GOLD 0.06% $1,227.0 gold futures

Its all Greek to me

  1. 2,055 Posts.
    Fascinating things happen in Greece. I remember when I was invited to set a new company in Greece (its a long story but i will be brief). Sat round a table with my to be Greek colleagues, and I asked one of them what his contribution to the company would be. "I will ensure you never pay taxes in Greece" was the reply.

    I was somewhat shocked, but I quickly realized he was not joking. The company was going to search for gold, up in Macedonia way and to the east. Had a great interest in gold. I learnt quite a few things. But I would not be betting on a certain country paying its debts....Good luck. Interesting to see the stance of the new govt below...

    Greece's new left-wing finance minister says his government will not negotiate over the Greek bailout conditions with the "troika" team from the EU and IMF.
    Yanis Varoufakis said he was rather seeking direct talks with eurozone leaders, to try to cancel more than half the money Greece owes.
    He was speaking after meeting Jeroen Dijsselbloem, head of the Eurogroup - the eurozone finance ministers.

    Mr Dijsselbloem said Greece should stick to its reform commitments.
    He said Greece and the Eurogroup had a "mutual interest in the further recovery of the Greek economy inside the eurozone" and warned against Athens acting unilaterally in its efforts to renegotiate its bailout.

    Greece has endured tough budget cuts in return for its €240bn (£179bn; $270bn) bailout, agreed in 2010 with the "troika" - the European Commission, International Monetary Fund (IMF) and European Central Bank (ECB).

    The BBC's Mark Lowen in Athens says there was little warmth between the two men at the news conference, with Mr Dijsselbloem making a brusque exit.
    Breaking with tradition, Mr Varoufakis wore an open-neck shirt - hanging loose at his belt. Mr Dijsselbloem was dressed conventionally.
    On the troika, Mr Varoufakis said "we have no intention of co-operating with a three-member committee whose goal is to implement a programme whose logic we consider anti-European".

    GOOD LUCK to the Troika. Genuinely hard to get blood out of a stone.
 
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