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Thread: Europe scrambles to pick up pieces of Greek talks failure

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    Europe scrambles to pick up pieces of Greek talks failure

    LUXEMBOURG (AP) — Europe was scrambling Friday to pick up the pieces after another failed meeting over Greece's bailout that reinforced fears that the country was heading for bankruptcy and a possible euro exit.

    Several European countries said openly they are getting ready for the possibility of Greece leaving the euro. And though there was no sign of panic in the streets of Greece over that prospect, officials say Greeks are taking money out of banks in growing amounts.

    As a result, the European Central Bank has scheduled a teleconference of its governing council to discuss emergency credit for Greek banks — just two days after it increased the amounts it was willing to provide. The ECB has been steadily increasing the credit it allows Greek banks to draw on.

    The ECB could turn off that support if it thinks Greece is going bust, but that's not expected ahead of Monday's emergency meeting of the eurozone's 19 leaders. The country needs a deal to get more bailout loans from creditors before June 30, when it has the first of a series of debt repayments it cannot afford.

    Europe scrambles to pick up pieces of Greek talks failure - AOL.com

    the PIIG issue is not off the table

    Europe still has trouble....and it isnt going away

    An EU official said 2 billion euros ($2.3 billion) had been taken out of Greek banks in the last three days.
    "Money is going out of the Greek banks faster than at any time before," said the official, who spoke only on condition of anonymity because of the sensitive nature of the situation.


    be aware of the issues, and what conceivably could do to the world's economy
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Monday is going to be a real mess in Greece.
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by gdgyva View Post
    the PIIG issue is not off the table
    Based on what?

    Europe still has trouble....and it isnt going away
    Europe always has trouble some where, so duh.
    PeteEU

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    It is all starting to unravel and if Greece leave I predict it will start an exodus with countries like Ireland, Italy, Spain looking to follow them. We have a big vote ( hopefully) in the next couple of years and right now I dont see any reason why Britain should stay on this sinking ship.
    ‘This is not peace, it is an armistice for 20 years.’ (Ferdinand Foch. After the Treaty of Versailles, 1919).

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by PeteEU View Post
    Based on what?

    Europe always has trouble some where, so duh.
    Was it not you about a month ago right here in the forums suggesting Greece is not in trouble and that all would be well? In the mean time it took another billion from the ECB just to ensure Greek banks could open on Monday.
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by OrphanSlug View Post
    Was it not you about a month ago right here in the forums suggesting Greece is not in trouble and that all would be well? In the mean time it took another billion from the ECB just to ensure Greek banks could open on Monday.
    No I said it was a game of chicken and politics. Greece has always been in trouble, but there is plenty of incentive for both sides to make a deal. The problem is the IMF.

    What I was quoting was the PIIGS comment because the only country in trouble is Greece. The rest are out of bailout or never were in it, and the economies for the most part are growing nicely. Only one that may be a problem is Italy, but they are hardly going to go under... they just have **** growth as usual. There is a lot of fearmongering going on from Anglo-American talking heads and anti-Europe peoples... Greece aint gonna kill the Euro or the EU and in the end they will make some sort of deal.
    PeteEU

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by Higgins86 View Post
    It is all starting to unravel and if Greece leave I predict it will start an exodus with countries like Ireland, Italy, Spain looking to follow them. We have a big vote ( hopefully) in the next couple of years and right now I dont see any reason why Britain should stay on this sinking ship.
    What is unravelling? Why would Ireland or Italy or Spain want to leave the EU?
    PeteEU

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by PeteEU View Post
    What is unravelling? Why would Ireland or Italy or Spain want to leave the EU?
    anti-austerity parties are growing in strength in these countries, a Greek exit and the aftermath it will bring will only strengthen their position.
    ‘This is not peace, it is an armistice for 20 years.’ (Ferdinand Foch. After the Treaty of Versailles, 1919).

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by PeteEU View Post
    Based on what?



    Europe always has trouble some where, so duh.

    IS THE euro zone at a turning-point? Policymakers, unsurprisingly, would have you believe so. They point to faster-than-expected growth in the fourth quarter of 2014: the euro zone as a whole grew by 0.3% in the quarter, and its biggest economy, Germany, expanded by 0.7%. The European Commission is forecasting growth in 2015 of 1.5%, which would be the euro area's best outcome since 2011 when it grew by 1.6%.

    Still, it's hard to get excited. France and Italy, the zone's second- and third-largest economies, stagnated in the final quarter of the year. Greece's return to the headlines has the potential to unsettle markets. And fears grow that the 19-member currency club may fall into deflation: prices are falling in Germany, France and Spain. The ECB has adopted measures to boost prices and growth—most notably by agreeing to a controversial programme of quantitative easing—but it did so for a reason.

    European economy guide: Taking Europe

    deflation can kill an economy.....

    and Germany alone cant hold up the region
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

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    Re: Europe scrambles to pick up pieces of Greek talks failure

    Quote Originally Posted by PeteEU View Post
    No I said it was a game of chicken and politics. Greece has always been in trouble, but there is plenty of incentive for both sides to make a deal. The problem is the IMF.

    What I was quoting was the PIIGS comment because the only country in trouble is Greece. The rest are out of bailout or never were in it, and the economies for the most part are growing nicely. Only one that may be a problem is Italy, but they are hardly going to go under... they just have **** growth as usual. There is a lot of fearmongering going on from Anglo-American talking heads and anti-Europe peoples... Greece aint gonna kill the Euro or the EU and in the end they will make some sort of deal.
    So what is your position on Greece? And your opinion on them being able to negotiate a stay in the EU/Euro or having to exit?
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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