RunRyder RC
WATCH
 1 page 390 views POST REPLY
HomeOff Topics News & Politics › What would it mean for us if they let Greek go under...?
06-27-2015 06:11 PM  3 years agoPost 1
es1co2bar3

rrKey Veteran

winnetka california

My Posts: All  Forum  Topic

EU rejects Greek bid to extend

The talks in Europe over how to save Greece from defaulting on its bailout loans have broken down.

On Saturday, after Greece refused to accept the Eurozone's latest proposal, European finance ministers rejected the troubled nation's request for a one-month bailout extension.

"Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off ... negotiations," a statement from the finance ministers said.

Greece faces a hard deadline on Tuesday for making a payment to the International Monetary Fund, one of its main bailout lenders. If it doesn't make that payment, Greece will become the first developed country to default on the IMF.

The brinksmanship took a sharp turn on Friday, when the Greek government threw out the bailout proposal from its international creditors.

The latest developments put the country's future in the euro on the line.

After weeks of talks, Prime Minister Alexis Tsipras said he could not accept the terms being offered by Europe and the IMF. He said he would recommend that Greeks vote against them in a referendum on July 5.

That brought an abrupt end to a series of discussions aimed at finding a way for the creditors to release the remaining 7.2 billion euros of Greece's huge bailout, in return for budget savings and economic reforms.

Now European leaders seem to be turning to a Plan B -- focusing on how to mitigate the damage of a Greek default.

"The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area," the finance ministers said Saturday.

Related: 11 faces of Greece's euro dilemma

The prospect of a default may force the European Central Bank to curtail the emergency funding that has been keeping Greek banks afloat while account holders withdrew tens of billions of euros.

The ECB was reported to be planning to an emergency call Sunday to discuss funding for Greek banks. The outcome of that meeting could determine whether Greece will have to limit cash withdrawals starting on Monday.

Twitter users in Athens were already reporting signs of lengthening queues outside ATMs in the early hours of Saturday morning.

Left-wing leader Tsipras was elected earlier this year on a promise to end austerity. But Europe and the IMF have largely stuck to their guns, arguing that Greece needs to generate surpluses so it can service its enormous debts.

European governments are caught between trying to find a way to help Greece recover from five years of crisis, and concerns among their own voters about throwing good money after bad.

Tsipras said the demand by the bailout lenders for more labor market reform, cuts to pensions and public sector wages, and increases in taxes on food, restaurants and tourism amounted to an attempt to humiliate "the entire Greek people."

"These proposals mainly highlight the insistence of the IMF on harsh and punitive austerity," Tsipras said on Greek TV.

The Greek government has been negotiating with its creditors over the terms of the bailout agreement for four months.

While Tsipras disapproves of the new bailout plan, he said he would respect the way the public votes on July 5.

But by then it may be too late. The existing bailout agreement expires on Tuesday, and it's almost impossible to imagine Europe agreeing to extend given the Greek government's resolute opposition to its proposals.

I was waiting on some honey but there aren't no Queen bee,

PM  EMAIL  GALLERY  Attn:RR  Quote
06-28-2015 02:01 PM  3 years agoPost 2
Dennis (RIP)

rrApprentice

Oregon

My Posts: All  Forum  Topic

It's said that if Greece defaults, they will be thrown out of the European Union.

Liberty once lost, is lost forever.

PM  EMAIL  GALLERY  Attn:RR  Quote
06-28-2015 02:11 PM  3 years agoPost 3
baby uh1

rrVeteran

St. James, Mo.

My Posts: All  Forum  Topic

Socialism at it's finest! We are heading for the same fate.

Anything is possible if you don't know what you are talking about!

PM  EMAIL  GALLERY  Attn:RR  Quote
06-29-2015 11:30 AM  3 years agoPost 4
shawmcky

rrElite Veteran

Isle of Wight,United Kingdom

My Posts: All  Forum  Topic

Watch the stock markets!

Team- unbiased opinion.K.I.S.S principle upheld here

PM  EMAIL  GALLERY  Attn:RR  Quote
06-29-2015 11:46 AM  3 years agoPost 5
G.Stone

rrApprentice

Thompson, Pa. USA

My Posts: All  Forum  Topic

Democracy at its finest....they're going to "vote" if they should pay their debts. How ridicules can this world get? Of course they should pay back the money THEY borrowed!
Screw the agreement they made, to heck with the laws. Let's vote on it.......
And the UE gonna through them out? That should strengthen their position,.... NOT.

Let your children "vote" on what's for diner...enjoy the cotton candy and gummi bears.

PM  EMAIL  Attn:RR  Quote
06-29-2015 12:39 PM  3 years agoPost 6
fla heli boy

rrElite Veteran

cape coral, florida

My Posts: All  Forum  Topic

well.... that's why we have Oblowme..... but I digress...

PM  EMAIL  GALLERY  Attn:RR  Quote
06-29-2015 01:09 PM  3 years agoPost 7
Dennis (RIP)

rrApprentice

Oregon

My Posts: All  Forum  Topic

The Greeks have been borrowing money to make payments on borrowed money to support a heavily socialist economy.

Anyone with any common sense knows what the end result if that will be.

Liberty once lost, is lost forever.

PM  EMAIL  GALLERY  Attn:RR  Quote
06-29-2015 04:22 PM  3 years agoPost 8
shawmcky

rrElite Veteran

Isle of Wight,United Kingdom

My Posts: All  Forum  Topic

http://rt.com/business/270325-greece-debt-market-slump/

Team- unbiased opinion.K.I.S.S principle upheld here

PM  EMAIL  GALLERY  Attn:RR  Quote
WATCH
 1 page 390 views POST REPLY
HomeOff Topics News & Politics › What would it mean for us if they let Greek go under...?
 Print TOPIC  Make Suggestion 

 3  Topic Subscribe

Thursday, October 18 - 1:33 pm - Copyright © 2000-2018 RunRyder   EMAILEnable Cookies

The RC discussion world needs to consolidate. RR is now one choice for that. Its software is cutting edge. It hosts on-topic advertising. Help RR increase traffic buy making suggestions, posting in RR's new areas (sites) and by spreading the word.

The RunRyder Difference

• Category system to allow Rep/Vendor postings.
• Classifieds with sold (hidden) category.
• Classifieds with separate view new.
• Answer PMs offsite via email reply.
• Member gallery photos with advanced scripting.
• Gallery photo viewer integrated into postings.
• Highly refined search with advanced back end.
• Hosts its own high end fast response servers.
• Hosts thousands of HD event coverage videos.
• Rewrote entire code base with latest technology.
• No off-topic (annoying) click bait advertising.
Login Here
 New Subscriptions 
 Buddies Online