18 Responses to Greece to run out of money by August 20: crisis entering dangerous new stage

  1. Will Greece end up being the pebble that starts the ripples of economic collapses throughout Europe and beyond? I think that it may be, for I don’t see much hope that Greece will be able to meet the conditions for such a big bailout, and even if it does then there is still Spain and Italy coming down the road at full throttle. When even Germany is doing poorly, how can some of the other EU members hope for help, although I’m sure that China would be all too happy to offer a hand in exchange for influence.

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  2. EuroAtlantic says:

    How many times have we heard these “Greece will run out of money”? Quite a few. Only the date is changing: in June http://tinyurl.com/btzlwwz ; in July http://tinyurl.com/cub62s8 and now, August. It seems that a hidden desire, maybe from the so-called ‘markets’, are eager to see some real and brutal disgrace upon the people, the greeks in this case, but by extent to some other in Europe, and not only the southern ones, if that happens.

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    • It was discussed in July because the country is recieving payments, based on the agreement to make cuts each month with austerity programs. So, when the cutting stops, the money stops flowing. So technically, Greece is always out of money…but you’re right—tecnocrats are using this crisis to brutalize the Greek people. I couldn’t agree more.

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      • jehjeh007 says:

        Alvin, this is the shaker of the world I was talking about. However, the reaction will not be like times before unless China is forced into this game. With problems China are currently having and their current attitudes with Syria, this seems highly unlikely. Some believe that Germany will be forced to contribute. NOT! Germany WILL hold the theives accountable. This will force the the system to bring them to the surface and the track of their exposure is going to lead to persons that will shock the world.

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      • son of man says:

        Yes I agree, and when Greece is forced to sell it’s utilities, power companies, water, hospitals, transport, garbage collection etc etc, then these tecnocrats & banks will brutalize them for the rest of there miserable lifes….or until they have nothing left to give. Shocking!

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      • niebo says:

        “tecnocrats are using this crisis to brutalize the Greek people.” Alvin, why? I don’t see the point, except to make an example of them for being the first “hopeless” failure in the world market, a market which they (as people and a nation) neither invented, created, nor sabotaged. It’s the game that everybody is playing, and, apparently, losing, so. . .what am I missing that I don’t understand the hostility?

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      • Because the technocrats are telling the banks we need money or the country will default, declare bankruptcy, or leave the eurozone (as with Monti in Italy) while others are telling the people, if you elect me; no austerity measures, as was the case in Spain. Unfortunately, people are caught and victimized in the middle, as some of the bailout money is syphoned off by corruption and the austerity cuts will come regardless. It’s a classic case of a system that may now be too sick to amputate its own diseased foot.

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  3. Gina says:

    OMG!!!! Is already a world colapse! And this means a IIIWW.
    Good luck to every one. Hope every one believes in God, Save your soul.

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  4. Sam Beckett says:

    What absurdity! I would really like for someone to explain to I. How, after tossing hundreds of billions if not over a trillion…does Greece still manage to keep finding themselves in a “financial crisis”!? One can only assume that those of which these bailouts are entrusted to, are buying $10,000 coffee makers, spending it on themselves and so on. I would greatly appreciate a real explanation on how this came to be, thank you.

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  5. Harold says:

    When Greece agreed to an agenda to acquire more money, they agreed, but did not implement! Their government did not reduce government employe numbers, did not reduce government salaries, did not, did not, did not etc. But they did put the squeeze on private enterprise! When you loan a bunch of crooks money, and again the same bunch of crooks, and again to a bunch of crooks, you get a crooked result. How many times does a snake have to bite you before you know it is dangerous? And, the European Union knew about Greece before they were admitted it was a high risk to begin with. Oh well, I guess a world currency and a one world sovereign union is on the way because it is the only way. Times of major changes are just around the corner

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  6. @davidgreybeard – China won’t jump in anywhere – they’ve got the biggest real estate bubble ever to tackle. And – what we in German actually call “the social scissors” – the gap between the rich and the poor has grown quite critically. Thus – the “Middle Kingdom” is facing a lot of trouble by itself.
    In Spain it was about 3 million empty flats – in relation to about 47.5 million Spaniards the quotient is about 15. In China the estimated numbers are around 70 million empty flats and around 1.34 million Chinese – the quotient is already at 19 !
    The result is – high inflation rates, hidden and obvious strikes of migrant workers – contractual struggles between suppliers from the West and Chinese contractors e vice versa – etc.
    And – serious struggles between Beijing and the provinces.
    Thus – the highest presence of US-troops in the Pacific since WW2 also serves for controlling, that Beijing doesn’t do any devaluation of its currency for regulation of price levels etc.
    Tough times, we’re living in.
    Best – sf

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  7. onthemark55 says:

    Greece declines, Roman Empire rises to power. Greece economic collapse, Holy Roman Empire reborn? Back to the future? How ironic.

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  8. Yet there all at the Olympics I find that pretty strange!!!

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    • onthemark55 says:

      Shows where the priorities are. If your not familiar with already, check out the child molestation scandal surrounding Penn State University and the football program. Keep in mind this could happen at any university because of the money involved. The economic collapse due to corrupt business practices and sacrificing our children to protect the religon of football are the two best examples, in my humble opinion, of todays morals. Any wonder America is declining when bankers recieved bonuses after destroying old/retired peoples life savings and people came in droves to honor and have their pictures taken with a statue of a man that protected and enabled a sexual predator of children, i’m not. In both instances, after “slap on the wrist” consequences, it’s business as usual. All my life i’ve played and enjoyed sports a “jock” as they say, for the first time i’m not paying much attention to the Olympic’s, and have lost interest overall for sports. Think i’ll take my grandson fishing.

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