Greece

I'm pleased they have stuck too fingers up to the Germans. They were sold a pup many years ago. I like the Germans, in fact I'll be there on Thursday, but the Greeks will never be the like the Germans (efficient)

It was always going to happen (the breakup of the EU) now the weakest link has gone, who's next?

Don't know if the weakest link has gone. I expect they'll be scrabbling about for a solution somehow. I still don't know what to think. Old Angela is great. No nonsense there!

Whatever happens now I fear the poor Greek people are in for a bumpy ride.

I like Angela, but the two peoples are like Oranges and Apples. They should never have been 'invited' to join the EU. But their corrupt president at the time Papendraes (sp) wanted EU money to prop up his political base ( state workers)

Yes, I don't agree that they were 'sold a pup'.

Greece wanted to join thinking they'd be able to continue with their unorthodox tax-paying (?) system while enjoying all the benefits of belonging to the EU. Can't have it both ways.

After both wars 1914 and 1939 Greece was one of the countries which agreed that the massive German war debts be written off - I don't see any compassion or help them out feelings going the other way-in effect all of Europe paid for their war debts despite the suffering they were the instigators of. Seems a bit unfair really.

Did anyone understand what the referendum question actually was, given that the proposed bail-out and conditions had been withdrawn before the referendum took place. Was it just a no vote because people wanted to abandon the Euro, was it a rather odd vote of confidence for the Greek President or what?

I think the majority of the people just voted 'against austerity'.

I think the NO voters reckon they voted against austerity. They've won so...............

I am beginning to really dislike the word "austerity". I think they voted against the inhumanity of the bail out they were offered.

But what actually was it? Pay their taxes, not retire early compared to the rest of us? Cut coat according to cloth? I'd like to see the actual terms they were offered

There is a lot of nonsense talked about the Greek economy Jane10. I do think they needed more control over the payment of taxes but the other members of the Euro area knew this and covered up the issues. The Germans then proceeded to sell them a lot of armaments - did they really need these or was it rather more that Germany want to sell them. The German economy has benefited greatly by having Greece in the Euro. Without them their own economy would have been so strong that they would how found it very difficult to export.

Cutting your coat according to your cloth should not mean that cloth clothes skeletons. Surely people are more important, as is a society which is not set up for social breakdown. This is what the allies had learned from WW1 and it is what made them very careful about what they demanded in reparations from Germany after WW2. The Germans benefited from this. You would think this might be remembered.

I think they voted for democracy and the right to decide their own government without being dictated to by European bureaucrats and bankers.

Rather like the proposed UK referendum then, trisher?

As we are not part of the Euro, no, slightly different.

I also think that it is interesting that the question was posed so that the answer would be "no". "Ochi" is a word of great historical significance for the Greek people

Even if they leave the EU they still owe many many billions. How will that be repaid?

When a country, or person for that matter is in so much debt, options are very limited.
In my opinion, and I could be wrong, is that their situation will get worse not better.
They have said No to what they have, but I think it will now get worse.
It probably would get worse even if they said yes, but this is probably even worse.

If there is not something around the corner that was going to help the Greek economy in the following days or months to improve their bank balance, or if there was going to be more income from tax[I dont know if that situation is improving], then it is just piling debt on debt.

If they had debt relief, they would soon be back to where they are now, because the people dont want to change anything much of what they are already doing.

I have a question. Do countries with this large a debt get out of it? I have tried to google the question before, nad briefly had a look at a couple of books, but couldnt see the answer.

There was never going to be a good outcome. I think Greece will stay in the EU but lose the euro, go back to drachma.Probably the best outcome.

The money they owe will have to be written off.

Some economists are saying that their debt is really much less than is being said - it is the way the accounting has been done. I have heard this a couple of times on radio news and BBC World radio.

It was in 2006 that we in Britain finished paying off a debt to the US that helped us avoid bankrupcy after WW2.

It was the 'way the accounting was done' that gave them the go ahead to join the Euro.

They were never suitable to join the Euro in the first place.