Aboutme.Subinfinance - Greece Made Europe Bleed With A "No" Referendum
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Aboutme.Finance
Tsipras says voters made ‘brave choice’
https://www.facebook.com/pages/Invest-With-Me/724055061054233?ref=aymt_homepage_panel
Alexis Tsiparas has said Greek has made a wise choice
in rejecting the International Bailout in Sunday Referendum. Thousands seen
cheering the streets when the result was finalized 61.3% as NO against 38.7% as
Yes. Still European Union is meddling out the mantle by giving warning that
Greece will be out of European Union. If Greece will be out, will Europe
Survive the storm. Here in the market EURO FELL ACROSS THE BOARD IN ASIAN
MARKETS on Monday. There in Greece Finance Minister too resigned, to keep moving
with talks with Europe.
TELEGRAPH.UK: The really worrying financial crisis is happening in China, not Greece
BBC NEWS: Greece debt crisis: Eurozone sets 'final deadline' for new ...
THREE YEARS RESCUE PLAN FOR GREECE
VIDEO :www.telegraph.co.uk › Finance › Economics
Greece democracy can’t be blackmailed. But the brave
Greece people with unfavourable condition still made a good choice. Still
Greece need to fast restructure its economy. European Officials already got a
slap on their face, while playing with Greece. But still they keep on taunting
them for the ‘No’ Vote made by them. Renewed talks must be there to keep the
economy falling into further crisis. Italian and Belgium Ministers is
interested to start the New Greece Crisis ahead.
Europe is entering the 'Difficult time' unless Greece Government will come-up with meaningful plans.
Greece
Banks are going to run out of cash in a few days from now, which will be depend
on European Central Banks Governing council, but fast Emergency Liquidity
Assistance is required not only for Greece but also for Europe too.
German Chancellor must come up with
the idea fast, to keep Germany in the momentum of growth. If it delays, Germany
will be entering the policy of slowness. Withdrawal for people will be limited
as of now, Euro 60 per day. Europe must re-negotiate to keep it going because
Europe as an economy is slowly growing and if crisis erupts Europe will fall
from slightly growing to recession economy once more.
COUNTRIES IN TROUBLE
|
DEBTS
|
GERMANY
|
68.2 BN
|
FRANCE
|
43.8 BN
|
ITALY
|
38.4 BN
|
25.0 BN
|
|
IMF
|
21.4 BN
|
ECB
|
18.1 BN
|
NETHERLANDS
|
13.4 BN
|
US
|
11.3 BN
|
UK
|
10.8 BN
|
BELGIUM
|
7.5 BN
|
AUSTRIA
|
5.9 BN
|
FINLAND
|
3.7 BN
|
TOTAL
|
267.5 BN
|
Euro 267.5 Billion is Greece Debt
with Various Countries, International Monetary Fund and European Union
Organization. Whereas, Total GDP of
Greece is considered to Euro 242.2 Billion. Greece is facing the worst
unemployment in the decade due to less trade, slow down in shipping industry,
Europe too is slowing down, etc. Due to heavy unemployment, people depend on
pension provided by the Government. If it’s cut by half a percentage, Greece
will be having less problem whereas IMF is arguing for 1% cut, which made them
call for referendum. Deposit rate is Banks are decreasing day by day and it’s
difficult for Greece Central Bank to print notes now as they swing between Euro
and Drachma’s. Real GDP has fallen to 25% against last year, which is
considered to be biggest fall after recession 2008.
European Union is a combination of
18 countries and for Greece only monetary policies will not work. Europe must
consider its fiscal policies too automatically to keep in momentum. Greece has to
devalue its currency to make use of the growth momentum coming in. Greece
economy is 2% of the Euro Zone Economy. IMF nurtured Greece by saying that it
must write down its debts, devalue it currency and balance its budget
respectively. Apart from that the country must become fiscally reliant also.
Cheaper currency will be better than more taxation which ends up in lesser
growth and decelerating the economy. Take the example of Iceland, which
devalued it currency and made the economy stronger.
Apart from that If Greece gets
defaulted German Banks will be losing Euro 68.7 Billion, France Euro 43.8
billion, Italy 38.4 Billion and Spain Euro 25 Billion, etc, that means all this
money provided to Greece is the credit line offered by Banks in their country.
If Greece defaulted means all the banks in the following countries will dry off
and whirlpool of crisis will escalate. This will increase the cost of other
existing European Countries and Next to default will be Portugal which is
growing on minor lines. If Greece got bailed off means all the Banks will be
getting the money back and economy will resume. But now IMF payment has been
put on hold. As economy shrinks, debts get bigger and bigger in real terms.
Still the panic firewall of Europe is yet to be tested.
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Greece:-
If opted out of Euro means Drachma will fall down in value, Inflation will be
coming in, Food, Oil and petroleum products must be rationed, Companies who
work with Euro will become bankrupt and overall change in currency will be done
in one day only. A country with 25% unemployment, growth slashed by 25% will
see a massive problem facing in Greece. After the rough period, Greece will be
having a cheaper currency, economy will be growing and unemployment will be
decreasing slowly. But Fiscal measure must be taken faster to keep rolling.
European Union:
If Greece in crisis means European Union is in Crisis. Greece will take away
Euro 240 Billion and ECB loans amounting 89 Billion when defaulted will be
proclaimed. Apart from that it will be affecting smaller countries like
Portugal, Spain and Italy as the cost of Loan given will be increased. Bonds
will be bought by ECB’s, but if Interest Rate started moving up, Then ECB will
out of cash to cope with it. Europe will fall against United States Dollar.
Austerity measures will become costly for Europe.
United States:
There will be minimum crisis where the funders will be having an issue only.
But world economy will decelerate, Some institutions will close down and less
effect can be seen. But once Europe is in, it can pull United States from
moving upwards. World economy will decelerate and lot of unemployment can
happen. More ways to go…………..USA.
Greece Finance Minister Yanis Varoufakis resigned after
the referendum which will not hamper upcoming aid-talks. Angela Merkel and French President Francois Hollande
will be discussing further measures to cope Greece crisis.
European Stocks Rise After Greece Requests Bailout--2nd Update
VIDEO: http://www.bloomberg.com/news/.../germany-makes-up-...
GREECE WITH RUSSIA
Greece is moving to Russia to mend
ties as he shared the stage with President Vladimir Putin at key Economic
Summit in St. Petersburg on Friday. Russia is considered to be important
partner of Greece. The problem of Greece is now or later the problem of
European Union in total. Brazil, Russia, India, South Africa and China must
come forward and help Greece to bring back the economy in normalcy. Russia,
India, China, Brazil and South Africa had done massive fiscal restructuring to
bring back the fallen economy and now doing fantastically forward. Embargo will
follow and all stood against the storm. Import replacement is one way where
Greece can survive the European Union Threat. Let get this Greece Crisis out of
mantle and move forward. Greece right now struck a gas deal with Russia and
Russia is getting a backward entry to Europe through Greece. Wow……what a
move?????. The Russian News are shown below, which Greece will be making enough to come out of crisis.
Greece Can Easily Get Funding From BRICS Bank: Russia
BRICS FMs discuss elements of development bank - Moneycontrol ...
VIDEO: Greece may apply for BRICS bank, but not discussed ...
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