Greece and Bitcoin: A Possible Future
Greece has been experiencing rough times since 2008. The economy has shrunk by about one quarter. Unemployment stands at about 25 percent, hundreds of thousands of businesses have closed and many of the nation's people are living in poverty. In the midst of all this, it appears that the country is having difficulty electing a new presidential leader. Eurozone bonds and European shares experienced a heavy slump today following the Greek Parliament's rejection of the government's presidential candidate, thus paving the way for a possible Syriza party win. This could mean a number of things;....
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Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
Analysts report that the aid package being offered to Greece is not functionally big enough to cover gaps in the future and that the country may be in trouble after accepting the deal. The austerity measures the package pushes, as well as other provisions within the deal, could cause civil unrest. This became obvious today as protesters took to the streets to express opposition to the aid package presently on the table for Greece. Among other things, the package requires tax hikes and cuts to pension packages, neither of which are popular even in the ruling party. Also read: How Bitcoin....
Things only get worse, as the higher annual incomes will receive a higher tax allowance. Several countries around the world are looking to transition into a cashless economy. Some countries are actively forcing this change by banning banknotes. Greece seems to be the next country on the list to do so, as some changes will be coming in 2017. Taxpayers will only receive deductions when payments are made through debit or credit cards. A rather “soft” approach to ending cash, but a clear hint of what the future will hold for Greece. What makes these new guidelines intriguing is how they will....
Greece, one of the world’s regions that was known for ratio, philosophy and mathematics in the ancient world is under siege. These days, Greece and the lending/repayment actions are daily in the news. A lot of people are getting worked up about the EU, the European central bank, Germany, Belgium, lending policies etc. and “the poor Greek people”. To understand the EU viewpoints on Greece, just or not, and Greece itself we will have to go back in time. In the second part, we will discuss the benefit of blockchain like technologies and Bitcoin. To understand the current crisis in Greece, we....
The results of Sunday's elections in Greece brought the left wing party Syriza a breath away from an absolute majority. The party was 2 seats away from getting the 151 required in order to form a government of its own. The government was formed in cooperation with the party Independent Greeks that won 13 seats in the parliament. Besides all that, what does a left wing government really mean for bitcoin in Greece? What things are like in Greece. It's quite well known that Greece is in an economic crisis. Not many things have changed from the time Greece became insolvent back in 2010. The....