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Greece votes 'no' to EU bail out - GREXIT?

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posted on Jul, 5 2015 @ 05:28 PM
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This could spell major economy disaster...others bound to follow and the Euro took a big hit all ready.




posted on Jul, 5 2015 @ 05:37 PM
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originally posted by: AugustusMasonicus

It would appear that no one forced them to accept any new laws unless we all just missed something.


Then you missed everything my friend, and u should do some research, Until the referendum, it was a blackmail situation all these 5 years, either you accept our (loan) deal, or since you don't have your own momentary since you have euros, we stop the cash flow, and let you bankrupt




Why embellish? The answer is much simpler, the creditors want their money.


Which they already admitted they can't get... since their austerity deals don't leave any room for Greek economy to get better, it actually gets worse and worse and Greece ends up with more Debt every 6 months since 2011.

Do a research about how Greece got into the euro currency.....
There is a sea of propagated info, across many big private owned media and rightfully so,
since most of today's wars are won mainly by information, even the economic ones!

edit on SunSun, 05 Jul 2015 17:42:30 -05001PMk000000Sundaypm by Dr1Akula because: (no reason given)



posted on Jul, 5 2015 @ 05:40 PM
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originally posted by: Dr1Akula
Then you missed everything my friend...


I missed nothing. Did they or did they not vote to NOT adhere to the creditors requests? No new laws passed, stop exaggerating.



Which they already admitted they can't get... since their austerity deals don't leave any room for Greek economy to get better, it actually gets worse and worse and Greece ends up with more Debt every 6 months since 2011.


Oh well, they voted for it, they got it.



posted on Jul, 5 2015 @ 05:48 PM
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originally posted by: ketsuko
a reply to: Soloprotocol


Everyone was all for the party until the bills came due. Unless you can show me that the people had this done to them against their wishes with no votes on their part, then it is partially their doing over the long haul.



unfortunately the people don't get to vote on every decision that government makes, not even 10%, so I do think the policy makers are accountable for their decisions, after all they are employed to make the best decision in the interest of the people.



posted on Jul, 5 2015 @ 05:52 PM
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a reply to: AugustusMasonicus




I missed nothing. Did they or did they not vote to NOT adhere to the creditors requests? No new laws passed, stop exaggerating.


Now you are just acting silly, Only today they voted for that, Because this is the first Government that isn't corrupted to be bribed and doesn't accept to be blackmailed either. That's why they suggested this referendum, the first one in recent Greek history!

and today's referendum was the result of a blackmail 1 week earlier, with other ''blackmails'' being used the past 5 years



Oh well, they voted for it, they got it.


Still in silly mode?

It's ok if u don't want to listen but back up your answers with arguments instead behaving like a child...

that's it I'm off I have better things to do...

Enjoy your own country's bankruptcy in the near future....



posted on Jul, 5 2015 @ 05:57 PM
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originally posted by: Dr1Akula
Now you are just acting silly...


You said new laws were passed, what were they?




Still in silly mode?


Nothing silly about it, they voted for every single thing that has to do with their ruinous fiscal and social policies. They lived unsustainably for decades and not one Greek should be surprised at the outcome.


It's ok if u don't want to listen but back up your answers with arguments instead behaving like a child...


So anyone who does not agree with your position is a child? That is actually the childish position.


Enjoy your own country's bankruptcy in the near future....


Maybe, maybe not. We have a really long way to go before we approach a Greece-like situation.



posted on Jul, 5 2015 @ 05:57 PM
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a reply to: crazyewok

Ya I think you are right on some of your points about them being ready for the Greek collapse. Germans are long sighted and prepare for the worst.



posted on Jul, 5 2015 @ 05:57 PM
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originally posted by: baburak
a reply to: theabsolutetruth


It was stupid of government to hold this plebiscit without admitting the truth what it really means. They said that NO means the end od austerity and that banks will open on Tuesday. Which is a lie. With NO, ECB will cut it's emergency lifeline and Greek banks will default one after another. Money will be "confiscated" and Greece will be in a depression. With banks closed their imports/exports are on hold and Greece will need not money, but food and medicine in a matter of weels. Tsipras lied to the people and destroyed their future.


no they just said they are keeping the emergency lifeline.



European Central Bank policy setters are likely to maintain emergency funding for Greek banks at its current restricted level, people familiar with the matter have told Reuters, following Greece's rejection in a referendum of bailout conditions.

Such a move would give Greek banks little time before they use up all of the roughly 89 billion euros of funding available and ensure that they remain closed for at least the coming days.

But it would avoid the drastic option of withdrawing existing support, a measure that would trigger their immediate collapse.

link



posted on Jul, 5 2015 @ 05:59 PM
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a reply to: Cobaltic1978

We are going too much off the topic. I was asking you to bring the source of your claim that "Russia already stepped in"

Tzipras was attending last month St. Petersburg economic forum, officially nothing substantial comes out of this, any news since ?



posted on Jul, 5 2015 @ 06:01 PM
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a reply to: theabsolutetruth

Greece should have voted yes. How foolish of the majority to vote no.

They have made their bed. Now they must lie in it. Someone needs to swallow their pride.



posted on Jul, 5 2015 @ 06:36 PM
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the Greek people are rejecting a IMF/BIS/WORLD BANK bail-out with un-desirable 'Austerity' measures...
because the Greek government went through the Restructuring of their 'debt' so that they could afford to make payments for the next +20 years

the Greeks... I am pretty certain hired the USA firm Goldman Sachs to 'get their financial mess out-of-the-hole'
so the Greeks paid [NYSE: GS] a sizeable amount of money to 'correct' the Greek Debt Problem...back in 2010-2012

heresay has it... all GS did was to create a bundle of credit default swaps/derivatives that had to be sold to other EU community nations and ultimately the 'debt' did not suddenly become sustainable (as was the promise of those shrewd banker elites)

...in fact the private firm [GS, or whatever] made-out-like-bandits even as the Greek Govt fell deeper into debt, in the long run
( a promised 20+ year fix turned sour in under 3 years ! )

I am not hearing much about the Greek Govt claim that they were swindled by GS or whatever Capitalist Predator sold them the scam...and the Greek Govt still claims that result is their current DEBT is 'onerous' and created from fraud arrangements so the 'debt' is uncollectable !

the MSM are cohorts in this scam by 'keeping it all quiet' and not exposing the bankers/financiers as scam artists


 


hey guys, don't take any Euros folding money that has a 'Y' in the serial number...

as those Notes were issued from Greek printing orders ~~~ and it is highly likely that the EU will deem the 'Y' Euro fiat money a worthless like Confederate Dollars in the USA are now
edit on th31143614041905532015 by St Udio because: (no reason given)



posted on Jul, 5 2015 @ 07:19 PM
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a reply to: crayzeed

Don't forget Ukraine. Oh and Germany and Japan after WWII....



posted on Jul, 5 2015 @ 07:44 PM
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originally posted by: ChiefD
a reply to: theabsolutetruth

Greece should have voted yes. How foolish of the majority to vote no.

They have made their bed. Now they must lie in it. Someone needs to swallow their pride.



Swallow their pride?

That’s the problem their not swallowing enough food!



posted on Jul, 5 2015 @ 07:47 PM
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BRAVO for the Greek people! This will be very interesting to watch as Russia swoops in wearing the Superman cape to rescue Greece.

This vote was a victory for sovreignity, a defeat of globalism, and a decision that was well past due. Hopefully the rest of Europe joins suit and Germany's EU can die the death it deserves.




posted on Jul, 5 2015 @ 07:57 PM
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It turns out the Greeks paid GS big bucks to devise something called a Cross currency swap.

www.investopedia.com...
Sounds like a scam already!




TGreece's debt managers agreed a huge deal with the savvy bankers of US investment bank Goldman Sachs at the start of 2002. The deal involved so-called cross-currency swaps in which government debt issued in dollars and yen was swapped for euro debt for a certain period -- to be exchanged back into the original currencies at a later date.


Fictional Exchange Rates


Such transactions are part of normal government refinancing. Europe's governments obtain funds from investors around the world by issuing bonds in yen, dollar or Swiss francs. But they need euros to pay their daily bills. Years later the bonds are repaid in the original foreign denominations.


It basically, as they did it, hid a lot of the Greek debt and when later the swaps weren’t as they expected and they apparently got burned.

Here's a more in-depth analysis on the problematic deal with GS




Greece will burn economically because of financially engineered, grifted ways and it most definitely will not be the only country in the EZ to do so. I have made this unequivocally clear since February of 2010, over two years ago -reference the Coming Pan-European Sovereign Debt Crisis.


The Goldman Grift Shows How Greece Got Got

www.zerohedge.com...
On the day the 2001 deal was struck, the government owed the bank about 600 million euros ($793 million) more than the 2.8 billion euros it borrowed, said Spyros Papanicolaou, who took over the country’s debt-management agency in 2005. By then, the price of the transaction, a derivative that disguised the loan and that Goldman Sachs persuaded Greece not to test with competitors, had almost doubled to 5.1 billion euros, he said.


www.zerohedge.com...


I hate to say it, but if you're foolish enough to listen to the most profitable bank tell you not to say thing to anybody else about said deal, then you may deserve what's coming to you. If there are any sovereigns or any other entities reading this and you find yourself in a similar situation, I suggest yousimply contact me. For those who aren't familiar with me and my ability to sniff things such as these out, I urge you to ask the question,Who is Reggie Middleton?I'll independently review the deal for you and give you the T-R-U-T-H! You know, its been a while since I've seen that word in articles such as these. Another damn shame. There should be plenty of opportunity for me to discuss this, for Greece is definitely not the only European entity to be diagnosed with a chronic case of Goldman's financially engineered derivative product indigestion, referenceSmoking Swap Guns Are Beginning to Litter EuroLand, Sovereign Debt Buyer Beware! So, I'll be looking forward to hearing from, and visiting you France, Spain, Italy, Portugal, Ireland, Belgium..



So GS was owed originally almost 800millllion for its services way over what Greece had borrowed…so they created a creative derivative that disguised THE HUGE FEE

it didnt work and their huge debts acculmulated into the strateshere


GS made out like a fat rat getting almost 5 billion EU for some bad advice!




Papanicolaou and his predecessor, Christoforos Sardelis, revealing details for the first time of a contract that helped Greece mask its growing sovereign debt to meet European Union requirements, said the country didn’t understand what it was buying and was ill-equipped to judge the risks or costs.



posted on Jul, 5 2015 @ 08:56 PM
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a reply to: theabsolutetruth

Rothschilds aren't gonna be happy. Watch this space for war and domestic terrorism.



posted on Jul, 5 2015 @ 10:51 PM
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originally posted by: burdman30ott6
BRAVO for the Greek people! This will be very interesting to watch as Russia swoops in wearing the Superman cape to rescue Greece.

This vote was a victory for sovreignity, a defeat of globalism, and a decision that was well past due. Hopefully the rest of Europe joins suit and Germany's EU can die the death it deserves.





Can Russia afford another country..........Russia is having huge financial issue now......Russia will do nothing. The Greeks should save themselves.........


Default and re-write the constitution putting individual liberties first. Model it after the US constitution and than actually follow it.



posted on Jul, 5 2015 @ 11:00 PM
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a reply to: xuenchen


In Greece, the domestic banks got more than $30 billion of bailout from the Greek people. Let that sink in for a moment – the supposedly irresponsible Greek government had to bail out the hardcore capitalist bankers.


That bailout was a joke. There is no reason big corporations needed to be paid billions of dollars from taxpayers across the globe to reward them for their corruption. They should have been forced to fail and take responsibility for their actions.

Of course, that is what happened in Iceland and the Iceland economy is recovering faster than most others.
edit on 05pmSun, 05 Jul 2015 23:00:43 -0500kbpmkAmerica/Chicago by darkbake because: (no reason given)



posted on Jul, 5 2015 @ 11:05 PM
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originally posted by: burdman30ott6
BRAVO for the Greek people! This will be very interesting to watch as Russia swoops in wearing the Superman cape to rescue Greece.

This vote was a victory for sovreignity, a defeat of globalism, and a decision that was well past due. Hopefully the rest of Europe joins suit and Germany's EU can die the death it deserves.



Russia can't just swoop in and save the day. We are talking about 50+ billion euros just in the coming months and a major hit on the international trade (banks are closed and about to default) and a major hit on the tourism in the coming months. So the real number is much bigger than just 50 billion euros. Russia can not afford to "lose" that much money and even if it could, it would be months or at least weeks before they could give them money. Greece have days to find it!

Vote would be a victory for sovreignity if people knew what they were voting for. People thought they were voting for the end of austerity and better days in the matter of hours (48, said Tsipras and Varufakis). Tsipras and Varufakis lied that banks will reopen on Tuesday and crisis will be over if they voted against EU. THEY LIED! Instead they will take peoples money from banks, money that was hard earned during their lifetime, just to please creditors and to try to get better deal from EU, not Russia.

Why I don't take part in the #Greferendum
edit on 5-7-2015 by baburak because: (no reason given)



posted on Jul, 5 2015 @ 11:32 PM
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McKinsey Institute says global debt is $199 trillion or $27,000 for every man. woman and child living today but that money is created out of thin air by banks which in effect devalues fiat, so all fiat owners have already paid for their dues. But bankers being the true bloodsuckers of our economy want every last drip of blood we have and won't rest until they win or we revolt.

Good on Greece for saying NO.



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