IMF and EU Greece bailout, tax on kebabs to rise...

Originally Posted by sjr4x4

“Eurozone members and the IMF have agreed a 110bn-euro (£95bn; $146.2bn) three-year bail-out package to rescue Greece's embattled economy......"


So this huge loan is to help Greece continue to pay off its huge erm loan, and stop it defaulting and going bust.

In the words of Sir Terry... "Is it me?"”

Was just reading the latest instalment on this Greek tragedy and was about to post a new thread, when I looked back at this post from May 2010.

So what exactly has changed in the last 5 years  

Somewhere up in the loft gathering dust I have a 5 million drachma note, I'll quite happily donate it to the Greek crisis, it's worth is around £2. Greece should never have been allowed to join the Euro in the first place, it already had huge debts and high inflation. It benefited Greece by joining the euro it didn't benefit any other country.... And sooner or later we'll all find out if we're all to pay the consequences of allowing them to join. Hopefully this will be the beginning of the end of the euro.... 

That doesn't help a public forum Andy 

So Greece's banks and stock market close for the day, the rest of Europe's stock markets nose dive and investors start buying gold.... This will be a turbulent week for the financial markets until the results of the Greek referendum are known.... For any of you that like the idea of being a reseller.... exporting wheel barrows may well be worth looking into   

I miss the drachma! Those were the days!

Just catching up with the beeb news to see if Greece is still in the Euro...

"...the Greek government has waited until well past the eleventh hour to request an entirely new third bailout.

It involves borrowing money from the eurozone's permanent bailout fund, the European Stability Mechanism - there is no mention of the IMF. Greece is asking for loans totalling €29.1bn to cover its debt repayments until the end of 2017.

But reaching an agreement on a third bailout could take weeks if not months."

Athens seeks new last-minute deal - BBC

So now we are talking about a new loan, to pay off the repayments for a couple of years of the old loan, which was needed to pay off the debt from the loan before...

If Greece was your mate asking for another tenner and promising to pay it back, you'd recommend some counselling or maybe the Samaritans?

Joking aside, I can't imagine what it must be like for Greek businesses and normal folk living through this year after year, waiting for your life savings to disappear in economic Armageddon.  

lol you don't want to air my views about the euro , I'll get banned

It really makes no sense that they can get another loan to pay off .Will just have to wait and see