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Greece is 'close to the abyss' as black hole in public finances widens
UK Telegraph ^ | April 15, 2015 | Mehreen Khan

Posted on 04/15/2015 7:48:25 AM PDT by C19fan

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To: grania

backed by? wishful thinking?

It is a corrupt government that can not be trusted regardless of currency. There has to be a purge of moochers.


21 posted on 04/15/2015 9:15:18 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory
England has ALWAYS wanted the eu to fail. They stayed out of the currency in order to be the dominant currency when things fell apart. Germany has used the Deuche mark to become the backbone of the “euro currency”. IOW they achieved with paper what failed with bullets. UK media has and does always report the EU is falling.

England has never wanted the European Union ( EU) to fail. Its their biggest trading partner. The UK view was that the EU would be a free trade area which would compete with the US and Japan - and now China. They tried linking their currency pre the Euro via the Exchange Rate Mechanism (ERM) and John Major's administration got badly burned. They even suggested a "Hard Euro" to compete with the national currencies, which would have been a much better arrangement than abolishing the national currencies. The idea that you can have monetary union without fiscal and political union, which the UK was not willing at the time, to do is farcical.

As for the UK media try reading the Economist ( a self described UK newspaper), which is the most pro European paper in existence.

22 posted on 04/15/2015 11:15:54 AM PDT by Timocrat (Ingnorantia non excusat)
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To: grania
Which will also pump up Greece's currency when they escape the EU. Nice stops for those Cunard cruise ships, good place to park some British military hardware in the Med.

If Greece exits the Euro the "New Drachma" will go south in a hurry, nobody will want to hold it absent structural reforms in Greece.

As for the Brits parking hardware in Greece they already have two sovereign bases in Cyprus, which they already probably can't afford with their defence cuts.

23 posted on 04/15/2015 11:22:10 AM PDT by Timocrat (Ingnorantia non excusat)
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To: arthurus
The Germans always figure out how to kep Greece tied to the system.

They need to, some of the German banks and the Eropean Bank are up to their eyeballs in Greek debt ( as are Italian and Spanish banks ). If Greece goes down it will take a number of others with it.

24 posted on 04/15/2015 11:25:07 AM PDT by Timocrat (Ingnorantia non excusat)
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To: C19fan
Watch Turkey invade Greece via Cypress. Erdogan has caliphate eyes.

Side note: why is TU not impeding ISIS?

I wish I had access to all INTEL like I did 35 yrs ago. Stuff is happening, and it looks REALLY BAD. Not just the ME, but all over the globe.

5.56mm

25 posted on 04/15/2015 11:26:55 AM PDT by M Kehoe
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To: longtermmemmory
It is a corrupt government that can not be trusted regardless of currency. There has to be a purge of moochers.

Yes, but the political and social cost of doing that is too great.

26 posted on 04/15/2015 11:28:29 AM PDT by Timocrat (Ingnorantia non excusat)
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To: M Kehoe
Side note: why is TU not impeding ISIS?

Turkey has an Islamic government that has rejected the secular legacy of Kemal Ataturk. Its mainly Sunni (over 70%), as is ISIS which is led by Generals in Saddam's old military.

The group with the most to gain from the defeat of ISIS is the Kurds who populate a large part of Eastern Turkey and have always been a problem for the Ankara government. If the Kurds manage to establish a De Jure state in northern Iraq look for the Kurds in Eastern Turkey to try and join them.

27 posted on 04/15/2015 11:40:47 AM PDT by Timocrat (Ingnorantia non excusat)
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To: Timocrat
So will Greece end up being a Russian outpost on the Med?

I do see a future in cruise ship and other tourist revenue, if they keep the crazies out. So many of the regular stops aren't safe anymore.

28 posted on 04/15/2015 11:47:24 AM PDT by grania
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To: grania
So will Greece end up being a Russian outpost on the Med?

The Russians have to be careful. The Turks control the Bosphorous, the entrance to the Black Sea and the reason Putin annexed the Crimea. There's no love lost between the Greeks and the Turks. If the Russians cozy up to the Greeks the Turks may not be too thrilled about that.

29 posted on 04/15/2015 3:27:02 PM PDT by Timocrat (Ingnorantia non excusat)
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To: grania
I do see a future in cruise ship and other tourist revenue, if they keep the crazies out.

Also Greece could become the Florida of Europe, the retirement location for northern Europeans fed up with northern winters. But, as you say, only if they control their crazies.

30 posted on 04/15/2015 3:29:49 PM PDT by Timocrat (Ingnorantia non excusat)
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