Is it the end of the Euro and How Can We Borrow Them Money?
I cant see the banks borrowing them money.

I don't care as long as I can have cheap holidays there again 😉

I'm going there in three weeks. Will this mean my holiday will be cheap as? Might buy some new windsurfing kit then.

How Can We Borrow Them Money?

Don't you lend money to people, and borrow it from them?

Of course it isn't the end of the euro because we will bale them out with buckets of cheap credit should push come to shove. Angela can't be seen to be doing it too willingly so it will go down to the wire. Besides, the coutries that lend can make a few bob: they'll borrow money from me at French OAT and German Bund rates and lend it to the Greeks at a percent or so more which will still save the Greeks enough in intereset repayments to get back on track while providing a tidy profit for France and Germany.

That's all well and good, but will I get a new board on the cheap?

Ironing boards will definitely be more expensive in England once currencies have fully adjusted to the new economic order.

"We" won't be lending them money, the other Euro zone countries and the IMF will. But only on the condition that they stop spending money and get things under control no matter how painful.

Like happened in Britain when Callaghan had to go to the IMF in 1976.

They currently are 300bn in debt and increasing every second, I can not see things getting better there for 1o years +

We'd best hang onto the Marbles then. If we give them back they'll be on E-Bay inside the hour!

Welcome to the Euro…

But only on the condition that they stop spending money and get things under control no matter how painful.

Like happened in Britain when Callaghan had to go to the IMF in 1976.

Or even better………….. like happened in Greece under the Conservatives.

The Greeks are up shit creek without a paddle precisely because the Greek right-wing conservative government totally screwed up the economy. Obviously they were kicked out a few months ago and now the Socialists are left to pick up the pieces. But don't go blaming Jim Callaghan ffs.

"We" won't be lending them money, the other Euro zone countries and the IMF will.

So you will then: "largest IMF quota-holders (the United States, Japan, Germany, France, and the United Kingdom)"

And to ask the question that still hasn't been answered: is my Greek holiday now going to cost me a fortune or will it be cheap as chips everywhere?

But will Ireland go doen the pan in the near future as well? Ruined by the corruption of its own policitcal and business elite? Will that spell the death knell of the Euro?

Surely a large part of the problem came from right wing economic thinking? De-regulation and scant control of the financial sector by governments allowed matters to get out of control.

Now if the poorest states in the US which represented a tiny proportion of US GDP were to have huge debt piles would you worry about the survival of the dollar? Of course you wouldn't but in fact the US has some very big endebted states that represent a very big part of US GDP. You're watching and reading the usual anti-euro nonsense put out by the British media. It's such an issue here in euro zone it wasn't even mentioned on the news this morning.

Oh and the Yen isn't under pressure and pays a derisory 1.5% on its national debt. Now go check out the Japanese debt : GDP.

It won't be the death of the euro , even if the rest of the PIGS crash like Grease because  one currence is the way forward for Europe, we should have got in at the start and helped form it , now we wouldn't even meet the requirements to enter the ERM2 any more with our GPD.

What have EMF got to do with Greece?

I misread that as "geeks-economy-on-the-brink-of-collape".

Which would be a real shitter for the the high end bike trade.

Is that a trick question mastiles_fanylion ?

I'm not sure about the Endangered Marsupial Foundation, but Greece has asked the IMF to borrow them some money.

I am staking a claim on one of the island before someone send in the bailiff.

How are they going to pay back the loan? Everyone knows well that one does not lend money to someone who cannot pay. What do they have that can be secured against the loan? Olive oil?

So are Greece going to permanently claiming the "welfare / state benefit"?

😆

Ernie – you're unbelievable!

They currently are 300bn in debt and increasing every second, I can not see things getting better there for 1o years +

The UK is in 900bn debt isn't it, something like 69% of gdp?

but Greece has asked the IMF to borrow them some money.

lend.

I'm going there in three weeks. Will this mean my holiday will be cheap as? Might buy some new windsurfing kit then.

good to see people thinking about the bigger picture rather than just their own little world.

I think you'll find it's called "taking the p*ss" porterclough …….you'll have to forgive me if I sometimes don't take an internet bike forum quite as serious as perhaps I should.

coffeeking – I prefer "borrow" it sounds more earthy and it's the word on the street.

Plus I like the idea of George Papaconstantinou asking the IMF "Borrow us some money"…….specially if he says it in the same accent as the geezer down my local kebab shop.

Honestly I'm wasted round here… I'm taking my early 90s indy dance related comedy stylings elsewhere… 😉

will any of the Greeks notice this economic crisis?

MrSmith – Member
I'm going there in three weeks. Will this mean my holiday will be cheap as? Might buy some new windsurfing kit then.
good to see people thinking about the bigger picture rather than just their own little world.

Sorry. Forgot to press the 'tongue-in-cheek' button. 🙄

part of the problem is that tax avoidance is a national hobby
http://news.bbc.co.uk/1/hi/programmes/from_our_own_correspondent/8509244.stm

[/quote]Sorry. Forgot to press the 'tongue-in-cheek' button.

friday night kebabs will be cheaper now though so it's all good 🙂

Is that a trick question mastiles_fanylion ?

Sorry, I am not that clever. 🙂

Anyway, it's the KLF isn't it?

Or is that KFC?

coffeeking – I prefer "borrow" it sounds more earthy and it's the word on the street.

I thought grease was the word. Or was that Greece?

Sorry. Forgot to press the 'tongue-in-cheek' button.

😆

Plus I like the idea of George Papaconstantinou asking the IMF "Borrow us some money"…….specially if he says it in the same accent as the geezer down my local kebab shop.

Have you seen him (Papandreou) on TV? I suspect he speaks better English than you do.

(Somewhat off-topic: just watching The Wire season 2. Are there ANY Greek actors in it?)

Indeed! http://www.youtube.com/watch?v=2O5M2U2GbpM

Lovin' the "whooosh" moment for Ernie there 🙂

Have you seen him (Papandreou) on TV? I suspect he speaks better English than you do.

I'm talking about Papaconstantinou, he's the one who's asked the IMF to borrow them some money – not Papandreou……..you're getting your "Papas" mixed up mate. Easily done when it comes to Greek politics mind.

What's Papaconstantinou's english like ? And suggesting that he probably speaks better english than me won't count for much – I speak a bastardised industrial version of english, which I suspect isn't taught very much in Greek universities.

Surely a large part of the problem came from right wing economic thinking? De-regulation and scant control of the financial sector by governments allowed matters to get out of control.

Funny, I don't recall our current government being particularly right-wing.

No that Greece has 'junk' status, and stock markets around the world are dropping because of them, maybe it's time for some asset stripping? You know, like we used to do – I like those marbles.