Greece economic woes worsen as IMF says greece should have left Eurozone

[Stelio Kontos]

Greece's new national motto, posted on every road leading into Greece and at the airport terminals:

[Hiricine]

Having a government maintain monetary policy for one country is barely manageable. The idea of having a centralized government control it for over a dozen is just silly.

[Mafic]

When the Blood Sharks at the IMF are saying that Greece should have left the Eurozone that is when you know things are really, really bad lol.

[Kreeshak]

Maybe the government of Greece should have been more responsible with how they ran their country.

Maybe the IMF and Germany run the country instead since 2009?

[Blobfish]

Greece should sell a few Greek Islands to Chinese Government

Good strategic islands for missile launching areas on Europe.


Greece has 6.000 islands in total, scattered in the Aegean and Ionian Seas, of which only 227 are inhabited.

[Kreeshak]

Banks couldn't very well give out those loans if they didn't have willing, greedy borrowers that wanted to put luxuries on credit cards.

I am a greedy borrower, yet people don't give me money, because they know I can't repay them. Common sense?
I am a greedy borrower, someone gives me money, I can't repay them. Someone loses their money. Who's fault is it?

I am a rich nation and I want control over another nation, that I would have to go to war with to take that control. How about I lend them some money instead that I know they can't repay, and end up with every property and land and mineral and resource they owned at 1/10 or 1/100 of it's actual price?

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Greece should sell a few Greek Islands to Chinese Government

Good strategic islands for missile launching areas on Europe.


Greece has 6.000 islands in total, scattered in the Aegean and Ionian Seas, of which only 227 are inhabited.

Greece should actually bankrupt and turn into Venezuela, which is bad for the Greek people. But the payback (and karma) to that, would be the millions of refugees flooding the streets of those hypocrites who are pointing fingers feeling "safe" behind a keyboard. Let's see how that works out for them.

[Deleted]

Germany lend +-100 Billion with 2% interest and gave it greece and they have to pay 6% interest each year.
I would say that is alot of money for not so many work.

Are you sure it was 6%? source?

And then Greece could lent it to Russian who pay 8-10% interest each year. I would say that is alot of money for not so much work.

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Greece should actually bankrupt and turn into Venezuela, which is bad for the Greek people. But the payback (and karma) to that, would be the millions of refugees flooding the streets of those hypocrites who are pointing fingers feeling "safe" behind a keyboard.

Do not dare to speak about refugees and karma, becuse then the world will take a look how you treated the refugees who did come to Greece.... the Greece refugees is not my problem send them off to someone else.....

[Stelio Kontos]

Do not dare to speak about refugees and karma, becuse then the world will take a look how you treated the refugees who did come to Greece.... the Greece refugees is not my problem send them off to someone else.....

Greece is under no obligation to roll out the red carpet for economic migrants and refugees alike when it can barely feed and provide medicine for its own native population. That they get anything at all is a generosity.

[Blobfish]

My Idea to get Greece rich again is the Following.

1, Let Retired Westerners & Europeans live in Greece Visa free

2, Improve or have top notch medical facilities for the retired people.

3, Make lots of facilities available for retired Americans, Australians, English, French retirees etc.

Attract retired people to Greece. Retired people living on their savings have a bit of discretionary money
and retired people love the SUN. Which Greece has lots off.

If they can live of the cost of a oily rag for the rest of their retirement it will attract them.

Currently, a lot of retired Australians live in Thailand , as their pension goes so much further.

[Stelio Kontos]

My Idea to get Greece rich again is the Following.

1, Let Retired Westerners & Europeans live in Greece Visa free

2, Improve or have top notch medical facilities for the retired people.

3, Make lots of facilities available for retired Americans, Australians, Englishman, Frenchmen etc.

Attract retired people to Greece. Retired people living on their savings have a bit of discretionary money
and retired people love the SUN. Which Greece has lots off.

If they can live of the cost of a oily rag for the rest of their retirement it will attract them.

A lot of retired Australians live in Thailand , as their pension goes so much further.

That's already happening to a degree. I remember reading an article on how the US, UK, Germany, and other countries who don't have a lot of respect or regard for their elderly are dumping them off in facilities in Poland, Hungary, Thailand, Greece, the Philippines because their pensions go further there and the locals tend to be kinder and gentler with elders than back home.

[Blobfish]

That's already happening to a degree. I remember reading an article on how the US, UK, Germany, and other countries who don't have a lot of respect or regard for their elderly are dumping them off in facilities in Poland, Hungary, Thailand, Greece, the Philippines because their pensions go further there and the locals tend to be kinder and gentler with elders than back home.

I dunno, being retired and sailing around the Greek Islands seems Idyllic to me.

There is a "SWARM" of Baby Boomers about to retire and a bit of money to be made off them.

If Greece could attract well to do, or even medium income retirees who live on their own resources, then I am sure their economy will benefit as a result.

[Mayhem]

https://en.wikipedia.org/wiki/Budget....E2.80.9313.29

... ok i still fail to see how this is relevant to my post, thanks for nothing.

[Kiri]

Maybe the IMF and Germany run the country instead since 2009?

No, I don't think so. It would be counter-intuitive to artificially make them fail for either of them. It is one of the reasons why my University warned against the Euro. A monetary union without a fiscal one is just...silly.

[Vilendor]

Greece is under no obligation to roll out the red carpet for economic migrants and refugees alike when it can barely feed and provide medicine for its own native population. That they get anything at all is a generosity.

True, but it's their duty to protect the European border. There is a thing no one talks about: Yeah, Erdogan sent those millions when he wanted more money from the EU. But the Greeks happily let them trough and blackmailed the EU just as much as the Turks. They received billions for handling the situation and to aid those people and they stole all that money meanwhile all they did with those "refugees" is ship them in the country and point the finger to the direction of the closest Macedonian border.

[Stelio Kontos]

True, but it's their duty to protect the European border. There is a thing no one talks about: Yeah, Erdogan sent those millions when he wanted more money from the EU. But the Greeks happily let them trough and blackmailed the EU just as much as the Turks. They received billions for handling the situation and to aid those people and they stole all that money meanwhile all they did with those "refugees" is ship them in the country and point the finger to the direction of the closest Macedonian border.

Greece couldn't handle or house the massive numbers going in, many of whom walked overland to go north. Greece didn't have the manpower or resources to house over a million migrants. The funds from the EU came much later after the problem was already underway. How do you propose keeping a million people who don't want to stay in the country? Why should Greece house all the hordes when they don't even want to be in Greece? And considering how Greece has been treated by the countries the migrants DO want to go to, what do we owe them exactly?

[Vilendor]

No, I don't think so. It would be counter-intuitive to artificially make them fail for either of them. It is one of the reasons why my University warned against the Euro. A monetary union without a fiscal one is just...silly.

Of course IMF doesn't want to artificially make them fail. But their fiscal policy is a pile of bullshit and they refuse to change it. The only method IMF knows is more tax on the population, cut back the social benefits and privatize everything. I know, because that's what they demanded from us too, when my country was the second behind Greece in 2008 to collapse.

Instead we kicked the IMF out, taxed the profit of foreign companies brutally, the state bought back the private sector (electricity, water, gas etc) and lowered the prices, we cut back on the taxes of population and increased the social benefits for families and children. I'm not saying it's like in paradise here, but things are a million times better, the economy grows since 6 years, our debt dropped from 84% to 75%, all credit rating companies upgraded us multiple times, the unemployment is 5% etc...

[Stelio Kontos]

Instead we kicked the IMF out, taxed the profit of foreign companies brutally, the state bought back the private sector (electricity, water, gas etc) and lowered the prices, we cut back on the taxes of population and increased the social benefits for families and children. I'm not saying it's like in paradise here, but things are a million times better, the economy grows since 6 years, our debt dropped from 84% to 75%, all credit rating companies upgraded us multiple times etc...

Your leaders had the spines to do that. Greece's leaders are a bunch of cowards and sellouts.

[Triks]

There was a time when a lot of us would go and be seasonal workers in Greece. Some of the guys used to tell me stories how Greece looked like an entirely different world, in comparison to Bulgaria, Serbia and Romania. Even then the country's debt problems were well-known and that was in the mid-late 2000's, before this shitshow went down.

As a whole, the Greek crisis was mismanaged and anarcho-capitalism was enforced on them. It sounds naive but the debts should have been written off and the whole Greek tax and welfare systems should have been overhauled by German and French consultants.

Either way, in comparison to the Greek politicians our are starting to look like absolute wunderkinds.

[Vilendor]

Greece couldn't handle or house the massive numbers going in, many of whom walked overland to go north. Greece didn't have the manpower or resources to house over a million migrants. The funds from the EU came much later after the problem was already underway. How do you propose keeping a million people who don't want to stay in the country? Why should Greece house all the hordes when they don't even want to be in Greece? And considering how Greece has been treated by the countries the migrants DO want to go to, what do we owe them exactly?

No one said they should have house all those migrants. I said they should have protect their borders. You know, take in the refuge requests, prevent them to leave until the decision and kick the hell out those who are not qualified for refugee status aka 70% of those people whom they let in. And don't bullshit about Greece not being able to do it when we were able to do it. All it takes is willpower instead of PC virtue signaling. Patrol the fucking border, build a fence if it's necessary, stop sending taxi ships and bring back them back to where they come from, not in Greece. That's all. You know, basically all they should have to do is uphold the Dublin regulation....

[Ulmita]

Maybe not spend more than you got. Simple quite frankly.
But lets blame Germany for a corrupt buy-votes-with-lavish-promises policies in Greece.

Germany is blamed not for why Greece got "sick" in the first place, but rather for the "medicine". It is said, by multiple economists, international monetary organizations etc that the way things are DEBT WILL ONLY INCREASE.

It is projected that in the next 2 decades the DEBT WILL CLIMB CLOSE TO 400% of GDP. And that's why Sir they blame Germany. Because the whole planet says austerity didn't work in the case of Greece, but the Germans keep insisting on something catastrophic.