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Opinons about Greece?

Discussion in 'BlackHat Lounge' started by dgusic, Jun 29, 2015.

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  1. dgusic

    dgusic Regular Member

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    This is not a political thread, strictly economics.

    Do you believe they will leave European Union? I mean if they do, in that case, bye bye ? and bye bye Eurozone. Great fucking idea EU, go with the same currency without the fiscal union.

    Also, tomorrow could be THE time to buy ???? and be rich.
     
  2. Gyuman82

    Gyuman82 Elite Member

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    They should leave. They could've probably avoided a lot of their problems by printing more currency (like the US does) and managing the resulting inflation over time.

    Right now they are stuck between a rock and a hard place by being part of the Union.
     
  3. DarkPixel

    DarkPixel Jr. VIP Jr. VIP

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    Hello from Greece.

    I have no clue what will happen, but the fact is that today I wanted to withdraw 20 euros from an ATM to get something to eat, and couldn't because the ATM waiting line had at least 30 people.

    Didn't eat :(
     
  4. nakamura

    nakamura Senior Member

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    They should and have to leave! If they stay, it will not end well in the future.
    Greece made some big mistakes in the past and now they have to feel the consequences (unfortunately).

    For me, as a german, its pretty annoying. Reading about that all day since weeks, the tv-news is full of it...
     
  5. vnmurray

    vnmurray Newbie

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    They shut all of the banks down today so I wonder how long they will last before people start rioting. I mean, they are already raiding stores and stalking up on food. Changing currency wont be easy and Greeces economy will have to fall to an all time low before they get back up again.
     
  6. dgusic

    dgusic Regular Member

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    Looking from an economics point of view, it seems pretty interesting.

    If they leave, that will cause them to return back to the drachma, and that will not end well.

    In a short term, they should expect massive inflation of over >50%. It will be almost impossible to maintain any normal inflation of 2-3% because of all the costs. One of the biggest costs will be reprogramming back all the systems to drachms which could cost million od dollars, but on the other hand... in a long term everything should get back to normal.

    Oh and yes, I read that apartments in Greece are now super cheap, like €10k :D.
     
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  7. dgusic

    dgusic Regular Member

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    Why don't you keep ANY cash? Banks are capitalist pigs and when you actually want to withdraw YOUR money you can not.
     
  8. THUNDERELVI

    THUNDERELVI Elite Member

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    And banks are closed for a week until 5th of July, not to mention you cannot withdraw more than 60 euros or something from the ATM.
    The situation there at the moment totally sucks. I hope they don't get out of EU lol, otherwise my 2nd citizenship will then be worthless :p
     
  9. welly_59

    welly_59 Power Member

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    im not a fan of the EU project at all, and cant wait until they finally hold a referendum on membership in the UK.

    most of the money that greece now pays back to its creditors is interest payments. theres no way that greece will ever be able to repay all its debts without crippling the country for generations to come. Best thing for the greek people, in the long term, is for their givernment to tell its creditors that it aint getting their money.

    start with a clean slate, much like argentina did 15 or so years ago
     
  10. elfgirl

    elfgirl Jr. VIP Jr. VIP

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    That is some crazy bs. I am sorry you have to deal with that. I hope you have some food at the house
     
  11. bilbo

    bilbo Power Member

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    and bye bye dollar :)

    it could also be time to buy euros and become bankrupt. The truth is nobody knows. If Greece takes a while to pull out and can drag the process along then consumer confidence ( and thats all it come down to ), will not be affected long term and we will live to see another day. If @ the end of tuesday the euro block kicks them out then I can see the whole of the globe playing snakes and ladders and we all end up going down that snake to 2008 again :)
     
  12. DarkPixel

    DarkPixel Jr. VIP Jr. VIP

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    Didn't think I wouldn't find a free ATM. No worries, I keep cash, just didn't enough with me today. Won't happen again!

    Yeah, had some good food home. All good now.
     
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  13. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    I was in Greece a week ago, on a vacation. Having a great time on the beach I was approached by German TV station ZDF to give my opinion about the crisis and so on...So, I answered few questions and got a mention on ZDF. Forgot to tell them to link back to my site :)
     
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  14. eXampL

    eXampL Power Member

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    That sucks! I wonder how many turists are still willing to visit Greece this summer in those circumstances. I know I wouldn't
     
  15. conper

    conper Registered Member

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    If the citizens vote NO then bye bye Europe and they will go back to Drahmi currency. Cizitens will have big problem since their loans will stay in Europe currency and that means the worth of loan will be like 3-5 more that what they owe now. People wont have money to eat since exports and imports will be very difficult. And many many others big problems will occur e ......
     
  16. DarkPixel

    DarkPixel Jr. VIP Jr. VIP

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    Well the thing is that currently there is a daily ATM withdrawal limit of 60 euros for greek credit/debit cards as of yesterday (normal is 600 euros). But non-greek cards like the ones tourists have and use won't have any issues and limits, they should work normally. The only issue would be standing in line and waitingfor their turn in the line.

    But yeah, this summer's probably not ideal for tourists to visit Greece.
     
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  17. norkodeo

    norkodeo Jr. VIP Jr. VIP

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  18. eXampL

    eXampL Power Member

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    Thanks for the heads-up! I guess I'll have to cancel my booking and find something else for this year which sucks because I really like spending a part of the summer in Greece
     
  19. dgusic

    dgusic Regular Member

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  20. iPinner

    iPinner Senior Member Premium Member

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    I was following Greece topic lately though i am not local. I would agree with the guy above, you should move your savings to non local banks or withdraw them all in my opinion. Who knows what will happen soon
     
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