Greece defaults on its debts

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I think you're overestimating how important natural resources are in a modern economy. There are many countries with few natural resources and a small agricultural sector which are nonetheless extremely prosperous. (Also, is Greece that poor in natural resources?)
Are there that many of them though? Outside of city states and micronations the small developed countries all have well functioning tax systems and some kind of major industry on which their economy is ultimately based.

The point is moot as Greece doesn't have a functioning modern economy and pretending it does and lending as if it had the ability to repay like one is part of why greece is in this mess.

Very few successful less developed nations have small industrial and agricultural sectors.
 
There seems to be a crisis in polling in general, and a lot of major ones have proved unreliable recently - remember the UK general election predictions?
This, I think some people will just outright lie to pollsters, here in the UK they call it the shy Tory vote, if you are an American the equivalent would be if you lived in a very liberal area you probably wouldn't want to be open about being a Republican unless you felt strongly about it since the way political tribalism is certain people will equate your voting intentions to whatever stereotypes the party has.
 
This, I think some people will just outright lie to pollsters, here in the UK they call it the shy Tory vote, if you are an American the equivalent would be if you lived in a very liberal area you probably wouldn't want to be open about being a Republican unless you felt strongly about it since the way political tribalism is certain people will equate your voting intentions to whatever stereotypes the party has.
I'm skeptical of that...I'm not saying it doesn't happen, but for example in the US the assumption was that polling overestimated the support of black Democrats because people who just didn't want a black Democrat in office didn't want to articulate that they are racist to phone pollsters. But this was mostly having to do with a particular election (https://en.wikipedia.org/wiki/Bradley_effect) and the degree to which it was consistent, or even present in the first place, was questionable.

The presumption is that pollsters would weigh for the Shy Tory Factor (as well as a multitude of other things such as likelihood of turnout) in their models.
 
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Are there that many of them though?

I could name a dozen off the top of my head, and I'm talking about countries of roughly similar size to Greece (Switzerland, New Zealand, Finland, etc etc). Here's a counterpoint - can you show me a wealthy first world nation where resource extraction plays a major role in the economy, aside from Australia? You're right that Germany and the UK have natural resources, but they're mostly just allowed to lie underground because it's not economically viable to extract them, so they're not really that relevant to the modern economy.
 
I could name a dozen off the top of my head, and I'm talking about countries of roughly similar size to Greece (Switzerland, New Zealand, Finland, etc etc). Here's a counterpoint - can you show me a wealthy first world nation where resource extraction plays a major role in the economy, aside from Australia? You're right that Germany and the UK have natural resources, but they're mostly just allowed to lie underground because it's not economically viable to extract them, so they're not really that relevant to the modern economy.
You're missing my point- greece does not have the economy of a wealthy first world nation.

If denmark or finland were to find themselves in greeces position their currency would devalue to the point where resource extraction or manufacturing would be viable.

Thats what happened in finland when the soviet union collapsed.

By being stuck with an artificially strong currency this cannot happen to greece.

Greece has a collapsed service industry, a public sector it cannot afford and a dysfunctional tax collection system all of which are common traits of early 1990s post communist states. Those former communist states which have developed fastest all had a strong agricultural base.


As to a similar sized 1st world country norway fits your definition, its service economy is structured around oil and timber. Following the default of its banks iceland restructured around aluminum.
 
Well the people voted for no austerity measures and no new taxes.

So I guess the money fairy will come and pay off their debt.
 
Greece does not have the means to collect taxes from a population that is unwilling to pay them.
There was news sometimes like a year ago about Greece having ran out of ink to print tax non-compliance notes.
Considering how poor the population is, it might very well cost more to collect the due tax than the amount perceived that way.

Oh and btw every fucking region voted no so I'm not sure which group could have been over-represented in the polls.
 
Greece has a collapsed service industry, a public sector it cannot afford and a dysfunctional tax collection system all of which are common traits of early 1990s post communist states. Those former communist states which have developed fastest all had a strong agricultural base.

The most economically successful post-communist states are Slovenia, Estonia and the Czech Republic. Their agricultural sectors account for 2%, 3.5% and 2.5% of their economies, respectively.

Well the people voted for no austerity measures and no new taxes

Maybe Greece should join California?
 
The most economically successful post-communist states are Slovenia, Estonia and the Czech Republic. Their agricultural sectors account for 2%, 3.5% and 2.5% of their economies, respectively.



Maybe Greece should join California?
those states were richer than the others when the iron curtain fell- their growth hasn't been the greatest. that would be countries like Kazakhstan or Uzbekistan. Their agricultural sectors are still around the 4-5% marks but their industrial base hovers between 30-40%.

zambia is another post communist state that has managed to grow considerably since the 1990's- its agricultural base is 19% and industrial 34%.

greece and zambia have roughly the same gdp per capita.
 
Maybe Greece should join California?
As a Californian, you have no idea how similar they really are, with an exception being that California has somehow managed to have at least something resembling an economy still. Both have elected what amount to neo-communists to their governments in overwhelming majorities. I know, the Democrats being called "socialist" is something a lot of people have tired of, but the Californian Democrats are completely different from your average left-leaning liberal Democrat that you'd find in a state that has political competition. The Greek populace voted against the one thing that could have saved it from going further into default while still staying within the EU (although Greece staying in the EU is still disastrous in any case), while the Californian populace repeatedly votes for business regulation that has caused an exodus of capital, bond measures that have absolutely no chance of being sustainably funded, and tax increases to fund the previous two that those who vote for them think won't affect them. It's shit like this that has made me lose all faith in democracy.
 
those states were richer than the others when the iron curtain fell- their growth hasn't been the greatest. that would be countries like Kazakhstan or Uzbekistan. Their agricultural sectors are still around the 4-5% marks but their industrial base hovers between 30-40%.

The 'stans' growth has been almost totally dependent on oil production. Similarly, the countries I mentioned all achieved growth rates of 6% or higher in the 00s, which were among the highest in the developed world. In 2006 Estonia's growth rate was 11.2%, which was the highest in the developed world. It's very hard to square this with your assertion that a large agricultural sector is a necessity for growth.

zambia is another post communist state that has managed to grow considerably since the 1990's- its agricultural base is 19% and industrial 34%.

When was Zambia communist?
 
The 'stans' growth has been almost totally dependent on oil production. Similarly, the countries I mentioned all achieved growth rates of 6% or higher in the 00s, which were among the highest in the developed world. In 2006 Estonia's growth rate was 11.2%, which was the highest in the developed world. It's very hard to square this with your assertion that a large agricultural sector is a necessity for growth.



When was Zambia communist?
My assertion was that without a viable service sector commodities are needed to fuel growth and in the specific case of greece which lacks natural resources agriculture would have been the obvious alternative.

Zambia was a one party marxist state from 1968-1991. It has had a consistant growth rate of 8% since the mid naughties.
 
It's becoming more apparent to me as to why Yanis Varoufakis resigned from his position. I had been suspecting something was up and thought about it long and hard the other day.

http://www.cnbc.com/2015/07/10/what-next-in-greek-debt-crisis-after-reform-proposals.html

http://www.theguardian.com/business/live/2015/jul/10/greek-crisis-deal-hopes-mps-vote-tsipras-live

Alexis Tsipras wants the country to accept these bailout terms. I don't find it surprising in the slightest as to what his motives have been from the very beginning. I also heard there's going to be some kind of no march today by some Greeks.

I also found this interesting. Greece no matter what is going to have some major issues down the road.

 
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OK new news

It apperaed Greece folded to the troika, having no choice becasue no preparations were made for a new currency and iot would be impossible to do it in fast enough.

Well guess what? The main reason why it wasn't done is a lack of founding to create the infrastructure to print and mint the new money. This is truely magnificent.
 
Greece is gay and it invented buttsex and that's why it is being buttsexed.
 
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