Greece Votes Communist

[Gusington]

So - would Europe divide North/South, instead of the East/West we grew up with? Or maybe North/South and East/West if Russia continues its antics? And to think the 'End of History' was supposed to be 15 years ago. Oopsie.

[LongBlade]

So is this it for the EU? Will it split into "northern" and "southern" tiers, like separatists in Italy have been talking about for years?

Nah. Far more likely they'll split back into their original nations and currencies. Italy, Spain, Portugal...none wants to inherit the mess that is Greece. They all have their own problems and will attempt to solve them in their own ways.

[Gusington]

So 'one Europe' is just a sham? Charlemagne was all about it!

[LongBlade]

So 'one Europe' is just a sham? Charlemagne was all about it!

I don't know about Charlemagne but the EU was pretty much doomed from the start.

[endfire79]

well the Eurovision song competition still goes on, even Israel is in that one :) 

[OJsDad]

Now you see why the left in the US never implemented their social programs at the state level.  The other states would refuse to bailout a state that trashed it's economy with poorly planned programs.  But at the Federal level, all you need is a majority and you trap the whole country.  The Federal government has more options to borrow than states do and the people cannot get a ballot initiative to repeal a program.

[Gusington]

Sometimes I think that the natural state of [Western] Europe at least is a large bloc of trading neighbors, sort of the way the EU began, with the Benelux countries, Germany and France.

Then I get a grip and think that just a group of sovereign nations that aren't trying to destroy each other is good enough.

[endfire79]

Yes sort of. 

When things stabilize (hopefully), I'll visit the other half of the family with the wife and baby.  Still a great place to check out. 

[GDS_Starfury]

might get some really cheap vacation deals soon.

[LongBlade]

might get some really cheap vacation deals soon.

Especially on the north shore of the Black Sea.

[MetalDog]

Greece will honor its debts:


http://finance.yahoo.com/news/exclusive-greece-pledges-honour-debts-111305042.html

[jejo68]

Greece will honor its debts:


http://finance.yahoo.com/news/exclusive-greece-pledges-honour-debts-111305042.html

No it wont. Greece ask for 6 month extension of the loan so they can find alternative ways to wiggle out of paying. They have had 6 years to plug the holes in their economy, but they dont want to, just like spoiled brats. So whatever gives you the impression that now they will suddenly turn around and act mature.

[endfire79]

Greece will honor its debts:


http://finance.yahoo.com/news/exclusive-greece-pledges-honour-debts-111305042.html

No it wont. Greece ask for 6 month extension of the loan so they can find alternative ways to wiggle out of paying. They have had 6 years to plug the holes in their economy, but they dont want to, just like spoiled brats. So whatever gives you the impression that now they will suddenly turn around and act mature.

Actually, the last party in power led by Samaras had a plan that it was following.  Syriza (Tsipras) promised to get rid of austerity and it got voted in.  After a lot of bravado in front of the EU however, now Tsipras is promising to continue where the last party left off and maintain 'fiscal balance'.  I agree with Jejo (in this case).  I do not fully believe Tsipras 100%.

Greece pledges fiscal prudence over interim extension period, source says

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_19/02/2015_547446

I think people have been hiding money for months.  Good luck.  They know if the govt decides to switch back to the drachma, that the banks will freeze assets so as not to let everyone take money out at once.

[airboy]

Germany & Finland have both rejected the "offer" from Greece.

http://www.telegraph.co.uk/finance/economics/11422438/Greece-faces-off-with-creditors-live.html

I did not comment earlier on the Greek proposal.  I thought that when the actual written proposal came out it would not match up with what the commie Greek Finance Minister said.  Turns out - my suspicions were confirmed.  The "Greek Proposal" omitted any significant means of checking to see that the Greeks actually abided by any agreement for the 6 month extension.  The proposal also was almost as uselessly vague as their previous "offers."

Always have to read the fine print in financial offers.

[bayonetbrant]

I think Greece pulling out of NATO is pretty funny actually.  Let them.  And then let Turkey attack the southern half of Cyprus and the islands in the Aegean they don't already have.  Europe chuckles while the Greek flounder about.