Posted on 07/05/2015 3:21:49 PM PDT by familyop
ATHENS, Greece (AP) -- Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. Results showed 61 percent voted "no," compared with 38 percent for "yes," with 93 percent of the vote counted. The referendum - Greece's first in more than four decades - came amid severe restrictions on financial transactions in the country, imposed last week to stem a bank run that accelerated after the vote was called.
(Excerpt) Read more at hosted.ap.org ...
Looks like Greeks are repudiating those debts and going the way of Argentina.
Bon voyage!
Greece deserves a “smack down”!
I guess the village with over half “legally blind” and another with 70% “disability” checks are going to really have to get off their asses and work for a living. Greeks produce nothing and are a 3rd world country supported by the hard working members of the EU.
Their choices are Russia or China- good luck!
They have no idea what they are voting for (unlike US voters) LOL.
Comrade Vlad is probably behind this in some way, large or small.
The Greeks have been asking for communism since the end of WW2. Let them have a good taste of it. What’s amazing is the number of Syriza cheerleaders here on the Freerepublic. And invariably they fail to mention that the ultracommies that are in charge of Syriza are definitely not economic geniuses. By the time Tsipras, Varufakis, Thievakis, FreeLoadakis, and co. get done with Greece, Venezuela will seem to the Greeks like a free market paradise. OTOH, it mayget to be really cheap to travel to Greece except one may have to bring along food, drinks, and TP.
The word from pensioners in Greece a few days ago was that only pensioners would continue to get their incomes. They spoke very confidently about that. It’s interesting in light of political speech here about our own debts and political tussles between factions for larger shares of funding.
Heck no we aren't giving up our cushy perks (like retirement around age 53)...
Heck no we aren't going to pay for those perks...
Heck no, we don't want to keep our promises for the last 10 loans from Germany and others to keep this system going...
So what else ya got?
FIX IT for us, dagnabbit!!!!
I read several days ago that Germany funds their pensions.
Perhaps that is not true.
I am not a fan of the Greek welfare way of life.
However, I am a large fan of anyone telling the bankers to "^&% off".
Yes, I noticed that the other night. Creepy!
On another hand, you may get mugged for your food, beverages and toilet paper. (:
“Looks like Greeks are repudiating those debts and going the way of Argentina.”
...with probably the same results. The bankers will punish Greece...for a week...and then start the money flow again. Because what they hell, it’s not their money they’re putting at risk.
Sooo.... the banks will reopen never?
It’ll be interesting to see if the EU follows through with the boot, or if they cave.
I keep reading about how Greece borrowed too much and without a visible means of repayment.
First and foremost, if Greece borrowed too much then there were lenders who lent her too much. It is a two-sided affair, and usually lenders are more careful and want some security assets.
Second, Greece has assets (if only Mediterranean islands and shorelines that some countries would like to obtain... it does’t take much imagination to figure this one out..)
We could see some very interesting ‘bailout’ deals...
Best way to stick it to bankers is not to borrow more than you can afford. It is not to take their money and not repay it.
The place hasn’t been the same since the Pelopenesian War.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.