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Threats of Default and 'Grexit' Loom as Greece Refuses to Surrender


#1

Threats of Default and 'Grexit' Loom as Greece Refuses to Surrender

Lauren McCauley, staff writer

As threats of a debt default, potential 'Greek exit,' and stock market crash loom, both sides appear to be digging in their heels after negotiations between Greece and European lenders collapsed on Sunday.

Greece's leftist leader, Prime Minister Alexis Tsipras, slammed his creditors for their "insistence" on austerity, which he described as a "pillaging" of Greece's imperiled economy.


#2

$1.8 billion or the Birthplace of Democracy gets it....see...

Talk about Banksters....Have you no Decency, Sirs?

And for what...Chump Change.....not even interest on a decent Hedge Fund.

Pay Up or your Granny Gets Walkin' Papers.
Cough it Up or You're Outta here at the end of the Month.


#3

Usury is such a kind and honorable way to build wealth, happiness through others misery.


#5

Just as the EU's single currency scam has bankrupted Greece, Spain, Italy, Portugal and others by making them trade in a currency far higher than it would otherwise be, it has enriched the northern European countries who can sell their exports, like military hardware at a rate that's far below what it should be.

The German economic miracle is a fraud. If/when Greece and the others finally take a hike the German Mark will skyrocket and their exports will crumble. On the other hand the Greek Drachma will fall drastically so holidays in Greece as well as their other exports like agricultural products will be way more affordable.

Greece, like Iceland, will be fine, the speculators maybe not so much.


#6

Go for it, Greece! Print your own money and tell them to jump in a lake, already!


#7

Neither the leaders of the EU nor the leaders of Greece have any choice, which makes a default inevitable. Syriza cannot weaken or the coalition will collapse, leaving the neo-Nazis to pick up the pieces.The EU political chiefs do not have the power to simply write off the debts which are held not only by the big banks but by pension systems and other investment entities. The shock waves will be considerable when Greece defaults, but the EU and U.S. financial systems will just have to deal with it. The greater danger will be if Spain and other heavily indebted economies follow the Greeks out of the Euro system.

I would like to think that this crisis will lead to a more equitable system for Europe, but give the inability of western leaders to think beyond the current model, that is unlikely. More likely is a low grade recession lasting for years. Too late to go back now, but the Euro should never have been extended beyond its original participants.


#8

What was the total currency judgment against Nazi Germany to repay Greece for massive wartime damages? Wasn't that debt forgiven over the years? Why?

Perhaps those books need to be opened for reconsideration at this time.


#9

One wonders when there will be a military coup (again) in Greece.


#10

It wasn't ever 'written off'. Evan one of Germany's cabinet ministers agrees Greece has a good case for repament of this 'Odious Debt. There's quite a few good articles about that including:
http://www.zerohedge.com/news/2015-04-08/odious-debt-has-finally-arrived-greece-write-illegal-debt


#11

Greece should never pay a dime to the krout banksters loans, they must default and get out of the EU.
BRICS is the future, Greece should join the BRICS if they want their democracy preserved.


#12

The CD article says:

The impact of the disagreement was clearly felt on the stock market Monday as rumors circulated that Greece would not be able to repay the $1.8 billion owed to the IMF by the month's end. According to Reuters, U.S. stocks saw a 10 percent drop, which has not occurred since May 2011. [bold emphasis is mine - TJ]

Well guys,

I don't get it. This article says the US market crashed 10 percent, which would be about 1800 points on the Dow??????? It only was down by 108 points at the lowest, I think. WTF?

The linked Reuters article, when I open it says (unless they changed it:)

The Dow Jones industrial average .DJI fell 107.67 points, or 0.6 percent, to 17,791.17, the S&P 500 .SPX lost 9.68 points, or 0.46 percent, to 2,084.43 and the Nasdaq Composite .IXIC dropped 21.13 points, or 0.42 percent, to 5,029.97. [Bold emphasis mine again - TJ]

WTF?


#13

You go' on Greece, default on their azzez. Make all of them damn Stock Markets tumble. We'll hire Boy George to sing "I'll Tumble For Ya" while courageous governments like Iceland, Argentina, and Greece tell the fascist ogres to go straight to Hell.


#14

Exaclty. Saved me the trouble of writing it myself. The EU is simply a superstructure to facilitate trickle-up economics throughout Europe. .


#15

The austerity pushers are the ones with the ideology problem. Remember Thatcher's TINA (There is no alternative). Come on Greece, you are disrupting the 'natural' order of society with you at the bottom.

If EU oligarchic banksters won't relent, then default it is. And topple them from their precarious perches.


#16

A hedge fund co-founded by Hillary and Bill Clinton’s son-in-law Marc Mezvinsky has suffered major losses after betting big on Greece’s economic recovery.


#17

I am not as familiar with the situation in Greece as I should be. What would be the absolute worst scenario that could happen if Greece and "the negotiators" are unable to reach agreement?


#18

"Greece has a good case for repayment of this 'Odious Debt."

Considering that Germany, who has recovered financially and become a world power again after they caused major destruction to both people and structures throughout Europe, one might expect them to be liable for WWII damage claims from many countries.

Continued pressure to force austerity on Greece, etc. from the world's financial cabal, direct descendants of the Nazi Party & Associates in some cases, appears to be a continuation of that group's determination to finally establish the New World Order.


#19

totally agree, here's another zerohedge article that explains the history of your NWO argument very well:

How Obama's "Trade" Deals Are Designed To End Democracy
http://www.zerohedge.com/news/2015-06-14/how-obamas-trade-deals-are-designed-end-democracy


#20

Thanks again for the info, It appears that defeat was turned into victory with help from a few friends with benefits.
http://www.truth-out.org/news/item/27261-germany-s-unpaid-debt-to-greece-albrecht-ritschl-on-germany-s-war-debts-and-reparations


#21

thanks back at ya. just read the truthout article. many things in there i didn't know.