Of course austerity has a negative effect on GDP as it did in Ireland, Portugal and Spain. The difference with Greece, as I pointed out earlier in this thread, is that they failed to implement the fiscal and monetary structural changes that they had agreed to before they took the money. Had they done so they would have been in a better position. However this was the fault of the administration over the previous 5 years.



Despite the previous succession of poor governments in Greece there were some positive economic signs by January (small though they were) and as I said until these Syriza comedians took over and set the whole thing back by a further €50 billion. The debt will have to be restructured but without the necessary structural changes which include collecting taxes, real changes to the overgenerous pension terms for state workers, reducing the top heavy public sector etc etc




What Varoufakis and Tsipras say and do are quite different things. They may have had good intentions but they have made the situation much worse for the Greek people.

Their negotiating tactic was based on a scene from a restaurant in Athens: Greek Waiter speaking to the owner of the cafe [i"table 2 can't pay their bill.......they've taken a vote, hoping you'll reduce the amount owing and lend them the money to pay the remainder"[/i

Given the recent terrorist bombing in Turkey which is threatening to destabilize yet another nation on the front line of the US & EU's assault on Russia please tell me that at least ONE OR TWO OF YOU are beginning to think Greece's current predicament might just have something more to do than "debt"?

It's depressing seeing so many people channeling the opinions and arguments of major media sources (verbatim) as though they were their own.

Now the duplicitous Varoufakis faces treason charges for hacking taxpayer accounts in a secret plan for Grexit

Source?

By that I mean a credible, verifiable souce

Which part(s) of the story are you unaware of and are challenging?

1. That Varoufakis had a covert Plan B to use a secret parallel banking system to raid central bank reserves by hacking into the tax system accounts and restore the drachma?

2. That the supreme court has referred the case to parliament to vote on whether he should lose his immunity from prosecution

3. That all those implicated face criminal charges and that Varoufakis could also face charges of high treason and breach of duty

Quote ="cod'ead"Source? By that I mean a credible, verifiable souce'" Not really... www.dailymail.co.uk/news/article ... otice.html

Quote ="cod'ead"Source? By that I mean a credible, verifiable souce'" Not really... www.dailymail.co.uk/news/article ... otice.html

Quote ="Charlie Sheen"Not really... www.dailymail.co.uk/news/article ... otice.html'" Wrong. The details of the secret plan were divulged by Varoufakis on July 16th in a teleconference with investors a recording of which was released by the Official Monetary & Financial Institution Forum which hosted the session. I read the various reports in the Times, Reuters and FT. The disgraced arch villain Varoufakis himself has boasted about it on his own web blog and twitter.

Quote ="Charlie Sheen"Not really... www.dailymail.co.uk/news/article ... otice.html'" Wrong. The details of the secret plan were divulged by Varoufakis on July 16th in a teleconference with investors a recording of which was released by the Official Monetary & Financial Institution Forum which hosted the session. I read the various reports in the Times, Reuters and FT. The disgraced arch villain Varoufakis himself has boasted about it on his own web blog and twitter.

Do you think you're narrating a Bond film?

So you use selective passages from three different publications, cobble them together and come up with your usual bull[is[/ihit.

That's the sort of trick a 13 year-old would try to pull with his homework and he'd be pulled up for it too

Wrong as usual. The three reports I read had exactly the same story as I reported.

So I repeat my questions which you have avoided answering ie: which part(s) of the story were/are you unaware of and were or still are challenging and which do you consider to be bull?

1. That Varoufakis had a covert Plan B to use a secret parallel banking system to raid central bank reserves by hacking into the tax system accounts and restore the drachma?

2. That the supreme court has referred the case to parliament to vote on whether he should lose his immunity from prosecution

3. That all those implicated face criminal charges and that Varoufakis could also face charges of high treason and breach of duty


Why is it that one eyed lefties so quickly use an insult when they are unable to form a sensible argument?

Lord Elpers out of touch and sense as normal.

I've read Varoufakis's blog and can find no mention of the bollox Standee's currently spouting

Have you read the transcript of the conference call between Varoufakis an investors? And will you now answer my three questions that you keep avoiding?

I can comment on facts, not your wild speculations and fantasies

You are in denial.

This whole story came about when Varoufakis boasted about his secret plan in a conference call that was recorded. Unlike you he doesn't deny it. Several different groups including MP's are seeking to take him to task about this with various charges.

Common sense finally starting to prevail?

[urlhttp://www.bbc.co.uk/news/world-europe-33945263[/url

Yep. There needs to be an element of debt relief. Greece, if they were a company, would be in administration right now and the creditors would receive pence in the pound for what they're owed.
The same needs to happen here. The creditors took a risk lending money to Greece, so that risk now has to be realised.

Tsipras gone already - what a joke these extremist leaders are.

That woman being one of the worst and the country is still suffering because of her ridiculous dogma driven policies.

BTW, how are you getting on with answering my questions from a while ago? Struggling to find a logical coherent response?

And this from someone whose posts usually consist of just smilies with no attempt at a coherent response

At the forthcoming general elections in Greece will the former leftie PM Mr Tsipras having tried and failed with an anti-austerity doctrine now campaign on a full (worse than before) austerity ticket?

Wouldn't it be easier to just use the one log in?

Try it and find out.