GREECE SITUATION UPDATES: The death of a 19-year-old Greek student has come to symbolize everything that's wrong with austerity!!!

zerohedge‏@zerohedge

EURUSD LOD. Greece needs a 4th bailout already?

Business Insider‏@businessinsider

This Chart Shows How Unemployment Is In Spain And Greece Is Out Of Control by @j_berlinger [link to read.bi]

Time to cut bait. Is Elba far enough away from it all? I think not.

Silvia Wadhwa‏@EuroWadhwa

SPD may boycott Greece vote & push 4 date next week. "Not enough information & troika cancelled visit 2 finance committee" - Handelsblatt

muzzis is greece...

Covered here:
Thread: This is the kind of shit that has been pouring into Europe

Last Edited by insertfunnyusername on 11/27/2012 04:55 PM

For the GLP reaction.

Last Edited by insertfunnyusername on 11/27/2012 05:02 PM

zerohedge‏@zerohedge

Finland to Lose EU10 Mln a Year From Greek Interest Margin Drop - bbg

zerohedge‏@zerohedge

STOURNARAS SAYS THERE IS A PLAN B FOR DEBT BUYBACK. Er, debt sale?

11 minzerohedge‏@zerohedge

GREEK AVG. BOND BUYBACK MAY BE 28C-30C, SOURCE SAYS. Then 20... Then 15... Then whatever money is found in the dumpster

Hello Luis, IFun.
How are you my friends?

Here is an interesting article that says that the 31bn installment is currently on "air"
[link to translate.google.gr]

Last Edited by OXI Foveras on 11/28/2012 01:53 PM

Hello Foveras, doing good, hope all is well with you too.

Press here is celebrating about "saving" us again, it's getting ridiculous.

I see no celebration on the people though. Wait to see what's going to happen first. I have a feeling that this was just a good excuse for the IMF to bag out. Exchange will fail. You will see.

Last Edited by OXI Foveras on 11/28/2012 02:01 PM

The only thing it's gonna happen is further profits for the sharks in the deal that Greece will get a loan to re-buy debt at prices already double etc. Nothing changed, further profits for the banksters more misery for the people. You have some info about that the exchange will fail or is it your personal view bro?

No, just personal feeling. Something seems wrong. Noone knows from were the funds are going to be found exactly, the terms, what is the actuall amount required by IMF ( i have read from 20 to 40 bn). And all that just few days before the deadline. I dont know. Do they have suffecient time. If not happening until 12th of December (just 14 days from now) it will mean at least futher delay. Will see

That would be great news, i also have a feeling that something will mess up at some point, early 2013 is a certain, if it happens sooner even better imo. Lot of economists say that eurogroup solution buys time only until April at most, so we gonna see this play again soon. How are things with work? I'm thinking that i won't continue to pay my tebe anymore, no chance of paying my home and bills especially if i'm gonna be taxed from my first earned euro in 2013.

Every day it gets worst. Yesterday I got the lowest closing of the whole year (actually I didnt check it up but i think it must br the worst of the last 3-4 years). Today was very bad also. Only people in real need come in and shop. And now we are going to have more trouble as EOPPY changed the years that was giving money for prescription glasses from 2 to 4. Also the amount from 80 for far and 60 for near to 100 nomater if you get 1 pair or 2 pairs. Bad news for us as they main core of our busness was with EOPPY. I estimate, this will affect us with a further loss of 20% to 30%

Damn, sorry to hear that bro bad news indeed, even a good friend of mine that has a very huge family business is facing some problems lately, not with the amount of work per se, but with bad checks and unpaid bills from customers, the system ain't working even for healthy businesses right now, it's so fucked up. Freelance sucks too, i've no idea what i will do next spring, there are some good ideas for film projects but no funding at all from anyone, never seen that before. :(

It will get worst, it will. I am still stungling with Australia issue. I hope that soon everything will start moving a bit. To be honest I am delaying sometimes cause I spend so many hours at the shop, then the kids so I have few hours to devote on it. But I will soon.
As for your jobs, as far as I am listening this are getting to nowhere. I hope that you find something. Of course we should always keep on our minds alternative solutions. If SHTF I might go to Pyrgos and farm there. I dont know. I have make some preps so for a while I might be alright.

Australia yeaaah, they teach Greek language in their schools now i read somewhere, hehe, good luck with this. I'm not looking for a job, i do lots of stuff from audio-video editing, i dj around Greece, but the bread and butter of the annual income comes from film projects and we've only found the 1/3 of the money required to do the next one, maybe we could do it with half the money but it will be a shitty film if so. I do the farming thing every morning here in the countryside bro, it's very nice and refreshing and free organic food too, countryside also very cheap to live, i pay 1/4 of what i was paying for an old home in Athens, even beers and drinks in bars are half the price, hehe. I'm also in a legal battle for some 20 thousand in unpaid salaries, don't know what will happen with this if we go bankrupt or something, court was last month but was postponed due to strikes, waiting for a new date, if i get these money soon i'll be ok for the next 2 years i think with a bit of a part-time work here and there. Except if i get them in new drachmas, that would be terrible.

Would you consider me austere if I chose to save a few bucks every month, instead of spending every single penny I earned and also maxing out my credit card every month?

You're in Thailand dude, you are free to do as you like.

What´s more terrible: not getting paid in euros (and also paying for the lawyer) or getting paid in devalued drachmas?

I've already paid for the legal costs, i just haven't figured out how the conversion will play out if we go to drachmas coz i'm in to this case for almost 2 years now, guess i need to ask the lawyer about this. Maybe there is a chance that i will be paid in euros?

To be totally honest with you i don't expect or count on these money anytime soon and i try to plan without them, but if i get'em it would be a good extra even in drachmas and maybe i won't have to take some shitty mainstream commercial projects that i take from time to time just for the cash.

Of course, I wish you luck and to get paid in euros soon!

But if we went back to national currencies, I´d also be happy. Half of Europe´s economy is just vanishing, along with sovereignty. Pretty scary what will happen afterwards.

Thnx for wishes.
I'm a pro-drachma guy, bar the easier loans for both country and people, i can't think something to be thankful to the euro for, even the easier loans is not something to be thankful about, that's how they bait you, most of the products doubled and some even tripled the next day we got into the euro, whole industrial sector has vanished because of the euro, Greek products are 4 and 5 times more expensive than the German ones, something fucked up with this euro thingy, i consider it a curse. Agree that things look pretty scary for the future.

Last Edited by insertfunnyusername on 11/28/2012 05:51 PM

Btw, the most likely conversion would be 1:1 initially. Then the drachma, lira, peseta, etc. would rapidly depreciate.

The devaluation, however, would make it easier to create jobs.

Devaluation alone won´t solve the problem. Would just give some respite. But the current combination of structural problems and hard currency is lethal.

Germans are not happy at all either.

They talk about democracy in Europe. But I haven´t been able to find anyone who´s happy about what´s going on, who wants the euro. And there are no parties offering an alternative.

The Economy Is Going To Implode - Pt. 4 of 8
[link to www.youtube.com]

She talks about Europe here, around 14:40.

It´s an interesting presentation of what´s happening in the West.

I know Germans are not happy with it too. I found people that are happy with it tbh coz they've made more money with it, corporations and banksters are for sure the only winners of this social-economic experiment.



I heard that ours will be about 50-60% of the euro value, will see i guess, i expect the next 3-5 years to be very tense from a social perspective here and agree that the current combination is lethal, we should have defaulted hard in 2009. If WW begins in the ME though i honestly have no idea what exactly will happen and how many years it will take to recover, it's a game-changer event.