Euro tanks after Greece votes 'no'

affanpervez

Minister (2k+ posts)
Euro tanks after Greece votes 'no'





euro-plunge-greferendum.png
Finviz.com
Currencies are trading in Asia's monday session, and it's not looking good for the euro.
At around $1.100, the euro is down about 0.7% against the US dollar.


This comes after polls closed for Greece's referendum. With a little more than 50% of the votes counted, the "No" vote is in the lead with about 60% of the count. In other words, "No" the Greek people do not want to accept strict fiscal austerity measures in exchange for desperately needed bailout money.


Before Sunday's vote, early surveys and forecasts showed the "Yes" vote was likely to win as it seemed to mean less financial and economic turmoil in the near-term.


"IF this historic "no" win is confirmed, look initially for a general selloff in global equities, along with price pressures on the bonds issued by Greece, other peripheral Eurozone economies and emerging markets," Allianz's Mohamed El-Erian wrote in a post on Facebook.


A "No" vote would push Greece closer to exiting the Eurozone currency union, which could mean many more years of economic pain.


JPMorgan's Malcolm Barr is already telling clients that a Greek exit from the euro is his base case scenario. He also warned that the exit could play out chaotically.






Read more: http://uk.businessinsider.com/euro-falls-after-greek-referendum-no-vote-2015-7?r=US#ixzz3f3EmcQF5
 
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Pukaar

Senator (1k+ posts)
With two-thirds of ballots counted, results from the Greek referendum show voters decisively rejecting the terms of an international bailout.

Figures published by the interior ministry showed 61% of those whose ballots had been counted voting "No", against 39% voting "Yes".

Greece's governing Syriza party campaigned for a "No", saying the bailout terms were humiliating.
The "Yes" campaign warned this could see Greece ejected from the eurozone.
Some European officials had also said that a "No" would be seen as an outright rejection of talks with creditors.
But Greek government officials have insisted that a "No" vote would strengthen their hand and that they could rapidly strike a deal for fresh funding in resumed negotiations.
Greek banks will reopen by Tuesday, they say.

Nothing can stand against American capitalism. Euro is crumbling
 

Lodhi

Chief Minister (5k+ posts)
Greece debt crisis: Greek voters reject bailout offer


 
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sngilani

Chief Minister (5k+ posts)
The astonishingly strong victory by the 'No' camp overturned opinion polls that had predicted an outcome too close to call. It leaves Greece in uncharted waters: risking financial and political isolation within the euro zone and a banking collapse if creditors refuse further aid.
 

sarbakaf

Siasat.pk - Blogger
کیوں بھائی یورو نے کیا تمہارا باپ مارا تھا ؟

جناب
ایسی کیا بات کر دی صاب نے جو آپ باپ تک جا پونچے ؟


آپ کو ان کے جواب سے اختلاف ہے تو زیادہ مناسب الفاظ میں تنقید کر دیں ، اگر وہ بھی ایسا ہی باپ ، بہن والا جواب دے گا تو آپ کیسا محسوس کرینگے ؟
 

Jaanu

Councller (250+ posts)
جناب
ایسی کیا بات کر دی صاب نے جو آپ باپ تک جا پونچے ؟


آپ کو ان کے جواب سے اختلاف ہے تو زیادہ مناسب الفاظ میں تنقید کر دیں ، اگر وہ بھی ایسا ہی باپ ، بہن والا جواب دے گا تو آپ کیسا محسوس کرینگے ؟

انکل آپ کا بلبل پچاس کروڑ سے زیادہ لوگوں کے پیٹ پر لات مارنے کی بونگی مار رہا ہے . لگتا تو ایسا ہی سب نے مل کر اس کا باپ مارا تھا
(serious)​
 

Lodhi

Chief Minister (5k+ posts)
Greek Referendum Final Result: Greek voters reject bailout offer with 61.31% of the vote - Emergency EU meeting tomorrow.


 

Galaxy

Chief Minister (5k+ posts)
Re: Greek Referendum Final Result: Greek voters reject bailout offer with 61.31% of the vote - Emergency EU meeting tomorrow.

​Good thing let the EU fall apart.May Allah keep them busy fighting among themselves just like they did hundreds of years before.
 

greenstar

MPA (400+ posts)
Re: Greek Referendum Final Result: Greek voters reject bailout offer with 61.31% of the vote - Emergency EU meeting tomorrow.

​Good thing let the EU fall apart.May Allah keep them busy fighting among themselves just like they did hundreds of years before.


Actually, they have proved that they are still civilized despite the unrest. In south asia, sham referendums are held by military dictators and the people fight and destroy their own country in the name of politics.
 

Spartacus

Chief Minister (5k+ posts)
Re: Greek Referendum Final Result: Greek voters reject bailout offer with 61.31% of the vote - Emergency EU meeting tomorrow.

They are fooling the World.
They did not say no to the loan they said it is very less.
 

mohammadi

Minister (2k+ posts)
Re: Greek Referendum Final Result: Greek voters reject bailout offer with 61.31% of the vote - Emergency EU meeting tomorrow.

this shows that they are not murda lashain. they have fallen to rise
 

JuanM67

Banned
Greek Vote No Europe- Imposed Austerity

greece-russia-flags.jpg


Greeks Vote NO To EU-Imposed Austerity

By Paul Craig Roberts

July 06, 2015 "Salon" -With 90% of the votes counted, the Greek people have voted 61% to 39% against accepting the latest round of austerity that the EU is trying to impose on the Greek people for the benefit of the One Percent. What is amazing is that 39% voted for the One Percent against their own interests. This 39% vote shows that propaganda works to convince people to vote against their own interest.

The vote was not a vote to leave the EU. With the backing of the Greek nation, the Greek government hopes to reopen negotiations with the EU and to find a solution to the debt problem that will actually work. The EU objects to the Greek people having a voice in their fate, and unless common sense prevails is inclined to disregard the vote and to maintain the EU’s inflexible position that the debt issue can be resolved only on the EU’s terms.

As has been made perfectly clear, these terms are more looting of the Greek economy by the One Percent.

As the Greek banks are closed and evidently cannot reopen without a resolution of the issue, EU inflexibility would force Greece to leave the euro and return to its own currency in order to reopen the banks. This would not require Greece’s departure from the EU as the UK and one or two other EU member states have their own currencies.

However, most likely the EU and Washington and Washington’s Japanese, Canadian, and Australian vassals would attack the new Greek currency and drive its value in exchange markets to such a low value that Greece could not import and wealth held in Greek currency would be worthless abroad.


An inflexible EU creates conditions for Russia and China to act. These two powerful nations have the means to finance Greece and to bring Greece into the economic relationships established by these two countries and by the BRICS.

Alexander Dugin, a Russian strategic thinker who has the ear of the Russian government, has said:

“The Russians are on the side of the Greeks, we will not leave them alone in their suffering. We will help them and give them every possible support. Brussels and the liberal hegemony seek to dismantle Greece. We want to rescue it. We took our religions faith from Greece, as well as our alphabet and our civilization.”

Dugin said that the Greek referendum is the start of “the fundamental European liberalization process from the dictatorship of the New Jewish World Order.” He says this also is “our own endeavor.”

The Greek drama is far from over. Pray that the Russian and Chinese governments understand that rescuing Greece is the start of the process of unravelling NATO, Washington’s mechanism for bringing conflict to Russia and China. The One Percent have Italy and Spain targeted for looting, and eventually France and Germany herself. If the Greek people rescue themselves from the clutches of the EU, Italy and Spain could follow.

As Southern Europe departs NATO, Washington’s ability to create violence in Ukraine is diminished as the world realigns against the Evil Empire.

Washington’s power could suddenly diminish, thus saving the world from the nuclear war toward which Washington’s Jewish neoconservatives are pushing.

Source
 
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jaanmark

Chief Minister (5k+ posts)
Re: Greek Vote No Europe- Imposed Austerity

Get free from hardship of Washington’s Jewish, its look bad because of BBC and CNN ,in real they are now a free nation and Pakistan have to learn from Greece . thanks it over from Greece people
 

GeoG

Chief Minister (5k+ posts)
Re: Greek Vote No Europe- Imposed Austerity

Get free from hardship of Washington’s Jewish, its look bad because of BBC and CNN ,in real they are now a free nation and Pakistan have to learn from Greece . thanks it over from Greece people

Lolz this is the comment of the year on this forum

Yes, in real they are free nation now
they rejected Khairat from EU that it is too small
and they are asking for a bigger hand out, a truly free nation ..

 

awan4ever

Chief Minister (5k+ posts)
Re: Greek Vote No Europe- Imposed Austerity

Its funny to see people jump on the "free from Jews" bandwagon whenever a country defaults without actually looking at the underlying problems.
Greece was an ailing economy for a long time. They had a big social welfare system and a bad industrial/production sector to generate the required funds to feed all the retired people.
In Greece retirement can start as early as 55. The corrupt governments allowed the richest Greeks to get away without paying any taxes so consequently the poor also started skirting taxes.
As a result only 40% of Greeks pay any form of tax which is not enough to sustain the economy which rides mostly on tourism. (98% of German citizens pay their taxes)

The Greeks fudged up their bankbooks and showed their economy to be stronger than it actually was when they joined EU and got access to easy lines of credit from Germany. They took the loans gleefully and spent it on sustaining their large public sector without fixing the tax system and the industrial sector. Because of the Euro their tourism industry became less profitable due to becoming more expensive than it was when the weaker drachma was in circulation.

So basically as Ghalib said "Qarz ki peetay thay mai aur samajhtey thay key haan, Rang laavegi hamaari faaqa masti aik din" fits the Greek mindset perfectly.

Now when the lenders are knocking at their door asking for money, the Greeks are trying to play victim.
Instead of cutting down expenses by curbing social welfare spending they want to promise more taxes but everyone knows they wont collect them as they never have before. So the lenders are not ready to negotiate on their pack of lies anymore. The EUs fault is that they lent easy money so they are liable for the risk. But you cant blame the lender for lending without questioning the borrower for borrowing.
 
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