#1
I really don't grasp the whole situation, like their economy is collapsing and it's effecting every other country in Europe somehow? Someone help me understand
love is love // return to dust
#3
we all use the euro in Europe so is their money gets F ucked so does ours......i think!
#4
because Greece uses the same currency as a lot of other European countries, their economy going down the shitter has dragged the other countries with it.

V
You're using UG classic, congratulations.
You should be using UG classic.




E-Married to Guitar0Player

http://the llama forum because its gone forever which sucks and I hate it.
Last edited by jgbsmith at May 25, 2010,
#5
Quote by The barnicle
we all use the euro in Europe so is their money gets F ucked so does ours......i think!

*ahem*

EDIT: ^^ We win
My name is Danny. Call me that.
#7
Basically greece took a bunch of loans and handled money like a woman would overspending it instead of saving it for important things and now their economy is shit. Angela Merkel, chancellor of germany, is a woman and can understand what that's like so she wants to save greece by giving them alot of money (something which has proven useful in the past, oh wait) but other countries don't like that idea, like the UK and I think france (oddly enough given the situation).

Greece tried dealing with the whole thing by rioting and arranging large strikes which usually helps the economy, but they failed in restoring it so now they hope other countries will come and rescue them.
████████████████████████████
███████████████████████████
█████████████████████████
██████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
Last edited by Kensai at May 25, 2010,
#8
Apart from economic factors there have been large scale demonstrations and talk of a general strike due to austerity cuts as part of the conditions put forth by the IMF. Resulting in:



Quote by Nosferatu Man

T-shirts are a sign of degeneration and decline.
#9
Think sandstorm. Then replace the word sand with shit. Thats whats going down in Greece. A shitstorm.
#12
Quote by Deliriumbassist
Zeus got pissed off, now we're all f*cked.

Don't forget Poseidon randomly raping women just for lulz.
#13
Quote by Kensai
Basically greece took a bunch of loans and handled money like a woman would overspending it instead of saving it for important things and now their economy is shit. Angela Merkel, chancellor of germany, is a woman and can understand what that's like so she wants to save greece by giving them alot of money (something which has proven useful in the past, oh wait) but other countries don't like that idea, like the UK and I think france (oddly enough given the situation).

Greece tried dealing with the whole thing by rioting and arranging large strikes which usually helps the economy, but they failed in restoring it so now they hope other countries will come and rescue them.

This is the best reply you can get to your question, seriously. Explains everything in a simple and fun way and you can still get a perfect idea of what's going on there.
Quote by xaviergray
Asking the Pit to play this is kinda like asking the guy who makes suggestive gay jokes if he wants to have sex with a man.
#14
They're dragging the value of the euro down.
Which may be a good thing when I go get euros for Spain in summer.
wen i ask they say that they fall into the habit smhw ........but nyways i think there is a connection smwhere. Now i being a teetollar will not give into this habit nyhw

FOR JUST £2 A WEEK, YOU CAN PREVENT THIS.
#15
Basically the new Greek government stepped in, and discovered that the previous government had been lying about the amount of borrowing. So Greece now has a massive budget deficit, about 13.6% of their GDP.

But Greece simply doesn't have the money to pay the back the money they owe. As a result they have tried by dramatically reducing public spending and tried to boost tax revenue. This has made the citizens angry.

There is also quite a high probability that Greece will be unable to pay back this money; credit agencies have downgraded Greece's debt to 'junk' standard. So no one is investing there anymore. Basically the eurozone needs to step in, so this is how it affects everyone else. A lot of the tax payers money from the eurozone will be going towards bailing out Greece.

AND SO I WATCH YOU FROM AFAR

#16
Quote by Morgy
Basically the new Greek government stepped in, and discovered that the previous government had been lying about the amount of borrowing. So Greece now has a massive budget deficit, about 13.6% of their GDP.

But Greece simply doesn't have the money to pay the back the money they owe. As a result they have tried by dramatically reducing public spending and tried to boost tax revenue. This has made the citizens angry.

There is also quite a high probability that Greece will be unable to pay back this money; credit agencies have downgraded Greece's debt to 'junk' standard. So no one is investing there anymore. Basically the eurozone needs to step in, so this is how it affects everyone else. A lot of the tax payers money from the eurozone will be going towards bailing out Greece.


This is the best answer here so far.

They also tried to reduce their defecit from about 13% to 5% by 2012, which is a LOT of money in such a short time and included dramatic tax rises, VAT increases, more tax on alcohol and other such things, and public sector pay cuts. Made the people unhappy.

To be fair though, it's the previous government who spent so much and got them into such a mess.
#17
Greece has been living beyond their means for many years. Their's is a culture of tax evation which crippled government income. They also allow government workers to retire quite early (age 50) with a good pension. When they joined the UE they cooked the books hiding the debt (which had it been known, their entry would've been refused) and the EU community is on the hook to bail them out now (a benefit of being in the EU).
So, there is a sense of entitlement by the general Greek population that needs to change to reflect their financial situation which they refuse to accept. They therefore protest the drastic actions proposed by the government to get their debt and economy under control which must be done if the bail out is to happen or the situation will repeat itself in the near future. What angers many people outside of Greece is they want a lifestyle they can't really afford (better than their fellow EU'ers), and expect the other EU conutries to pay for it to boot.
Moving on.....
#18
you guys, we all know they're just pissed off because someone drew a picture of zeus holding a dildo instead of lightning.
You who build these altars now

To sacrifice these children
You must not do it anymore
#20
Dunno anythin' bout it till now, but we got lots of Greek fellas over here in Melbourne, aye? Not bad blokes either, nothin' wrong with 'em. But ye, sounds like these fellas got a few kangaroos loose in the top paddock from what I'm readin. Just relax, mate.
Quote by whalepudding
That is the most Australian post I've ever seen.

Fuckin' oath, fella!!
Quote by 'GoodnightHero'
i absolutely fucking love you.
and it has nothing to do with your lego ACDC fetish.

Strewth, cobber! Good on ya!
#21
Divided thread.

1) Greek Mythology = gooood.

2) Facts about Greece fucking shit up = baaaad
Quote by Holy Katana
Your last job only paid you $7.00 AUD an hour? That's like $6.05 in the US. What the hell is the minimum wage over there?


Quote by titsmcgee852
$0 for volunteer work

ollollolollol


^
Last edited by Henkdemachtige at May 25, 2010,
#22
Basically ND came in as saviors a few years back, and completely blew it big time by fudging the econ stats. Now PASOK have come back and continued being the shifty bastards they always were and promptly fucked things up even worse.

Such is another day in politics.
LtBrenton

Quote by Douglas Adams
The art of flying lies in learning how to throw yourself at the ground and miss.


Quote by soulflyV


If I didn't have a mudkip in there, I'd sig that.


http://ltbrenton.wordpress.com My blog. Check it out.

☠ ☠ ☠
#23
Quote by el-ECTRO
They're dragging the value of the euro down.
Which may be a good thing when I go get euros for Spain in summer.


It's also nice for me as that means I can buy expensive guitar wood for a nice cheap price.


There's always an upside.

|_|0|_|
|_|_|0|
|0|0|0|
▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄▀▄
#24
Another 6-12 months and Italy is going in the same Sh*tstorm of Greece.
Peavey Bandit 112
Washburn Chicago series :SD Invader at bridge ,GFS Lil Killer on neck
Bc Rich Warlock :GFS Vintage59 on neck ,Crunchy rails on bridge
Epiphone SG :Tusq Nut, GFS Crunchy Pat on neck, bc rich pickup on bridge
lots of cheap pedals
#25
Quote by The barnicle
we all use the euro in Europe so is their money gets F ucked so does ours......i think!


*Cleans throat*
ERROR 0x45: Signature not found
#26
Quote by Mistress_Ibanez
This is the best answer here so far.

They also tried to reduce their defecit from about 13% to 5% by 2012, which is a LOT of money in such a short time and included dramatic tax rises, VAT increases, more tax on alcohol and other such things, and public sector pay cuts. Made the people unhappy.

To be fair though, it's the previous government who spent so much and got them into such a mess.


When's the UKs turn?