A little old but .. What happens 'When' Greece defaults?

by Hellsangel Mon Jul 11, 2011 1:48 pm

http://www.cnbc.com/id/43266851/What_Happens_When_Greece_Defaults

by charvaka Mon Jul 11, 2011 1:53 pm

It's interesting to talk to Turkish people about the inevitable Greek default. For generations, they have been poorer and growing more slowly than the former subjects of their empire. Greece -- and even the Greek portion of Cyprus -- joined the EU while Turkey has to wait. Now I detect certain schadenfreude among Turks regarding these developments.

by Propagandhi711 Mon Jul 11, 2011 3:12 pm

here's an interesting article from der speigel on what happened in greece

http://www.spiegel.de/international/europe/0,1518,druck-772176,00.html

by truthbetold Mon Jul 11, 2011 9:53 pm

Turks see an opportunity to impress EU. They are also playing a positive role in Arab democracy struggles.

by truthbetold Mon Jul 11, 2011 10:04 pm

Todays news speaks of italy joining the troubled EU states. NPR says it has debt of 120% its GDP. This debt may finally break Berlusconi's grip PM's chair.

by Kris Mon Jul 11, 2011 10:22 pm

truthbetold wrote:Turks see an opportunity to impress EU. They are also playing a positive role in Arab democracy struggles.

>>>> I think the Turks are getting weary of this whole EU thing, the way things are going. This is going to be a back burner issue for them. When things were going swimmingly, EU kept shifting the goalpost on Turkey in terms of what it had to do to become a member of the community. Now we are seeing EU having its own issues, Italy being the latest.

by truthbetold Mon Jul 11, 2011 10:44 pm

EU did play dirty with turks. Then came 9/11 and public got behind such dirty tactics. EU or something else, Turks are playing for future and doing it well.

by charvaka Tue Jul 12, 2011 12:06 am

Kris wrote:
truthbetold wrote:Turks see an opportunity to impress EU. They are also playing a positive role in Arab democracy struggles.

>>>> I think the Turks are getting weary of this whole EU thing, the way things are going. This is going to be a back burner issue for them. When things were going swimmingly, EU kept shifting the goalpost on Turkey in terms of what it had to do to become a member of the community. Now we are seeing EU having its own issues, Italy being the latest.

Yeah, EU membership isn't all it's made out to be any more for the Turks. It still means access to the largest common market in the world, but that market ain't looking very good right now compared to MENA that they are going after.

by Silhouette Tue Jul 12, 2011 12:27 am

charvaka wrote:
Kris wrote:
truthbetold wrote:Turks see an opportunity to impress EU. They are also playing a positive role in Arab democracy struggles.

>>>> I think the Turks are getting weary of this whole EU thing, the way things are going. This is going to be a back burner issue for them. When things were going swimmingly, EU kept shifting the goalpost on Turkey in terms of what it had to do to become a member of the community. Now we are seeing EU having its own issues, Italy being the latest.
Yeah, EU membership isn't all it's made out to be any more for the Turks. It still means access to the largest common market in the world, but that market ain't looking very good right now compared to MENA that they are going after.

But, with reference to Turkey, its EU membership was never limited to economics. Cultural and immigration issues were always the major consideration. And the politicians and the public quite clear about these concerns and their resulting disapproval to let Turkey join the union. In spite of their setbacks, I doubt members states would be so quick to forego their prior reservations.

by charvaka Tue Jul 12, 2011 12:40 am

Silhouette wrote:Cultural and immigration issues were always the major consideration. And the politicians and the public quite clear about these concerns and their resulting disapproval to let Turkey join the union.

Not officially though... technically Turkey is still in the process.

Silhouette wrote:In spite of their setbacks, I doubt members states would be so quick to forego their prior reservations.

You are right about that... their own economic woes make it much less -- not more -- likely that France and Germany will say yes to Turkey now.

by Marathadi-Saamiyaar Tue Jul 12, 2011 12:46 am

Hellsangel wrote:http://www.cnbc.com/id/43266851/What_Happens_When_Greece_Defaults

Basically former East-West Europe is splitting, this time horizontally into a North-South divide. The white, technologically superior, thinly populated northern Caucasian countries and the not-so-white, technologically bankrupt, more densely populated, screaming-cultured Mediterranean countries.

Expect Greece, Spain, Portugal, Italy to bankrupt - it is only a matter of time.

by Another Brick Tue Jul 12, 2011 12:53 am

the other day i heard that the unemployment rate in the US has reached 9.X%. wasn't that months after lehman went under? wasn't that recession? if so, how is the economic situation any better now?

i think i should finally pay attention to dev c chatterji's advice and pull out and then put my funds in bank of maharashtra or post office scheme earning a steady interest of 8-9%.

by Kris Tue Jul 12, 2011 1:08 am

Silhouette wrote:
charvaka wrote:
Kris wrote:
truthbetold wrote:Turks see an opportunity to impress EU. They are also playing a positive role in Arab democracy struggles.

>>>> I think the Turks are getting weary of this whole EU thing, the way things are going. This is going to be a back burner issue for them. When things were going swimmingly, EU kept shifting the goalpost on Turkey in terms of what it had to do to become a member of the community. Now we are seeing EU having its own issues, Italy being the latest.
Yeah, EU membership isn't all it's made out to be any more for the Turks. It still means access to the largest common market in the world, but that market ain't looking very good right now compared to MENA that they are going after.

But, with reference to Turkey, its EU membership was never limited to economics. Cultural and immigration issues were always the major consideration. And the politicians and the public quite clear about these concerns and their resulting disapproval to let Turkey join the union. In spite of their setbacks, I doubt members states would be so quick to forego their prior reservations.

>>>>> The Turkey thing was always about culture primarily, IMO. Turkey has had to walk a fine line trying to keep the creeping islamic fundamentalism at bay, while at the same time being a "european" country in terms of individual rights. In all honesty, they are getting the message they should be careful what they wish for in terms of the EU membership.

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