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[Frumple]

No, no, removing EU would be coming to an agreement, and presumably most everyone with access to grecian TV now has a vested interesting in making sure that never happens :V

[RedKing]

I dunno...what caliber of porn *is* Greek porn?

[mainiac]

Insanity: doing the same thing over and over again and expecting different results.

So after 7 years of the most disaterous economic policy this side of Maoism, Europe is going with another three years.

[Sergarr]

[Communism [Austerity intensifies]

[MarcAFK]

Insanity: doing the same thing over and over again and expecting different results.

So after 7 years of the most disaterous economic policy this side of Maoism, Europe is going with another three years.

You see Ivan, when you five year plan, economy gets more greatness.

[martinuzz]

I dunno...what caliber of porn *is* Greek porn?

IIRC, "Greek Porn" would refer to ass-fuck.

Which describes pretty well what the EU is doing to the Greek people

[Loud Whispers]

I dunno...what caliber of porn *is* Greek porn?

greek style yoghurt

Insanity: doing the same thing over and over again and expecting different results.

So after 7 years of the most disaterous economic policy this side of Maoism, Europe is going with another three years.

You see Ivan, when you five year plan, economy gets more greatness.

All about holding the line; either they break of Greece gets broke.

[NJW2000]

Apparently german exports to Greece have massively gone up after the bailout recently. Can't really work out what this means, anyone able to explain?

[smjjames]

Apparently german exports to Greece have massively gone up after the bailout recently. Can't really work out what this means, anyone able to explain?

Is it specific exports or is it just exports as a whole?

[NJW2000]

I think as a whole. Just don't see why this would happen.

[Loud Whispers]

I think as a whole. Just don't see why this would happen.

Greeks want to convert their cash into material assets because material assets have innate usefulness and value and are a lot safer to keep than money

[NJW2000]

Ah, thanks. Thought it was a sneaky German thing for some reason

[mainiac]

Apparently german exports to Greece have massively gone up after the bailout recently. Can't really work out what this means, anyone able to explain?

Complicated question, first you have to understand the Greek import-export balance.
Greece is a small economy so trades with the rest of the world for economies of scale.  A lot of this stuff can't be replaced quickly, if you need metal fittings for a furniture business you can't afford to wait until supply and demand create a domestic supplier for you and start buying at the higher price the domestic supplier wants.  This requires cash come from somewhere else to pay for those.  In addition to paying for imports, austerity means immediate payback of capital which from a money standpoint can be thought as an additional "import" (money flowing out) to balance out the "export" of debt certificates before the crisis.  This isn't just government debt getting paid off, the Troika made sure that nearly every private investor investing in Greece got paid almost 100 cents on the Euro.  All the private investors now want to leave Greece.  And the Greek economy is supposed to find the money to replace that private money as well.

However a broad range of factors have made it impossible for Greek exports to rise very much. http://www.tradingeconomics.com/charts/greece-exports.png?s=gktbexe&d1=20100101&d2=20151231&URL2=/greece/imports&title=false

Basically Europe says to Greece "export more you lazy bums but dont export to us."  So something's got to give and that something is imports.  If the crisis becomes bad enough in Greece then the Greek people cut back on spending enough to destroy the Greek import sector.  If you lose your job, you use less gasoline (domestic) which means refining (domestic) uses less imported crude.  Get evicted from your apartment and your apartment needs fewer light bulbs and wont get the air conditioning fixed with imported parts.

Each time a deal is struck, Greece is allowed to "export" a tiny amount of debt certificates again.  Each time a deal isn't struck, Greece is being required to buy back a small amount of debt certificates, another "import".  So the deals affect the amount of money in the Greek economy dramatically, especially around the time of the debt.  The shift might be 20 billion euros in a year but the month of the deal might be eight of those billions.

[NJW2000]

Thanks, this explains whats going on for me. Great!

[mainiac]

Normally in economics the statement "Money is just a social construct" isn't too useful but Greece is the 1% of the time that it is.  Money is just a tracking mechanism for keeping track of the imports/exports that are needed to balance out past imports/exports.  If that balance is taking place when it's very hard, money starts getting screwy because money is just a look at how hard that is.