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Thread: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

  1. #31
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by ConservaBill View Post
    YEP... ol' Glenn Beck called it again.. sorry... I know... It's GOTTA HURT!

    WORSE: He's still going to be right when it all comes tumbling down.. sorry...

    .....It's GONNA HURT!

    Since nobody is listening and too busy calling him names........ you don't know what's coming and you won't be ready...

    NOT TO WORRY!!! .... I'm sure Obama will take good care of you and your children!
    Moderator's Warning:
    Members should stay on topic.

    The above message contains no specifics offered by Mr. Beck that are relevant to the Greek debt crisis. Examples of concrete comments concerning the Greek crisis not generalized political soundbites would facilitate the discussion.

    Political swipes e.g., "I'm sure Obama will take good care of you" or commentary about criticism of Mr. Beck e.g., "Since nobody is listening and too busy calling him names..." do not add insight into the Greek debt crisis.

    Thank you.

  2. #32
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by donsutherland1 View Post
    Moderator's Warning:
    Members should stay on topic.

    The above message contains no specifics offered by Mr. Beck that are relevant to the Greek debt crisis. Examples of concrete comments concerning the Greek crisis not generalized political soundbites would facilitate the discussion.

    Political swipes e.g., "I'm sure Obama will take good care of you" or commentary about criticism of Mr. Beck e.g., "Since nobody is listening and too busy calling him names..." do not add insight into the Greek debt crisis.

    Thank you.

    You should really BACK OFF... your attempts at moderation are obviously skewed.. maybe you should have responded that way with:

    I feel sorry for the Greek people, but the Greek government should be ashamed of their spending patterns. Hopefully the Greek people will vote out the Panhellenic Socialist Movement and replace them with some real conservatives. Much of Europe is in a spending crisis due to the leadership of hard-left socialist parties. It seems America may be following in their footsteps with Obama's massive spending. My sympathies to the Greek people, hopefully they will make wise voting decisions in their next election.

    OR… I could call myself a rutabaga but that doesn't make it true. This collapse had nothing to do with "conservatives"; no, it was socialistic, marxist welfare statism; nothing conservative about that. But don't let that stop you from spinning...

    OR… The partisan hackery here is galactic. And you couldn't help yourself again, but trotted in Reagan to blame for spending. This has what to do with Greece? Nothing of course, but you are here to discuss Greece.....what a surprise

    OR… If it is partisan to point out the truth among the misinformation then sure call me partisan. Not my fault you cant admit your hero was a big spender.. the facts speak for themselves.

    OR… It was the conservatives that got them into the problem in the first place.
    OR… Shows how much you know about Europe.
    The US has been massively overspending since Reagan. Blaming Obama for something that started by the Conservatives favorite son is just pathetic.
    Like voting in the very people who got them into trouble in the first place?
    Really? How can you spin the facts to say that? The socialists have been in power in Greece sense the 80's.

    Shows how much you know about Europe.
    [/quote]
    OR… Well, as I'm seeing all these bail outs and national debts the facts would show that Europe is in a spending nightmare. Facts play no partisanship, the liberals in Europe have trashed the place.



    Maybe you should reconsider your position as moderator.
    CROUCH DOWN AND LICK THE HAND THAT FEEDS YOU; MAY YOUR CHAINS WEIGH LIGHTLY UPON YOU; AND MAY PROSPERITY FORGET THAT YE WERE MY COUNTRYMEN. -SAMUEL ADAMS

  3. #33
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    could anyone be naive enough to expect anything other than hopeful optimism from an eu commissioner and imf manager concerning a deal THEY worked out which THEY desperately need to work?

    get real

  4. #34
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by donsutherland1 View Post
    It should be noted that it remains to be seen whether Greece will be able to carry through with its obligations tied to addressing its larger solvency issue.
    you got that right

    and how will greece ever "carry thru" if the άνθρωποι all go on strike?

    Euro market meltdown resumes despite Greek deal - Yahoo! Finance
    Last edited by The Prof; 05-04-10 at 04:26 PM.

  5. #35
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by PeteEU View Post
    Then again Spain and Portugal and Greece are not much worse if at all worse than the budget deficits of the UK and US.
    no argument, here, we're all pretty far underwater

    and leaking

    a lot like that bp pipe in the gulf

    CNBC USA is spreading a rumor that Spain is going to ask for a bailout... wth, how about sticking to facts?
    well, that's what happens when a nation's credit rating is lowered

    which spain's was, last week

    fact

    Spain downgraded as Europe debt crisis widens - Yahoo! Finance

    What Greece did was much different. This was a combination of corruption, lack of tax collecting methods, and over all lazzie faire attitude, but the biggest problem was.. they lied to the markets. It is the last part that is the critical part.. they lied.
    we've already established that

    they lied about all that conservative-driven SIXTEEN MONTHS PAY per year

    LOL!

  6. #36
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by donsutherland1 View Post
    Until Greece demonstrates that it is carrying through with its obligations, in other words beginning to tackle its long-term solvency issue and thereby reducing its sovereign debt risk, its credit rating should not be upgraded.
    ???

    there's no danger anywhere around here (earth) of THAT happening, is there?

    what sober minded economist, banker or grade schooler is recommending the UPGRADING of greece's credit rating?

  7. #37
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by The Prof View Post
    you got that right
    The sooner the Greek government begins implementing the terms of its agreement, the sooner confidence can begin to be restored. The longer it waits, the more difficult it will be for confidence to be restored even as the EU/IMF mechanism addresses Greece's liquidity issues.

    Failure to restore confidence could lead to a spread of contagion and the need for a preemptive restructuring of Greece's debt by the EU and/or IMF. For that restructuring to be effective, one would probably be talking about eliminating perhaps 25% or more of Greece's debt per IMF case studies (along with harsher austerity measures than were accepted under the current framework). That scenario is not yet on the table, but Greece's government needs to begin to make progress on implementing the terms of its agreement relatively soon.

  8. #38
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Quote Originally Posted by donsutherland1 View Post
    The sooner the Greek government begins implementing the terms of its agreement, the sooner confidence can begin to be restored. The longer it waits, the more difficult it will be for confidence to be restored even as the EU/IMF mechanism addresses Greece's liquidity issues.

    Failure to restore confidence could lead to a spread of contagion and the need for a preemptive restructuring of Greece's debt by the EU and/or IMF. For that restructuring to be effective, one would probably be talking about eliminating perhaps 25% or more of Greece's debt per IMF case studies (along with harsher austerity measures than were accepted under the current framework). That scenario is not yet on the table, but Greece's government needs to begin to make progress on implementing the terms of its agreement relatively soon.
    no kidding

    but you really need to tell it to all the folks ON STRIKE, not me

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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Today, Bloomberg.com reported:

    The government’s legislation on the latest budget cuts is expected to be voted on in Parliament tomorrow. Papandreou has a 10-seat majority, enabling the government to push through the measures.

    IMO, Greece's failure to convene its parliament in a special session immediately after the EU/IMF deal was reached was a tactical blunder. Rapid parliamentary ratification of the program would have sent a powerful signal to the markets that Greece is serious about moving to address its structural fiscal difficulties.

    Instead, the very deliberate pace at which Greece has proceeded has signaled hesitation that has only served to increase doubts about Greece's willingness and ability to implement the terms of the agreement. At the same time, it has also allowed opponents of fiscal consolidation to organize crippling strikes aimed at pressuring members of parliament to oppose the program or seek an alternative package (one that avoids the sacrifices necessary to put Greece on a sustainable fiscal path).

  10. #40
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    Re: Greece Accepts Terms of EU-Led Bailout, ‘Savage’ Budget Cuts

    Who represents the people on strike? For the life of me I don't understand why they're on strike now, creating even more losses for the country. What's their objective?

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