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Post by Rockhopper on Tue Jun 02, 2015 12:21 am

The onset of warmer weather in Athens is usually accompanied by locals flooding the streets of their capital, shopping, eating and drinking out. This year, the shopfronts are empty. As insecurity surrounding Greece’s debt crisis grows, more and more small businesses are folding.

Since Syriza’s arrival in power, with its radical approach to debt negotiations, doubts have increased as to whether Athens can clinch a deal at all.

The government has remained optimistic about its ability to reach a deal with its creditors by 31 May, but with each confident statement in recent days has come a careful qualification from the European side. On Friday, Economy Minister George Stathakis said that Greece would pay back the €304m (£219m) due to the International Monetary Fund on 5 June, as Christine Lagarde, head of the IMF, maintained that a Greek exit from the euro was still a possibility.

Source.

Tim.
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Post by Lenzabi on Tue Jun 02, 2015 1:46 am

It will be interesting to see if Greece pulls out of it's woes with the new government.

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Post by Rockhopper on Tue Jun 02, 2015 4:06 am

What is more interesting is -- will Europe let them?

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Post by Lenzabi on Tue Jun 02, 2015 6:49 am

@Rockhopper wrote:What is more interesting is -- will Europe let them?

Tim.


Tricky one isn't it? either allow the new government to implement it's reforms, or crush them and make them further enslaved to the banksters?

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Post by Rockhopper on Tue Jun 02, 2015 4:04 pm

This whole situation is crazy Len. The Germans are demanding payment of a debt that Greece simply can't pay. It's reaching the point of "Odious Debt".

Yanis Varoufakis their Finance spokesman has his own blog where he explains the situation from Greece's point-of-view.

Going to be an interesting time for all.

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Post by Stargate on Wed Jun 03, 2015 11:19 am

@Rockhopper wrote:What is more interesting is -- will Europe let them?

Tim.

I think thats is the big question. My take is that it's very dangerous to let them go because the world economy has not really recovered. I don't think Europe knows what will happen. I think Greece might change course and grip to a straw like a drowning man. Maybe Russia will use the opportunity to plant a tic in NATO's plans. Just thinking out loud. Smile

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