Dear Greece, On the List of Things Not To Do: (Part II!!!!)
MsMorrisine
Posts: 33,019 ✭✭✭✭✭
Wow.
I am all for referendums.
But
this seems like what Iceland did.. they put "deal or default" to a vote. I realize an unofficial default is part of Greece's deal... but it is an outside deal. Iceland was just deciding if they should do their own thing (default) or not (austerity).
But
Iceland has only 250k - 300k citizens and a lot smaller global financial footprint.
Two months plus to "decide if they want to default or not" is totally ridiculous. They risk worsening the global economy and thus their own economy and recovery... although their own recovery would be made a lot easier if ... after two plus selfish-waiting months... they decide to default.
Sweet Greece!
Can't work some overtime to get this to the polls in a week???? Ridiculous. You've found a new way to screw the rest of us.
I am all for referendums.
But
this seems like what Iceland did.. they put "deal or default" to a vote. I realize an unofficial default is part of Greece's deal... but it is an outside deal. Iceland was just deciding if they should do their own thing (default) or not (austerity).
But
Iceland has only 250k - 300k citizens and a lot smaller global financial footprint.
Two months plus to "decide if they want to default or not" is totally ridiculous. They risk worsening the global economy and thus their own economy and recovery... although their own recovery would be made a lot easier if ... after two plus selfish-waiting months... they decide to default.
Sweet Greece!
Can't work some overtime to get this to the polls in a week???? Ridiculous. You've found a new way to screw the rest of us.
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
MFGlobal is kind of like the cancer that springs up in another organ after the first goes into remission.
Apprently the ESEF was good for 96+ hours of happy markets. The halflife on this stuff gets shorter and shorter....
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Why do I get the sinking feeling that the US Treasury is going to somehow be involved?
I knew it would happen.
Get re-elected and seek less austerity measures for the Greek people.
That sinking feeling you are experiencing Jimski is real. QE to infinity, says Sinclair.
Miles
<< <i>The rot needs to be flushed from the system before the system can begin healing.
Why do I get the sinking feeling that the US Treasury is going to somehow be involved? >>
The amount of their involvement will be directly related to the quantity of Greek debt held by the too big to jail US banks.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The rot needs to be flushed from the system before the system can begin healing.
Why do I get the sinking feeling that the US Treasury is going to somehow be involved? >>
When Europe said the IMF would get involved, they meant the USA.
Knowledge is the enemy of fear
Yepper, took the banksters boyz right out of the equation.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Box of 20
<< <i>Just heard something funny on Squawk.....Greece to Civilization " We brought you into this world and we can take you out" >>
Funny!
I think most eyes are shifting to Italy. We'll see.
Box of 20
Box of 20