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Ethiomonarchist

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Stock markets around the world are treating with alarm the news that the Greeks have failed at forming a government.  A new election is now very likely and it is expected that the leftists will do much better thanks to their strongly anti-austerity platform.  Not sure this is the direction we want Greece to take..towards the far left.

http://bottomline.msnbc.msn.com/_news/2012/05/15/11710740-say-your-prayers-attempts-to-form-new-greek-government-fail?lite

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Ethiopia stretches her hands unto God (Quote from Psalm 68 which served as the Imperial Motto of the Ethiopian Empire)

"God and history shall remember your judgment." (Quote from Emperor Haile Selassie I's speech to the League of Nations to plead for assistance against the Italian Invasion, 1936.)
clark

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They should never have let Greece into the EU, and they should have kicked them out earlier at the first sign of this nonsense. Its absurd how a country so small can so badly affect world markets.
RamblingRoyalist

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I heard on the radio yesterday that there will be more elections in Greece on June 17.

Ain't parliamentary democracy grand?

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Before anyone asks, Louis-Alphonse de Bourbon is the King of France.

To every man upon this earth, death cometh soon or late. And how can man die better than facing fearful odds, for the ashes of his fathers, and the temples of his gods. - Thomas Babbington Macaulay

"Now the Prince has raised his banner, now triumphant is our cause/Now the Scottish Lion rallies, let us strike for Prince and laws!" --Wha Wadna Fecht Fer Chairlie, The Corries
Sujit

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Quote:
Originally Posted by RamblingRoyalist
I heard on the radio yesterday that there will be more elections in Greece on June 17.

Ain't parliamentary democracy grand?


Well if done correctly and with good political it is. But when there is none then we are f*ck. I remember reading that when this happened  twice in Norway before WW2 the king ask the labor party to create a government. The first time it was not so great but the second time was good.

MonarchistCatherine

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Quote:
Originally Posted by clark
They should never have let Greece into the EU, and they should have kicked them out earlier at the first sign of this nonsense. Its absurd how a country so small can so badly affect world markets.

The whole idea of the euro currency is idiotic, Greece's situation just proves it. And I wonder why the European politicians waste so much money on 'saving' Greece when its bankruptcy is almost inevitable?
Also, remember whose money they waste. Certainly not their own!
Greece needs a King, not stupid politicians!
Ponocrates

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The EU expanded quickly toward the end of the Cold War and it was thought to act as a counter weight to the Soviet Union.   Then after the Cold War the Former Warsaw Pact countries and the Baltic States were invited to join, I think, to firmly attach them to the West and not to slip back into Russia's sphere of interest.    However, if the EU only considered its economic advantage, I think it should have remained only with the original core countries: Germany, France, Belgium, Netherlands, and Luxembourg - roughly equivalent to the territorial realm of the Carolignian Empire - minus Switzerland, Austria, and northern Italy.  This would have given the EU a strong foundation and fairly cohesive policies.   Other non-EU countries could have entered into treaties with the EU until they had reached a relative parity, then invited to join.  Or perhaps it would never happen.   For example, I can't see Greece as ever ready to join. 

Oh well.

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BaronVonServers

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Looks Greece's exist is become more 'probable'...

http://www.moneynews.com/FinanceNews/ECB-Lending-Greek-Banks/2012/05/16/id/439299?s=al&promo_code=EECB-1

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Ethiomonarchist

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Quote:
"There is, of course, no panic, but there is fear that could develop into panic


The above was said by President Papoulias quoting the explanation by the governor of the Greek Central Bank after Greeks pulled out 800 million Euros from the banks on Monday alone.  If the current rate of withdrawal of funds continues, the Greeks will empty their banks inside of a month.  As banks always have less cash on hand than deposits made, many people will not be able to withdraw their money and that's when real panic would set in.  People are fearful that the government will revive the Drachma and convert their euro accounts to drachma accounts, and would probably want euro cash ...but nothing is very predictable here...

The thing is that the Greeks just don't want to have austerity today, just like they didn't want to pay taxes for all those years which led to this mess.  When you think about it, they could just kick back and evade taxes in all sorts of ways and enjoy massive subsidies from the Germans who paid for the roads and airports and the Olympics, but who are now not only asking for some responsibility in Athens, but are taking their vacation euros and spending them in Turkey...talk about rubbing salt in an open wound!

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The Lion of Judah hath prevailed.

Ethiopia stretches her hands unto God (Quote from Psalm 68 which served as the Imperial Motto of the Ethiopian Empire)

"God and history shall remember your judgment." (Quote from Emperor Haile Selassie I's speech to the League of Nations to plead for assistance against the Italian Invasion, 1936.)
BaronVonServers

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I found Turkey much more to my liking when I was hopping around the Med.  Of course that was back before the first Gulf War, there might be less welcome shown to a 'flagrant Christian' in Turkey today.....

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I am NOT an authorized representative of my Government.

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DutchMonarchist

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Reply with quote  #10 

Quote:
Originally Posted by MonarchistCatherine

The whole idea of the euro currency is idiotic, Greece's situation just proves it. And I wonder why the European politicians waste so much money on 'saving' Greece when its bankruptcy is almost inevitable?
Also, remember whose money they waste. Certainly not their own!
Greece needs a King, not stupid politicians!

It is legaly impossible to kick a country  out of the Eurozone - it can only leave if it decides to do so itself. So the EU didn't really have a choise when things had come so far. However, like Clark I think Greece should never have entered the Eurozone.

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