Cyprus-Forum.com

[Paphitis]

Paphitis:

........which in my opinion didn't have to be so draconian if they allowed Greece to print and Quantitatively Ease.

That is why they are in so much trouble ......... Greece can’t do that as it does not have a sovereign currency or it’s own independent Central Bank, it has only the ECB. The Greeks can print a limited amount of Euro in specific value notes but nowhere near enough to solve the problem. All they can do is borrow more until they have no assets left for the Banks to seize. Then I assume they are just declared bankrupt ..... and thrown out of the Euro.

I don't think this prediction is correct.
Cuts on wages are so huge that is hard for me to believe that the average value of work produced by the average Greek is about 600 Euros per month, which is what they get paid today. It's at least 2 times as much.
From that alone the Greek working people get stolen 2 billion per month.
Not hard to imagine how long should this stealing continue for Greece to get back on it's own feet.

but even if that true, the money is more going to business. Not Greek debt.

But anyway, the Greek debt is something that will never be addressed in our life time. And Greece is literally stuck now as well and can't leave the Eurozone because it will be stuck with a Euro debt of nearly 200% of GDP.

The only way they could have really crewed the Eurozone and ECB right up, was to default. Now that would have been mayhem for a while for the bastards of the ECB.

[Robin Hood]

Paphitis:

but even if that true, the money is more going to business. Not Greek debt.

Most of Greek bailout money went to banks: study

Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector.
Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy.

http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391

The only businesses that benefitted were those buying Greek infrastructure and State assets at Yard Sale, knock down prices!

[Paphitis]

Paphitis:

but even if that true, the money is more going to business. Not Greek debt.

Most of Greek bailout money went to banks: study

Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector.
Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy.

http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391

The only businesses that benefitted were those buying Greek infrastructure and State assets at Yard Sale, knock down prices!

I think you better go back and read Pyro's post. And of course it goes to the banks. it was a banking bail Out. If you don't bail the banks out, the whole country will be in soup lines. it was just a debt transfer towards the ECB.

That isn't what he was saying.

And rack off!

[Robin Hood]

Paphitis:

but even if that true, the money is more going to business. Not Greek debt.

Most of Greek bailout money went to banks: study

Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector.
Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy.

http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391

The only businesses that benefitted were those buying Greek infrastructure and State assets at Yard Sale, knock down prices!

I think you better go back and read Pyro's post. And of course it goes to the banks. it was a banking bail Out. If you don't bail the banks out, the whole country will be in soup lines. it was just a debt transfer towards the ECB.

That isn't what he was saying.

And rack off!

My thread .....you rack off!

[Pyrpolizer]

Paphitis:

........which in my opinion didn't have to be so draconian if they allowed Greece to print and Quantitatively Ease.

That is why they are in so much trouble ......... Greece can’t do that as it does not have a sovereign currency or it’s own independent Central Bank, it has only the ECB. The Greeks can print a limited amount of Euro in specific value notes but nowhere near enough to solve the problem. All they can do is borrow more until they have no assets left for the Banks to seize. Then I assume they are just declared bankrupt ..... and thrown out of the Euro.

I don't think this prediction is correct.
Cuts on wages are so huge that is hard for me to believe that the average value of work produced by the average Greek is about 600 Euros per month, which is what they get paid today. It's at least 2 times as much.
From that alone the Greek working people get stolen 2 billion per month.
Not hard to imagine how long should this stealing continue for Greece to get back on it's own feet.

but even if that true, the money is more going to business. Not Greek debt.

But anyway, the Greek debt is something that will never be addressed in our life time. And Greece is literally stuck now as well and can't leave the Eurozone because it will be stuck with a Euro debt of nearly 200% of GDP.

The only way they could have really crewed the Eurozone and ECB right up, was to default. Now that would have been mayhem for a while for the bastards of the ECB.

To Greek Debt also. The cost of running the Government machine has dropped to nearly half. Development will come from within because the Greek business sector is really very healthy. Top quality Greek manufactured products already flood LIDL and all major supermarkets all over Europe. Defaulting would be a disaster. reverting to drachma would be equal disaster too. The Euro -despite the fact that it won't allow you to plan a fiscal policy has other ppros, it opens you the door to a 250 million market. We are going to flood the damn Europe with halloumi, teach them how to eat well and get fat, and get our money back.

[Pyrpolizer]

Paphitis:

but even if that true, the money is more going to business. Not Greek debt.

Most of Greek bailout money went to banks: study

Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector.
Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy.

http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391

The only businesses that benefitted were those buying Greek infrastructure and State assets at Yard Sale, knock down prices!

What did you expect?? That was the beginning. Imo they will recover much faster than what expected.
Just for comparison BoC owed 9 billion ELA in 2013. How much does she owe today?? ZERO!!

And BoC is just a Cypriot Bank, not a State like Greece...

[Paphitis]

Paphitis:

but even if that true, the money is more going to business. Not Greek debt.

Most of Greek bailout money went to banks: study

Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector.
Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy.

http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391

The only businesses that benefitted were those buying Greek infrastructure and State assets at Yard Sale, knock down prices!

I think you better go back and read Pyro's post. And of course it goes to the banks. it was a banking bail Out. If you don't bail the banks out, the whole country will be in soup lines. it was just a debt transfer towards the ECB.

That isn't what he was saying.

And rack off!

My thread .....you rack off!

The white singlet, white sock and sandals wearer is now using Aussie slang.

What is this world coming to?