Greece Embraces "Radical Leftist" Party

formersoldier71 · Feb 20, 2015

Jeroen Dijsselbloem, the eurozone's top official, said a deal was agreed on that will extend Greece's loans for four months, not the six months that the Greek government had requested on Thursday.

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In return, Greece has committed to not take any measures that might affect the country's budget targets. Greece has committed to provide a list of reforms based on its current bailout program for assessment on Monday.

Looks like everyone blinked.

formersoldier71 · Mar 7, 2015

The Greek socialist's reform proposal for cracking down on tax evasion is a goodie, hire Greeks to spy and inform on Greeks.

The inspectors are to be "hired on a strictly short-term, casual basis (no longer than two months, and without any prospect of being rehired) to pose, after some basic training, as customers, on behalf of the tax authorities, while 'wired' for sound and video." They wouldn't have the authority to challenge offenders, but their recordings would be used by tax authorities "that will use the collected evidence immediately to issue penalties and sanctions."

"The very 'news' that thousands of casual 'onlookers' are everywhere ... has the capacity to shift attitudes very quickly, spreading a sense of justice across society and engendering a new tax compliance culture," Varoufakis concludes optimistically in the letter that was leaked late Friday.

"Spreading a sense of justice", more like a sense of distrust.

Tsipras did acknowledge that the austerity budgets of previous governments have allowed Greece to "have primary surpluses rather than deficits."

Crazy. Spending less than you take in can lead to a surplus?
http://news.yahoo.com/tourists-wanted-crack-down-greek-tax-dodgers-164426981--finance.html

TIDE-HSV · Mar 7, 2015

I don't know what you do with a country where tax evasion is a tradition and custom. It's ingrained. The same thing is true of Italy, to a lesser degree. North Americans and north Europeans may gripe and moan, but they pay, primarily voluntarily. It's just a cultural difference. Don't even get me started on the "civilizations" stretching across the Middle East to the orient, where everything runs on bribes...

PattheCatinSaudi · Mar 8, 2015

TIDE-HSV said:
Don't even get me started on the "civilizations" stretching across the Middle East to the orient, where everything runs on bribes...

They're not brides, they are value-added service charges. Try getting your luggage thru customs in Egypt without paying the service charge.

seebell · Mar 8, 2015

formersoldier71 said:
The Greek socialist's reform proposal for cracking down on tax evasion is a goodie, hire Greeks to spy and inform on Greeks.

"Spreading a sense of justice", more like a sense of distrust.

Crazy. Spending less than you take in can lead to a surplus?
http://news.yahoo.com/tourists-wanted-crack-down-greek-tax-dodgers-164426981--finance.html

Obviously they know very little about modern economics!

Bodhisattva · Mar 8, 2015

formersoldier71 said:
Crazy. Spending less than you take in can lead to a surplus?

Paul Krugman read your post and his head exploded.

formersoldier71 · Apr 20, 2015

All's well.

Running out of options to keep his country afloat, Greek Prime Minister Alexis Tsipras ordered local governments to move their funds to the central bank.
With negotiations over bailout aid deadlocked, Tsipras needs the cash for salaries, pensions and a repayment to the International Monetary Fund. Greek bonds declined after the move, pushing three-year yields to the highest since the nation’s debt restructuring in 2012.
The decree to confiscate reserves now held in commercial banks and transfer them to the central bank could raise about 2 billion euros ($2.15 billion), according to two people familiar with the decision. It also shows how time is running out for Tsipras, a point made by European officials who addressed the matter at IMF meetings in Washington in recent days.

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The new funds may be just enough to pay the salaries as well as make a 770 million-euro-tranche owed to the IMF on May 12, the people said.

http://www.bloomberg.com/news/artic...vernment-cash-as-imf-payment-looms?cmpid=yhoo

Tidewater · Apr 20, 2015

formersoldier71 said:
All's well.

http://www.bloomberg.com/news/artic...vernment-cash-as-imf-payment-looms?cmpid=yhoo

Yeah, I do not see how this ends well.

crimsonaudio · Apr 20, 2015

There's far more to this sort thing than I understand - it must be that a collapse of the Greek economy would have far-reaching ripples that cannot be afforded with the Euro economies already stagnant.

Bodhisattva · Apr 20, 2015

Keep doing what you're doing, Greece. You'll be fine.

Tidewater · Jun 6, 2015

German Vice-Chancellor Tells Greece Europe Has Hit its-Limits
This will be interesting. When an unstoppable force (Greek socialist party) hits an immovable object (European patience), we'll see what will happen.
I believe Greece may just leave the Euro zone and opt to inflate the debt.

Bama Reb · Jun 6, 2015

Tidewater said:
German Vice-Chancellor Tells Greece Europe Has Hit its-Limits
This will be interesting. When an unstoppable force (Greek socialist party) hits an immovable object (European patience), we'll see what will happen.
I believe Greece may just leave the Euro zone and opt to inflate the debt.

If they want to solve all their economic ills, all they have to do is to follow the example of the present administration in the US. They can create a permanent welfare state and then tax their working class until they reach prosperity!

Tide1986 · Jun 6, 2015

Tidewater said:
German Vice-Chancellor Tells Greece Europe Has Hit its-Limits
This will be interesting. When an unstoppable force (Greek socialist party) hits an immovable object (European patience), we'll see what will happen.
I believe Greece may just leave the Euro zone and opt to inflate the debt.

Assuming they have any meaningful forces, EU countries could simply buck the UN and roll troops into Greece.

Tidewater · Jun 6, 2015

Tide1986 said:
Assuming they have any meaningful forces, EU countries could simply buck the UN and roll troops into Greece.

I would be stunned if force was employed. They will simply let the Greece go.

Tide1986 · Jun 6, 2015

Tidewater said:
I would be stunned if force was employed. They will simply let the Greece go.

I assume Greece is headed toward being far less democratic one way or the other.

crimsonaudio · Jun 6, 2015

It's been seven decades, but the Euros are still cautious about allowing - regardless of the situation - a neighboring country to fall into distress...

Bodhisattva · Jun 6, 2015

Greece is the bratty kid in the checkout line at the grocery store screaming for candy. We'll see if Europe is going to be the idiot parent who gives in to the bad behavior.

Bodhisattva · Jun 6, 2015

Tidewater said:
I would be stunned if force was employed. They will simply let the Greece go.

You know, bombed buildings would have to be rebuilt, thereby creating jobs ....

MOAN · Jun 6, 2015

You know them Greeks!! They can embrace just about anything at any given time! Great story tellers!!

Tide1986 · Jun 6, 2015

MOAN said:
You know them Greeks!! They can embrace just about anything at any given time! Great story tellers!!

Opa!

Greece Embraces "Radical Leftist" Party

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