Post by sevenofnine on Jul 5, 2015 16:40:03 GMT -5
Euros early morning stocks are getting jack up at time I post current post
Europe thrown into crisis as Greece nears euro exit after shock referendum result
The European Union is facing its worst crisis since the formation of the euro after Greece voted decisively against the terms of a eurozone bailout deal
The European Union is facing its worst crisis since the formation of the euro after Greece voted decisively against accepting the terms of its eurozone bail-out deal.
Early results suggested that around 61 per cent of Greeks had voted to reject the deal, compared to just 39 per cent in favour, despite opinion polls saying right until the eve of polling that the result was too close to call.
• Time to face reality: Greece needs mass debt relief now • Referendum gallery
The scale of the No vote took European leaders by surprise, and led to panic in the financial markets. German Chancellor Angela Merkel spoke to Alexis Tsipras, the Greek prime minister, and is due to meet the French President, Francois Hollande.
EU leaders have said that a “No” vote would see Greece crash out of the eurozone, dealing a sharp blow to Brussels' blueprints for closer European political and financial integration.
Post by sevenofnine on Jul 6, 2015 15:42:12 GMT -5
Yeah only few hours maybe least 5
Greek Prime Minister Alexis Tsipras was given hours to come up with a plan to keep his country in the euro and stave off economic disaster as citizens suffer under a second week of capital controls.
German Chancellor Angela Merkel said “time is running out,” as she and French President Francois Hollande responded to Sunday’s referendum. Euro-region finance ministers gather for an emergency meeting on Tuesday, and their position “will depend on Greek proposals,” Hollande said.
Tsipras is running out of chances to reach a deal with creditors, who have insisted on tax hikes and spending cuts as the price for a new bailout of Europe’s most indebted nation. Greece’s economy is grinding to a halt, with bank closures extended through Wednesday to stem deposit withdrawals
The result of the referendum in Greece is a great victory for freedom, but it is also threatens to unleash unprecedented economic chaos all across Europe. With almost all of the votes counted, it is being reported that approximately 61 percent of Greeks have voted “no” and only about 39 percent of Greeks have voted “yes”. This is a much larger margin of victory for the “no” side than almost everyone was anticipating, and it represents a stunning rejection of European austerity. Massive celebrations have erupted on the streets of Athens and other major Greek cities, but the euphoria may not last long. Greek Prime Minister Alexis Tsipras is promising that Greece will be able to stay in the euro, but that gives EU bureaucrats and the IMF a tremendous amount of power, because at this point the Greek government is flat broke. Without more money from the EU and the IMF, the Greek government will not be able to pay its bills and virtually all Greek banks will inevitably collapse. Meanwhile, the rest of Europe is about to experience a tremendous amount of pain as financial markets respond to the results of this referendum. The euro is already plummeting, and most analysts expect European bond yields to soar and European stocks to drop substantially when trading opens on Monday morning.
Personally, I love the fact that the Greek people decided not to buckle under the pressure being imposed on them by the EU and the IMF. But amidst all of the celebration, the cold, hard reality of the matter is that your options are extremely limited when you are out of money.
How is the Greek government going to pay its bills without any money?
How are the insolvent Greek banks going to operate without any money?
How is the Greek economy going to function without any money?
Now that the Greek people have overwhelmingly rejected the demands of the creditors, it will be very interesting to see what the EU and the IMF do. Prior to the referendum, European leaders were insisting that a “no” vote would put an end to negotiations and would force Greece to leave the euro.
At the name of Jesus every knee will bow, of those who are in heaven and on earth and under the earth, and that every tongue will confess that Jesus Christ is Lord, to the glory of God the Father. Philippians 2:10-11
“You were given the choice between war and dishonor. You chose dishonor and you will have war.” -Sir Winston Churchill
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musicman: Thank you for the welcome message. When I read that verse it made me think of the verse "Perservere for His Names sake..." I have always been inspired by that Verse.
Feb 25, 2019 14:05:45 GMT -5