Posted on 07/04/2015 8:53:39 PM PDT by dynachrome
Sir, Memory. No memory of life before the financial crisis; politics has dominated it ever since. But now I can hardly remember life before Friday night. Fear. I am terrified of tomorrow, all I now see is black. Uncertainty, leading us through our days, every remainder of hope for a brighter future being destroyed by the minute. I look at my three-year-old niece, I envy her ignorance, I envy her age. I am 21 years old and the past few days I feel tired by life. A referendum that supposedly gives me the right to define my future, seems to have taken it away.
There are hundreds of people queueing at the ATMs and petrol stations, there is silence in the streets, people’s faces are frozen. This is the reality since Friday night. There are, and have been for a long time, people literally starving. However, it seems that instead of their situation improving, the rest of us will have no different a fate. Families and friends divide in Yes and No camps. We are called to exercise our democratic right by voting on a referendum while having no tangible explanation of what will follow each decision. I see everyone I know ready to take this huge responsibility without even being prepared to do so. I notice us, arguing endlessly, everyone supporting their stance fervently, ego dominating minds and words, while having no clue as to what is really at stake.
(Excerpt) Read more at ft.com ...
Being a socialist has it’s consequences..
Chickens coming home to blow up like hand grenades..
What exactly are they voting on.
July 5 could be Greek Independence Day…
Debates in the House of Representatives on the First Report on Public Credit 9–18 February 1790
James Jackson (Ga.)
But it is doubted with me whether a permanent funded debt is beneficial or not to any country.
The same effect must be produced that has taken place in other nations; it must either bring on a national bankruptcy or annihilate her existence as an independent empire. Hence I contend, sir, that a funding system, in this country, will be highly dangerous to the welfare of the republic; it may, for a moment, raise our credit and increase the circulation, by multiplying a new species of currency; but it must, in times afterward, settle upon our posterity a burthen which they can neither bear nor relieve themselves from. It will establish a precedent in America that may, and in all probability will, be pursued by the sovereign authority until it brings upon us that ruin which it has never failed to bring, or is inevitably bringing, upon all the nations of the earth who have had the temerity to make the experiment.
http://oll.libertyfund.org/titles/875
6. But the grand nostrum will be a public debt…
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.
Rules for Radicals? No, Rules for Changing a Limited Republican Government into an Unlimited Hereditary One
http://www.constitution.org/cmt/freneau/republic2monarchy.htm
In last ten years, the Greek government has been bailed out by the EU and the IMF numerous times. The last time was a few years ago when they were loaned 340,000,000,000 Euros. They can’t pay it back. The austerity measures that were supposed to have been put in place on the government (i.e. cut pension payments and reduce government payrolls) never took place. Now they are out of money again, unable to even pay the interest due on those loans.
Their current Prime Minister ran on the platform of telling the bankers in Europe that they were not going to abide by the loan agreement and that if the bankers ever hoped to see their money again, then new loans would have to be arranged.
The bankers, though, have had enough. They are not willing to loan more money or give concessions unless enforceable measures to control the Greek government’s debts are put in place.
The Greek Prime Minister punted to his people asking them to hold a referendum tomorrow on whether they wanted to agree to the new measures or to refuse.
In the No vote wins, then the Greeks refuse the measures that their creditors are demanding and it is 100% certain that Greece will default on it’s loan obligations.
“The Greek Prime Minister punted to his people asking them to hold a referendum tomorrow on whether they wanted to agree to the new”
Wow, what a bold leader.
When is the auction ?
......”Greece will have tough times no matter which way the vote goes.”......
Certainly .....A “no” may lead to a chaotic departure from the shared euro currency and even “yes” is no guarantee the creditors will agree to lend.
The ultimate deadline is July 20, when a €3.5bn bond is due to the European Central Bank..... Defaulting on the ECB almost certainly means the central bank will pull all aid to Greek banks,.... forcing them to print a new currency in order to reopen.$$$$$$$
And also a No vote does not mean a Greek Exit from the EU... there is a chance that, despite all the rhetoric, ‘creditors ‘reopen talks after Greeks vote No.
So July 20th is really the line to cross or not.
Greece is a welfare state, they cannot live within their means, they refuse to.
I’ve been following all of this closely for the last month. Basically....neither yes or no means anything. You see...as they carefully have avoided discussing in public or via the newspapers....there is no consequence spelled out with either vote. I suspect that none of the top ten gov’t guys has any idea what happens on Monday (probably the more important day of the deal, NOT Sunday the voting day).
Banks indicate that a ‘haircut’ will occur on Monday. On accounts of 8,000 Euro or MORE....the banks will confiscate what is in excess of the 8,000. You can imagine how upset or angry you’d be if your savings were messed with. Oddly, based on reporting....just about everyone has emptied out their accounts, unless they were idiots....months ago. There’s billions of cash sitting out there in garages, basements, or refrigerators. It’s comical....cash in huge amounts and people scared to spend it or use it now.
I would speculate on Monday...tourists arriving at the airport will find virtually no way to get into Athens itself. If they do get there....I’m guessing the hotel will accept them but it’ll be electronic cash. Where you eat during your stay might be an issue. There’s no markets open, so there’s virtually no real food supply in public.
Tough Sh*t.
It’s been an interesting watch......but the end result will be they’ll get bailed out one way or another. Though they have some rough waters to ride...I doubt too any will really suffer. They’ve played their system for so long they’ll simply continue to do so....they’re voting no because they expect things to continue or get back to how it was....that’s a not...but they will try.
As for consequences...Greece has operated without any...it’s their culture...they don’t pay their tax’s because there’s nothing in which to enforce that in their system....
You’re not going to change the culture mindset in Greece....they’ll sink or swim and that’s pretty much the bottom line for individuals there..no matter how this ultimately plays out.
They haven't any need to do so, their system doesn't require that they do... so they don't... never have... and why they are where they are now. It's a culture of privileged entitlements.
Voting isn't going to change their situation...it just gives the President more leverage if the EU continues to do so, and the creditors agree to "terms".....which of course won't be met either over time.
Many 'think' by voting they will have their money and life back...
It is the PM’s effort to save his own butt. If the people vote yes, he can go back to the EU, hat in hand, thus violating his pledge that got him elected. If they vote no, he can lay the hardships at the feet of the people for their choice. Of course, the deadline for payments is long past, and the referendum means nothing, unless the EU wants to turn the clock back to, say, June 30.
The people pretended to worship their god, the state, and the state pretended to bless the people. Their god has feet of clay.
In the faces of the coming generations. A preview of what life will be like for our children and grandchildren.
The socialist culture has the Greeks retiring at very high pensions at age 55. With a lifespan of 80 or higher one can do the math and see the government cannot sustain that payout. US Federal employees, take notice.
This is always how socialism ends. Some have just not ended, yet.
Greece is hardly alone
Rather than rely on pensions and exorbitant pay from the government, the citizens of Athens should arm them selves and capture Corinth or maybe thebes. The captured populations should be enslaved.
Then rather than not working and depending on the government, Athenians could bask in the work products of the enslaved.
That is the Geek way. Conquer and enslave
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