Prepare for meltdown

[duke63]

Greece calling Germany's bluff and Germany not wanting to set a precedent by backing down.

This is going to get very nasty and very painful i suspect.

http://www.bbc.co.uk/news/world-europe-33303105" onclick="window.open(this.href);return false;

[DaytonAndy]

I see no happy ending either. For at least a year now, all the money in Greek aid has looked like money down the pan. Ah the greeks have no money and can't afford their payments. Let's lend them some more money!!! Did you see Russia are apparently prepared to assist Greece? No doubt in exchange for allowing a serious Russian military presence on Greek land.

[Kwacky]

I foresee full scale riots in Greece.

I wonder if holiday goers are watching this unfold? I certainly wouldn't want to go there.

[C00kiemonster]

This has been coming for years. Yet another set of committee decisions that postpone and worsen the inevitable.

They should have let them sink when it all kicked off before and taken the hit all in one.

Im sure many instituions have already taken their money out and offset the risks. Not sure financial markets will fail too much, but the euro exchange rate and value will plummet imo.

In some ways thats suits me but not europe i would imagine.

[TonyB]

I foresee full scale riots in Greece.

I wonder if holiday goers are watching this unfold? I certainly wouldn't want to go there.

I've booked a week in Malia in August

[Blade]

I foresee full scale riots in Greece.

I wonder if holiday goers are watching this unfold? I certainly wouldn't want to go there.

Seems I just did it in the nick if time.

We went to the same resort this year as last year, holiday village kos.

It was good last year but exemplary this year and you good see they were really really trying hard to impress. I guess after tourism the Greek economy has very little to support itself so they obviously feel the need to make it very impressive which I have to say it was, so far play to them.

[duke63]

I foresee full scale riots in Greece.

I wonder if holiday goers are watching this unfold? I certainly wouldn't want to go there.

I've booked a week in Malia in August

Aren't riots in Malia the norm anyway?

[TonyB]

Not for me these days. Booked a family friendly hotel on the beach away from the clubbing area. Got a pretty good deal, booked before the recent palaver. Kind of wish I didn't now....

[duke63]

Greece could have been the UK and USA after 2008 IF we weren't able to print our own money.

[Blade]

We have alot of monoply sets in the UK so always a plan B if needed, plenty of cash to burn here in the UK

[duke63]

You can see why Germany and France are reluctant to do any deals with Greece and write off any of the debt. Maybe they should have looked at how much they were lending them beforehand and pondered on the prospects of ever getting their money back?

[Frankie]

wow - interesting figures

[Blade]

Yes I saw those figure the other day on bnc news site.

Surely this must be the beginning of the end for the euro ?

[duke63]

Looks like the Greek people have rejected the bailout terms.

I bet the French and German governments are shitting themselves.

http://www.bbc.co.uk/news/world-europe-33403665" onclick="window.open(this.href);return false;

[Deegee]

I think next week could be the time to go hunting for holiday euros.

[Blade]

Had the same idea Deegee, great minds think a like.

I m looking at booking a long weekend end away hopefully in Venice with the missus in october. So will be trying to book it this week. As you say good time to book as euro is weak so Italian hotels should effectively be cheap and thanks to a low oil price air travel is relatively cheap.

[Blade]

I m also hoping will be a good time to buy some bike boots in one of the euro mega bike stores.

[D6]

IMF????


What's the mission impossible team leant Greece money for?

[DaytonAndy]

I've got to admit, I just don't get it! The whole situation is ridiculous. Lending more and more money to someone who quite patently can't even afford the repayments just seems wrong. Who benefits? I don't see any way back short of writing off huge amounts. Maybe Germany feel they are shortly going to own a nice little staging ground to play with...

[TonyB]

It's like A Wonga loan but on a bigger scale. Saying that though, Greece could have borrowed £100 from Wonga and still have the same repayments at they have now.