The rules over their entry to the Euro were fudged out of sight, it was always going to end in tears, if they fudge it again the Greeks will only consume vast amounts of European tax payers money again and then end up in exactly the same position(or worse) further down the line.
Unfortunately, the Greeks want their cake but seem unwilling to put in all the ingredients. This is what happens when your economy is weighed down by the public sector, with all the perks no country can afford. It will end in tears!
in my opinion it is a paper exercise and no more. If the Greeks have given a new proposal they have to at least seem to peruse it ( but which one though as they sent two propsals, hardly inspiring or confidence boosting. I still think the Greeks will go to the wall may help some of the other European countries Governments to focus the mind and make some of the hard decisions that are necessary if not always the most popular. Delighted that the measures that have bought a steady recovery to this country will continue. Saves us being in the mess that Stavros Balls would IMHO have got us into.
The EU finance minister meeting has broken up with no resolution, speeches and talks to continue. Who would have predicted that astounding outcome?
In the meantime Rome(Athens) burns, banks are bleeding money and Greek people praying for a miracle, I'm glad I'm not going there for my holiday this year however much travel company's reassure it's a bloody mess.
Some 'interesting' posts of late. Along the lines of - are we making profit, how much gas are you selling and at what rates.
How can the company be expected to answer the first one when it doesn't know how much it may spend later in financial year on say drilling or CNG etc. Impossible to answer and six monthly accounts will show a position and no more.
If I were VOG I would not be telling all and sundry what rates I was selling my gas for - allows clients to start to ask why they are paying more than next door etc.
We get periodic scuff updates and that should suffice.
I can appreciate why holders and indeed shorters carve information - positive or negative - just have to be patient.
It's good however that the company spokesman agrees with my main point about transparency. The more information out in the public arena the better. He's probably right it doesn't need to be monthly. Just tells us if VOG is making money and how much and what the costs are.
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