Posted on: 10-07-15 13:44:40
I know, it is not what you want to see in continuation....
BANKRUPTCY. : With his hat in hand, or is it the begging bowl?
The latest offer includes defence spending cuts, a timetable for privatizing state assets such as Piraeus port and regional airports, hikes in value added tax for hotels and restaurants and slashing a top-up payment for poorer pensioners.
“The ‘No’ in the referendum appears to be turning into a ‘Yes’ from Tsipras,” Commerzbank analyst Markus Koch said.
Greek banks have been closed since June 29, when capital controls were imposed and cash withdrawals rationed after the collapse of previous bailout talks. Greece defaulted on an IMF loan repayment the following day and now faces a critical July 20 bond redemption to the ECB of 3.49 billion euros, which it cannot make without aid.
The country has had two bailouts worth 240 billion euros from the eurozone and the IMF since 2010, but its economy has shrunk by a quarter, unemployment is at more than 25 percent and one in two young people is out of work.
“The prime minister seems to have made the right choice between his party and the interest of Greece,” an editorial in the center-right daily Kathimerini said.
“His decision to accept a tough package of measures will ensure the country stays in the euro. This is not the time for gripes and assessing the damage, what’s most important is securing the country’s interests and its place in the eurozone.”
Germany made a small concession on Thursday by acknowledging that Greece will need some debt restructuring as part of the new program to make its public finances viable in the medium-term.
SO, what is all this NO about. Well that is politics, diplomacy and BRINKMANSHIP. Now they want more concessions and write offs for their old accumulated defaults on the loans and bond redemption.
Hope the Greeks get to stay in the European Union.
FH.
More OUZO and YAMAS (Tsum vohl)
Will be thankful if anyone can enlighten why it happened, what happened/happens in Greece and not in some other poor country (supposedly) like India. What we must do to avoid the pit/crevice falls.
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While scrolling the link on the thread "Awesome Reading", came across this piece on the Greek crisis.
http://www.ozy.com/flashback/germany-ravaged-the-greek-drachma/40236?utm_source=Outbrain&utm_medium=CPC&utm_campaign=INTL%20-%20All%20Clicks%20ALL%20Devices
Reasons cited in the article says over borrowing, overspending, corruption and tax evasion. Why is that countries like Greece and India, which claim to have taught civilization to the world are unable to manage their own affairs.
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Because the current system of capitalism isn't good enough to care for everyone
Before the arrival of the English, people of India must have had a peaceful life. All they needed was a good monsoon. With a population probably less than 20 crores, they must have had plenty to eat, trees, green vegetation and clean water and air everywhere. Then they have set beautiful verses in their own language in praise of their 1000s of Gods. There was also no restriction for travel for pilgrimage from Kashmir to Kanyakumari, trespassing 100s of kingdoms. In short theirs must have been quality life.
All this have changed. Vowing to make Sardar Patel's India one and a super power, the pseudo-secular and pseudo-nationalist parties' representatives are looting the nation. The people who sent them to Delhi have become their own victims or they are least benefited.
Yesterday happened to read an interesting article on "Development".
http://www.thehindu.com/opinion/op-ed/seccs-report-on-poverty-in-india/article7414018.ece?ref=topnavwidget&utm_source=topnavdd&utm_medium=topnavdropdownwidget&utm_campaign=topnavdropdown.
Think time is running out on our netas to make India a success. Otherwise, India may break up on the weight of their own sins.
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Without the Brit, India would've been no different from many ill-fated African nations or some South east asian states.
Some areas with notable setbacks would have been.
- Poor infrastructure.
- Poor irrigation systems (No dams, channels to help agriculture).
- Poor education.
- Horrible healthcare.
- Oppressed social customs.
The landing of service natured catholic priests and nuns was a turning point to the oppressed communities in the ancient India which otherwise followed a strict hierarchy of castes into every aspect of administration to public life.
But the modernization did bring many unwanted bi-products that we still suffer.
Well, putting these theoretical things aside, the modern banking system (under the disguise of modern day capitalism) with speculative economy and solely interest based economy could be the major factor that has been influencing the what we witness today. Well, frankly most of us are able to enjoy this materialistic life as a result of this speculative economy and the modern warfare systems, this topic doesn't need further comprehension for an individual who understands the current system.
Quote:
Originally posted by ramar2005
Before the arrival of the English, people of India must have had a peaceful life. All they needed was a good monsoon. With a population probably less than 20 crores, they must have had plenty to eat, trees, green vegetation and clean water and air everywhere. Then they have set beautiful verses in their own language in praise of their 1000s of Gods. There was also no restriction for travel for pilgrimage from Kashmir to Kanyakumari, trespassing 100s of kingdoms. In short theirs must have been quality life.
All this have changed. Vowing to make Sardar Patel's India one and a super power, the pseudo-secular and pseudo-nationalist parties' representatives are looting the nation. The people who sent them to Delhi have become their own victims or they are least benefited.
Yesterday happened to read an interesting article on "Development".
http://www.thehindu.com/opinion/op-ed/seccs-report-on-poverty-in-india/article7414018.ece?ref=topnavwidget&utm_source=topnavdd&utm_medium=topnavdropdownwidget&utm_campaign=topnavdropdown.
Think time is running out on our netas to make India a success. Otherwise, India may break up on the weight of their own sins.
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by JRF
Without the Brit, India would've been no different from many ill-fated African nations or some South east asian states.
Some areas with notable setbacks would have been.
- Poor infrastructure.
- Poor irrigation systems (No dams, channels to help agriculture).
- Poor education.
- Horrible healthcare.
- Oppressed social customs.
The landing of service natured catholic priests and nuns was a turning point to the oppressed communities in the ancient India which otherwise followed a strict hierarchy of castes into every aspect of administration to public life.
But the modernization did bring many unwanted bi-products that we still suffer.
Well, putting these theoretical things aside, the modern banking system (under the disguise of modern day capitalism) with speculative economy and solely interest based economy could be the major factor that has been influencing the what we witness today. Well, frankly most of us are able to enjoy this materialistic life as a result of this speculative economy and the modern warfare systems, this topic doesn't need further comprehension for an individual who understands the current system.
Good post. Agree.
Hiren
