' GREECE THREATENS " I SAY GET THEM OUT

Greece Threatens No IMF Repayment Without Deal



The stakes are raised again in the tortuous cash-for-reform negotiations as rival loan plans face scrutiny in the hunt for a deal.


SKY NEWS
Wednesday 03 June 2015


Greece's Prime Minister Alexis Tsipras addresses a news conference after an European Union leaders summit in Brussels
Alexis Tsipras refuses to accept that bailout cash must come with austerity



A spokesman for the ruling party in Greece has said there will be no debt repayment to the International Monetary Fund (IMF) on Friday without the prospect of a new aid deal.

Nikos Filis made his comments to Mega TV in Greece as negotiations continue on unlocking €7.2bn in bailout funds in return for further financial reforms.

Greece's creditors; the IMF, European Central Bank (ECB) and European Union produced a new draft offer on Tuesday, hours after the anti-austerity Greek government submitted its own revised terms.

The rival plans are set to be discussed by eurozone finance ministers while prime minister Alexis Tsipras is also due in Brussels for talks with the president of the European Commission.

The two sides are said to be closer to a deal but it is clear that differences remain.

The threat issued by Mr Filis emerged at the same time as an interview given by the German finance minister, who accused the Syriza party of misleading voters ahead of January's election.

Wolfgang Schauble told the weekly paper Wirtschaftswoche: "Europe is based on mutual trust.

"You have to act sensibly, that is what makes the current talks with Greece so tiring,

"In the last election, Syriza succeeded in talking Greeks into believing there is a simpler way to stay in the euro - a way without major reform efforts that are actually in Greece's interests.

"Perhaps they shouldn't have made promises like that."

Greece is due to a payment of €300m to the IMF on Friday - the first of four this month totalling €1.6bn.

It is feared that without a deal in the coming days, a default on its debts is inevitable especially as Greece has pledged to prioritise the payment of wages and pensions to public sector workers over debt repayments.

Considering the position they are in I think they should think more carefully about how they act and what they say.

I agree that the IMF has to take a strong stance against Greece on this and yes, the Greece Government must move more to repay.

But, it goes much deeper and further back than that - it is not a straight forward issue.

It was the European union who pushed a lot of these smaller Economic Countries within Europe to Join The EU and all the so called Benefits that it would bring with membership.

A lot of the smaller countries that jumped at the chance have done very well - Malta,portugal, etc and their citizens have benefited greatly.

Greece however was already a medium sized economicly stable country - whose citizens rushed to embrace all the benefits but somehow the Rules of the EU have worked against them.

Do you think that It is not a coicidence that the smaller economic pre EU countries -eg, Malta, Portugal, Latvia, Croatia, etc have all done very, very well. And the so called larger European Economic countries -eg , UK, Germany, France, Netherlands, etc have done very well.

The countries that seem to struggle along are the pre EU Medium sized countries - Greece, Spain, Italy, etc

Personally, I cannot understand - I thought that the whole point of Countries Joining The EU was to have an Equal Europe ? (if that is so, how come my German Brother-in-law who worked for Mercades-Benz car factors plant factory in Germany as a line manager, was sent to the Chech republic to help open and train chech' workers in a new factory in Chech republic) they pay the workers half the salary and cheaper production costs - now Brother-in-law out of a job unless he relocates ???

Makes a mokery of the whole European idiology - CRAZY, CRAZY.

But, I could be wrong?

What is your view?

Blooobirds Forever !!!

I say good on Greece. The IMF are full of crap, corrupt and continuously peddle this lie that governments working on a foundation of debt is a good thing. The entire monetary system needs overhauling massively and that is only going to happen if countries stand up to what is disgusting economical practice. Also, contrary to popular belief, Greece defaulting on its payments is not going to make things much worse anyway because the country is already in dire straits.

Also, one member state leaving the EU is a massive risk to the Eurozone project. What if Greece leaves, turns things around after short term struggles and then becomes prosperous? It gives the green light to every other country to go and do the same totally unravelling the EU project. There are already numerous countries that have fairly high levels of Euroscepticism and more will join them if they see a country leave the EU, even more so the Euro as a currency, and prosper.

Also, a new currency would plummet against the Euro but that isn't totally a bad thing. Cut taxation to draw investors to the Greek Isles through incentives and you'll also get a lot of foreign investment in properties whilst the value of the currency is weak leading to an eventual boom.

Its a disgrace that supposed educated economists continue peddling this complete lie that borrowing and debt is good for an economy. No, it is not. What is good for an economy is a high functioning workforce in the private sector making much more than the public sector costs to run to the point that the country runs an annual surplus and can afford to invest 'x' % back into the economy whilst offsetting a certain amount for future economic problems. What debt and borrowing does is (a) mean you lose assets to other countries or foreign investors and (b) it means you have to cut into your budget every year to repay debt plus interest. It's a complete farce all levied on the hard working taxpayers and its a disgrace.

The fact the IMF and ECB continue pussy footing around Greece as well tells you everything you need to know about (a) the EU's political and economic motives and (b) just how worried they are about a country leaving and becoming prosperous.

On top of that, if Greece defaults and leaves the Euro the markets would panic and worry that other EU countries might do the same. The panic could spread throughout the Eurozone and this could leave the Euro plus other Euro based currencies extremely weak. This is great news if you've got USD or GBP in the bank, not so much if you're in the Eurozone itself.

Continuing on, the concept of a bailout is complete and utter nonsense. Paying off debt with debt is the most moronic concept one could even begin to fathom. Giving money to a country that isn't functioning correctly on a fiscal level to pay off what it already owes is ridiculous. All you are doing is compounding the problem leading to more debt and an increase in the likelihood of an eventual default whereby there are more people who lose out.

Finally, our governments continuously like to tell us that 'bailouts' are a good thing and need to happen. Yes, they do if you have an inept government that does not have one iota of a clue about fiscal policy and therefore needs you, the taxpayer, to foot the bill in the form of bailouts, as happened with the banks. Of course, all of this is disguised in the form of taxation, fines for every little thing and high costs through administrative bureaucratic nonsense that in fact stifles the very capitalist nature of a true well functioning market.

The banks, as capitalism actually intended, would have been better off being left to fail and then new banks would have taken their place in the market. That is how capitalism works. That is a sign of capitalism working to its fullest. It is not a sign of capitalism failing. The banks being bailed out cost more people money than if they were allowed to fail and new competitors were allowed to emerge. The exact same thing has happened with Greece. That money being 'borrowed' to Greece comes at a cost to the taxpayer.

The governments are a massive joke. They interfere with your lives on a routine basis. They speculate constantly with your money and tax you and then expect you, when they make mistakes (biggest mistake during the last financial crisis was not a lack of regulation but TOO MUCH regulation) to foot the bill. They over regulated the private sector with all the bureaucratic crap that already harms the inflated public sector, leading to a corporatist model where the economy didn't function as intended, SME's were strangled to death through high regulation which costs money and this killed off competition leading to complete stagnation in the market. How the hell can an SME employ apprentices when its having to pay thousands upon thousands to get a certificate for this and a certificate for that?

Until we have an EU that actually understands how to manage money and national governments who understand how to manage money, these cycles of boom and burst will continue to happen because that is how the current system works. The government simply fails to put trust in the market to do well and therefore we all suffer as a consequence.

The financial crisis was a failure of bad governments, not capitalism or free markets. The current situation in Greece is the failure of governments as well. Sadly, governments are all full of self serving morons who have vested interests, thus they'll never learn because taxation, fines etc. continuously add to the public sector coffers and help line their own pockets so they can all live a life of luxury at our expense.

Who the f**k do they think they are ? They shouldn't have been given the funds in the first place!!! Kick them out

Considering the position they are in I think they should think more carefully about how they act and what they say.

Steve it's our tax money bailing them out

Who the f**k do they think they are ? They shouldn't have been given the funds in the first place!!! Kick them out

Totally agree with you Adam

They shouldn't have been given the funds in the first place!!! Kick them out

That is the fault of the EU, not Greece. Plus, kicking them out simply wont happen. The Eurozone will not risk it for both political and economic reasons.

What happens if Greece get no more money and Russia bails them out.
Perhaps Russia will then put up missiles defences in Greece like the UK and the other EU countries tried to do in Ukraine.
Its all tit for tat.

I blame Germany. Bailing them out then telling them to do a shit load of austerity. How is the Greek economy going to grow if they have to make huge cuts?

We were lucky because our economy will always bounce back. May not be as strong as it was in our hay day buts it's on the mend.

You can't expect Greece to stay quiet can you?

They need help in growing their economy thus they can afford to pay off it's debts.

They shouldn't have been given the funds in the first place!!! Kick them out

That is the fault of the EU, not Greece. Plus, kicking them out simply wont happen. The Eurozone will not risk it for both political and economic reasons.

Talking nonsense it is Greeces fault because they run a shite economy with nobody paying taxes and they voted for the bailout so how is it not their fault ?

I say good on Greece. The IMF are full of crap, corrupt and continuously peddle this lie that governments working on a foundation of debt is a good thing. The entire monetary system needs overhauling massively and that is only going to happen if countries stand up to what is disgusting economical practice. Also, contrary to popular belief, Greece defaulting on its payments is not going to make things much worse anyway because the country is already in dire straits.

Also, one member state leaving the EU is a massive risk to the Eurozone project. What if Greece leaves, turns things around after short term struggles and then becomes prosperous? It gives the green light to every other country to go and do the same totally unravelling the EU project. There are already numerous countries that have fairly high levels of Euroscepticism and more will join them if they see a country leave the EU, even more so the Euro as a currency, and prosper.

Also, a new currency would plummet against the Euro but that isn't totally a bad thing. Cut taxation to draw investors to the Greek Isles through incentives and you'll also get a lot of foreign investment in properties whilst the value of the currency is weak leading to an eventual boom.

Its a disgrace that supposed educated economists continue peddling this complete lie that borrowing and debt is good for an economy. No, it is not. What is good for an economy is a high functioning workforce in the private sector making much more than the public sector costs to run to the point that the country runs an annual surplus and can afford to invest 'x' % back into the economy whilst offsetting a certain amount for future economic problems. What debt and borrowing does is (a) mean you lose assets to other countries or foreign investors and (b) it means you have to cut into your budget every year to repay debt plus interest. It's a complete farce all levied on the hard working taxpayers and its a disgrace.

The fact the IMF and ECB continue pussy footing around Greece as well tells you everything you need to know about (a) the EU's political and economic motives and (b) just how worried they are about a country leaving and becoming prosperous.

On top of that, if Greece defaults and leaves the Euro the markets would panic and worry that other EU countries might do the same. The panic could spread throughout the Eurozone and this could leave the Euro plus other Euro based currencies extremely weak. This is great news if you've got USD or GBP in the bank, not so much if you're in the Eurozone itself.

Continuing on, the concept of a bailout is complete and utter nonsense. Paying off debt with debt is the most moronic concept one could even begin to fathom. Giving money to a country that isn't functioning correctly on a fiscal level to pay off what it already owes is ridiculous. All you are doing is compounding the problem leading to more debt and an increase in the likelihood of an eventual default whereby there are more people who lose out.

Finally, our governments continuously like to tell us that 'bailouts' are a good thing and need to happen. Yes, they do if you have an inept government that does not have one iota of a clue about fiscal policy and therefore needs you, the taxpayer, to foot the bill in the form of bailouts, as happened with the banks. Of course, all of this is disguised in the form of taxation, fines for every little thing and high costs through administrative bureaucratic nonsense that in fact stifles the very capitalist nature of a true well functioning market.

The banks, as capitalism actually intended, would have been better off being left to fail and then new banks would have taken their place in the market. That is how capitalism works. That is a sign of capitalism working to its fullest. It is not a sign of capitalism failing. The banks being bailed out cost more people money than if they were allowed to fail and new competitors were allowed to emerge. The exact same thing has happened with Greece. That money being 'borrowed' to Greece comes at a cost to the taxpayer.

The governments are a massive joke. They interfere with your lives on a routine basis. They speculate constantly with your money and tax you and then expect you, when they make mistakes (biggest mistake during the last financial crisis was not a lack of regulation but TOO MUCH regulation) to foot the bill. They over regulated the private sector with all the bureaucratic crap that already harms the inflated public sector, leading to a corporatist model where the economy didn't function as intended, SME's were strangled to death through high regulation which costs money and this killed off competition leading to complete stagnation in the market. How the hell can an SME employ apprentices when its having to pay thousands upon thousands to get a certificate for this and a certificate for that?

Until we have an EU that actually understands how to manage money and national governments who understand how to manage money, these cycles of boom and burst will continue to happen because that is how the current system works. The government simply fails to put trust in the market to do well and therefore we all suffer as a consequence.

The financial crisis was a failure of bad governments, not capitalism or free markets. The current situation in Greece is the failure of governments as well. Sadly, governments are all full of self serving morons who have vested interests, thus they'll never learn because taxation, fines etc. continuously add to the public sector coffers and help line their own pockets so they can all live a life of luxury at our expense.

why good on greece......its other countries money thats bailed this bucket of shit out.....