to austerity, and taking a bailout wouldn't let them do that.[/QUOTE] Well at least other socialist countries manage to function

[QUOTE=BFG9000;47153858]Well at least other socialist countries manage to function[/QUOTE] And if they'd taken the bailout, the IMF would've fucked their country worse than they already have. You may not believe it, but rejecting the bailout is the best hope the country has had in ages for recovering. Fuck the IMF.

Why was Greece allowed to use the euro in the first place? Was their economy fine back then?

[QUOTE=meppers;47154162]Why was Greece allowed to use the euro in the first place? Was their economy fine back then?[/QUOTE] Their economy was held up by lies and deceit.

[QUOTE=meppers;47154162]Why was Greece allowed to use the euro in the first place? Was their economy fine back then?[/QUOTE] The gov kept sending fake data about their economy and administration. Since Greece joined that early on nobody bothered to check them properly.

[QUOTE=Carlton Dance;47153657]You won't, you'll soon be annexed by russia[/QUOTE] But Greece was already bought by Germany?

[QUOTE=Impact1986;47154334]But Greece was already bought by Germany?[/QUOTE] I heard somebody speaking Russian on the news in Greece. Seems clear cut to me who REALLY owns it.

Greece is fucked either way, but probably less fucked if they take the bailout. If they don't they'll have to cut spending to a balanced budget because there is no way anyone would lend them money after they default on billions of debt (of course there is the option of hyperinflation which is always fun), but if they accept it their economy will be crippled because there is no way German citizens want to be paying for Greece's mistakes.

[QUOTE=Carlton Dance;47153657]You won't, you'll soon be annexed by russia[/QUOTE] Apparently there's a large Russian speaking minority in Greece.

[QUOTE=NeonpieDFTBA;47154650]Greece is fucked either way, but probably less fucked if they take the bailout. If they don't they'll have to cut spending to a balanced budget because there is no way anyone would lend them money after they default on billions of debt (of course there is the option of hyperinflation which is always fun), but if they accept it their economy will be crippled because there is no way German citizens want to be paying for Greece's mistakes.[/QUOTE] Dude, the bailout is from the IMF. They're part of the reason Greece is in the shit right now in the first place. If they take another, they're doomed.

[QUOTE=BFG9000;47153487]The Grecian government is a joke, they don't deserve to be bailed out[/QUOTE] Grecian? What is this, 100 AD?

[QUOTE=i_speel_good;47153632]How will we import shit though :([/QUOTE] You will produce it eventually due to the exchange rate. It makes things produced locally cheaper than those imported therefore by market logic they will jump start production. Hey, I'm not bullshitting you with Samuelson nor Mankiw. It happened here in Argentina. [editline]17th February 2015[/editline] [QUOTE=Swineflu;47154228]The gov kept sending fake data about their economy and administration. Since Greece joined that early on nobody bothered to check them properly.[/QUOTE] Sounds like bullshit to be honest. I don't believe the Belgians nor the Germans to be that naive so as to believe whatever the Greeks send. Like, there are a fucking million firms offering accountability and auditory services (and you have the money to pay for them). No excuses. "But the info they sent was the only one available" is not valid.

The previous bailouts were the primary reason the Greek economy hasn't recovered yet. Damn good on them for rejecting this one.

[QUOTE=Cutthecrap;47155399]You will produce it eventually due to the exchange rate. It makes things produced locally cheaper than those imported therefore by market logic they will jump start production. Hey, I'm not bullshitting you with Samuelson nor Mankiw. It happened here in Argentina. [editline]17th February 2015[/editline] Sounds like bullshit to be honest. I don't believe the Belgians nor the Germans to be that naive so as to believe whatever the Greeks send. Like, there are a fucking million firms offering accountability and auditory services (and you have the money to pay for them). No excuses. "But the info they sent was the only one available" is not valid.[/QUOTE] Pretty sure in the 90s Germany's economy wasnt much better than Greece's, after all they had to rebuild half their now unified country, pay debts incurred and find work for the millions of unskilled laborers dumped onto their system. The fact that Germany is in such good shape today reflects what smart fiscal and social policies can do. Even in the US where republicans want to adopt German like fiscal policies they forget the social programs Germany undertook to help improve the workers who ultimately generate the taxes

Isn't the main problem is that most greeks don't pay their taxes? Talk about backwards

[QUOTE=shutter_eye5;47156119]Isn't the main problem is that most greeks don't pay their taxes? Talk about backwards[/QUOTE] Isn't your entire country a debtors prison?