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Tricky

Tricky
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  • Shock expressed as Greece has no new plan [View news story]
    Well, given that lenders in 2015 don't really care about what happened back in 1800...
    Jul 7, 2015. 12:24 PM | 4 Likes Like |Link to Comment
  • Shock expressed as Greece has no new plan [View news story]
    The reality is that Greece has been so poorly run that it finds itself in a position that the only available external financing is from international workout funds or rates exceeding 10%. None of its leadership contenders have any credibility, the current one even less so. All the rest is kabuki dance.

    As of now, it's not even about Greece, they've used up any remaining goodwill. It's purely down to what the ECB/Germans think is the least bad outcome for the rest of Europe -- put another bandaid on the basket case or scare the bejeezus out of the other PIGS. I won't attempt to guess at which they'll actually choose.
    Jul 7, 2015. 11:51 AM | 5 Likes Like |Link to Comment
  • Greece to present new deal proposals [View news story]
    "To me, Greece would be better off outside the Euro so it could control its own currency instead of being ruled by Germany and France."

    I'd like to believe that, once they leave, they'll have no one else to blame... but they'll probably find a way
    Jul 7, 2015. 11:24 AM | 1 Like Like |Link to Comment
  • Shock expressed as Greece has no new plan [View news story]
    Most of those Germans are dead or soon will be, so there is that. Also, the country clearly showed an ability to change their ways (as did formerly emperor worshipping Japan).

    Greece... not so much.
    Jul 7, 2015. 11:19 AM | 19 Likes Like |Link to Comment
  • A New Deal For Greece [View article]
    Debutant is correct -- comparing Greek pension/family to [whatever]/family in the US is totally irrelevant. The only thing that matters is whether the employee + employer contributions were enough to fund the expected lifetime payouts, for all the beneficiaries.

    The problem with pensions is when the structure (i.e., scam to be funded by non-beneficiaries): 1) isn't properly funded, and 2) gets multiplied by a large number of people. It then gets exacerbated when you allow a large % of the potential beneficiaries to retire young, which hurts both the funding side and the payout side.

    No, Greece isn't the only entity with this problem (see Illinois). But has been among the most egregious, paying out way too much and way too long, given its OWN situation.
    Jul 7, 2015. 08:22 AM | 3 Likes Like |Link to Comment
  • Does 'No' Means 'Yes'? Greece On Double Secret Probation [View article]
    Senator John Blutarsky insists that it was, in fact, the Germans.
    Jul 7, 2015. 12:54 AM | 1 Like Like |Link to Comment
  • A New Deal For Greece [View article]
    @JasonC -- well done, one of the best comments I've seen on all the SA items related to Greece.

    I might add "if you find yourself in a position where >10% interest rates are your ONLY available financing option, you REALLY need to look in the mirror and have a brutally honest self-assessment of how you got to this state"
    Jul 6, 2015. 04:04 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece Votes 'No' - Now What? [View article]
    Andreas -- I do believe that you have missed the spirit of a well-constructed bit of sarcasm. Cheers ;-)

    Well done jhooper!
    Jul 6, 2015. 03:52 PM | 2 Likes Like |Link to Comment
  • ECB maintains emergency loan cap [View news story]
    You can retire whenever you want. Just don't expect other people to pick up the shortfall in funding it.
    Jul 6, 2015. 03:47 PM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece Votes 'No' - Now What? [View article]
    I agree, there are probably entire German families are living of fear of having to work into their late 60's so that they can fund Greek families who view it as their divine right to not contribute much to a pension fund that will start paying them in their mid 50's.
    Jul 6, 2015. 09:13 AM | 13 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece Votes 'No' - Now What? [View article]
    Greece can't fund its "culture and sovereignty" without sugar daddies
    Jul 6, 2015. 07:51 AM | 15 Likes Like |Link to Comment
  • A New Deal For Greece [View article]
    Greece simply doesn't belong in a hard money currency union with first world countries. The sooner everyone acknowledges that and plans accordingly, the better.

    Re: a New Deal for Greece -- they are not a credible partner for any agreement, why would anyone want to believe any of their promises? Maybe change the negotiation dynamic where Greece only gets relief AFTER they tackle their corruption, judiciary system, disability scams, and pension scams. Germany should let them stew for a while, let them contemplate the abyss.
    Jul 6, 2015. 07:33 AM | 7 Likes Like |Link to Comment
  • Greek tensions weigh on markets; Varoufakis resigns [View news story]
    I agree. The Greeks should be very proud that they ran up a huge debt by overpromising a welfare state that they could not sustain, and then walked the bill. How awesome.
    Jul 6, 2015. 06:20 AM | 12 Likes Like |Link to Comment
  • Greek tensions weigh on markets; Varoufakis resigns [View news story]
    The USA has a monetary, fiscal and political union. The EU only has a monetary union -- so the analogy is not relevant.
    Jul 6, 2015. 06:18 AM | 3 Likes Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    I agree. Like... the courage to pretend you are blind to collect a disability check, then throw eggs and yogurt at the mayor who has the audacity to crack down on your fraudulent behavior.

    Courage, Greeks!
    Jul 5, 2015. 11:03 PM | Likes Like |Link to Comment
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