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  • A Greek challenge for 'Mr Europe' Juncker

    From reuters.com

    It's sultry early July and an emotional Jean-Claude Juncker is on the stump, calling for a 'Yes' vote in a referendum on which he says hangs the future of Europe - and his own career. "A 'Yes' ... would have a significance ... well beyond Europe," he tells voters. "We can show we're getting moving again, that the process of European unification goes on." Only, the EU chief executive isn't addressing Greeks before Sunday's vote. This was 2005 and Juncker was addressing his fellow Luxemburgers. As their prime minister, he was pleading for support in a referendum he had called - with no legal need - to demonstrate ... (full story)

EU chief: Greeks will need a new currency after 'No'
AEP: one of big four banks on brink of collapse
It's becoming painfully obvious that the European project is doomed without a U.S. style federal European taxation system. Alabama and California are poles apart , California puts more in the pot , Alabama takes out more (in the UK , England contributes the Lions share, Wales, Scotland and N.I. take out more)

Question is, would Germany do the same for their partners in the EU , not a chance is the answer

Therefore , the EU & Euro are now on borrowed time , and Germany would do well to remember Deutsche Banks derivative black hole will take down the entire German economy in a second flat and if the EU breaks up a Fiat 500 would cost USD 6,000 and a VW Polo USD 16,000 within days of currency break up, now, which car would I buy ?

Reach deep Germany or face an unpleasant reality

Best of luck Greece
Is Greece putting in anything?
1 month ago nobody believed it will come to Greece default and bank closure. Everyone was quite optimistic the deal will eventually come and Greek government will resume it's wild overspending like the last 30 yrs. Yet the unthinkable happened and now the next unthinkable events will take place - bank deposit haircuts, full default, Greece leaving the Eurozone with a lot of noise - and eventually Greece will become one of the poorest EU members (where it was back in the 80s and where it belongs). Basically all that confirms Greece was never worthy to be on the "rich dinning table" in the first place. Now things will come to their logical way, Europe will hikup and 5 yrs from now Greeks will have forgotten about the 14 pensions, salaries, whatever, and start to live within their means. It is simple as that.
With no vote win, that mean eu is abandoned greece.. this is the massage from juncker... well done eu chief..
Peace Yo!
Quoting Elisabeth
Is Greece putting in anything?
Ouzaki of course - you should be grateful :-).
No vote win, greece people sending message to eu that they want a better deal... game is on to fellow creditor..
Peace Yo!
A drop of good Ouzo is not to be declined....
Quoting mrluckystar
No vote win, greece people sending message to eu that they want a better deal... game is on to fellow creditor..
I don't see any winning faces last week at the ATM lines. Do you?

Yes it would perhaps send a message - but this mean what exactly - automatic debt forgiveness and more money so greek public workers and pensioners can get their 14 salaries/pensions per year again? I hardly think so :-).
"They want a better deal"..... In a negotiation, he who has the leverage wins. One side has no money, and can not pay back what they have already borrowed (while still not addressing internal problems that create the need to borrow) AND need to borrow much more ....... The other side controls the past debt and the tap to further assistance. Anyone that thinks that Greece can gain any negotiating power by this ridiculous referendum is delusional.
No one forces Greece to accept any more help. Normally the creditor sets the conditions...Usually the creditor(s) call it a day when they deem the recipient unable to service its obligations which is called bancruptcy.
As Greek pride is such a big argument for Syriza for today's plebiscite - is it a sign of pride and dignity to make oneself dependent on others, to insist on carrying on with no change? Greece has had years to bring about internal restructuring and could have moved a long way towards success but OXI....
Many people seem to be be delusional....
Quoting panamamike
"They want a better deal"..... In a negotiation, he who has the leverage wins. One side has no money, and can not pay back what they have already borrowed (while still not addressing internal problems that create the need to borrow) AND need to borrow much more ....... The other side controls the past debt and the tap to further assistance. Anyone that thinks that Greece can gain any negotiating power by this ridiculous referendum is delusional.
I was about to say this exactly. The little leverage the Syriza clowns had - they lost it for good on 25 June - I just wonder how didn't anyone here noticed the tone change in Eurogroup and high EU officials.
Quoting Elisabeth
Many people seem to be be delusional....
You find that surprising?
No....
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  • | IP XX.XX.79.20
Greeks has no chance to win anymore and Syriza will be the biggest loser out of this. The day that they decided to go for the referendum is the day that they destroyed their movement which had no plans of what to do if the EU won't compromise a lot. And as expected by the logical minds that the EU kept its position strongly. Otherwise they would let the rise of similar socialist moves in Spain, Portugal and Italy. And it would be the end of EU game.

On the other hand, it can be the beginning of a new era for Greeks and even they can continue with Euro. Refuse to pay any penny to any creditor. And keep a current and capital surplus and you can continue forever. And they can do even better if they decide to work a bit more and save more for future. It won't be very hard to stand up again after erasing a huge debt. The government should follow a strategy that will not let the government to get any debt at all. And they can continue as a country without any debt. The more taxes they collect, the more they can spend for social security etc.. So they will learn to live with their own means not with loans.
Hoje vamos todos para o caralho
Quoting takytto
Hoje vamos todos para o caralho
Same to you
Quoting michaelpelly
I was about to say this exactly. The little leverage the Syriza clowns had - they lost it for good on 25 June - I just wonder how didn't anyone here noticed the tone change in Eurogroup and high EU officials.
Hej michaelpelly
I can see you are an expert with the Greek crisis!!!
And your analysis is accurate like a GPS
How you do that ? Like a vision after chewing leaves?
Or you are consulted by the stars ? I know that all Bulgarian
Roma get these abilities....... You get a real gypsy heart buddy!!
This is gettin
Quoting tranco
Hej michaelpelly
I can see you are an expert with the Greek crisis!!!
And your analysis is accurate like a GPS
How you do that ? Like a vision after chewing leaves?
Or you are consulted by the stars ? I know that all Bulgarian
Roma get these abilities....... You get a real gypsy heart buddy!!
This is getting personal now
Quoting tranco
Hej michaelpelly
I can see you are an expert with the Greek crisis!!!
And your analysis is accurate like a GPS
How you do that ? Like a vision after chewing leaves?
Or you are consulted by the stars ? I know that all Bulgarian
Roma get these abilities....... You get a real gypsy heart buddy!!
For starters - I'm intelligent enough to avoid fairy tales and radical politicians. I'm quite familiar firsthand with Greeks and their attitude toward paying their bills.

And because you seem to miss several classes in school (basically the average social culture of the Greeks is 1/10, 10 being the highest) - to explain to you that Bulgarians have mongolic-asian (small but warrior tribe), Slavic and Tracian origins. While Roma came couple centuries ago with the invasion of the Ottoman empire on the Balkans.
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Greek was seen below it should be open 1.0950 and next target is 1.0905 and if this position open and next position will be 1.0849
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