Political, financial turmoil in Greece

Am so cheering them all on, Bonny.  It has been a depressing road for many and a celebration for the few.  Time to end it and move on to fairer days.

Stock markets should be more entertaining than telly tomorrow.

Let the games begin......

And they're off!

http://news.sky.com/story/1513859/greek-finance-minister-quits-despite-no-vote

Greek Finance Minister Quits Despite 'No' Vote
Leaders scramble for emergency talks as voters' powerful rejection of austerity plunges the eurozone into its biggest ever crisis.

Greece's finance minister has announced his resignation after Greek voters decisively and "bravely" rejected a tough new bailout deal.

Yanis Varoufakis said he had been "made aware" some members of the eurozone did not want him at the meetings of finance ministers.

He quit as the leaders of France and Germany prepared to hold emergency talks, adding: "I shall wear the creditors' loathing with pride."



Varoufakis: "Aware" he was not welcome by some eurozone members...more at link.


I smell a ploy of some kind; he doesn't strike me as a moonbatty, girly type.

Reaction from Kremlin-

Can't wait to see what happens. But Sterling is expected to strengthen. So another boost for my Pension. Thank You, Lord.

No problem here as Hungarian Forint, like the UK£, is not in the Euro. And all my assets in Austria and Germany are in land/property. LL

Lamplighter wrote:No problem here as Hungarian Forint, like the UK£, is not in the Euro.   And all my assets in Austria and Germany are in land/property.    LL  

Mine are in a Government Protected French Banque.

So, the only one of us that lives in the eurozone gets paid in sterling, and is quids in? And the rest of us don't really have a dog in this fight, apart from our own views?

It's all good, then!

Somewhere or other, I read that enquiries about Greek holidays are up this morning, which does rather suggest that actually no, it isn't the end of the world as we know it.

Things weren't so good when the value of The Pound plummeted. But the value of the Euro doesn't appear to have been affected. No great price rises and the house taxes haven't risen very much at all in the last ten years. Electricity and water are fractionally more expensive, but not very much so. And my Broad Band hasn't increased at all in over five years.

The UK government is flat-out lying about inflation in the UK, Sabot, as anyone that pays grocery bills will testify.

Are they printing their new money?

I did read somewhere or other that they have a Euro machine, Lily.....nothing would surprise me now.

The IMF still have skin in the game?

ETA:  I had meant drachma.....just in case?

http://www.zerohedge.com/news/2015-07-06/average-weekly-working-hours-europe



Interesting.

Ms Merkel's diplomatic skills seem to be deserting her.

It will get worse before it gets better?

I read somewhere or other that Ms Merkel is having a meltdown because she wanted her legacy to be all of us in one big European family, merrily waving those starry flags and singing Ode to Joy. While those clever bureaucrats in Brussels and Berlin told us what was best for us, of course!

All of which has, very predictably, gone t*ts up and just about the only thing assorted European nations are united in now is that old favourite, blaming Germany.

It would help, IMO, if she and her chums would just shut up, let Hollande do the talking - doesn't matter if he is an idiot, as long as he makes soothing noises. It really isn't a good idea for German Chancellors to tell other European nations what to do, tends to bring back unhappy memories.

Doesn't she have any good friends to tell her?  Like Italy and Spain?

German Chancellor Angela Merkel showed the strain ahead of her meeting with Francois Hollande yesterday


Read more: http://www.dailymail.co.uk/news/article-3151560/Greek-deal-blow-euro-apart-Merkel-refuses-write-Athens-debts.html#ixzz3fCQhuWDI
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Someone needs to tell her that the euro IS blowing apart, and could well take her whole EU fantasy with it.

And she can hardly whine if Greece looks east for help. If the EU leaders hadn't acted like a bunch of sheep over sanctions, then Greece would still be trading with Russia.

I didn't notice the German Chancellor offering to help the Greek farmers ruined by her impersonation of Obama's poodle.

http://www.zerohedge.com/news/2015-07-06/greece-fallout-italy-and-spain-have-funded-massive-backdoor-bailout-french-banks


Greece Fallout: Italy & Spain Have Funded A Massive Backdoor Bailout Of French Banks

That's a good piece which makes some sense of the vast con-job that has been going on in Europe. And another reminder that this has little to do with Evil Greeks retiring early, and a great deal to do with dodgy banks that have been propped up with other people's money.

Bunch of crooks......

Always remember that this business of public money - taxes - being used to keep rotten banks afloat, here and in the US, with dodgy loans, dodgy bonds, etc., and the whole mess constantly switching from one country to another is the complete opposite of what enterprise and capitalism are supposed to be.

Instead, it's some horrible stew of corruption, theft and cronyism from the 1%. It's plate-spinning for the benefit of the top dogs and WE are paying for all of it.

I hope Greece goes for a debt-free restart, and returns to the drachma, instead of prolonging the agony. I suspect it will take, oh, about a week for Greece to get aid from BRICS to stay afloat, and I have NO doubt that genuine trading deals will quickly be thrashed out with Russia, China, and the smaller nations.

In a couple of years outwith the Eurozone, Greece should be back on its feet, if a bit battered round the edges.

That's how I view it too, Bonny.  Take a deep breath, dive into it and just get on with it (the drachma) knowing there are much brighter days around the corner.