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Greece about to default

Jeffg010

Jeffg010

Diamond Member
http://news.yahoo.com/greece-issues-fresh-warning-imf-payment-june-115223346.html

Come June 5 they will default, They owe 1.6 billion euros. The IMF, the European Union and the European Central Bank can bail them out but they want Greece agree to economic reforms that the creditors want in exchange for the rescue funds but they won't budge.

Also "We have done what we ought to do, now it's Europe's turn to do so," Prime Minister Alexis Tsipras

That Prime Minister is a tard.
 
maybe they can have massive immigration and social spending to jump start their economy..isn't that working like a dandy for the US??
 
Problem is most people in Greece also prefer the Euro since they remember back in the days when the government could print Drachmas. No petrodrachma for the Greeks unless they plan on building 700 military bases around the world.
 
IGBT said:
maybe they can have massive immigration and social spending to jump start their economy..isn't that working like a dandy for the US??
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You clearly know absolutely nothing about the situation in Greece except for the talking points that have been drilled into your brain by your masters.

Greece doesn't have the ability to print their own currency and are subject states to the European Union. Unlike the United States, that controls its own currency and can only go bankrupt if idiotic politicians allow idiotic laws to exist to allow the government to choose to default on its debt as a political stunt.

Subyman said:
They could if they withdrawal. Not that anyone would recognize their currency though 🙂
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If Greece were to withdrawal from the European Union and go back to printing their own currency, it would be accepted as a currency, just as there was a Greek currency before the Euro.

Of course, Germany (European Union) doesn't want Greece to withdrawal, as Greek membership in the European Union gives Germany defacto control over Greece.
 
Zorkorist said:
18 Trillion Dollars in debt, America is only a "debt call," away.

-John
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The US has a fiat currency. That means that there is no "debt call".

US bonds are paid as long as idiots don't play idiotic games causing an intentional default on the "debt", which is simply an accounting ledger anyway.
 
Of course there is. If I want my money back, and if the contract states I can have my money back.

That's a debt call.

-John
 
Zorkorist said:
Of course there is. If I want my money back, and if the contract states I can have my money back.

That's a debt call.

-John
Click to expand...

The "contract" doesn't say that for US debt. If you knew as much as you think you know you'd know that.

But please, do show us this imaginary "debt call" in US Treasuries. I think it's right next to where it says in the "contract" - "The Anandtech Political Forum poster known as Zorkorist is a fucking moron".
 
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