Greece Watch...

Little John · Post by **Little John** » 15 Jun 2015, 23:50

On the eve of the very real possibility of a Greek exit from the Eurozone, with all of the political and economic fallout that would follow:

Not a single mention of the latest developments on either the BBC News at Ten nor Newsnight

Nothing, nada, zilch.

An unadulterated "media-blackout".

3rdRock · Post by **3rdRock** » 16 Jun 2015, 08:48

The Indie's got it covered this morning.

http://www.independent.co.uk/news/world ... 22163.html

Greece crisis: Athens poised on the verge of catastrophic debt default as bailout talks collapse

The world’s financial markets are facing up to the possibility that Greece could soon become the first country to crash out of Europe’s single currency. Talks between Athens and its eurozone creditors have collapsed in acrimony just days before a final deadline for Greece to unlock the €7.2bn (£5.2bn) in bailout funds it needs to avoid a catastrophic debt default.

The Greek Prime Minister, Alexis Tsipras, accused the creditor powers of hidden “political motives” in their demands that Greece make further cuts to public pension payments in return for the financial aid. “We are shouldering the dignity of our people, as well as the hopes of the people of Europe,” Mr Tsipras said in a defiant statement. “We cannot ignore this responsibility. This is not a matter of ideological stubbornness. This is about democracy.”

Post by **adam2** » 16 Jun 2015, 10:54

Little John wrote:On the eve of the very real possibility of a Greek exit from the Eurozone, with all of the political and economic fallout that would follow:

Not a single mention of the latest developments on either the BBC News at Ten nor Newsnight

Nothing, nada, zilch.

An unadulterated "media-blackout".

I am not convinced that it is a media blackout.
TV news caters for the sheeple who have a limited attention span. Greece has lurched from crisis to crisis WRT to debts and bailouts for years, and this is now yesterdays news and not very interesting to sheeple.
"entertaining" battles over the custody of a young child are more interesting to many people, together with general gossip, and sporting news.
You and I can see the potential consequences of the latest Greek crisis but to most people "oh there is always trouble in Greece, now who is going to win the footie"

The Greek crisis is well reported on the BBC website, and in the more serious papers.

3rdRock · Post by **3rdRock** » 16 Jun 2015, 16:58

http://www.bbc.co.uk/news/business-33146018

Greek shares fall for third day as euro exit fears grow

3rdRock · Post by **3rdRock** » 16 Jun 2015, 17:56

http://www.theguardian.com/business/liv ... ve-updates

Greece crisis: PM blasts 'criminal' IMF in defiant speech - live updates

Prime minister Alexis Tsipras has told his MPs that the IMF has “criminal responsibility” for the damage caused by Greece’s austerity programmes

Brinkmanship or are we about to witness a Greek tragedy?

UndercoverElephant · Post by **UndercoverElephant** » 16 Jun 2015, 18:07

Greece will eventually be better off out of the eurozone. It's like an amputation, pre-modern-medicine. The procedure and immediate aftermath would/will be very nasty indeed for Greece, but the long-term result of not doing it will result in a slow death.

3rdRock · Post by **3rdRock** » 16 Jun 2015, 20:26

http://www.theguardian.com/business/201 ... ras-eu-imf

Greek exit real prospect as eurozone hardens towards belligerent Athens

Tsipras’s abrasive tone and accusations of ‘criminal conduct’ by IMF stokes more anger as EU officials prepare to gather at Luxembourg last chance saloon

3rdRock · Post by **3rdRock** » 16 Jun 2015, 21:16

http://www.theguardian.com/business/liv ... ve-updates

Greece crisis: US Treasury urges Tsipras to reach a compromise

Tarrel · Post by **Tarrel** » 16 Jun 2015, 21:34

3rdRock wrote:http://www.theguardian.com/business/liv ... ve-updates
Greece crisis: US Treasury urges Tsipras to reach a compromise

Even though the Dow Jones index rose today, investors are still jittery about the eurozone.

Scott Brown, chief economist at Raymond James in St. Petersburg, Florida, says:

“The market is still anxious about Greece and would like the situation to be dealt with one way or another. The week-after-week uncertainty isn’t good for the market.”

Oh, what a f**king shame!

3rdRock · Post by **3rdRock** » 17 Jun 2015, 10:49

http://www.theguardian.com/business/liv ... banks-live

Bank of Greece warns of 'uncontrollable crisis' without bailout deal

Central bank issues chilling warning that Greece could be thrown out of the European Union unless it reaches a deal fast

3rdRock · Post by **3rdRock** » 17 Jun 2015, 16:34

http://www.theguardian.com/business/liv ... banks-live

Greece warns it cannot make IMF payment without bailout funds

3rdRock · Post by **3rdRock** » 17 Jun 2015, 19:34

http://www.theguardian.com/world/2015/j ... sis-people

'Making us poorer won't save Greece': how pension crisis is hurting its people

Post by **adam2** » 17 Jun 2015, 20:11

More here
http://www.bbc.co.uk/news/business-33164642

Basicly, money is provided each week by the European Central Bank, to Athens, to be used to keep the Greek high street banks open.
Without this money, most, perhaps all, Greek banks would have to close permanently.

I recommend the above linked to article.

Things could get very bad very quickly.