[civil] "Greece moves closer to eurozone exit after delaying €300m repayment to IMF "

[giblets]

Banana republic is a political science term for a politically unstable country, whose economy is largely dependent on exporting a limited-resource product, e.g. bananas. It typically has stratified social classes, including a large, impoverished working class and a ruling plutocracy of business, political, and military elites.[1] This politico-economic oligarchy controls the primary-sector productions to exploit the country's economy.

http://en.wikipedia.org/wiki/Banana_republic

An developed country like Greece can't be a "banana republic"...

[giblets]

The sad thing is, the stuff the IMF and the EU want Greece to do would probably solve their economic problems. For example, increasing the retirement age and curtailing pensions would result in fewer people retiring and the workforce expanding. That would be fantastic for growth.

That might expand the tax base in the long run, in the short run it's not going to solve a deflation and high unemployment.

[regexcellent]

It would help loads in the short run. Keeping people in the workforce increases the size of the economy increases employment etc.

[Bereta_Eder]

http://www.valuewalk.com/2015/06/grexit-eu-plan/

Reportedly both the EU and the IMF believe a Grexit is the most likely scenario and are planning accordingly. Supposedly, they believe Greece will not be able to make the combined payments to the IMF later this month; Greece is using a rule from the 1970's allowing 3rd world countries to combine multiple payments into one payment as long as it occurs in the same calendar month. Greece would have defaulted yesterday but the rule gives them a few more weeks. They are still dead men walking unless they get more bailout funds and the ECB has said it will not give any more money without reforms while the Greeks have said they will never reform.

On a more interesting note the EU is thinking about passing a national bankruptcy law of some sort but it wouldn't take effect for several years into the future so it would be too late for Greece. Greece will just get to enjoy it's 3rd world banana republic status after it gets the boot.

Is that the slogan of racist conservative muricans to try and make the other "shamed"?

Even gibl. in his first article said that greece had the money to pay, it simply didn't.


And the reason of course was to increase the pressure.

cha ching thought that comparing us with zambia somehow would shake me.


You are pitiful.


And I firmly believe that in order for civilization to excel against the likes of you russian nuclear missiles shoud be squaring again in washngton.

You see, we know that you are a by product of colonial past that is based on racism (and since cha chinh espouses it, why does he get upset?)


we know you don't have health care because your racism permits you not to care for your minorities.


We know all that.

And something else.

I was talking about how Latvia is now. COmpletely destroyed with no infastructure, no public schools no public health. A small scared america.

[Bereta_Eder]

btw your link is 3rd grade and will be disproven again, and again.

When I say so, then there will be the grexit.

[giblets]

It would help loads in the short run. Keeping people in the workforce increases the size of the economy increases employment etc.

Making it harder to retire isn't going to have much of an effect on aggregate demand. The size of the workforce only determines the level of employment over time frames that are long enough for neutrality of money to hold.

[regexcellent]

Demand isn't the issue, it's production.

[C0ckney]

could you explain what you mean by that?

[giblets]

Demand isn't the issue, it's production.

You know Greece has deflation and high unemployment right? How could demand not be the issue when a quarter of your workforce is unemployed and the price level is falling?

[Bereta_Eder]

Is that the slogan of racist conservative muricans to try and make the other "shamed"?

Even gibl. in his first article said that greece had the money to pay, it simply didn't.


And the reason of course was to increase the pressure.

cha ching thought that comparing us with zambia somehow would shake me.


You are pitiful.


And I firmly believe that in order for civilization to excel against the likes of you russian nuclear missiles shoud be squaring again in washngton.

You see, we know that you are a by product of colonial past that is based on racism (and since cha chinh espouses it, why does he get upset?)


we know you don't have health care because your racism permits you not to care for your minorities.


We know all that.

And something else.

I was talking about how Latvia is now. COmpletely destroyed with no infastructure, no public schools no public health. A small scared america.

And let me expand on that and by pass that silly grocery list complain about prices.
The issue is much bigger.


Ever since the '90s the power of your butchering empire has declined. It is impossible to keep ****ing people up with the same intensity as before without the help of europe.

Now there is europe that was made into the european union and was based on three pillars. Human rights, democracy, social state.

THIS european union is of course increasingly devoided of all that.
For historical reasons it fell on a handful of countries to set things straight and they will.

There is a fundamental difference that your tiny mind can't grasp. And that is how controlling the markets preserves democracy. How putting people first, guarantees a non authoritative state where people don't get shot point blank by police simply because your society is such a ****ing jungle you don't know which way the sun shines.


But that's fine.

It's when you try and export that model that things get ugly. And some "lightbulbs" in here thought, erroneously, that they can perverse the three pillars of the EU turn her into a silly accomplish of the likes of you and still keep going.

Your incapability to run things and peoples' just rights will simply blow your whole scheme to pieces.


Enjoy, it's already here.

[regexcellent]

The same thing happened in Estonia, which simply stayed the course and the problem worked itself out within a year because people got hired back at lower salaries. Then the economy recovered to its original size within months.

If you eliminated regulatory requirements like minimum wage, curbed the power of unions, etc. then Greece would be able to pull the same thing off.

You'd need a pretty drastic change to Greek society, but quite frankly, that's needed no matter how you slice it.

[Bereta_Eder]

Estonia has the 5th largest drug addict problem in the world.
It's used as a cheap liquor base for drunken fins to buy booze and get hammered traveling in buses on a saturday night.

Another success story of austerity and dismantrling of any sense of a civilized state.
I think I'll pass.

They are excused though because they are used as a pawn in this geopolitical game there is running.
Sometimes you just can't do anything about it. But preserve it in memory for future use.

[Bereta_Eder]

http://www.spiegel.de/forum/wirtschaft/griechenland-verhandlungen-und-tsipras-kann-doch-gewinnen-thread-300469-1.html

I like to piss off that racist scum.

Here's dinner today's (or tommorow's maybe one of our german posters can say) article of spiegel.


Let me tell your peanut conservative racist murican brain: spiegel = somewhat serious, the antithesis of bild, telegraph and other rags.

Fine so good?
Good.

Now I don't speak a word of german but apparently the columnist says that tsipras stategy was brilliant, that ELA has ammased another 100 mil. exposure to greece and that not only the deal will be struck, there is also going to be a debt reduction schedule.



Now you have to learn something about life.

Nothing is been given for free. You are right? They still going to **** you over if you don't carry a machine gun (sorry to our pacifist cockney)

You **** them up with the very weapons they prohpesize they uphold? demoracy, rule of law, dignity, human rights?

You win.

[regexcellent]

Estonia has the 5th largest drug addict problem in the world.
It's used as a cheap liquor base for drunken fins to buy booze and get hammered traveling in buses on a saturday night.

Another success story of austerity and dismantrling of any sense of a civilized state.
I think I'll pass.

They are excused though because they are used as a pawn in this geopolitical game there is running.
Sometimes you just can't do anything about it. But preserve it in memory for future use.

I was there three days ago. The place is very nice, even outside of Tallinn. So what if Finns buy booze there. The crime rate is very low, and the economy is doing well.

[Hauldren Collider]

I promised an article about the outstanding mayhem the baltics had to endure while they are dragged around town as success stories of austerity (in some small percentage of countries susceptible enough)

This is not the article I wanted but it is close enough.

http://www.craigwilly.info/2013/04/14/baltic-austerity-successes-or-how-to-easily-reduce-unemployment-by-exiling-10-of-your-population/

Bare in mind that in order for such financial genocides to occur you have to have a threat of an external power (russia) and a population "conditioned" to accept authoritarian regimes.

It's a tragedy that even saras keeps thumping his chest against russia when his people are dying and not by putin...



I promised something for iceland, it will be forthcoming

People in Estonia that I talked to seemed fairly happy with how their government handled the recession. In the meantime, shortly they will probably be richer than greece. Particularly when you consider much of Greece's wealth is based on the phantom productivity of unsustainable borrowing. Maybe try taking a leaf out of their book?