Has anyone been able to work out yet exactly what it is the Greeks are celebrating?

[Berni]

I mean, yes it's fun sticking two fingers up to the EU and Germany in particular - we can all get behind that. But it doesn't really alter the fact that they - y'know - still don't have any f**king money and are royally f**ked, does it?

[Sir Charlie of Nicholas]

The Greeks have voted against austerity, do you see? So now the austerity will all go away and the fluffy unicorns will fly down from heaven and rain Deutschmarks all over the happy smiling Greeks below, who will collect this money in buckets, if they can be bothered, and get on with enjoying their retirements.

No wonder they're celebrating!

[Classic Jorge]

Yeah, it does seem mean to suggest that x number of years of penury is the alternative though

[Luis Anaconda]

That's what I seem to have read. I mean nothing screams triumph of democracy than letting hoi polloi vote on incredibly complicated economic matters that they can't hope to understand (if anyone actually does. Well done democracy

[Classic Jorge]

The whole concept of austerity itself does seem to be pretty flawed, mind. The fact it seems to be a pretty big (ze) handbreak on growth seems to pass most people by.

[IUFG]

it.

* This statement may contain wild inaccuracies.

[Rich]

the EU/IMF then there will simply be no money left.

Are all the 55 year old retirees going to be as happy when their pensions stop?

[Berni]

See what I did there? ;-)

[Sir Charlie of Nicholas]

She's going to need all your pennies to replace the ones the Greeks couldn't really be arsed paying back.

[Classic Jorge]

Cherubim and Seraphim feeding you grilled halloumi dont pay for themselves, you know.

[Rich]

There will be tax officers on the streets with buckets for you to lob a few Euros in, should you fancy it.

[Sir Charlie of Nicholas]

I suppose we should expect nothing less from la, though. Him being such a polymath and all.

[Sir Charlie of Nicholas]

as 'paying tax' for so many years. I'm sure they have helped their situation.

On the other hand, Greece had the EU's fastest growing economy until our heroes of the revolution f**ked it all up in the space of 6 months. GO LEFTIES!

[Classic Jorge]

[Sir Charlie of Nicholas]

[Classic Jorge]

[Berni]

should be relative to your wealth and income as a nation. The problem essentially has been that Greece has been living not just above its means, but essentially in cloud cuckoo land for decades. The Greek situation at the moment is essentially a refusal to accept the reality that their per capita income should be vastly lower than it has been and that they do actually need to pay tax. They don't much like the taste of that reality.

[Classic Jorge]

It would certainly take a very subjective reading to say it has worked here, for instance, and in the US - where they pretty conclusively eschewed it - they seem to be doing OK.

But yes, obviously paying taxes helps the balance sheet, not entirely sure a policy of hampering any nascent growth does though.

[Berni]

who wagged their fingers at us about austerity are stagnant is just a coincidence.

Also, the US economy received a massive and pretty much unexpected boost from shale gas and will always grow much faster than European economies due to the fact that it is much more business-friendly (low-tax, low-regulation, etc, etc).

[Sir Charlie of Nicholas]

:-(

[Luis Anaconda]

[Classic Jorge]

[Berni]

[Sir Charlie of Nicholas]

[Classic Jorge]

[Sir Charlie of Nicholas]

steady, sustainable levels of growth.

[Classic Jorge]

The worrying thing is that what little economic recovery we have seems to be almost exclusively be predicated on property so, whilst the economy itself is hobbling along at something approaching zero, we're also fostering a bubble based on something which has already been shown to be a volatile and unsustainable asset.

So whilst the levels of growth may well be steady(ish) I'm not entirely sure they're sustainable, thank god for Russian capital flight, eh?

[Sir Charlie of Nicholas]

who disagree with current government policy. People have jobs. Shops, restaurants and bars are busy. Life goes on, and, for the vast majority, it goes on pretty bloody well.

Sorry to disappoint.

[Classic Jorge]

Nor would I say that your sample, being the bit between Mayfair and the c**t Kentryside, might not be entirely representative.

[Sir Charlie of Nicholas]

Even that's looking pretty prosperous these days.