Greek Default 2015 Poll

[BlueKelah]

It's the time of the year again for valuebuddies to speculate on big world events.

Greece has now delayed payment to IMF till 30 June 2015 deadline which should be the default or no default date.

Last year those who voted no default got it right. This year things may be the same or may be not?

Feel free to vote again this year and then sit back and watch the fireworks!

Addit : Last day to vote should be 29 Jun if the forum voting time limit works properly.

[greengiraffe]

no need to vote... sure gone just a matter of time...

fireworks... no worries since whole world has been preparing for it for ages... will be good for everyone as will be another rebuilding process and no more drag for Euroland...

[GFG]

no need to vote... sure gone just a matter of time...

fireworks... no worries since whole world has been preparing for it for ages... will be good for everyone as will be another rebuilding process and no more drag for Euroland...

Yes default will be good in the long run.
In the short run, default will mean very tough lives for the greeks.

But the poll question is: will they default this year?
I don't think so, simply because many polls have indicated that the 75% of the greek public do NOT want to be out of the euro. They rather Syriza give up the so called red lines when it comes to the ultimate crunch time.
The Syriza leaders are a bunch of jokers, just pandering to the public opinion. They are not strong leaders, not doing what is right but rather what is popular.
So my guess is no default eventually.

Not outright frank default at least.
If you take into consideration all the debt extensions and concessions given etc, Greece has ALREADY defaulted long ago actually.

[BlueKelah]

thanks for voting GFG

Dunno what is going on over there in Europe but it seems greece is still playing poker.

they already used the euro contagion to secure bailout last time, with even a "haircut" to the debt.. This time it seems Euro is more stable and ready for a grexit.

then they threaten to get help from Mr. Putin, which euro may not care anymore now that there is renewed tension in Ukraine again. Could backfire on Greece if they are seen as a Putin supporter.

it seems the current gov was voted in for promise of no future austerity from the bailout deals. so not sure if they want to be voted out at the next election by accepting Euro terms.

Think the recent bond rout this week was triggered by the fear of a greek default. See how it goes next week.

[BlueKelah]

Greek PM try to threaten their creditors again...
================================================================================================================
Greek exit would trigger eurozone collapse, says Alexis Tsipras

Alexis Tsipras has warned that the failure to agree a rescue deal for Greece would spell the end of the eurozone as he submitted a revised package of reforms to negotiators in Brussels.

The Greek prime minister said if Greece failed, Europe’s leaders would have a bigger disaster on their hands because “it will be the beginning of the end of the eurozone”.

As talks with creditors in Brussels continued over Greece’s proposed reforms in exchange for bailout funds, Tsipras was forced to make a fresh appeal in Athens for his own Syriza party to back him.

His warning on the fate of the eurozone came after what appeared to be a coordinated move by world leaders at the G7 summit to caution Athens against resisting demands by its troika of creditors – the European commission, the International Monetary Fund and the European Central Bank – for further austerity and far-reaching reforms.....

[sgd]

I voted yes.

Look at it in a different light if I owe someone $1million I have a problem but if I owe same person $1 billion the problem is his if he cannot collect.

Greece owes around 240 billion but ECB already lend 320billion

greece delay payment means by right already defaulted. They playing poker and ECB is allowing them to to delay doesn't it means they LL cannot do anythig so isn't it right it's ECB problem? LOL!

I think I said this before, such lending is very dangerous, it sounds good when you say you lend to a king, monarch, leader or a country can boast they owe you big money sounds like you doing very big business but when they don't pay what you can do? whack them? sue them?

So the only way out for ECB is to relent and renego better terms or risk losing all their money then if that happens how explain to their tax payers voters later?

But once they give in they could face it again later greece new government come in will start crying why the reason they cannot pay and start all over again.

bad deal - never never ever lend money to monarch kings leaders countries.

[BlueKelah]

sgd thanks for putting in your vote This year can see the voting panel by clicking "Show Results"

this time delay is to pay the IMF. seems like ECB is another creditor that provide them the bail out funds which they have to pay also at a later stage. Now they are trying to get ECB to give them more money to pay IMF..
For IMF they are the american party and they don't care so much about greek policies, so long greek pays on time. In fact if greek dun pay this month, IMF policy allows them another 30days grace period before a real technical default happens.

[Image: greek-debt.svg]
Source of pic : Greek debts: what does it owe? When will the money run out?

From the chart, it seems the greek gov has its own T-Bills of 1.6b to pay on 19 june. Not sure how they gonna pay that beside printing more money?

Greece is basically bankrupt and should be considered in default already. It just seems like they won't admit it, and the Euro nations also dun want to admit it.

[sgd]

Greece without is a doubt a bad borrower but the lenders are also loan sharks.

if greece comply and stay in eu what more benefit they can have? whatever further loan they can get will in the end get squeeze back with even more conditions and austerity and this pain will never end or go away. it's a shell game and the people know it their country also in ruin already all the beautiful national assets gone very little is left. I heard onasis skorpios island was sold to a russian oligach.

[specuvestor]

Greece cannot print Euro. That's the price of joining Eurozone

They can print Drachmas if they leave Eurozone but question is whether creditors will want their Drachmas. Not even sure if locals would want it. Else if the economy dollarises or "eurorises" it's back to square one. It'll be extremely interesting if China supports it to be "Yuanises"

[desmondxyz]

sgd thanks for putting in your vote This year can see the voting panel by clicking "Show Results"

this time delay is to pay the IMF. seems like ECB is another creditor that provide them the bail out funds which they have to pay also at a later stage. Now they are trying to get ECB to give them more money to pay IMF..
For IMF they are the american party and they don't care so much about greek policies, so long greek pays on time. In fact if greek dun pay this month, IMF policy allows them another 30days grace period before a real technical default happens.

[Image: greek-debt.svg]
Source of pic : Greek debts: what does it owe? When will the money run out?

From the chart, it seems the greek gov has its own T-Bills of 1.6b to pay on 19 june. Not sure how they gonna pay that beside printing more money?

Greece is basically bankrupt and should be considered in default already. It just seems like they won't admit it, and the Euro nations also dun want to admit it.

This is beyond salvage....maybe it's time for another haircut?