ECB and Inflation

[The Brain]

Why not just pay their tab, then send them out the door?

I believe there is no legal mechanism for evicting a country from the eurozone or EU.

You can just do it. Swoosh.

[Duque de Bragança]

Why not just pay their tab, then send them out the door?

I believe there is no legal mechanism for evicting a country from the eurozone or EU.

A country leaving the EU is possible since the Treaty of Lisbon.

[Admiral Yi]

A country leaving the EU is possible since the Treaty of Lisbon.

Involuntarily?

[Duque de Bragança]

A country leaving the EU is possible since the Treaty of Lisbon.

Involuntarily?

Exit has to be negotiated in any case during a European Council but some rights of a country may be suspended, though I don't believe it applies to the current situation.
An ad hoc solution would be found should the need arise, as said in other words by The Brain.

[Razgovory]

Why not just pay their tab, then send them out the door?

because they'll just run up another tab and come begging again. It something people generally don't appreciate.

So what?  It won't be your problem, they won't be in the Eurozone.  They can beg all the like, since you are not in a union with them, what does it matter to you?   It's not a crisis if some third party messes up their finances only in a Eurozone member does.

[Iormlund]

A country leaving the EU is possible since the Treaty of Lisbon.

Involuntarily?

No. Though the ECB has the tools to force an exit.

[Crazy_Ivan80]

Why not just pay their tab, then send them out the door?

because they'll just run up another tab and come begging again. It something people generally don't appreciate.

So what?  It won't be your problem, they won't be in the Eurozone.  They can beg all the like, since you are not in a union with them, what does it matter to you?   It's not a crisis if some third party messes up their finances only in a Eurozone member does.

then why bother paying their tab before removing them from the eurozone. the money is gone until it isn't.

[Zanza]

No. Though the ECB has the tools to force an exit.

And they probably just did. They decided not to increase the emergency lending assistance program for Greek banks. With the currently ongoing bank run in Greece, it is only a matter of time until the first bank becomes illiquid.

And the Greek government is almost certain to default on its IMF loan on Tuesday.

[Iormlund]

Yep. As a response, Greece institutes capital controls, closes banks.

[Admiral Yi]

Isn't Shelf nibbling on feta cheese and olives right now?

[Monoriu]

I don't understand.  What exactly are the Greeks voting on?  To accept cuts in exchange for money?  I thought the money is already due before the plebiscite takes place.   Assume that they vote "yes, we are willing to cut our pensions and sell the Acropolis so that we won't default".  IMF: "well, you had already defaulted 5 days ago."

[MadImmortalMan]

I don't understand.  What exactly are the Greeks voting on?  To accept cuts in exchange for money?  I thought the money is already due before the plebiscite takes place.   Assume that they vote "yes, we are willing to cut our pensions and sell the Acropolis so that we won't default".  IMF: "well, you had already defaulted 5 days ago."

Once the suffering starts, Tspiras will have the cover of saying he did what the public wanted.

[Martinus]

I don't understand.  What exactly are the Greeks voting on?  To accept cuts in exchange for money?  I thought the money is already due before the plebiscite takes place.   Assume that they vote "yes, we are willing to cut our pensions and sell the Acropolis so that we won't default".  IMF: "well, you had already defaulted 5 days ago."

Mono as always does not get politics. Film at 11.

If you owe someone 1 million Euro it's your problem. If you owe someone 323 billion Euro it's their problem. Tsirpas is probably playing right now on an extension of the loan until after the referendum results - I would be surprised if he does not get it.

It's funny how we went through this pantomime already back in February and nothing really changed.

[PJL]

I don't understand.  What exactly are the Greeks voting on?  To accept cuts in exchange for money?  I thought the money is already due before the plebiscite takes place.   Assume that they vote "yes, we are willing to cut our pensions and sell the Acropolis so that we won't default".  IMF: "well, you had already defaulted 5 days ago."

Mono as always does not get politics. Film at 11.

If you owe someone 1 million Euro it's your problem. If you owe someone 323 billion Euro it's their problem. Tsirpas is probably playing right now on an extension of the loan until after the referendum results - I would be surprised if he does not get it.

It's funny how we went through this pantomime already back in February and nothing really changed.

This is different. The markets are in turmoil at the moment, this didn't happen in February. Also Greece has issued capital controls as well. With the troika playing hardball, and refusing even minor extensions to the deadline, it means Greece will default on Wednesday. That much is certain.

[Razgovory]

Why not just pay their tab, then send them out the door?

because they'll just run up another tab and come begging again. It something people generally don't appreciate.

So what?  It won't be your problem, they won't be in the Eurozone.  They can beg all the like, since you are not in a union with them, what does it matter to you?   It's not a crisis if some third party messes up their finances only in a Eurozone member does.

then why bother paying their tab before removing them from the eurozone. the money is gone until it isn't.

To prevent this catastrophe that everyone is predicting?  But hey, you seem guys seem so goddamn eager to cut off your own nose to spite your face, don't let good sense stop you.  I remember when you Euros were so goddamn smug with your European Union 10 years ago, I don't mind you continuing to destroy yourselves.