A Resounding No Vote by Greece

https://i1.wp.com/demonocracy.info/images/euro_10_thousand_10000.jpgA Resounding No Vote by Greece

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A crises of confidence is the final root problem in Greece.  It represents a lack of trust in honoring financial trustworthiness.

“In 2012, Greece’s government had the largest sovereign debt default in history. Greece became the first developed country to fail to make an IMF €1.6 billion loan repayment on June 30, 2015. At that time, Greece’s government had debts of €323 bn.” (source: Wikipedia)

Some of the root causes for this deficit can be blamed on several factors:

  • Government overspending
  • Current account imbalances (funny money bookkeeping practices–“Greece is the only member state that cheated with its statistics for years and years”) (source: Wikipedia)
  • Tax evasion and corruption
  • the Downgrading of Credit Worthiness
  • Shutdowns of Government and Stock Markets

Solutions involving possible default, restructuring banking loans or the possible withdrawal from the Eurozone is what ultimately led voters to the voting booth Sunday, July 5, 2015 to vote on a referendum for a Yes to stay in a 19 member Eurozone or a No vote to reject the austerity demands of the international creditors from the Eurozone.

However though, the restructuring may not have been in place or strong enough to convince the creditors (the European banks) that they would be repaid in time to either grant an extension or pull in more financial aid to get Greece through in this period of financial turmoil.

“As of 2012, tax evasion was widespread, and according to Transparency International’s Corruption Perception Index, Greece, with a score of 36/100, ranked as the most corrupt country in the EU.” (source: Wikipedia)

The economic, social and international ramifications and the continuing and increasing debt  are noteworthy.

GREECE Says NO!! Monday Madness Expected

Honeymoon Over for Greek Couple Who Went Penniless in NYC

Greek Orthodox Church“Newlyweds Valasia Limnioti and Konstantinos Patronis’ long-planned “dream trip” to the U.S. ended in New York City, where their three-week honeymoon quickly turned into a nightmare: Their Greek-issued credit and debit cards were suddenly declined and they were left penniless. “We were hungry, and I cried for two days,” Limnioti said. “I felt homeless in New York.” The couple skipped a few meals before spending their last dollars on dinner at McDonald’s. Strangers from two Greek Orthodox churches in the city’s Queens borough came to the rescue, giving them survival cash until their flight home to Greece on Friday. Valasia Limnioti described her bafflement at the turn of events.”

This was the scene four days ago in Greece with long lines to get to the ATM’s.  What will it be like Monday or the day after, if the banks do not open for business as some are predicting?

“Heartbreaking Scene” – Greeks Treated Like Animals By Banksters

Summary:

“So it goes” is a simple but profound phrase–so it goes with Greece it shall be for others (including the U.S.) who fail to honor their financial obligations and defaults start to hamper triggering inflationary funny money printing like QE (Quantitative Easing) causing bloating in the financial districts:

“The process would be inflationary if the banking system were to use those reserves to increase their loans. This is the fundamental concern of those who fear that QE is going to cause inflation or hyperinflation, and it is not unreasonable.” (sourcecnbc)

Are you saved?  Do you know Jesus Christ as your Lord and Savior?

Stay safe.  Be blessed.

 

SeashoreMary

 

 

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9 thoughts on “A Resounding No Vote by Greece

  1. The US should open the door to economic refugees from around the world.

    I don’t mean immigration. They should keep their visitor status, and as President Obama puts it, “their tribal identities.” Greeks fleeing austerity in Greece are no different than folks doing the same from Honduras, Nicaragua, Haiti, Syria, Burundi, Puerto Rico, or even Detroit.

    US borders are completely porous to visitors. That’s just good business. Why discriminate on the basis of class, while giving lip service to racial and gender equality? Take immigration off the table and increased foreign visitation becomes financial opportunity.

    Mr. President — tear down the walls to foreign visitation!!

  2. http://www.vox.com/2015/7/2/8884885/american-revolution-mistake
    a. abolition of slavery sooner – y
    b. less genocide against indian tribes – y
    c. monarchy and parliament better – n

    other reasons…
    d. “rebellion is as witchcraft”
    e. institutionalized cult and mystery religions in government
    f. established facade of rationalism
    g. implemented market speculation
    h. federalism over regionalism
    i. the kingdoms of this world are not the kingdoms of our Lord

    While I’m offended by the american flags (and others) across history, the point is to forgive, not forget. Those who repeat the same old mistakes are crazy or worse.

    Concerning Greece, Puerto Rico, Detroit, and other debt….

    Matthew 6 and Luke 11

    Our Father which art in heaven (Our Father which art in heaven )
    Hallowed be thy name (Hallowed be thy name)
    Thy kingdom come (Thy kingdom come)
    Thy will be done in earth (Thy will be done)
    as it is in heaven (as in heaven so in earth)

    Give us this day our daily bread (Give us day by day our daily bread)
    And forgive us our debts (And forgive us our sins)
    as we forgive our debtors (for we also forgive every one that is indebted to us)

    And lead us not into temptation (And lead us not into temptation)
    but deliver us from evil (but deliver us from evil)

    For thine is the kingdom and the power and the glory
    – for ever. Amen.

    For if ye forgive men their trespasses
    – your heavenly Father will also forgive you
    – But if ye forgive not men their trespasses
    – neither will your Father forgive your trespasses

  3. The Washington Post reports:
    European Central Bank opts not to expand funds for flailing Greek banks
    “ATHENS — In a move sure to increase pressure on Greece’s flailing banks, the European Central Bank on Monday decided not to expand an emergency assistance program, raising fears that Greece could soon go completely bankrupt.” More…
    http://www.washingtonpost.com/world/greeks-reject-bailout-offer-in-landslide/2015/07/06/827b840f-f803-443d-a478-5d257b1af1fe_story.html

      • Hey Corey: I’m not showing anything pending in moderation for you. You can have 4 links. I’m going to guess that a video is a “link”; however, if you “post” more than that in a single “comment box” then it should go to moderation at which time I can “release” for full posting.

        We’ll see though…I left it at four so as not to loose the reader by taking in too much at one time because the comment box is a bit small. You can do multiple comment boxes per topic if you need to, I don’t think that it would affect WordPress program. It’s a trial and error learning process…

        Mary

        • I see. I thought it was my computer as it has acted kinda strange like that before with just one link or video. I was ready to give it a good tongue lashing and let it know “what’s what” when I happened upon your above comment. Thanks for the info.

  4. Derek @ SkyWatch…
    – covered GREXIT, Banksters, and
    – More Faith in The Creator, and
    – less faith in big gov or mammon
    – very wisely said, and then segued
    – self referentially right into cubism

    For those contemplating alternate and other realities…
    – it’s worth considering TXEXIT as an option, since
    – the near future of USCAM ain’t lookin’ pretty

    – (that’s US, Canada, and Mexico = U-SCAM)

    cp. “Come out of her My people…
    – that you not partake of her sins
    – and receive not her plagues.”
    – STDs in every orifice (political, moral, or financial)

    Not that Texas has any corner on heaven…
    – houston especially considered
    – remember Boris Yeltsin, compadres
    – “their center can not hold”

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