Atishoo atishoo we all fall down.

Stocked up ¥en you mean…

Vote yes for stability ??

Heard spam is lovely :(

great photo of a hot greak woman…..oh yeah theres an old guy in the background taking out his money aswell

It takes me back about 10 days, when the Spanish prime minister used those very same words.

“Never believe anything until it’s officially denied.”

If Spain gets funds for it’s bailout from the ESM, Italy will have to stump up a large proportion of them. So more borrowing by Italy when they’re up to their necks in it already. This Fiscal Treaty and ESM were very well thought out, NOT.

If you owe more than you have don’t you end up better off?

Why would you be better off? not for any reason that I can see. The consequence of a bank holiday is that customers can’t access their deposits for at least a month. ATM machines don’t work either. those who don’t keep cash and other necessities on hand are screwed. People will have to use their credit cards and risk not having access to their deposits when the credit card charges come due. Watch for a spike in crime as people resort to theft to feed their families.Watch for bank holidays in Spain, Greece, Ireland, the US and more in the coming weeks and months as the derivatives death star implodes.

http://m.flickr.com/#/photos/turgidson/3739250060/

Sad

I must have missed the part in the referendum text which refered to Greece.

Hmmm what was that “yes” for again stability ?
I must have missed class that day when the chuckle brothers lectured on that topic

Greece was the 1st country to ratify the Fiscal treaty. It did not bring any Stability to their country

@Patrick
People are taking their money out of Greece because they don’t want it converted into vastly devalued drachma.
Which is where saying no to the bailout agreements they signed up to will lead.
And refusing the Irish bailout agreements and going as far as turning euros into devalued punts is exactly what a lot of No proponents were proposing.
Greece is exactly what the ULA and the rest want Ireland to be like.
So lets see how this all works out for Greece…

Niall there’s bank runs across europe and even in Africa.
http://business.myjoyonline.com/pages/banking/201206/88229.php

Sean, I’ll assume you’re being ignorant to me. But then again, maybe you’re one of those survivalists who saves up little pieces of gold and silver in the hopes of global economic meltdown so you can say “I told you so”.

The policy in Greece is not working. Greece is now onto its 2nd “bailout” and things are getting worse not better. Heaping more debt onto an already heavily indebted country does not “bailout” that country. A debt problem will not be solved by more debt.

Greece is bust. It is only a matter of time before it leaves the euro. If new democracy gets power on Sunday, this will only delay the inevitable

The idea of Greece sharing a currency with the power house Germany, the most competitive country in the world is the economics of the madhouse. The euro is about 60% overvalued, as regard the Greek economy

A major restructuring of debt is the only solution to Greece’s problems. Bailouts are just putting off the inevitable, kicking the can down the road

Patrick, while I agree that Greece must leave the euro, it’s misleading to say the euro is overvalued.
The value of the euro is a problem if you decide to pay people a similar amount of them to people in Germany and people in countries with much weaker economies.
It’s a political choice that Irish PS workers for example, should be paid a similar amount of euros as those in Germany.
You could cut the cost of the Irish PS by replacing the euro amounts with punts worth a fraction of a euro.
But thats just a shortcut to avoid the nasty politics of cutting PS pay directly.
Obviously in the Greek the average pay is actually much less, but it’s the amount of benefits and pensions paid in high value euros that are the problem.
Again, you could cut the cost of that by paying those benefits in devalued drachma. But again, that just a shortcut to avoid the nasty politics of redcing those benfeits by legislation.

My point was that if the Drachma was reinstated it would drop by about 60%. Therefore the euro is overvalued by 60%, as regards the Greek economy. The euro is undervalued as regards the German economy

I agree, it’s all designed to keep the working man down for generations to come.