Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Tuesday, July 07, 2015

Euclid In A Nutshell


Expect no change in Syriza's policy.

Grexit Coming

Juncker has said that the solution to the Greek crisis won't come Tuesday.

Quite so!

However, what he has failed to mention is the date that he expects the "solution" to materialise.

Whilst the naive idiots who think that Syriza's rehash of a proposal that was rejected may start the ball rolling towards a solution within the eurozone, the reality is that Syriza is preparing for Grexit and has been doing so ever since it took office.

Coming soon:

- Bank nationalisations
- Parallel currency
- Full blown Grexit

I wonder if the people who voted OXI realised that this is what they voted for?

Monday, July 06, 2015

Varoufakis Resigns

Hot on the heels of an Oxi vote of around 61% Varoufakis, the man who said he would resign if the vote was Nai, has resigned as Finance Minister.

He cites the fact that he wants to give Tsipras every chance to maximise his negotiating strength with the Troika.

Very noble, given that he called the Troika "terrorists". However, let us not also forget that he promised a deal would be done within 24 hours of the result.

How's that looking then?

Oh, irrespective of him no longer being officially Finance Minister of Greece, he will doubtless still be advising Tsipras in the background and most certainly remains an MP.

Sunday, July 05, 2015

The Elephant in The Parthenon

As the embattled people of Greece go to the polls today, there is one small point that everyone is ignoring.

What is that?

The package on which they are voting is no longer on the table; ie the vote is irrelevant.

Whatever the outcome of this vote, the powers that be will use the result for their own agenda and the Greek people will continue to suffer.

Saturday, July 04, 2015

Varoufakis Speaks

Friday, July 03, 2015

Mafia Style Democracy In Action

Greece Is Fucked

The IMF has said that Greece needs another Euro50BN bailout, and that the debt is unsustainable and will need to be restructured.


Music or not, Greek banks are down to their last Euro500M. The emergency is now, not in the months it will take to negotiate/approve (if at all) a Euro50BN bailout and debt restructure!

Thursday, July 02, 2015

Varoufakis To Resign If Yes Vote


I bet 10 Drachmas he doesn't!

Pressure on Greece Increases

Eurozone finance ministers have ruled out any further talks on a fresh bailout for Greece until after the referendum.

Meanwhile the IMF put the other boot in, as Christine Lagarde said that Greece must sign up to economic reforms before it gets debt relief.

However, Varoufakis has stated that the banks will open next Tuesday. Quite how they will open remains a mystery. For good measure he has also had a go at the ECB.

Wednesday, July 01, 2015

Greece Crisis Live

Schaeuble Says Nein!

Schaeuble says there is no basis to have serious negotiations with Greece at moment.

Latest Greece Rumour - Tsipras Folds

Greece Defaults To The IMF

Greece has become the first developed country to default to the IMF.

Lagarde will act immediately, and will not delay reporting the default officially.


Tuesday, June 30, 2015

Algo Feeding Time - Greek Deal Done BS

Apparently a deal will be done today, a Eurogroup meeting held and the referendum called off!

That at least is today's Greek rumour!

Yanis Varoufakis has just gone into the Ministry of Finance today and told reporters: "We want to stay in the euro but want a viable solution. The proposals from lenders was not viable." 

Taking Cash To Greece

Travellers to Greece are being told by all and sundry to take plenty of cash.

However, there is one question that no one appears to know the answer to.

What happens when these travellers leave Greece with surplus cash, will they be allowed to take it out of the country?

No one knows!