ATMs in Greece are on FIRE! - Greek Update + Poll

Should Greece Exit the EU?

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    20
  • Poll closed .
Pavlos Sakoglou

Pavlos Sakoglou

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After tomorrow (Monday 6/29) the banks in Greece will freeze the deposits until Sunday's referendum. Money withdrawals will be limited to 60 euros / day. You can see Greeks running over grocery stores and super markets with bags full of food and supplies to prepare for the worst. People are getting crazy.

ATMs are on fire! People try to get as much as they can in case of bankruptcy. (See the attached pictures I took today on the streets - ATM jokes is the new trend over the last days in Greek media)

Should Greece defaults ~349.3 bil and exits the EU or not? why?

Thanks for your replies.
 

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This has been dragging on for years now. It is yes or no at this stage IMO.
 
Frexit? that would clearly the end of the euro, if it's not dead by that time.
I follow the news, but I'd like to know what's so bad about quitting the euro? currency volatility?

also what's so good about staying inside the EZ?
 
TehRaio said:
but I'd like to know what's so bad about quitting the euro? currency volatility?
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Nothing. The euro has been a half-assed idea that put Southern Europe in a subordinate and indentured position to German capital. More generally, the sclerosis at the heart of the European project has become clear for all to see.
 
bigbadwolf said:
Nothing. The euro has been a half-assed idea that put Southern Europe in a subordinate and indentured position to German capital. More generally, the sclerosis at the heart of the European project has become clear for all to see.
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Euro is fine by me. You probably did not experience the pre-Euro era.

And believe me, if you are in business you will like Euro.

British folk tend to use their heart instead of their head when it comes to Europe :D
 
Daniel Duffy said:
Euro is fine by me. You probably did not experience the pre-Euro era.

And believe me, if you are in business you will like Euro.

British folk tend to use their heart instead of their head when it comes to Europe :D
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Au contraire, mon ami: I know full well what the pre-Euro era was like. But to make the Euro work the Europeans would need a federal system for taxation and evening out regional imbalances. Something similar to what the US has. This current system has to topple -- Greece is the worst but Italy and France are not far behind.
 
bigbadwolf said:
Au contraire, mon ami: I know full well what the pre-Euro era was like. But to make the Euro work the Europeans would need a federal system for taxation and evening out regional imbalances. Something similar to what the US has. This current system has to topple -- Greece is the worst but Italy and France are not far behind.
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A federal system is fine by me.
And standardize coffee quality in Europe i.e. Italian.
 
bigbadwolf said:
Au contraire, mon ami: I know full well what the pre-Euro era was like. But to make the Euro work the Europeans would need a federal system for taxation and evening out regional imbalances. Something similar to what the US has. This current system has to topple -- Greece is the worst but Italy and France are not far behind.
Click to expand...
Italy, Spain, Portugal, et. al. Even more, when Greece goes south, I expect a line to form because I ain't buying any paper coming out any of those countries.
 
Daniel Duffy said:
Along with a 15 trillion debt? The Germans won't buy that one..
Nor the Dutch for that matter.
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Two separate things surely -- the federal system and the fact that the empire is running on empty? Though I suppose an argument could be made that without a federal system of government as initiated by Hamilton there would never have been an empire subsequently .... But, yes, the US empire is running on empty. Speaking of which, here is Orlov's latest post.
 
After the 61,31% NO to austerity, voted by Greeks, here is the new proposal that was sent today to Eurogroup from mr.Tsakalotos - Minister of Finance - to consider Greece's position in Eurozone.
http://www.e-forologia.gr/attachments/anthi_2015/letter_esm.pdf

I am not entirely sure what to make of it and how realistic these conditions are, but they do sound promising. Meanwhile, capital control will remain until an agreement with Eurogroup is achieved.

In that matter, if capital control keeps being there that will be the end of Greek trade very soon - whatever is left of it. And we need to agree that the referendum was totally pointless. It only made things worst and basically "killed" the merchands, especially those in the tourism industry. They would have negotiated other terms regardless the decision of the people, which had no clue what was going on in any case. What a mess.
 
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i have been following this. at least it is a resolution for short term. the market will get better and everybody will be happy until the next round. it has gifted such spectacular trading opportunity i have employed for several years to bump my retirement savings.
 
Tsipras wanted to loose the referendum from the start. Loosing it would have been an easy way out of what he promised to the Greek people
 
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