Greek talks with skeptical creditors to resume in morning

[micmichd]

<----->

My special request to ECB:

Money and its currency is a matter of trust.

I've been working more all my life, made my own austerity program just to save enough for Asia when I'm old. The currency exchange rate was 44 THB : 1 EUR when I left Europe. Now give me a good reason to trust Eurozone. Thanks in advance for keeping promises.

If you are not able to consider ups and downs in exchange rates when going to a foreign country, don't ask the ECB. But ask yourself if you can trust your brain.

Guess it's a legal issue, here's the situation:

If you owe me eg 20,000 EUR, payable in 2013 to Thailand (880 kb), and you hesitate and pay more than one year later when 20 kEUR are only worth 780 kb, then I've lost 100 kb due to your failure to pay in time. So, your hesitation to pay caused me a damage of 100 kb, and I get 100 kb compensation for that damage from you.

Right or not?

Edited July 13, 2015 by micmichd

[SheungWan]

You have never heard of anyone defaulting on their loan?

Greece could easily default and dictate it's own terms of repayment,

perhaps a moratorium until Greece's GDP returns to pre-crash levels and then only as a percentage of trade balance.

Yes, well, go for it, but Greece would discover that further loans would not be forthcoming and they would have to issue their own currency. As for GDP the current greek government has no plan whatsoever to get growth back on track as has been amply demonstrated with their attempted roll-back of structural reforms agreed to by the previous government. So I am sorry to say that Greece is in no position to dictate anything to anybody and that is why Syriza's gyrations over the last 6 months ahs amounted to a bad comedy show of bluster and BS.

[webfact]

BREAKING:

Eurozone 'agreement' on Greece debt

Full story: http://www.thaivisa.com/forum/topic/840085-eurozone-agreement-on-greece-debt/

[micmichd]

In another thread you talked about "money". When I requested you to explain and improve what you had written we got an unrelated table to your "money"

Yesterday you wrote this nonsense, absolutly absurd and not confirmed in your (German) PDF.

http://www.bbaw.de/publikationen/stellungnahmen-empfehlungen/bericht-staatsschulden

Sorry, only available as PDF in German.

According to this, German debts rounded up to 670 pct of German Domestic Product in 2013. German GDP was 2.8 trillion EUR then, German debts accordingly 18.5 trillion EUR.

Guess where the money goes.

To show you reliable facts for 2014:

from Deutsche Bundesbank : German state dept = 2.168 Billion s (in English: 2,168 Trillion s)

from Deutsche Bundesbank: German dept ratio (to GDP) = sank to 74,7 %, (NOT 670% as in your statement).

And again: if you would be /were able to read and understand this complicated content of your mentioned PDF (in German language) you wouldn't write such a nonsense. Trusting your comments is as trusting Greeks (Trispas) promises.

If I'm wrong, the same request as before: pleas show me my "mistake".

You're right.

It's not the state, it's the capital investors that come up with these excessive debt rates. Not so sure if it makes much difference nowadays.

[micmichd]

In another thread you talked about "money". When I requested you to explain and improve what you had written we got an unrelated table to your "money"

Yesterday you wrote this nonsense, absolutly absurd and not confirmed in your (German) PDF.

http://www.bbaw.de/publikationen/stellungnahmen-empfehlungen/bericht-staatsschulden

Sorry, only available as PDF in German.

According to this, German debts rounded up to 670 pct of German Domestic Product in 2013. German GDP was 2.8 trillion EUR then, German debts accordingly 18.5 trillion EUR.

Guess where the money goes.

To show you reliable facts for 2014:

from Deutsche Bundesbank : German state dept = 2.168 Billion s (in English: 2,168 Trillion s)

from Deutsche Bundesbank: German dept ratio (to GDP) = sank to 74,7 %, (NOT 670% as in your statement).

And again: if you would be /were able to read and understand this complicated content of your mentioned PDF (in German language) you wouldn't write such a nonsense. Trusting your comments is as trusting Greeks (Trispas) promises.

If I'm wrong, the same request as before: pleas show me my "mistake".

You're right.

It's not the state, it's the capital investors that come up with these excessive debt rates. Not so sure if it makes much difference nowadays.

Anyway, there's obviously a new poposal from Eurozone to set up an escrow funds to monitor Greece.

[smedly]

This crowd of Greek clowns in government have destroyed any chance these people have of getting a deal, what a circus, I feel sorry for the Greek people but they voted for them

Now the PM regardless of a referendum he called and the people voted on last week has capitulated and is now on his hands and knees begging for money which in my opinion will not be coming - too little too late after all the trouble he and his communist counterpart (who has now deserted the sinking ship) have caused, they would need to be signing over some serious collateral to get one cent out of me, I think the rest of the people (tax payers) in the EU have had enough of this charade and are now quite willing to cut them free and let them paddle their own way out of the (deleted) they are now in

The only way I see them getting out of this would be to hand control of Greece over to a team of central EU experts (receivers as in bankrupt) to run the country because they are by all accounts bankrupt and unable to govern themselves, this would effectively end self governance and arguably end democratic government rule in the country until stability is restored - although it would be run by other democratic elected officials just not elected by the Greek people

it would appear I was not entirely wrong as it seems that a certain amount of control has in fact been handed to central EU institutions as part of this deal who will now have control or at least a veto over certain aspects of the Greek government decision making and how they govern