will greece default on its debt?

[WalterMitty]

most likely.

[Landslide Lyndon]

No.

Walter Mitty is talking about things he has no idea about, as usually.

[Bunwahaha [still dunno why, but well, so be it]]

And well, this isn't the right board.

[WalterMitty]

oh i know about bad governance.

[Bunwahaha [still dunno why, but well, so be it]]

I don't know what's really accurate about it, but I heard somewhere in the media that they falsified their figures in order to can get the Euro currency.

[Landslide Lyndon]

I don't know what's really accurate about it, but I heard somewhere in the media that they falsified their figures in order to can get the Euro currency.

As did most of the other countries.

oh i know about bad governance.

So do I. But I don't go around asking if California will go bankrupt.

[Bunwahaha [still dunno why, but well, so be it]]

I also heard someone saying [/well, that's just slightly relative to the topic] that a coffee could cost about 4€ there, is that accurate??

[Landslide Lyndon]

I also heard someone saying [/well, that's just slightly relative to the topic] that a coffee could cost about 4€ there, is that accurate??

If you're lucky...

[Bunwahaha [still dunno why, but well, so be it]]

I also heard someone saying [/well, that's just slightly relative to the topic] that a coffee could cost about 4€ there, is that accurate??

If you're lucky...

Knowing that outside of Paris here it is at about 1.5€/2€, just wow, especially knowing the average wages in Greece. Making the demonstrations maybe still less surprising.

What is the ambiance there, would it just be in the media, since the announce of that 'risk of default'?

[Landslide Lyndon]

I also heard someone saying [/well, that's just slightly relative to the topic] that a coffee could cost about 4€ there, is that accurate??

If you're lucky...

Knowing that outside of Paris here it is at about 1.5€/2€, just wow, especially knowing the average wages in Greece. Making the demonstrations maybe still less surprising.

What is the ambiance there, would it just be in the media, since the announce of that 'risk of default'?

Everybody recognizes the difficulty of our current situation (except the communists of course). The people blame for the most part the previous government and seem quietly resigned to new tough measures. There are some sensationalistic reports about a possible bankruptcy but the most serious analysts point that EU isn't going to let something like that ever happening because it would be a terrible blow to Euro's stability.

The situation here has been bad since 2005 when the Olympic boom started fading and the Karamanlis' administration proved to be the most incompetent since 1974. Tax evasion was always our national pastime, but it became a real pandemic the last years with the popularization of off-shore companies. Corruption is the other disease that hinders any economic growth and foreign investments. Our problems were deeply organic. The financial crisis was just the catalyst that brought the situation to a head.

[Gustaf]

I don't know what's really accurate about it, but I heard somewhere in the media that they falsified their figures in order to can get the Euro currency.

As did most of the other countries.

oh i know about bad governance.

So do I. But I don't go around asking if California will go bankrupt.

Greece did it the most though.

This illustrates the problem with the euro though. It will force through a common fiscal policy eventually.

[Bo]

Yes, it probably will. Greece needs to learn how to manage its money more effeciently, and having a new government might help. (Even though I have little knowledge of Greek politics, so someone can judge this situation better than I could).