General Discussion

polly7

(20,582 posts)

45. Has anyone heard anything else wrt to Greece possibly joining the BRICS Development Bank?

Wed Jun 17, 2015, 09:16 PM

Jun 2015

Last edited Sat Jun 20, 2015, 06:43 PM - Edit history (1)

http://www.democraticunderground.com/1016122248#post2

Mr_Jefferson_24 (8,160 posts)
2. Hopefully this is a bit...

...of good news:

The Greek prime minister was invited to join the BRICS after a phone call conversation with Russian Finance Vice-minister Serguéi Storchak, RT reported.

Tsipras has shown interest in the proposal and will join the BRICS countries in June at the forum in St. Petersburg to discuss the possibility.

If Greece agrees to join the new Development Bank, the country would become its sixth member alongside Brazil, Russia, India, China and South Africa.

The BRICS Development Bank is a new initiative that will help BRICS member states lessen their dependence on the IMF.

Source: http://www.telesurtv.net/english/news/Greece-Invited-to-Join-New-BRICS-Development-Bank-20150512-0039.html

Also, this:

Putin meets with Tsipras, says Russian pipeline project should help Greece pay its debt

Associated Press June 19, 2015 | 8:02 p.m. EDT + More

By SANDY MACINTYRE and NATALIYA VASILYEVA, Associated Press

http://www.usnews.com/news/business/articles/2015/06/19/greece-signs-deal-with-russia-to-build-gas-pipeline?page=2

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110 replies

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Highlight:

Greece says: All Debt To The Troika "Illegal, Illegitimate, And Odious" [View all] dixiegrrrrl Jun 2015 OP

I'm curious to know how they intend to support themselves now that they are broadcasting Nuclear Unicorn Jun 2015 #1

They haven't a clue, do they? Sink their nation in debt and then whine about it. randome Jun 2015 #14

You seem to be pleased about this. BeanMusical Jun 2015 #29

You are wrong. randome Jun 2015 #59

You haven't been paying attention, have you? The Train Wreck was caused by the Global Crooks who sabrina 1 Jun 2015 #64

See my Post #61 below. Yes, Wall Street had a hand in Greece's downfall. So did Greece. randome Jun 2015 #66

Well...not every nation... Xolodno Jun 2015 #68

"etc." BeanMusical Jun 2015 #91

I point out reality... Xolodno Jun 2015 #108

Chavez paid off Ven's debt and the West never forgave him either. sabrina 1 Jun 2015 #105

Why do I always agree with you? BeanMusical Jun 2015 #92

Lol! I don't know, but I'm glad you do, which means I must always agree with you! sabrina 1 Jun 2015 #106

How many average Grecians Dyedinthewoolliberal Jun 2015 #87

Does it matter? If the government screwed them over, no one pays? randome Jun 2015 #93

Iceland managed well & thrived. They threw the banksters out for starters. nt mother earth Jun 2015 #42

A population of 333k? Bad comparison Telcontar Jun 2015 #51

No matter. Greece is in good hands with Syriza. While they have tried to remain in the EU, and mother earth Jun 2015 #55

Their sovereign debt was 28% of GDP. Greece's debt is 175% of GDP hack89 Jun 2015 #97

Like I said, they are being forced into this & this is going to have repercussions, for all the mother earth Jun 2015 #98

The Greeks are fucked regardless of what they do hack89 Jun 2015 #99

No, the spending was to keep up with the debt brought about by oligarch interests buying corruption mother earth Jun 2015 #100

Time will tell. nt hack89 Jun 2015 #101

Maybe they can start prosecuting the Global thieves who stole their assets, hid them in sabrina 1 Jun 2015 #63

If you like international bodies to govern economic matters you'll just love the TPP. Nuclear Unicorn Jun 2015 #67

I like sovereign nations handling their own economic affairs. Unfortunately in this New World Order sabrina 1 Jun 2015 #74

if they're willing to swear off borrowing money from outside sources, geek tragedy Jun 2015 #2

So they won't be borrowing any more from them then? n/t PoliticAverse Jun 2015 #3

Did you spend the money? whatthehey Jun 2015 #4

ah but WHO spent the money? Man from Pickens Jun 2015 #5

That sounds an awful lot like the US national debt. n/t PowerToThePeople Jun 2015 #6

Bingo!!!!!!!!! n/t dixiegrrrrl Jun 2015 #11

Exactly. truebluegreen Jun 2015 #30

+17 Trillion nationalize the fed Jun 2015 #32

Bravo, and it is about time. Predatory capitalism at its best, the borrowing was to keep paying on mother earth Jun 2015 #7

Great post! nt. polly7 Jun 2015 #10

+1. grntuscarora Jun 2015 #12

Syriza is nothing but a collection of loud-mouthed crooks. Nuclear Unicorn Jun 2015 #16

Because workers' savings make up such a huge percentage of bank deposits. KamaAina Jun 2015 #22

What do you think the depositors of those banks will do if they believe their banks Nuclear Unicorn Jun 2015 #23

You simply have not been following what's been taking place, nor do you have an understanding of mother earth Jun 2015 #40

Tiny problem with your analysis MFrohike Jun 2015 #102

+1000. nt. polly7 Jun 2015 #109

I stand in solidarity with the people of Greece who say this must end. passiveporcupine Jun 2015 #20

+a zillion Thank you. nt truebluegreen Jun 2015 #34

Right on, brother Jack Rabbit Jun 2015 #8

"US College grads should make a similar declaration. And US homeowners." Nuclear Unicorn Jun 2015 #17

Haven't been following Elizabeth Warren much? nt mother earth Jun 2015 #41

The lending institutions should be reorganized Jack Rabbit Jun 2015 #48

None of that changes the fact that if there is a massive default then there will be no future loans Nuclear Unicorn Jun 2015 #52

I believe that I am at fault for miscommunicating Jack Rabbit Jun 2015 #90

Why is it necessary for everyone to be borrowing money? Who set up this system in the first sabrina 1 Jun 2015 #107

Well for one thing, education should be free for everyone arikara Jun 2015 #83

About the "free for everyone" deal FrodosPet Jun 2015 #103

People still have to live arikara Jun 2015 #104

:) Love that pic, Jack, and the attitude. mother earth Jun 2015 #43

Greece the birthplace of democracy says a big FU to fascist global bank. Dont call me Shirley Jun 2015 #9

Awesome maindawg Jun 2015 #13

Interest on debt is banned by some countries and outlawed by some nations for a reason. Fred Sanders Jun 2015 #15

"Interest charges in Islam are banned because it is considered usury" Nuclear Unicorn Jun 2015 #18

Only to other Hebrews. sulphurdunn Jun 2015 #38

I've often wondered what type of bonuses and commission lenders earned... trumad Jun 2015 #19

Yeah. Some guy behind a desk leaned on an entire soverign nation. Nuclear Unicorn Jun 2015 #24

You don't think that happens? trumad Jun 2015 #25

No, I don't think an entire sovereign can be hoodwinked by a bank. Nuclear Unicorn Jun 2015 #26

Do you know anything about this situation? truebluegreen Jun 2015 #36

No one put a gun to gun to Greece's head, they voluntarily took out loans. Dick Dastardly Jun 2015 #89

Did you somehow miss our bailout of the banks and corporations????? n/t dixiegrrrrl Jun 2015 #53

No, I didn't forget. In fact, it's why I write what I write. Nuclear Unicorn Jun 2015 #54

Debt is debt though and if they borrowed money shouldnt they pay it back???? cstanleytech Jun 2015 #21

The question is, who is the "they?" truebluegreen Jun 2015 #39

Except the elites wont get burn it will the rest of who will take the fall for it like we did for cstanleytech Jun 2015 #47

Yup. And that is exactly what they are doing to Greece, truebluegreen Jun 2015 #49

I thought that the main problem was the interest payments they were having to make cstanleytech Jun 2015 #50

It is the main problem now, but the basis of the problem was the original loans truebluegreen Jun 2015 #69

I would want to see a breakdown of the numbers for that list because other than the interest rate cstanleytech Jun 2015 #77

That is the point: a corrupt government truebluegreen Jun 2015 #78

So because allegations that the government was corrupt the people who loaned the money should cstanleytech Jun 2015 #80

They should have no responsibility for making loans they knew couldn't be paid back, truebluegreen Jun 2015 #81

Chill, I am not "for" anyone I just dont think its ok to expect people who made loan on good terms cstanleytech Jun 2015 #85

"...good terms or at least honest terms..." is exactly the point. truebluegreen Jun 2015 #94

Thus the part of my post that they need to take them to court. cstanleytech Jun 2015 #95

If the money is borrowed fairly, legally and based on accurate information fasttense Jun 2015 #60

The CIA seems to think sulphurdunn Jun 2015 #27

+1 truebluegreen Jun 2015 #33

The IMF, and Euro. Central Bank (ECB) are scared shitless that Spain, Italy, etc. will copy Greece. dixiegrrrrl Jun 2015 #70

Good. sulphurdunn Jun 2015 #72

For a country that can't survive without those bailouts mythology Jun 2015 #28

Actually, the country can survive... truebluegreen Jun 2015 #31

People need to stop believing that everything bad is some conspiracy mythology Jun 2015 #58

Who is "Greece"? truebluegreen Jun 2015 #65

The Greeks can't pay. sulphurdunn Jun 2015 #73

Do you think the banks want to get nothing back from Greece? randome Jun 2015 #75

The banks want to loot (privatize) sulphurdunn Jun 2015 #96

They've already destroyed themselves if they don't accept a Western bailout. randome Jun 2015 #110

You realize that the "bailouts".. sendero Jun 2015 #35

They certainly have the option to tell everyone they owe money to to go take a hike Nye Bevan Jun 2015 #44

I realize this is way past your pay grade.. sendero Jun 2015 #46

+1 truebluegreen Jun 2015 #82

The banks may be worse off without Greece. sulphurdunn Jun 2015 #37

Greece will be infinitely worse off having to switch back to the drachma. Calista241 Jun 2015 #62

Has anyone heard anything else wrt to Greece possibly joining the BRICS Development Bank? polly7 Jun 2015 #45

As early as 1993, the then Dutch prime-minister Ruud Lubbers warned Betty Karlson Jun 2015 #56

Wish I could recommend this post seven ways to Sunday fasttense Jun 2015 #57

Greece is responsible for Greece. randome Jun 2015 #61

During a recent investigation of the overall problem, the Greek Parliament Committee found: dixiegrrrrl Jun 2015 #76

At least they blamed the "Greek authorities" for some of it. randome Jun 2015 #79

They still cashed the checks though, didn't they? Nye Bevan Jun 2015 #71

Who is the "they" to whom you refer? truebluegreen Jun 2015 #86

Better yet, track who profited from it and claw it back yurbud Jun 2015 #84

Its not that easy, alot of the loans were probably legitimate with fair market terms and cstanleytech Jun 2015 #88