Latest Breaking News

snappyturtle

(14,656 posts)

34. Did you mean to say 'Iceland' instead of 'Island' ?

Thu Feb 5, 2015, 05:17 PM

Feb 2015

I assume so. I think the gov't corruption along with the help of Goldman Sachs. et.al. and the swap derivatives to hide gov't debt has resulted in the banking crisis. I may agree that the banks were not the originating party to this corruption but at some point they had to 'wonder' (if not know) the source of the origination....I don't think they blew the whistle either, however, I could easily be wrong on that.

Welcome to DU !

Click here to purchase valentine hearts!

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

106 replies

= new reply since forum marked as read

Highlight:

No more orders or austerity from Europe, Greek PM says [View all] Bosonic Feb 2015 OP

So... they'd better get started printing Drachmas then? bigworld Feb 2015 #1

Apparently that have the printing presses and could actually start printing Euros. n/t PoliticAverse Feb 2015 #3

Yeah, it's EU's fault, not their own corruption or the fact that the rich don't pay taxes uhnope Feb 2015 #25

Their problems could easily be solved with... Taitertots Feb 2015 #53

"easily"? Really? Well then Syriza will have it done in no time uhnope Feb 2015 #92

You don't know what "expansionary monetary and fiscal policy" means do you? Taitertots Feb 2015 #95

I'm ignoring it as much as you are ignoring tax avoidance and corruption in Greece uhnope Feb 2015 #96

I'll address your post as three issues. Taitertots Feb 2015 #97

Re. corruption and taxes insignificant... Ghost Dog Feb 2015 #102

Are you going to provide an estimate or just complain that you don't like other people's estimate? Taitertots Feb 2015 #103

No indeed, economic renewal will require much more than that Ghost Dog Feb 2015 #104

Why Greek socialists do not have the complete support of all DU'ers is...informative. Fred Sanders Feb 2015 #2

Seems that way to me too, Fred Sanders. elleng Feb 2015 #9

Right on. Ed Suspicious Feb 2015 #12

I can only speak for myself, but I'm watching exactly how they solve their problem. FLPanhandle Feb 2015 #14

Their Finance Minister has an economics PhD. And has laid out the plan in written detail, not just Fred Sanders Feb 2015 #16

And he's sexy as hell too. azmom Feb 2015 #27

Really? Professor Yannis Varoufakis Fred Sanders Feb 2015 #29

I'd ease his debt burden anytime. azmom Feb 2015 #31

hot glinda Feb 2015 #47

Nothing against the guy, but all I see is the love child of this guy: freshwest Feb 2015 #49

Yuck...I can't "unsee" these. BTW, he is a hunk and he's also smart as heck...listened to him talk libdem4life Feb 2015 #67

I see you joined up just before the 2012 elections. Yeah, we railed against them. freshwest Feb 2015 #83

Thanks for reminding me...I lurked for a long time. But I have watched him twice and he's libdem4life Feb 2015 #85

Here's another one...Post #45 libdem4life Feb 2015 #89

seriously? I see this guy, but with a brain as well as guts magical thyme Feb 2015 #87

Sorry, but the first thing I thought was this NickB79 Feb 2015 #98

That, sir, is a proud Greek nose inherited from the God's themselves... Fred Sanders Feb 2015 #99

It's all about Yanis right now. azmom Feb 2015 #105

Well.... jeff47 Feb 2015 #17

I thought they only projected to have their budget balanced this year FLPanhandle Feb 2015 #55

Primary surplus means they're in the black except for interest jeff47 Feb 2015 #56

Greece is far from blameless FLPanhandle Feb 2015 #93

You've got the timing wrong. jeff47 Feb 2015 #94

He has the timeline wrong. Fred Sanders Feb 2015 #100

2.3% of their GDP is direct payments from the EU hack89 Feb 2015 #57

Only if they keep paying interest. jeff47 Feb 2015 #66

They can certainly do that - it would be a stupid thing to do hack89 Feb 2015 #68

Yeah, look at how it destroyed Iceland. jeff47 Feb 2015 #69

You do understand that Iceland did not default on any sovereign debt? hack89 Feb 2015 #71

Do you understand that the problems you claim will happen jeff47 Feb 2015 #73

But the debt still belongs to the Greek government hack89 Feb 2015 #74

The problems you cite about leaving the EU jeff47 Feb 2015 #75

Do you understand the Greeks are not happy about running those surpluses? hack89 Feb 2015 #76

Actually, no. The surpluses do not disappear jeff47 Feb 2015 #80

Is the Greek government committed to continuing austerity measures hack89 Feb 2015 #82

The Greek government conspired with Goldman Sachs to hide their debt from the EU hack89 Feb 2015 #78

Iceland borrowed $4.5 billion from the IMF after their banks collapsed hack89 Feb 2015 #81

Nope. Iceland did not launch an austerity campaign. jeff47 Feb 2015 #84

Time will tell hack89 Feb 2015 #86

And that's what really needed to happen from the start. jeff47 Feb 2015 #88

But the Greeks still cannot afford to go back to their previous levels of spending hack89 Feb 2015 #90

And they aren't trying to. jeff47 Feb 2015 #91

They are now running a primary budget surplus muriel_volestrangler Feb 2015 #19

Sounds good and bad. If the percentage of GDP is that low, they'll work it out. freshwest Feb 2015 #79

exactly +1 uhnope Feb 2015 #40

Agree....100% Manifest Destiny Feb 2015 #26

not necessarily. The fact is, Greece is screwed up due to its own corruption & tax failures uhnope Feb 2015 #28

Ahem MFrohike Feb 2015 #39

+1000 nt GliderGuider Feb 2015 #77

Damn right. katsy Feb 2015 #32

DU arikara Feb 2015 #42

100% correct. Manifest Destiny Feb 2015 #51

I wish they would arikara Feb 2015 #101

"If you are not getting behind Greece you are not getting behind liberalism"? Bullshit. Nihil Feb 2015 #61

Glad you could clear that up. Fred Sanders Feb 2015 #62

Tsipras knows...... DeSwiss Feb 2015 #4

I think I'm in love...... fasttense Feb 2015 #5

+1 blkmusclmachine Feb 2015 #35

It's disaster capitalism. potone Feb 2015 #38

the start of civilization glinda Feb 2015 #48

+100000 Good to see corruption and thievery being called what it is. woo me with science Feb 2015 #60

Yanis Varaoufakis is a brave man azmom Feb 2015 #65

+1000000 woo me with science Feb 2015 #59

Make them pay back WWII reparations, too. K&R closeupready Feb 2015 #6

He really makes sense. And is the plainest talker in Europe I've heard in a long time. freshwest Feb 2015 #7

I hope.... snappyturtle Feb 2015 #13

what would you want in place of the fed reserve sabbat hunter Feb 2015 #64

Maybe the US could start buying the place with beads. candelista Feb 2015 #8

You forgot the sarcasm emoticon. Fred Sanders Feb 2015 #10

This is going to get very interesting and we should pay attention. snappyturtle Feb 2015 #11

Great links: Manifest Destiny Feb 2015 #30

I used Zero Hedge recently and was told it's just a bunch of hackers! snappyturtle Feb 2015 #33

This has been an interesting blog too arikara Feb 2015 #44

As I understand it, a slow run on the banks has been going on for some time. rogerashton Feb 2015 #52

K & R !!! WillyT Feb 2015 #15

I wonder if the vulture capitalist bastards are circling Greece now like they did Argentina earlier. cascadiance Feb 2015 #18

They absolutely are circling Greece. potone Feb 2015 #50

Different situation. Most of Greek debt is owned by other governments hack89 Feb 2015 #72

Greece democracy vs other EU democracies TooPragmatic Feb 2015 #20

This is good, but this isn't exactly what Iceland did, and as far as I can tell AtheistCrusader Feb 2015 #21

Iceland had the difference of using its own currency bigworld Feb 2015 #22

Unless they leave the Euro, then I don't think Iceland is a good comparison fbc Feb 2015 #23

Greece isn't Island TooPragmatic Feb 2015 #24

Did you mean to say 'Iceland' instead of 'Island' ? snappyturtle Feb 2015 #34

Thanks for correcting me TooPragmatic Feb 2015 #36

Oh, I understand that autocorrect stuff. Hate it. snappyturtle Feb 2015 #37

"Island" is actually how Icelanders spell the name of their country Art_from_Ark Feb 2015 #46

Shrug MFrohike Feb 2015 #41

Greece has it's own voice... and it can use that voice to beg for money. n/t hughee99 Feb 2015 #43

I don't think ''begging'' is what they have in mind..... DeSwiss Feb 2015 #45

+1. nt. polly7 Feb 2015 #54

+1000000 woo me with science Feb 2015 #58

He and Warren have a lot in common. A lot. Including charisma and speaking talent. Fred Sanders Feb 2015 #106

Guess this means they will now be begging the Russians for money? Blue_Tires Feb 2015 #63

Greece is trying out the waters for the rest of Southern Europe...the "poor countries". To see libdem4life Feb 2015 #70