Melech 9,900 Posted February 1, 2015 Share Posted February 1, 2015 ATHENS, Greece (AP)  Greece and its European bailout creditors were in open dispute Friday, with Germany bluntly rejecting suggestions the heavily-indebted country should be forgiven part of its rescue loans and warning against "blackmail" from Athens. Greece's five-day-old radical left government insists it will honor pre-election promises to seek a cut on most of the country's rescue debt and scrap painful budget measures that were demanded in exchange for the loans. German Finance Minister Wolfgang Schaeuble, however, warned Athens against strong-arm negotiating tactics in its effort to win debt relief. Rules need to be kept, and trust and reliability were the basis for further solidarity, the dpa news agency reported him saying. "There's no arguing with us about this, and what's more we are difficult to blackmail," Schaeuble was quoted saying in Berlin. "We are prepared to offer all cooperation and solidarity," he said, but only if Greece abides by its agreements, under which it received 240 billion euros ($270 billion) in rescue loans. Without the loans from its fellow eurozone countries and the International Monetary Fund, Greece would struggle to service its debts and avoid bankruptcy. View galleryThe shadow of Eurogroup chairman Jeroen Dijsselbloem … The shadow of Eurogroup chairman Jeroen Dijsselbloem is cast on a wall as Greek Prime Minister Alexi … "The discussion about a debt cut or a debt conference is divorced from reality," Martin Jaeger, a German finance ministry spokesman, said in Berlin earlier. Greece's Parliamentary Budget Office, which makes quarterly recommendations to lawmakers, warned that the country faces default unless a deal with creditors is reached soon. Greece's next government debt obligations are due in March. Shares on the Athens Stock Exchange closed down 1.6 percent Friday, capping total losses of 13 percent for the week, while the interest rate on three-year bonds  a gauge of short term risk of default  rocketed to 19.3 percent. In Athens, Jeroen Dijsselbloem, the Dutchman who chairs eurozone finance ministers' meetings, met with top officials to sound out the new government. Dijsselbloem acknowledged Greeks have gone through much in recent years to reform their economy, and warned that rash actions by the government would not help. View galleryGreece's Finance Minister Yanis Varoufakis, right, … Greece's Finance Minister Yanis Varoufakis, right, looks on as Dutch Finance Minister and Eurogr … "Taking unilateral steps or ignoring previous agreements is not the way forward," he told reporters in statements after his meeting with Finance Minister Yanis Varoufakis. Prime Minister Alexis Tsipras' government, voted in last Sunday, has already said it will cancel several planned privatization projects and considerably scale down planned budget surpluses required to pay down Greece's massive national debt. Tsipras will launch a small tour of other eurozone countries next week, flying to Cyprus, Italy and France on Monday, Tuesday and Wednesday, respectively. Greece's bailout, which began in May 2010, runs out on Feb. 28 after an initial two-month extension was granted for completion of frozen negotiations with the so-called "troika"  the European Commission, European Central Bank and IMF. Greece and the troika hold talks regularly to make sure Athens keeps up its reforms and qualifies for the next installment of loans. Because the latest talks have yet to be concluded, Greece still has to receive the last, 7.2 billion-euro batch of its loans from the eurozone. View galleryDutch Finance Minister and Eurogroup President Jeroen … Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem, left, followed by Greece's F … Dijsselbloem said the eurozone countries would decide before Feb. 28 what to do about financing Greece. He also rejected Greece's request to hold a conference to discuss restructuring its debt, saying the eurozone's monthly finance meetings would serve the purpose. But Greek State Minister Nikos Pappas said Athens is no longer bound by the deadline. "I think you will see in coming days that that deadline does not exist," he told private Mega TV, adding that Greece is aiming for "a political framework to reach a solution." Varoufakis, for his part, said Greece was not asking for an extension of the existing bailout, as the government disputed the very wisdom of the program in the first place. "Our intention is to - with an absolute will to cooperate - to persuade our partners ... that our common interest in Europe is served best by a new agreement that will emerge following talks between all Europeans," he said. View galleryDutch Finance Minister and Eurogroup President Jeroen … Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem, left, accompanied by Greece' … He said the new government would not be talking to the bailout negotiators from the troika. Instead, the minister said, the government would cooperate with the "legitimate institutions of the European Union and the International Monetary Fund." The new government has indicated that it is not interested in receiving the last 7.2 billion-euro loan installment from its European partners, and will instead focus on debt forgiveness. Credit ratings agency Fitch said Friday that, in the short term, both sides have a "strong incentive" to reach an agreement to make sure Greece gets the rescue money from the bailout programs. It warned, however, that drawn-out negotiations pose a "high risk" to the country's fragile economy. http://news.yahoo.com/fitch-greece-deal-possible-risks-110822445.html Yeah, Greece better don't mess with us or it will go bankrupt Link to post Share on other sites More sharing options...
i medici 1,746 Posted February 1, 2015 Share Posted February 1, 2015 they better pay back the money Link to post Share on other sites More sharing options...
Azor Ahai 18,861 Posted February 1, 2015 Share Posted February 1, 2015 And we'll drag Europe with us. Link to post Share on other sites More sharing options...
Melech 9,900 Posted February 1, 2015 Author Share Posted February 1, 2015 And we'll drag Europe with us. If you mean Greece, the only countries you could drag with you is Spain and maybe Italy. The most northern and eastern countries are on Germanys side. Link to post Share on other sites More sharing options...
faux 2,190 Posted February 1, 2015 Share Posted February 1, 2015 Greece is acting like that one annoying b---hy person that didn't get a personal invite to a party Link to post Share on other sites More sharing options...
Ursula Buffay 73 Posted February 1, 2015 Share Posted February 1, 2015 And we'll drag Europe with us. DRAG HA! MICROWAVE HA! SHRED HA! Link to post Share on other sites More sharing options...
Luc 4,776 Posted February 1, 2015 Share Posted February 1, 2015 How easy life would be if the person in debt could just decide to not give back money they loaned instead of the person who lended the money I'd say let the ECB (or another group, not the european parliament tho) be Greece's government for a few years. That'd save their and our asses. Undemocratic and against the EU's laws, probably. But what Greece wants also is. Link to post Share on other sites More sharing options...
Melech 9,900 Posted February 1, 2015 Author Share Posted February 1, 2015 How easy life would be if the person in debt could just decide to not give back money they loaned instead of the person who lended the money I'd say let the ECB (or another group, not the european parliament tho) be Greece's government for a few years. That'd save their and our asses. Undemocratic and against the EU's laws, probably. But what Greece wants also is. What would happen though if Greece doesn't decide to give the money back? I mean you can't force them or can you? :Air: Link to post Share on other sites More sharing options...
Foivos 64 Posted February 1, 2015 Share Posted February 1, 2015 they better pay back the money Then Germany better pay back every single penny from the war r eparations too. Link to post Share on other sites More sharing options...
Luc 4,776 Posted February 1, 2015 Share Posted February 1, 2015 What would happen though if Greece doesn't decide to give the money back? I mean you can't force them or can you? :Air: Then they'll have to leave the Eurozone and might also become bankrupt. If you can't pay back monry you loaned you're bankrupt. If they leave the Eurozone (for the better, their culture of corruption and overspending doesn't fit with ours) they could devalue their currency but they could also get into hyper inflation. Their only way oit is basically going on with the cuts. Their debt to gdp can be lowered by a bigger gdp, which was already happening. They might be able to get lower interest rates and payback date pushbacks, but the Eurozone countries sure as hell won't let Greece do what they want to do right now. Link to post Share on other sites More sharing options...
Foivos 64 Posted February 1, 2015 Share Posted February 1, 2015 Greece is acting like that one annoying b---hy person that didn't get a personal invite to a party You better talk with more respect when referring to the country that taught you what civilization is . Link to post Share on other sites More sharing options...
Ursula Buffay 73 Posted February 1, 2015 Share Posted February 1, 2015 What would happen though if Greece doesn't decide to give the money back? I mean you can't force them or can you? :air: No, at that level, money isn't actually taken from, say other countries in the EU zone and given to Greece, the ECB "buys" the debt. Greece is actually broke right now, BROKE, they have no penny to give away, they borrowed 140B$ which became 240B$ over years with the bank interest that was imposed on Greece. Do you expect a broke country to give 240B$? Where from? Greece can actually decide to leave the EU zone, the ECB will keep adding interests to that gigantic amount of money with no hope at getting refund, this way the EU zone will be in danger. Because imaginarily they think they will have those 240B$ one day, which won't happen. You guys are being harder on Greece than ISIS, get to know who your enemies are tbh Link to post Share on other sites More sharing options...
Luc 4,776 Posted February 1, 2015 Share Posted February 1, 2015 Then Germany better pay back every single penny from the war r eparations too. http://www.forbes.com/sites/timworstall/2012/09/12/does-germany-really-owe-greece-a-etrillion-in-war-reparations-probably-not-no/ You better talk with more respect when referring to the country that taught you what civilization is . You're actimg like a Britney stan :skull: pulling over 70 year old receipts. Link to post Share on other sites More sharing options...
LaMaisonGaga 23,884 Posted February 1, 2015 Share Posted February 1, 2015 Slè Germany :lmao: lamaisongaga.com Link to post Share on other sites More sharing options...
Melech 9,900 Posted February 1, 2015 Author Share Posted February 1, 2015 You better talk with more respect when referring to the country that taught you what civilization is . Greece did that thousands of years ago, today greeks have nothing to do with it. Link to post Share on other sites More sharing options...
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