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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.
Why embellish? The answer is much simpler, the creditors want their money.
originally posted by: Dr1Akula
Then you missed everything my friend...
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.
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.
I missed nothing. Did they or did they not vote to NOT adhere to the creditors requests? No new laws passed, stop exaggerating.
Oh well, they voted for it, they got it.
originally posted by: Dr1Akula
Now you are just acting silly...
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...
Enjoy your own country's bankruptcy in the near future....
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.
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.
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.
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.
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.
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.
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.
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..
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.
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.
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.
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.