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Post by L0gjICK on Jan 27, 2010 14:26:14 GMT -5
“Greece is bankrupt,” Roubini told CNBC.com at WEF. “Look, they have to ask China to help them out.” Greece is trying to get trying to entice China to buy 25 billion euros ($35 billion) in bonds, according to published reports Wednesday. If the situation becomes dire enough the European Union will be forced to help bail Greece out because it’s such a threat to the monetary union, he said. (The discussion came as Roubini tried to warm up after an hour on the CNBC set. The temperature as -20 Celsius at the start of the show, and Dr. Doom was trying his best to recalibrate with hot tea and warming his stockinged feet at a space heater). Not everyone is going with the pessimism. According to one participant, Dr. Doom needs to know when to stop with the Gloom. And there were big difference in the view of Roubini and Lloyd’s Chairman Lord Levene. Looking at banking regulation, it is not just enough to take proprietary trading and hedge fund activity away, there needs to be a return to the separation of commercial and investment banks, Roubini said. But Lord Levene said that Sarbanes-Oxley regulation didn’t change the shape of the world and that regulation in “blanket form” can drive the problem away to somewhere else. And as for banker bonuses, they are back to obscene levels, Roubini said. But the idea of bashing bankers, restricting their pay and expecting them to “all be good” is simplistic, Lord Levene said. www.cnbc.com/id/35094038
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Post by Kassandros on Jan 27, 2010 15:16:03 GMT -5
Yeah. .Greece is bankrupt according to AngloSaxon media.. as Greece couldnt host the Olympics.... as Greeks burned down the Synagogue in Crete... etc etc etc. I love your sources... Trust them. You deserve them.
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Post by leshte on Jan 27, 2010 15:32:26 GMT -5
Do you have any orthodox-brotherhood sources? Until someone else other than the anglo-saxons start paying Greece's bills we have to trust those I guess. When China starts paying we will begin to trust Chinese sources. Nothing to be ashamed of. California is bankrupt too.
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Kanaris
Amicus
This just in>>>> Nobody gives a crap!
Posts: 9,589
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Post by Kanaris on Jan 27, 2010 15:54:27 GMT -5
UPDATE 1-Juncker: Greece will not go bust or leave euro zone By Michele Sinner LUXEMBOURG, Jan 27 (Reuters) - Greece will not go bankrupt or leave the euro zone, the chairman of the single currency area's finance ministers said on Wednesday, adding that he approved of Greek budget consolidation measures so far. "I think that the risk (...) of state bankruptcy does not exist in Greece. I entirely exclude that hypothesis," Eurogroup Chairman Jean-Claude Juncker told reporters. "Greece has to know, and knows, that it has to make very serious efforts in order to consolidate public finances. It is doing it. We approve the (consolidation) efforts known to this date," Juncker said. He dismissed as "absurd" speculation that Greece might leave the 16-country euro zone as a result of its debt problems. A sharp upward revision of Greece's budget deficit for 2008 and a doubling of the deficit forecast for 2009 to 12.7 percent of gross domestic product have triggered downgrades by debt rating agencies and speculation on whether Athens would be able to service its obligations or be forced out of the euro zone. In response, Greece said it would reduce its budget deficit this year to 8.7 percent of GDP through welfare cuts, tax reforms and savings on public-sector wages. A stability plan aims to bring the shortfall to 2.8 percent in 2012, within the European Union's 3 percent limit, but markets doubt whether proposed spending cuts are realistic in a country where street protests often stymie reforms. "The programme as it was presented by the Greek finance minister at the last Eurogroup meeting seems to be an important step in the right direction, but we will base our final judgment on the European Commission report and the ensuing debate in the Eurogroup," Juncker said. The Commission, the EU's executive arm, is preparing an opinion on the Greek consolidation plan, but has not yet announced a publication date. Asked whether there was a plan to bail out Greece if it failed in its consolidation efforts, Juncker said: "I don't subscribe to the hypothesis where it would be necessary for others to intervene in addition to the efforts that the Greek government has to undertake itself." (Reporting by Michele Sinner, writing by Jan Strupczewski, editing by Dale Hudson) www.reuters.com/article/idUSLDE60Q1H120100127?type=usDollarRpt
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Kanaris
Amicus
This just in>>>> Nobody gives a crap!
Posts: 9,589
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Post by Kanaris on Jan 27, 2010 16:02:54 GMT -5
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Post by Emperor AAdmin on Jan 27, 2010 16:10:26 GMT -5
Dr.Doom Gloom
Watch rexxie make a masterpiece that begins with those
PS: Greece will be worse case bailed out and will be OK in my opinion. I heard many who complained when drachma was changed with dreaded and ultra-expensive euro.
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Post by kartadolofonos on Jan 27, 2010 18:34:05 GMT -5
a question of time the ticking time bomb !
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Patrinos
Amicus
Peloponnesos uber alles
Posts: 4,763
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Post by Patrinos on Jan 27, 2010 19:04:20 GMT -5
Hurry up...come and take the hundreds of thousands of Alvanous to save them...run...
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Post by Emperor AAdmin on Jan 27, 2010 20:52:23 GMT -5
Hurry up...come and take the hundreds of thousands of Alvanous to save them...run...
lol
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Post by redbaron on Jan 27, 2010 21:08:56 GMT -5
Hurry up...come and take the hundreds of thousands of Alvanous to save them...run... No don't take them.Let them where they are.Some one got to be there.In case the Greeks flood the world with immigrants again,from Europe to Australia to North America. You know that we can take good care of Greek land.Just take a look at N.Epirus.
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Post by EriTopSheqeri on Jan 27, 2010 21:36:09 GMT -5
Bailout Greece? rofl mao, seriously people, you really think European citizens would stand idle at their governments' decison to dump such a huge amount of money out of their pockets into saving a parasitic country?
lolololol
Considering the other states have their own problems, bailing Greece out would really be EU's downfall.
They aren't even thinking of helping Spain, which is a lot more important than Greece, and even in not as bad condition.
Greece will file for bankruptcy and s**t will hit the fan for at least a decade. Hopefully, in the meantime, the new generations will learn to leave with their hard earned money, instead of handouts (like in the past 30 years)
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Kanaris
Amicus
This just in>>>> Nobody gives a crap!
Posts: 9,589
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Post by Kanaris on Jan 27, 2010 22:30:50 GMT -5
Hopefully .... new generations can learn from this.... We wouldn't have this mess if we stuck to the Drachma.
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Post by insomniac on Jan 28, 2010 2:09:01 GMT -5
Why should this surprise anyone? Beware of Greek bearing statistics. If shpata was here, he would have an anthropological answer to this. Lying, deceiving, snake-like..etc Greece lied about their finance figures so nobody believes them anymore. There goes Aadmin's little baby... lol
In the end, Germany (or maybe China) would have to save them. Otherwise eurozone is in danger.
I actually thought EU would last longer. But these are evidently clear cracks in it.
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Post by chalkedon on Jan 28, 2010 3:15:31 GMT -5
Do you have any orthodox-brotherhood sources? Until someone else other than the anglo-saxons start paying Greece's bills we have to trust those I guess. When China starts paying we will begin to trust Chinese sources. Nothing to be ashamed of. California is bankrupt too. Its weird you mentioned California. I was watching a show yesterday where they were comparing how the Federal Govt works in the US in comparison with the EU. Its puts the question as to how far does the EU want to act like a single Federal economy when one of its members hits bankrupcy. So far they are keeping Greece at arms length and telling them to solve it themselves. This is the correct approach. However, if the EU was like the USA, the the federal govt would step in just like they are doing for California. I wonder...does anybody know how much corruprtion affects the US or Califorina more specifically ?
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Post by chalkedon on Jan 28, 2010 3:23:14 GMT -5
Pire kanenas grammi poso romba exoume gini ? na mas tin poune tora i alvanoi..gamise ta..
kai kati allo...exthes akyrosane i alvanoi to symfonia gia ta xorika ydata. Tha exoume kiala stin synexia...Ola ta ethnika mas symferonta tha pai kata dialou. Na min akouso kanenas na mou pei oti ftai o amerikanos i o agglos tote...Megalyteros exthros einai o ellinas telika.
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Post by danceswithpoodles on Jan 28, 2010 10:58:19 GMT -5
I agree.
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Post by todhrimencuri on Jan 28, 2010 11:04:41 GMT -5
Greek Farmers Continue to Block Bulgaria Border
Greek farmers are continuing to use tractors and heavy farm machinery to block border checkpoints with Bulgaria for a fifth day in a row, with media reporting that some two hundred lorries were stuck at the Kulata checkpoint Friday morning.
Local businesses report mounting losses due to the blockade. Bulgaria’s Agriculture Ministry and Ministry of Economy, Energy and Tourism received complaints from firms reporting a total loss of approximately 77.5 million leva so far.
Greek farmers set up barricades leading to the Bulgarian and Macedonian border on Monday to protest against their government’s austerity measures, including unpaid EU subsidies and some are asking for a freeze on the repayment of debt owed to the state controlled Agricultural Bank.
Cars and lorries carrying goods to and from destinations as far as Poland, Italy and Turkey are stranded on both sides of the border.
The farmers say they will carry on until their demands are met. A year ago when farmers blockaded the main roads across the country, they forced the former Greek government into agreeing to support package.
Bulgarian Prime Minister Boyko Borisov has accused the Greek authorities of not doing enough to clear the roadblocks, Novinite reports.
On Tuesday Economy Minister Traicho Traikov said Bulgaria is losing three million euro per day due to the protests. The timber, car and tourism sectors have all reported losses which the link to the blockade.
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Kanaris
Amicus
This just in>>>> Nobody gives a crap!
Posts: 9,589
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Post by Kanaris on Jan 28, 2010 11:47:50 GMT -5
Not bad ...Greece buys 3 million euro worth of stuff a day from Bulgaria.
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Post by danceswithpoodles on Jan 28, 2010 11:54:16 GMT -5
Can someone please explain this to me. I have brain fog. What is going on with these farmers....did their own government stick it to them in favor of foreign goods...explain please.
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Post by leshte on Jan 28, 2010 12:15:21 GMT -5
It all started when the former democratic governor was in place. He amassed deficits. What didn't help was Enron eating lots and lots of money from the budget with its criminal policies which would shut down California's energy so that the energy price would go up in the US. This is what happens when you listen to the RepubliCANTS and have a bunch of thugs wearing suits and piloting jets and you have no cop to oversee them and regulate their activities.
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