Debt crisis: Greece closes banks; Sensex, global markets crash

[northeast]

next in line are china and india.



time for greek socialists to take over and establish a mostly self-sufficient socialist country.

Greeks are not that materials，they are more like a bunch of clowns.

 

[anant_s]

And the EU

Do you have any official data for Chinese exposure to Euro Debts.
We can see some knee jerk reaction in coming days.

 

[Beidou2020]

Do you have any official data for Chinese exposure to Euro Debts.
We can see some knee jerk reaction in coming days.

Nah

 

[anant_s]

 

[jamahir]

Well here is the actual situation.
View attachment 233639

so any country attached deeply to usa's economics will be affected... india ( through its software/services industry ) and china ( through its manufacturing base ) will be.

india's "reserve bank of india" governor said something alarming ( to capitalists ) too, ( Explained: Why Raghuram Rajan compared the global economy to Great Depression ).

effects on national economies is not so much a result of within-computer stock calculations but real world situations... for example, why did "kingfisher airlines" of india collapse... no mba-type can explain this as simply as a socialist can.

Greeks are not that materials，they are more like a bunch of clowns.

various actions have happened in the last few years...

from ( Gunmen set fire to Microsoft office in Athens - BBC News )...

Armed men have rammed a van full of gas canisters into a Microsoft office in the Greek capital Athens, setting it alight, but nobody was hurt.

They threatened security guards with guns during the attack on the office in the Athens suburb of Maroussi at around 04:35 (01:45 GMT), police said.

The van was destroyed and the floor of the building badly damaged.

No group said it had carried out the attack. Arson attacks have become more frequent during the economic crisis.

They are usually blamed on left-wing extremists but police said it was too early to draw any conclusions.

from ( http://www.balkaneu.com/return-left-wing-terrorism-reality-greece/ )...

Greek terrorists “Popular Fighters Group” assumed responsibility Tuesday of the attack on the residence of the German ambassador in Athens.

In a manifesto sent to an Athens weekly newspaper, the terrorists said the shooting attack December 30th was an attack in response to the crisis German – sponsored austerity has brought about.

The group also claimed to have fired a rocket at the headquarters of Mercedes-Benz on the outskirts of the Greek capital on the night of Jan. 12, as part of a “campaign against the German capitalist machine.”

 

[anant_s]

so any country attached deeply to usa's economics will be affected... india ( through its software/services industry ) and china ( through its manufacturing base ) will be.

Yes Sir. I can't comment on Chinese part, but as far as our Services sector is concerned, European and US markets are the biggest contributors. Any recession there will severely impact the industry.
But apart from trade part, exposure to Bonds (issued by an economy) also pose significant risk. I don't have data for this, but we can treat it something akin to bad loans.

india's "reserve bank of india" governor said something alarming ( to capitalists ) too, ( Explained: Why Raghuram Rajan compared the global economy to Great Depression ).

In any kind of economic system, fiscal discipline is important. Reckless spending be it on populist schemes, defence sector or anything that doesnot contribute to growth or fosters incompetency is going to hurt one day or the other.
I recall one essay (don't recall author) where it was argued that in today's economic system, nations are trying to manufacture growth by resorting to methods such as currency devaluation etc. This unfortunately cannot go on for ever and here lies the danger of an extended recession as Rajan points out.

 

[jamahir]

can't comment on Chinese part, but as far as our Services sector is concerned, European and US markets are the biggest contributors. Any recession there will severely impact the industry.

it already did.

early 2014...

Job Cuts And Weeping Workers At IBM India - Forbes

late 2014...

Yahoo India SDC Employee Firing Saga: The Real Numbers…

TCS Firing Big Time. Upto 30,000 Employees May Face Axe

 

[thesolar65]

So, after one month, if one goes to Thailand......errr on specific purpose he can ***** Greek ****** apart from Russians, Kazakistans.....etc etc...

@jamahir

 

[ito]

Can anyone explain this on going Greece/EU drama?? Who's at fault here? I don't get it..

It all started with Lehman Brothers collapse in 2008. The credit crisis affected major economies across the world

In 2009, Greece announced that it has been understating its national debt by considerable margins. This created panic among EU nations

IMF, EU and European Central Bank agreed to bail out Greece by injecting around $ 300 billion into Greece economy in a phrased manner, but in exchange for deep budget cuts and huge taxes otherwise called austerity measures. (Some of which Greece was reluctant to adopt).

Unfortunately, the liquidity injection could not revive Greece's economy, but the money provided by IMF, EU and European Central Bank went to pay back interest to Greece's lenders making Greece worse off.

The lending terms were extended lots of time but Greece failed to revive its economy. So IMF, EU and European Central Bank stopped providing new funds. So that is the situation as of now.

The question now is whether to ask Greece to leave EU there by keeping the fire from spreading to other EU nations or extend loan terms thereby risking loan default or inject new funds into Greece's economy and buy more time.

 

[jamahir]

So, after one month, if one goes to Thailand......errr on specific purpose he can ***** Greek ****** apart from Russians, Kazakistans.....etc etc...

@jamahir

but i suppose there are tourism areas in greece itself and spain and italy where come britishers and french and germans etc, so not too far from home.

 

[anant_s]

I hope Greek Olive oil and Feta cheese becomes a little cheap. These are exhorbitantly costly here in india.

 

[BHAN85]

Can anyone explain this on going Greece/EU drama?? Who's at fault here? I don't get it..

They're fighting between them for colored papers with ECB logo.
They are brainwashed with that those papers have a great value and they think that those colored papers are richness.

If I were Tsipras, I would order print a trillion of 500 EUR banknotes and free flights from Greece to Eurozone.
That way maybe they will start to understand what is fiat money.



ECB prints money every month with its QE, Tsipras should do the same thing .

 

[anant_s]

ECB prints money every month with its QE, Tsipras should do the same thing

Well put!
Actually that is exactly what Tsipras might end up doing in an year from now.
Any views on how this event is going to hit Shipping industry in Europe.

 

[BHAN85]

Well put!
Actually that is exactly what Tsipras might end up doing in an year from now.
Any views on how this event is going to hit Shipping industry in Europe.

The question is...
Could ECB made a QE with oil-barrel in 100 USD? I think no.

ECB can print money now without generate inflation because low oil barrel prices.

If oil-exporters countries want to increase oil barrel prices they should print a trillion of fake 500 EUR banknotes and give it to greeks with free air-flights from greece to eurozone to spend that fake money (as fake money is the official money that ECB prints with its QE).
That it will increase oil barrel prices.

Yeah, I know it, it's a crazy idea.

But a really insane, crazy and evil idea is make a war and kill innocent people to increase oil barrel prices.
And that is what planning to do right now some brainless and evil goverments, like Russian gov and Iran gov. [HASHTAG]#IranTalks[/HASHTAG]

 

[[Bregs]]

If interest rates went up in Europe because of this Greece crisis then there will be capital outflow from India