Eurozone 'agreement' on Greece debt

[webfact]

BRUSSELS (AP) - Greece's Tsipras says deal allows Greece to stand on own feet, averted "extreme measures" .

[MaeJoMTB]

If I were a Greek, I would be down the bank ASAP, and keep my money under the bed.

The banks wouldn't get a second chance with my money.

[kingstonkid]

Unless the government cuts spending which means a lot of the promised benefits they will never get out of debt.

I think that there is going to be a lot to hate if you are a greek but if you think you realize that you have to curb what you are doing.

This is a lesson that a lot of countries like the U.S. and U.K need to heed.

The US is close to being in the same place as Greeece the only benefit they have is that they can print their own money.

[VINCENT2012]

tell me if i am wrong cause the numbers are so big i could make a mistake but:

53.500 000 000 (billion-euro) divided per 11 500 000 (estimation of the greec population 2015) equal 4608 milion per head ....divided again per 3 years = 1536 milion per head per year

divided per 12 mounth =

128 milion per habitant per mounth during 3 years....

wwwwwwwwwwhoua! am i right?

now what the hell do they do with the money ??????????????????????????????vwhat is it that they can not arrange with those sums?

cut the crap, bankrupt and new start is the solution

[little mary sunshine]

Sucking up more money from the Germans and French.

Lazy, over paid Greeks better clean up their act...no more

Money!!

[micmichd]

tell me if i am wrong cause the numbers are so big i could make a mistake but:

53.500 000 000 (billion-euro) divided per 11 500 000 (estimation of the greec population 2015) equal 4608 milion per head ....divided again per 3 years = 1536 milion per head per year

divided per 12 mounth =

128 milion per habitant per mounth during 3 years....

wwwwwwwwwwhoua! am i right?

now what the hell do they do with the money ??????????????????????????????vwhat is it that they can not arrange with those sums?

cut the crap, bankrupt and new start is the solution

Looks like 4,652.17 EUR per Greek to me.

[FinChin67]

I am so grateful for not being a taxpayer in Europe.

[a99az]

That was quick or maybe the headlines are crossed. I thought that the Greeks had to make it in Greek law and then after this the EU would take them seriously and start to help them. So it a done deal !! Me thinks this is not going to last long. What happened about the Greeks being out of the Euro for five years? Why did the Greeks have a referendum if they are now going to do what the EU asked for in the first place, all this shows is that the Greeks are clearly not able so sort themselves. Guess we will soon see Greeks in the street protesting that they have been betrayed by there government.

[sandyf]

Where did all the money go?, now they are going

to give them more money,they are never going to

be able to pay off what they already owe,so give

them more !

regards Worgeordie

The answer is pretty simple:

The monetary system is the problem ... not Greece !!! -???

From the Independant Nov 2004

"Greece admitted yesterday that the budget figures it used to gain entry to the euro three years ago were fudged. The Finance Minister, George Alogoskoufis, said the true scale of Greece's budget deficit was massively understated enabling Athens to dip below the qualification bar and into the EU's single currency."

[ABCer]

Greece is a Big Black Hole.

The EU money will not help Greeks. The EU money will not help Greece.

The money will get stolen like all the previous times.

Prolonging the senseless agony. Bad decision both politically and economically.

[kiwikeith]

greece says yes we have a can, let us find a way to kick it down the road, you kick, then we kick, then you kick. at the moment the onus is on you to kick, next time we do the kick.

We start a fund to fund a fund from that fund we sell the assets to pay back the debt, for the printed money you just gave the banks of Greece.

The people get the can from the 50 billion fund we started with a borrowed fund.

The can is an empty old can full of hot air to be kicked if you like to nowhere.

At the end of the road after this lot of can kicking is a bigger can to be kicked at the new interest bill for the last loan and we will have all your assets as well.

Then we can borrow more money to build huge privatised cans to lock you in after you commit crimes for can kicking..

[sanuk711]

French President Francois Hollande said For the eurozone to have lost Greece,

would have been to lose "the heart of our civilization."---OP

I dont think he done to well at Anatomy when he was at school.........................

**Greece.---Setting a new world record for the most Bank Holidays every year.

Edited July 13, 2015 by sanuk711

[Asiantravel]

What I keep wondering is what is the projected Greek revenue going to look like in a year or two under these proposals to be able to service what will now be their even bigger debts ?

How many would-be tourists will keep going to Greece with the prospect of paying these higher taxes such as in hotels and when the Greeks themselves are hardly going to be a happy crowd (I can't blame them) working under these proposed conditions?

how many tourists will say they will pay the extra money to travel and go to alternative places such as Cuba or some of the islands off Africa?

The other point is while many tourists may not live in countries that have austerity, nevertheless even their real incomes are also being slowly eroded so they will have less affordability and seem less likely to want to travel to countries where are they will be imposing such draconian taxes?

[h90]

Where did all the money go?, now they are going

to give them more money,they are never going to

be able to pay off what they already owe,so give

them more !

regards Worgeordie

Where did all the money go?

Far more than 90% went direct to the banks and only 10% to Greece.

The money was used to buy the debt from the banks so now Germany, France, etc hold the debt that the banks hold before.

The Greek had their 5-7% minus per year financed.

It would have been far smarter to let Greek go default years ago. Than some banks brake down which you could nationalize and let die a regulated way.

Cheaper

better for Greek people

Banks would have lost some profit and that is not allowed

[Basil B]

If the Greek government vote yes on this deal they will have sold their country to the EU. They will have to put 50billion of state assets into a fund the EU will control, then privatise these assets and use 50% of the sales to pay off debt. the other 50% for Greece to reinvest.

I really hope they vote against, because this will end badly which ever way it goes. Just delaying the inevitable, IMO.

Interesting to see if Tsipras is still PM come Wednesday?

The Greeks have been living on borrowed money for years...

I think you would be sore if you gave someone money so they could feed themselves only to see buying lobster, fine wine and them partying out on on it.

Do you not think it right for a lender to ask for some tangible assets as security against the money lent?

Edited July 13, 2015 by Basil B

[h90]

Sucking up more money from the Germans and French.

Lazy, over paid Greeks better clean up their act...no more

Money!!

May I call you lazy and over paid if Yingluck would have been a few years longer in office and lost a few more trillions?

Because than Thailand would be in the same situation as Greece and in your opinion the Greece laziness is the reason. So in your logic the lost money on the rice scam must be your fault.

[h90]

Where did all the money go?, now they are going

to give them more money,they are never going to

be able to pay off what they already owe,so give

them more !

regards Worgeordie

The answer is pretty simple:

About 90% of all the bail out money went directly to the big banks !

The only thing that happened is to transfer the depth from public lenders to now sovereign lenders [meaning the tax payers of europe] !

This is all just a big theft from the banks in accordance with the EU ...

Mario Dragi [head of the ECB] comes from Goldman Sachs ... and he didn't forget where he came from.

For the rest of the story:

The simple question would be:

What did Greece actually get from the banks ?

As banks create money out of nothing, why do they actually have to give something back they have never received ?

The monetary system is the problem ... not Greece !!!

And Goldman Sachs (if I recall right) made the audit that confirmed that Greece is within the regulations for joining the Euro.

It is not the monetary system it is the strange mix of capitalism and communism caused by corruption.

[h90]

Unless the government cuts spending which means a lot of the promised benefits they will never get out of debt.

I think that there is going to be a lot to hate if you are a greek but if you think you realize that you have to curb what you are doing.

This is a lesson that a lot of countries like the U.S. and U.K need to heed.

The US is close to being in the same place as Greeece the only benefit they have is that they can print their own money.

printing money devalues the existing money and is actually stealing money from the middle class (the rich have their money at the stock market which increases as more money you print).

[BuaBS]

It's a sad , sad day. This makes me sick in the stomach. The banksters & eurocrats win AGAIN. Why should I be surprized ? Either the money goes " via Greece " to repay the banks and keeps Greece in the euro & EU , or the banksters get the money directly if Greece defaults. Obviously they don't let the Greeks go . The losers are the europeans , through taxes , no interest on their money , bail ins, devaluation , higher pension age,....

And I lose too. As a tax refugee , I have to stay in Thailand even longer with no light at the end of the tunnel. Let's hope the stockmarket crash in China can lit a fire under the world's crooked financial system.

[Basil B]

Unless the government cuts spending which means a lot of the promised benefits they will never get out of debt.

I think that there is going to be a lot to hate if you are a greek but if you think you realize that you have to curb what you are doing.

This is a lesson that a lot of countries like the U.S. and U.K need to heed.

The US is close to being in the same place as Greeece the only benefit they have is that they can print their own money.

We (the UK) would have been in this mess had we elected a socialist government five years ago who thought the answer was to spend their way out of the mess we were in.

Yes the last five years have been tough but we in the UK have built strong foundations for a brighter future.

[BuaBS]

We (the UK) would have been in this mess had we elected a socialist government five years ago who thought the answer was to spend their way out of the mess we were in.

Yes the last five years have been tough but we in the UK have built strong foundations for a brighter future.

Because the UK is up there with the rest of the money printers. Only the UK is more silent about it . If everybody is "printing money" , QE-ing or that ever you call it , how can currencies devalue ?

[Credo]

Wow. At least the US isn't alone in being able to put a good spin on a bad situation.

[micmichd]

Unless the government cuts spending which means a lot of the promised benefits they will never get out of debt.

I think that there is going to be a lot to hate if you are a greek but if you think you realize that you have to curb what you are doing.

This is a lesson that a lot of countries like the U.S. and U.K need to heed.

The US is close to being in the same place as Greeece the only benefit they have is that they can print their own money.

We (the UK) would have been in this mess had we elected a socialist government five years ago who thought the answer was to spend their way out of the mess we were in.

Yes the last five years have been tough but we in the UK have built strong foundations for a brighter future.

Are you sure? How much of UK belongs to foreign investors or banks like HSBC? Edited July 13, 2015 by micmichd

[SheungWan]

If the Greek government vote yes on this deal they will have sold their country to the EU. They will have to put 50billion of state assets into a fund the EU will control, then privatise these assets and use 50% of the sales to pay off debt. the other 50% for Greece to reinvest.

I really hope they vote against, because this will end badly which ever way it goes. Just delaying the inevitable, IMO.

Interesting to see if Tsipras is still PM come Wednesday?

If that is the agreement then excellent. Clearly the Greek government thoroughly incontinent in managing its own affairs.

[wabothai]

We were never asked whether it was OK to disperse billions to a corrupt country.

Neither were we informed in detail about where our money went.

Trust is long gone.

[Basil B]

Best thing Tsipras can do after they have voted for the reforms is call a general election because after failing his "single policy" election manifesto and the referendum fiasco the Greeks do no trust him, nor does Europe or the rest of the world.

[Publicus]

Somebody said Merkel wants reparations and that would sound good to me.

Beware of Greeks bearing promises.

[Asiantravel]

Best thing Tsipras can do after they have voted for the reforms is call a general election because after failing his "single policy" election manifesto and the referendum fiasco the Greeks do no trust him, nor does Europe or the rest of the world.

Huh ? After the reforms ?

Tsipras says summit outcome averts collapse of banking system and that says it all.

the banking system is the cancer and he caved into keeping it on life support.

Shame on him for going against the will of the people.

He is a traitor and will go down in history as a betrayor.

The birthplace of democracy is also now its deathbed because of him.

Edited July 13, 2015 by Asiantravel

[micmichd]

Nazis want reparations from Greece?

[SheungWan]

Nazis want reparations from Greece?

And that just about sums up the bankruptcy of what jokingly calls itself 'left'.