Greece to Default on $1.73 Billion IMF Payment

wall street journal ^ | 6/29/2015 | Gabriele Steinhauser and Nektaria Stamouli

[catnipman]

...

Greek Prime Minister Alexis Tsipras spoke by phone with Mr. Juncker and European Parliament President Martin Schulz and asked for help getting an extension to the bailout, a Greek government official said.

“The Greek prime minister [Tsipras]expressed the position that the democratic expression of the Greek people is hindered by the closure of banks, which doesn’t apply with the democratic tradition of Europe,” the official said.

...

Mr. Tsipras and his government are calling on Greeks to vote “no” to send a signal to Europe and the IMF

[catnipman]

Unbelievable. Let me paraphrase the above in more understandable language:

PM Tirpas: "I just fuched up my economy so badly that I can't hold an election to tell ya'll to go fuch yourselves without your help."

[btw, google the headline in order to bypass the wsj paywall to read the article.]

[Tijeras_Slim]

There was never any doubt, only wondering how they could make a bad situation worse.

[catnipman]

more direct link:

http://www.wsj.com/articles/european-union-prepares-for-potential-fallout-from-greek-bank-shutdown-1435573213

[Opinionated Blowhard]

Watch closely. Something like this will happen in other European countries and the US over the next decade or two. The Western Welfare State is a Ponzi scheme that eventually comes to an end. It looks like at least some of them are coming to an end in our lifetimes.

[pgkdan]

This is all Kabuki Theater...the IMF knew that Greece couldn’t pay when they made the loans...just as The EU knew Greece would never repay.

[Ghost of SVR4]

Meanwhile, LTC in the crypto world is up a buck a coin today. I’ve been wondering if crypto was going to be used to move currency around (not saying greece is actually doing this, but China is fairly active today).

[pgkdan]

Something like this will happen in other European countries and the US over the next decade or two

I don't think we have a decade or two. Month or two is more like it.

[forgotten man]

Screw the Greeks. Why should the hard working people from Northern Europe bail out a bunch of lazy bastards who are too busy taking siestas to go out and work for a living.

[SaveFerris]

Yeah, no kidding.

[DoughtyOne]

I found a better translation...

Wimpie: (on Thursday)

I'll gladly pay you next Tuesday if you'll buy me this hamburger today...

Umm, good burger.

Wimpie: (on Tuesday)

F U

[Ghost of SVR4]

At the very least, my bet is on late this year, early next. The world stage is not going to let obama go quietly into the night, they have the perfect lemming in place to bring havoc to our shores.

[RckyRaCoCo]

The Western Welfare State is a Ponzi scheme that eventually comes to an end.

Fact.

[Osage Orange]

So how do we keep our money?

I've some ideas...

You got any?

[Veto!]

XLNT interpretation. LOL

[laplata]

I don’t think we have a decade or two. Month or two is more like it.

---

Yep. By early Nov. IMO

[PGR88]

Greece is a statist, socialist country inside another statist, socialist organization.

its just that their goals don’t match and like all socialists, they are trying to steal from each other.

Let’s hope they all fail.

[Attention Surplus Disorder]

Pretty much a feta compli.

[ConjunctionJunction]

I’m looking at the end of the shemita year, so around September.

[Junk Silver]

“So how do we keep our money?”

My screen name is my answer. And NOT in a bank safe deposit box either!

[AppyPappy]

Greece is like the deadbeat relative who goes on a screaming tirade against the people supporting them. When the money gets cut off in response, they do the only thing they can do.
Yell louder. Threaten suicide. Ingratiate themselves with grandma and steal everything.