Originally posted by johnnylongwoodyLater on, during his governments (1910-1915, 1917-1920, 1928-1032), Eleftherios Venizelos routinely relied on foreign borrowing. From 1923 to 1932 the successive loans increased its huge public debt and the balance of payments remained negative despite the government efforts.
There's a lot in what you say.
Unfortunately there are very few LEADERS around if any at all
in Europe today.
I have to say I myself was shocked when the idea was put foeward
that there should be a German representative stationed in Greece to
ensure that they were following the bailout plan.
Is it any wonder the Greek people had visions of 1943.
In 1929 emerged world economic crisis after the stock market crash in New York. The crisis has had direct consequences on the economy of Greece. The exports of tobacco, which was substituted for raisins main export product, decreased dramatically because of the German recession. In 1928 the country had reverted to the “gold standard” in order to attract foreign investment capital, but in 1932 the devaluation of the pound and the collapse of the global markets forced Greece to leave it. England, at the same time, by the International Audit and Financial Committee of the League of Nations, intervened in the Greek affairs in an attempt to secure the debt to British bankers. In order to sustain the “gold standard”, the drachma was pegged to the dollar. In September 1931, the panic triggered the deposits of 3,6 million dollars from Greek individuals to differ banks all around the dial! The government sought new loans without success. In March 1931, moreover, according to the rapporteur budget Finance Minister Professor Vervaressos, Greece owed abroad 2,8681 billion gold francs. The drachma had received tremendous pressures. The reserves had vanished. In the spring of 1932, Venizelos was forced to leave late in the “golden rule” and to devalue the drachma, and on April 18, 1932, while he was in Switzerland, he was forced to declare a default. On May Day of 1932 he announced in the Greek Parliament the bankruptcy of Greece and he stopped paying the external debt.
From 1932 to 1936, the political life in Greece was characterized by the presence of short-lived governments and military coups. The Return of King George in 1935 triggered the rise to power of Ioannis Metaxas, who established the dictatorship of August 4, 1936. Metaxas reiterated the repayment of foreign debt and received new unprofitable loans from England and Germany.
The final settlement of all prewar debts of Greece became, eventually, by Spyros Markezinis in the period 1952-1953. The final payment of those loans were completed in 1967.
😵
Originally posted by johnnylongwoodySince the end of WWII till today, the Greek governments had many big differences but one thing in common: they all support the model of “growth” of the economy to foreign borrowing. This is reflected in my country's current situation. The dependence of the mechanisms of the IMF and the European Union, namely the dependence on external factors, was typical in past governments. Combining unbridled lending valuable as a model of “growth” with a huge external debt factors and interventions from foreign countries into the economy by imposing reforms, caused inter alia social unrest and shrinking income and production base -and the worst is that this awful thing has happened several times in the past with tragic consequences.
There's a lot in what you say.
Unfortunately there are very few LEADERS around if any at all
in Europe today.
I have to say I myself was shocked when the idea was put foeward
that there should be a German representative stationed in Greece to
ensure that they were following the bailout plan.
Is it any wonder the Greek people had visions of 1943.
😵
Our beloved ancient friend Diogenes reminds me of the tales of the Sufi sage, Mullah Nasruddin--perhaps they were brothers:
A neighbor who Nasruddin didn't like very much came over to his compound one day. The neighbor asked Nasruddin if he could borrow his donkey. Nasruddin not wanting to lend his donkey to the neighbor he didn't like told him, "I would love to loan you my donkey but only yesterday my brother came from the next town to use it to carry his wheat to the mill to be grounded. The donkey sadly is not here."
The neighbor was disappointed. But he thanked Nasruddin and began to walk away.
Just as he got a few steps away, Mullah Nasruddin's donkey, which was in the back of his compound all the time, let out a big bray.
The neighbor turned to Nasruddin and said, "Mullah Sahib, I thought you told me that your donkey was not here.
Mullah Nasruddin turned to the neighbor and said, "My friend, who are you going to believe? Me or the donkey?
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And the following is one of my personal favorites:
One day Mullah Nasruddin lost his ring down in the basement of his house, where it was very dark. There being no chance of his finding it in that darkness, he went out on the street and started looking for it there. Somebody passing by stopped and enquire:
- What are you looking for, Mullah Nasruddin ? Have you lost something?
- Yes, I've lost my ring down in the basement.
- But Mullah Nasruddin , why don't you look for it down in the basement where you have lost it? asked the man in surprise.
- Don't be silly, man! How do you expect me to find anything in that darkness!
Originally posted by avalanchethecatScotland or Southern Ireland are the only two places
I came to this thread expecting whisky-talk, and I'm a bit disappointed. Although I did like the one about the donkey.
Anyway, I can't believe how good Penderyn is. It's Welsh, for goodness' sake!
for decent whiskey.
Or Whisky as the Scots spell it.
All Greece has is ouzo.
😉
Originally posted by johnnylongwoodyCan't agree with you there. Have you tried Penderyn? Or the Yamazaki? Or the English Whisky? They're all good! The Welsh one's excellent. Some of the American ones are worth more'n a glug too.
Scotland or Southern Ireland are the only two places
for decent whiskey.
Or Whisky as the Scots spell it.
All Greece has is ouzo.
😉
Originally posted by avalanchethecatI've never heard of Penderyn.
Can't agree with you there. Have you tried Penderyn? Or the Yamazaki? Or the English Whisky? They're all good! The Welsh one's excellent. Some of the American ones are worth more'n a glug too.
I know some American whiskeys can be strong and bourbon.
Tell me more about this Penderyn.
Originally posted by johnnylongwoodyThis is the one I'm currently necking:
I've never heard of Penderyn.
I know some American whiskeys can be strong and bourbon.
Tell me more about this Penderyn.
http://www.welsh-whisky.co.uk/Our-Whiskies/Madeira-Single-Malt.aspx
It's really quite superb. I will definitely buy again.