Greece... is it gonna happen?

[Lucavia123]

It it going to happen? Is Greece going to default? Will they leave the European Union? And if so what affect will it have globally?

I'd love to hear all the opinions and theories.

[mimo_100]

Another good example of why a liberal socialist government will never be able to compete long-term with an economic system like we have. If you only work 32 hours a week, take 6 weeks vacation, and depend upon government payments to live, the inevitable happens. In a capitalist system, the weak eliminate themselves, go bankrupt, and find some other means of subsistence. I hope they go bankrupt and learn that nothing comes for free.

[riverbabe]

I saw some street interviews with Greeks on a news program. They said they don't pay their (income) taxes. Why should they when they know their neighbors aren't paying their taxes either? The Greek government has an almost non-existent system for enforcing tax collection. No wonder they're in this financial position. I'm guessing there will be a default. I doubt Russia is in any position to help them financially, just wants to show unity with the Orthodox church and thumb noses at Europe. I also think the EU has been much too lenient so far. Many people in the know (that's not me) are of the opinion it won't matter if Greece leaves the EU. Global effect? Don't have a clue.

[blindsquirrel]

I've read opinions that say it will cause a cash crunch globally that could trigger bigger problems. I personally don't see the point of preventing a failing system from failing. If you want an EU with good, self-sustaining governments, then why prop up this financial mess?

[Lucavia123]

Once again Greece is the main story today and futures are looking way down. It is amazing how a country so small with so little to contribute to the overall EU economy can have such a huge impact on the markets of the world. But it seems the Greek news will remain a hot topic at least until the Sunday referendum is complete and we get some finality to this situation.

[jiesen]

Once again Greece is the main story today and futures are looking way down. It is amazing how a country so small with so little to contribute to the overall EU economy can have such a huge impact on the markets of the world. But it seems the Greek news will remain a hot topic at least until the Sunday referendum is complete and we get some finality to this situation.

Greece is a canary in a coal mine. Sure, it's small... but its demise will most definitely be noticed, and have repercussions on the stability of the economic system in the EU.

[Lucavia123]

Well if we get another shellacking like today tomorrow I'll have to pull some positions. Alot of profit disappeared today.

[jiesen]

I'm glad that no profits were lost by me yesterday, since I didn't pull anything out. I'm up a good 2-3% today on about 6 of my top 8 positions, which include:

AHS
NTES
QLYS
LCI
ICLR
ASX

Was that blip the extent of the Grexit impact? If so, then no big deal, I say... carry on!

[Lucavia123]

I'm glad that no profits were lost by me yesterday, since I didn't pull anything out. I'm up a good 2-3% today on about 6 of my top 8 positions, which include:

AHS
NTES
QLYS
LCI
ICLR
ASX

Was that blip the extent of the Grexit impact? If so, then no big deal, I say... carry on!

I doubt that that was the extent of the Greece impact. If they pull out of the EU I expect to see double the down day in the markets.

I didn't lose nay profits yesterday since I did not sell but its hard watching green turn to red.

[Lucavia123]

Polls indicate it is too close to call on the referendum.

[Louetta]

61% no they say.

[Lucavia123]

61% no they say.

Futures are down 220 points. Tomorrow is going to be very rough.