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Some eurozone countries ‘dont want us any more’ – Greek finance minister

Evangelos Venizelos
Evangelos Venizelos
Image: Dimitri Messinis/AP/Press Association Images

Updated at 9.20pm

THE GREEK FINANCE minister has hit out at some eurozone nations who he claims do not want his country in the single currency any longer as the brinkmanship over a second bailout for Greece continues.

Doubts remain over whether the austerity measures approved by Greek MPs last Sunday will do enough to convince eurozone finance ministers to approve the release of funds as part of a second EU-IMF bailout.

The government in Athens has agreed a further €325 million in spending cuts as part of its effort to push for that second bailout deal, and this evening eurogroup chief Jean-Claude Juncker said he was confident that progress had been made on the negotiations for the second bailout.

Juncker said he believes eurozone finance ministers will be able to make a decision on Monday about releasing the bailout funds.

The state faces defaulting on a loan repayment of €14.5 million on 20 March unless it receives the funding, which is expected to total €130 billion.

Finance Minister Evangelos Venizelos said there were several countries who no longer wanted the heavily indebted nation in the eurozone.

“We have to tell the Greek people the truth,” Venizelos said. “There are many in the eurozone who don’t want us any more,” he is quoted by BBC News as saying.

It comes as eurozone finance ministers hold a teleconference on the issue this evening having earlier postponed a planned face-to-face meeting in Brussels until next Monday.

Several ministers do not believe Greece has offered enough assurances that austerity measures will continue to be enforced beyond elections in April when a change of government is likely.

However, the FT carries a letter to the Troika from the conservative Greek politician widely expected to win the next election. Antonis Samaras, from the New Democracy party, writes:  ”We will remain committed to the programme’s objectives, targets and key policies.”

During the teleconference officials will draw up “an inventory of what Greece has delivered, and checking if it is enough,” AFP quoted one Greek official as saying.

- Additional reporting by the AP

Earlier: Doubts remain over approval of Greece’s second bailout

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Comments (56 Comments)

  • Diarmaid Twomey 15/02/12 #
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    Greek Finance Minster Sherlock Venizelos!

    Reply
  • Tony Skillington 15/02/12 #
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    The whole European concept and ethos has been destroyed. It’s meant to be a ‘union’ but has turned into a two tier club..Germany and France have behaved appallingly in the way they have dealt with countries such as Greece. The entire European experiment needs to be examined.

    Reply
    • Sheila Murphy 15/02/12 #
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      hear hear Tony – the Community became a Union which seems to be devolving into a plutocratic organisation.

    • Gary Clowry 15/02/12 #
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      The only thing that’s surprising is that people are surprised that in a crisis countries can and will throw their weight around, especially given the making of the crisis. Ironically many of those calling for us to leave the EU as we are being bullied seem to forget that in the real world Germany and France are always bigger, richer and more powerful than us. It’s the EU that levels the playing field.
      It’s like a good friend is stuck for a few quid and you loan them money. All along thinking since they are an adult and they are your friend they will behave like they are an adult and your friend. But it turns out they can’t actually be trusted and have been lying to you all along. Worse than not getting your money back you have to loan them a load more to keep them off the streets. How would any of us behave when we are being basically ripped off?

    • Report this comment

      This is no experiment, we are legally up to our neck in it.

    • Andrew Dunne 15/02/12 #
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      Right on tony there will be blood in the years to come for what been done to european union and country’s in it ..

    • thomas walsh 16/02/12 #
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      @Sheila, a most wonderful use of the word Plutocracy, a word I fear is going to become more common in the coming decades!!

    • Sheila Murphy 16/02/12 #
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      thanks Thomas; I do think it’s a very appropriate description :-)

      Gary in your scenario about lending your pal cash etc,……. would you expect any other person associated with him to pay back the loan arranged between you & him together with interest? If your pal is that broke, how does that help?

  • Kevin McCarthy 15/02/12 #
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    It would be like if the U.S let one if its states go pear shaped. Terrible really. How would France or Germany like if the allies sat back after WW2 and let them clear up the mess. Short memories indeed. Very short.

    Reply
    • Report this comment

      The US federal govt. doesn’ have a problem with states going bust for the simple reason that it would let them go bust.


      
Why should German train drivers on €40000 bail out Greek ones on €100000?

    • Vic A 15/02/12 #
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      A comparison between wages in Ireland and Germany will also interesting as you seem to be taking the moral highground. You can perharps give us figures on the differences between German and Irish public sector wages while you are pointing the accusing finger.

  • Paul 15/02/12 #
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    Finance and industry sidestepping that meddlesome democracy thing again. They want assurances that whoever the Greeks vote in this April there’ll be no changes in Greece, even if the law requires a charade of democracy to happen there’ll be no real choice. Sound familiar?

    Reply
  • Réada Quinn 15/02/12 #
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    Saw the report on SixOne. It’s absolutely disgusting the threatening behaviour of EU towards Greece. And who pays? The guy on the street. Who’s next? We are! Unless we show solidarity.

    Reply
    • Report this comment

      The EU are asking the Greeks to stop telling lies about their finances before they give them billions more money.

      Is that so terrible?

    • Gary Clowry 15/02/12 #
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      The poor Greeks where there is currently 40-45 billion euro being evaded in tax. Where only 5000 ish people earn 100k euro a year according to their tax returns, in a country of 12 million. Who have blown other peoples money instead of actually collecting and spending their own. It’s absolutely disgusting all right Réada but not the way you’re suggesting.

    • Dec Rowe 16/02/12 #
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      Lead the way Réada! ;)

  • Eimear Lavery 15/02/12 #
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    Lads I have to say I feel sorry for the French & Germans.

    Like let’s be honest, we had a great fucking few years thanks to Europe & the majority of the money was coming from them. So while the Irish/Greeks/Portuguese/whomever are building art galleries in honour of a bus drivers mother just for the sake of having an excuse for a drinks night on a Tuesday, the French & Germans were investing & saving their cents. And they’re thinking to themselves “any day now, Ireland, Greece et al are going to give us something”. And we did. 20 years after their initial investment, back we came knocking on the door going “eh listen you know that cash you gave me there a while ago? Well it’s actually gone. More?” and like parents of adolescents, in they had to come & clean up the mess of a very long, very eventful party. But Jaysus lads, wasn’t it gas craic all the same????

    Modern day history simplified by yours truly!!!!!

    Reply
    • thomas walsh 16/02/12 #
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      And by scrimping and saving do you mean gambling on debt?! The next time I’m in PaddyPower betting on a horse at a 100/1 and I put a €1000 on him and he doesn’t come in I’m going to march up to the manager and demand my €100,000 and if he doesn’t give it to me I’ll take out a sawn-off and demand it. And he’ll give it to me, because the rest of the gamblers will be there demanding theirs…

    • Ardo Ci 16/02/12 #
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      If only…

  • Ciaran O'Hare 15/02/12 #
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    They’re better off out of the single currency as are we. It’s failed on a massive scale and has proven to only benefit France and especially Germany.

    They have no grounds to make the Greeks leave the EU none at all. The same applies to us too. The smaller nations in Europe should strike up their own trade treaties outside of the single currency to promote growth on an even keel instead of trying to keep up with larger more dominant economies such as Germany.

    The single currency doesn’t work, it’s failed, throwing money at it wont fix the problem. The markets know this and all leading economists know this. What France and Germany are doing is unprecedented and goes against the basics of global economics.

    Its inevitable that Greece will leave the euro currency. Likewise it’ll happen to Ireland and Portugal as our mounting debts are impossible to pay while we remain in the € and face years of austerity and negative growth.

    The sooner the nations leaders who are in trouble realize this the sooner the markets will respond positively and our futures will become brighter.

    Reply
    • Gary Clowry 15/02/12 #
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      What exactly do you think will happen if we leave the Euro?

    • Ciaran O'Hare 15/02/12 #
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      No one can say what will exactly happen. However typically we would print the punt and devalue the currency to pay off our debts and face a period of high inflation.

      Likewise the bondholders would have to suck up their losses and the markets would stabalise.

      The real issue is what is better for our nation? What would work quicker? What is more cost affective?

      What I do know is we will not be able to pay off the banks debts in our current setup. Without crippling our people for at least 10 years and up to 20+ before we see positive growth.

      You only need to look to the past or in more recent times Iceland for an approximation of what might lay ahead of us if we are forced out of the €.

      Just my opinion btw

    • Niamh Byrne 15/02/12 #
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      Don’t mind gary, he thinks he has the answers to everything and wants PROOF for anything that goes against the way he thinks. gary we have said this over and over again. Nobody knows whats gonna happen but I would like to give it a try, because you can be sure we are next in the firing line.

    • Gary Clowry 15/02/12 #
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      Yup silly me wanting to have facts. The thing is Niamh many very well educated people have a very good idea what will happen and it’s not good.
      Ciaran. Iceland is a poor example as we have lost more people from just construction than they have people in the whole country. We overspend by 15-20 billion a year so if we cut off the money flow that will mean an immediate cut of that much. Our new currency would devalue immediately given we’re not a country to be trusted. Inward investment would fall very sharply. Once we start printing the massive amounts of money we need our currency would devalue even further, prices will soar. Dole cannot be paid or certainly not at the levels it is now. All this would put at risk the many multi-national jobs. It seems to me that in your scenario we are guaranteed to go down the toilet with people living in tents on the streets.
      So if I can sum up what you’re suggesting, as long we ignore the many pitfalls it will all be for the best.

    • Ciaran O'Hare 15/02/12 #
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      Hmm I see what you mean about Garry lol I’ve come across this type of troll plenty of times on boards.ie

      Gary do you propose you know exactly what will happen? I was giving mere approximations not pure examples of what might or might not happen. Do you honestly think we aren’t headed for the shitter on our current path? You also seem to ignore we are already not trusted in the markets lol. Again instead of nit picking my opinions to support your own focus on what I’ve said. I haven’t been exact in anything yet you seem to suggest I have. Again it’s a matter of looking at what path is the best way forward and the most cost affective. Currently we are on a dark and dreadful path that will only lead us down the same road as Greece. This is our closest reference of what might be in store for us.

      We are next no matter what happens or what we say.

      I was giving you the benefit of the doubt by responding to you and as I’ve said I know your type and there is simply no debating with someone like you. As you need affirmation that you are correct an i am wrong. When really all I am doing is spit balling a few hypothetical scenarios that may or may not be inevitable.

      Thanks for the entertainment though lol

    • Gary Clowry 15/02/12 #
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      I get the impression Ciaran that by troll you mean people who disagree with you, height of arrogance no?
      I think that I don’t know what will actually happen. However what I do know is people like you are very poor at explaining how we magically avoid all the obvious pitfalls, some of which I outlined above. It’s underpants gnome logic… http://www.youtube.com/watch?v=TBiSI6OdqvA
      You’re very convinced you’re correct so I’ll give you the benefit of the doubt and assume you can really back-up what you say. So start your thread on boards.ie http://www.boards.ie/vbulletin/forumdisplay.php?f=99 and I’ll happily discuss this with you. Let us all know when it’s done.

    • Ciaran O'Hare 15/02/12 #
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      Lmao Gary you are the definition of troll lol. Someone who argues for the sake of arguing. I knew you were a boards.ie head just by your trolling lol.

      I never said I was correct you are turning it into who’s right or wrong. Again trolling lol. Niamh was right you must have a reputation at this sort of thing.

      I was giving my opinion not a 5 step solution to the European financial crisis lol. Get back into your cave ya troll ;)

      I don’t care if you agree with me or not. I don’t want people to but I’m guessing everyone has to agree with you or else you start this kinda rubbish and insults.

      It was a comment on an article not a request to get dragged into a bs discussion with a moronic boards.ie veteran troll lol.

      Troll troll troll lol

    • Gary Clowry 16/02/12 #
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      It’s telling that you think someone asking for factual information is a troll. Of course I’m guessing that’s only for people who disagree with you.
      I’ve come across people who believe the earth is flat, now they are very entitled to that opinion no matter how deluded it is. Them making this claim has no effect on me or this country generally so good luck to them. However when people claim that we can just leave the EU/Euro and it will all be peachy that does effect me and this country generally. So it’s damn well not okay unless they can support their reasoning. Spreading ill-informed opinion is not going to help us right now.
      You’re convinced we should leave the EU, yet you admit you don’t really know what will happen. Nor can you answer even basic questions about the pitfalls. But you’re still convinced… and I’m the troll. Right.

    • Ciaran O'Hare 16/02/12 #
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      Jasus Gary. Now you’re putting words into my mouth lol

      I never said anything about leaving the EU and I never suggested it’d be peachy lol. In fact I’ve said the opposite.

      I really don’t care if peeps agree or not. But I can’t stand egotistical muppets like you who just have to be right all the time and go to lengths to prove their own point. At this stage I’m not even sure what your point is? All I can see is a troll looking for an argument and is willing to twist a persons words to support whatever it is you’re trying to do lol.

      Read my posts carefully and think before you go off on a troll buzz.

      I won’t be wasting any more time commenting on your moronic approach to debating. Stick to the forums where you belong you stupid troll :)

    • Gary Clowry 16/02/12 #
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      There is no mechanism to leave the Euro, so any country exiting the Euro will probably have to leave the EU. Not to mention that we’d be breaking the agreements our government make with them. You might have forgotten to mention that bit. You said “They’re better off out of the single currency as are we”. But you admit you don’t know what would happen and you still haven’t answered any questions about the pitfalls. You make it sound so easy, we just leave and there’s a little bit of hardship, then it’s all peachy.
      You sit there with your smug attitude laughing at the supposed troll, simply because I asked you to explain why you are convinced it’ll all work out. You can’t explain, yet I’m still the funny old troll.
      It’s no wonder you don’t post on the Politics forum on boards.ie as anyone making claims has to support their claims. And let’s be very clear, you did make claims. You’d be torn a new one on boards.ie with that attitude, and not because you made claims, or that you don’t have all the answers but because you don’t have even basic answers. I personally don’t give a flying fúck about arguing to be right, but I am sick and tired of reading people in here saying things that they claim are true but cannot support. I’ll give you run-down of what happens in 90% of cases when I ask people questions… silence, name calling, general smugness or side-stepping. Guess what you haven’t disappointed.
      You made some claims about me personally too, a stranger on the internet, but I’m the egotistical one. When I asked you to post on boards I knew you wouldn’t, I knew you’d continue with the same smug bullshít.
      I know when I don’t know, which is why I don’t give people simplistic unsupported views.

    • Dec Rowe 16/02/12 #
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      I’m starting to think this Gary chap has vested interests in the this Government and Europe… Something fishy about him…

    • Niamh Byrne 16/02/12 #
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      He still doesn’t know whats gonna happen tho….just like the rest of us. ;)

    • Gary Clowry 16/02/12 #
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      What would you like to know?
      Do I work for the government organisation? No
      Do I work for any political organisation? No.
      Do I hate bullshít? Yes.

    • Ciaran O'Hare 16/02/12 #
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      Lmao @ how this is developing.

      Hypocritical, argumentative, egotistical, self righteous troll.

      Where are your facts backing up your claims?

      There aren’t any real facts to support what is happening right now because it’s unprecedented in economic terms. We are in unknown territory and there is a reason for it – it goes against how economics has been taught and managed to date.

      I still didn’t say it’d be easy and I never professed it to be the right thing to do. I did say the real issue is trying to figure out what path is the right path to resolve our issues in the most cost affective way.

      But of course you fail to recognize what I say and focus on whatever it is you can argue about = troll.

      So Gary, where are your facts to support these mechanisms you talk about? Are are you just making more stuff up?

      What is happening in Greece has never happened before in EU history.

      However there are EU member states who are not part of the monetary union but are still EU members so there is a precedent for that. Again you’re talking out your pie hole.

      I really did try not to reply to a muppet but alas you’ve dragged me down to your level.

      You need to learn how to communicate and how to have an open mind and understand there are different perceptions to everything. This is the human way.

      I’d love to agree with you but to date you haven’t said anything note worthy.

      I’ve told you I didn’t present a massive financial plan to save our country. It’s also clear you haven’t a billies what you’re talking about. Otherwise you’d present your case in a balanced coherent way that isn’t deliberately derogatory. You remind me of some of my American friends who are eight wing nut jobs.

      So finally stick to your forums where;
      A: there is enough room to post massive ideas
      B: people who will put up with your bullying
      C; a place where you belong.

      Thx for continuing to define the term Troll for everyone.

    • Ciaran O'Hare 16/02/12 #
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      @ Niamh I should’ve listened to ya. But this guy Gary is part n parcel of why so many people have a love hate relationship with Boards.ie of whom i know a lot of their admins. I used to be heavily involved with boards forums etc. It’s a great place to rant, rave and discuss topics of interest. Alas it’s poor deluded trolls like Gary that ruin it for the average poster. He’s a guy who shouts n screams to make a point and when it doesn’t go his way he gets cynical and abusive who likes to hide behind the argument of where are your facts without actually presenting any himself.

      So far he’s tried to insult my intelligence, integrity, twisted my words, made stuff up and still thinks he’s right without actually making a point. Sure I’ve responded in kind but that’s all I’ve done is react to a forum bully/troll.

      I don’t really take note of him. Perhaps he has no friends in the real world and has lost the ability to communicate because of the hours he spends online trolling for fights spouting his own rubbish.

      Ah well it’s fun all the same to think I’m annoying him and finally unveiling what he is TROLL.

    • Niamh Byrne 16/02/12 #
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      He won’t be happy now ciaran. You bad! ;)

    • Gary Clowry 16/02/12 #
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      Wow…Seriously can you not go one paragraph without having a personal dig. You could have posted all that easily in one comment if you took out all the bullshít ranting. You’re actually accusing me of bullying while having a go at me personally all the way through. I’m actually laughing. You’d be banned now if this was on boards.ie so I can see that would be another reason why you wouldn’t post there.
      Again I feel you’re missing the point. I agree with you that we don’t really know what would happen if Greece (or us) left the Euro/EU. Though we can have a very good idea it won’t be good. The thing is I’m not telling people to do anything. I’m telling people to not accept simplistic ideas of what they should do without asking critical questions. I’m saying to them if people cannot answer critical questions then they should be very vary of believing these people. Leaving the Euro has many dangers, even if we don’t in fact have to leave the EU. Your dismissive attitude to these dangers (and generally) certainly doesn’t make me want to believe you.
      I’m tempted to tell you more directly what I think but thankfully name-calling by children on the internet doesn’t really excite me enough.

    • Ciaran O'Hare 16/02/12 #
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      Awe Gary it’s ok like I said I responded in kind to your condescending comments and twisting of my words.

      Now you are making sense and I can finally see where you are coming from. But I have never professed to have all the answers. I made a general comment to an article re Greece being forced out of the Euro not the EU. I suggested they would be better off out of the Euro not the EU. Essentially they will be left with no other choice and invariably we will be next in Germany and France’s crosshairs.

      Again I didnt say it’d be easy but you know what it may be or may not be the lesser of two evils. No one is in a position to say what exactly is best. All we can do is respond to what is happening. The current EU response has never happened in history. We are in a unique economic problem. traditionally when a country is broke they devalue and print more currency. And as you say there are detrimental consequences in doing this but better the devil you know and all that. What the EU are doing is crazy in economic terms, the figures and staggering and the amount of money being thrown away is financially insane and has proven not to work. Therefore the only other choice is the tried and tested solution of printing your own currency and going through the pain until you gain positive growth and a stable fiscal policy. This has been the way since capitalism was born. Maybe at that time Greece will be allowed to apply to rejoin the currency. But there is no evidence or precedent in the EU that suggests Greece will Have to leave the EU something you suggest I’m suggesting.

      So like I said I’d be happy to debate it with you but I will not and can not debate with you the way I’ve seen you communicate so far.

      To be childish for a mo, you started with the condescending manner and twisting of my words. Leave that behavior at the door and we can waffle away. But if u don’t, don’t expect me not to reply in kind Gary.

      Take care

    • Dec Rowe 17/02/12 #
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      Gary, then why would you face disciplinary action from your employer if you were found to be non compliant as stated on another article?
      That bullshit that you hate so much is oozing from your pores!!!!

  • Kerryspirit Chris 15/02/12 #
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    Greeks are so good in blaming others but not looking on their own front door! No willing change…. they cheated their way in and now….well…. who doesnt want to learn…stays on the road..simple as that!

    Reply
  • Joe McDermott 15/02/12 #
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    The repayment is 14.5 Billion…not million.

    Reply
    • Kerryspirit Chris 16/02/12 #
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      Haha who talks about a racist rant? Where are you coming from? ;-) If you would read carefully you would see that it s about facts and the pages is about discusssing and expressin your opinion and if you can not take that and even insulting I guess you have no place here!

  • Kerryspirit Chris 15/02/12 #
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    I feel somehow for the Greeks as the debts – where has the money gone? I lived there several years and the people GET NOTHING, we talk about NOTHING. No Welfare, no unemployment benefit, no wages, in my times (2003) 500 a month and if you loose your job you move in with mum! And now the people have their shops closed in Athens or even destroyed – they are at point zero. No help from the government. They are soooo obvious corrupt and cheating…..the money goes ONLY into the politicians pocket who inherit their jobs and have ALL villas on every greek island. I know it is terrible for the people but Greece is like a barrel without bottom…. I believe their only way and EUs only way is DRACHMA! Hard times….At least Ireland has a kind of structure, state, Greece has NOTHING……wasted money to put in now as it will be sucked in and NO interest to fix the state – even not possible as a TOTAL change of mind is necessary……

    Reply
    • Report this comment

      Well said Chris, I have a Greek friend who says that non payment of taxes is a national pastime and the only people paying them are working for foreign companies. He also says that the Politicians will say anything to get the bailout and then start the merry go round again !

    • Kerryspirit Chris 15/02/12 #
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      yes james that s it. they will lie, cheat, everything to get the money and nothing, absolutely nothing will change. i loved living there but actually to BE ABLE to live there HELL!!!! i think it s absolute nonsense to give the money!

    • Gary Clowry 16/02/12 #
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      Public opinion in Germany seems to have swung in that direction. Initially the Germans were all for helping them out but now they just see it as a money pit. It’s probably best for everyone they go but it’s really going to be nasty getting by in Greece in the short-term.

    • Kerryspirit Chris 16/02/12 #
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      Yes it was always difficult as normal citizen to get by but now…. and the politicians take the responsibilty. Well Greeks were always quick turning to violence. I saw quite a few times while living there, school children violently protesting and shutting down a school. And we talk about 10-12 yr olds….
      Even me being German and not being a fan of the german attitude I understand them getting annoyed. Pumping money in a barrel without bottom and then the Greeks insulting the Germans and burning german flags. Feck it I understand if they dont want to pump money there… anymore. And also the Greeks have a very strong nearly sick kind of patriotism they really never wanted the Euro they always believed in their Drachma, which, I remember, was weak but it was like gold to them ;-) I was there when the Drachma changed to Euro! Politicians were hyper, the Greeks were not really…..

    • Réada Quinn 16/02/12 #
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      Your compassion is astounding Kerry. And as for your racist rant. You’re going to fit right in here. You’ll always find a lot to agree with you. Kick Greece when it’s down why doncha. Disgusted!

    • Kerryspirit Chris 16/02/12 #
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      *** now at the right place*** ;-)
      Haha who talks about a racist rant? Where are you coming from? If you would read carefully you would see that it s about facts and the page is about discusssing and expressing your opinion and if you can not take that and even insulting I guess you have no place here!

    • Réada Quinn 16/02/12 #
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      I see “love and light” has gone from your comments Kerry. Peace!

    • Réada Quinn 16/02/12 #
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      Think you should get back to your meditation mat Kerry.

    • Kerryspirit Chris 16/02/12 #
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      hahaha oh Réada Quinn oh Réada Quinn hahaha ;-)
      wish you all the love you seem to need hahaha

  • matt doyle 15/02/12 #
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    Iceland Iceland Iceland Iceland Iceland Iceland Iceland Iceland

    Reply
  • Stephen Travers 15/02/12 #
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    There is only one sensible resolution to Greece’s problem at this stage: A referendum must be held and, whatever the outcome, it must be respected and implemented by the very people that gave democracy to the modern world.

    Reply
  • Mark Rodgers 16/02/12 #
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    Matt I presume you like others think that Iceland is a role model……….well you are so wrong it’s sad.!
    The country’s debt exceeds 124 billion Euro which represents some 125% of GDP and a budgetary position that is frightening. Their Government is being compelled legally to compensate non National bank depositors and they have agreed to this in respect of the UK and Norwegians I believe. So there is nothing for us to learn here.
    Our last Government should have let Anglo slide into Dublin Bay but that didn’t happen for obvious reasons and we now legally have no choice but to accept and clean up the mess.

    Reply

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