Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

Greece news live: Germans tout plans for five-year temporary Grexit after Europeans warn trust is diminishing

Greece's future in the eurozone is hanging on a knife edge.

i don't believe it for a second ...... as i have written previously, there'll be much going on behind the scenes, and i still reckon that greece will be surreptitiously slipped say $200bn, perhaps directly or indirectly by usa, which will be earmarked for specific infrastructure improvements or similar

in that way, greece will seem to be paying its way and neither IMF or ECB will be seen to have "forgiven" any debt

Clearly, confidence from creditors in Greece is completely shot to bits.

Since the terms now offered by the Greek PM just to get a loan are now much worse than originally asked for, the Greek people are also confused and can't now have any belief in their political leaders either. Crazy!

Greece now have to exit the EU, IMHO, and they do have to take the holiday suggestion, leave the eurozone and go it alone.

Q. And so what about the other dodgy members too? This question is now very worthy of seriously being asked and the answer deservant of stronger consideration.

And will the markets now begin to believe we are now going to get a contagion?

I know it's the €urozone, and piigs really can fly.

But how to you conjure up a temporary exit?

They leave for a few years and have to fulfill the convergence criteria to get back in again after putting their economy right. It is effectively saying that if you are telling the truth about reforms then do them outside the Eurozone.

Ah, I see, so short of a miracle, they're gone forever.

Hopefully

I think a deal will be done and they will stay in. It looks like the Greeks will be asked to pass the necessary legislation for reform before they get any new money. They are not trusted to do it after.

sunday ig indices pretty spooked
ftse currently -44 and dow -80 but very silly spreads indeed

Greece must rediscover the spirit of Marathon to burst its euro shackles

German proposals to take over Greek state assets are tantamount to tyranny and must be resisted






By Boris Johnson

9:09PM BST 12 Jul 2015



There is a moment in most action-adventure movies when the hero is surprised by something nasty. There he is, trying to sneak his way into the enemy HQ when he hears a terrifying noise in his ear.


It is an oily little click. It is the unmistakable sound of a gun being cocked. His eyes widen; he holds his breath – and he knows he is being given a choice: surrender, or I will blow you away. That is the choice that faces Greece today, and the man with the gun is the German finance minister, Wolfgang Schäuble.


On Friday, the Germans tabled a document that is breathtaking in its candour and brutality. It marks a new departure in modern European diplomacy; indeed, at first I thought it must be a spoof. It cynically abandons the old pretence about the euro – that it was irreversible, a marriage for life. On the contrary, it turns out that divorce is very much on the cards, unless the Greeks submit.


If Greece wants to stay in the single European currency, Athens must prostrate herself in an act of doglike self-abasement that the ancients called proskynesis. If the Greeks want more of our money, says Schäuble as he waves his Glock/Schmeisser/Walther, they will have to do as follows.


First, they must simply hand over “valuable Greek assets of €50 billion” to be privatised – flogged off to decrease the debt. Who will do the privatising? Schäuble proposes that these Greek state assets – airports, electricity companies, whatever – should be surrendered to a body called the “Institution for Growth in Luxembourg”. And who is in charge of this institution, eh? Jawohl, meine Freunde! It turns out to be a front for the German KfW, the Kreditanstalt für Wiederaufbau, the state development bank that was set up, ironically, as part of the postwar Marshall plan to rescue the bombed-out German economy.


These Greek state assets may be tarnished, they may be indebted, but they belong to the Greek people; and now the 72-year-old Schäuble is seriously proposing that this family silver should be taken and sold by the Germans. Why the Germans? Because it is obvious from Schäuble’s proposals that he has complete contempt for the Greeks’ ability to run their own affairs.



More: http://www.telegraph.co.uk/finance/economics/11734869/Greece-must-rediscover-the-spirit-of-Marathon-to-burst-its-euro-shackles.html

their as been an agreement . it was never in doubt the eu would never allow Greece to leave it would destroy the eu. its just a game

german financers have all made millions . all are merkils friends the eu is rotten to the core .
the eu has never had its finances signed off why are they allowed to break the rules
when all banks would be fined for not having their accounts signed off

the rich greeks pay nothing the rest sent to the soup kitchen
its time for the greek people to bring the rich to book

it was done for release of news before the market opened . a con

WELFARE REFORM
guardian reports that harriet harman says labour will NOT vote against the cuts ..... fred and his pal jeremy corbyn must be finding breakfast impossible to swallow

kick out Harman and then the lab can start to rebuild but no chance with that cow in the party

i say everyone should vote for jeremy corbyn, for then labour won't get back in for at least another 2 elections :-)

Harman is backtracking today and saying that she is happy to be overruled regarding welfare cuts. She received so much flack from the left wing after she supported cuts on Sunday Politics.

cynic, that is your best post ever the man is anti English anti uk
the man is a dam lunatic .
lower than scum

once again cynic three cheers to you

I don't think Lab can get elected next time, no matter who the leader is.

not one of the 4 putting up for the leadership is any good crap

bring back john smith dig him up