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politicalbetting.com » Blog Archive » It wasn’t just at the May 2015 general election that the po

SystemSystem Posts: 12,218
edited July 2015 in General

imagepoliticalbetting.com » Blog Archive » It wasn’t just at the May 2015 general election that the polling did not cover itself with glory

What should be noted about this poll was that it took place six days after the postal ballot packs had gone out and for many of those sampled was actually an exit poll.

Read the full story here


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Comments

  • DavidLDavidL Posts: 54,032
    A good survey Mike that certainly kills any suggestion that the 2015 election was any sort of one off aberration. The polling of the Labour leadership is particularly interesting at the moment of course and should urge caution on those betting on the final outcome in what is now the only category.

    It is difficult to see any clear trend in the errors either. What is particularly depressing about the GE is that the grouping, however it occurred, meant that it can no longer be confidently said that phone polling is any better than internet polling. We really are flying blind.

  • PaulyPauly Posts: 897
    Another underestimate this year was the Danish People's Party - roll on eurosceptics.
  • DavidLDavidL Posts: 54,032
    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.
  • foxinsoxukfoxinsoxuk Posts: 23,548
    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

  • SandpitSandpit Posts: 55,036
    edited July 2015
    Morning all.
    On topic, polling is obviously becoming a less exact science. Or rather, gaining an accurate sample is becoming more and more difficult as people lead more complicated lives and communicate in different ways than only a few years ago.

    In other news, I think we still have a Greece, although its banks are shut again. This is looking more and more like some sort of game theory marathon. Shall we get a live studio audience to cheer on the participants, maybe a game show host like Noel Edmonds to present? Greece and Germany. 50bn Euros. Deal or No Deal.
  • CarlottaVanceCarlottaVance Posts: 60,216
    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
  • CarlottaVanceCarlottaVance Posts: 60,216

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.
    And not just Syrizia.....lets face it, the whole country 'has previous.....'
  • DavidLDavidL Posts: 54,032

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

    Well they don't really have a choice. The idea of floating their own currency in the current situation without strong ECB and IMF support is a complete fantasy created by that interesting class of people who populate the Telegraph below the line. Who on earth would accept it and at what price? What would the country eat while that was being sorted out?

    Coming out of the Euro would have been possible up to early this year with international support and might well have been a better option for Greece but it is no option at all at the present time. So they have to take whatever the EZ as a whole considers to be in their best interests. It is possible of course that the other EZ leaders are right and this restructuring is what the Greek economy really needs.
  • DavidLDavidL Posts: 54,032

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
  • AlanbrookeAlanbrooke Posts: 25,516
    edited July 2015
    DavidL said:

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

    Well they don't really have a choice. The idea of floating their own currency in the current situation without strong ECB and IMF support is a complete fantasy created by that interesting class of people who populate the Telegraph below the line. Who on earth would accept it and at what price? What would the country eat while that was being sorted out?

    Coming out of the Euro would have been possible up to early this year with international support and might well have been a better option for Greece but it is no option at all at the present time. So they have to take whatever the EZ as a whole considers to be in their best interests. It is possible of course that the other EZ leaders are right and this restructuring is what the Greek economy really needs.
    Oh I don't know, Cameron insists on spending huge amounts of cash on foreign aid most of which is wasted. Perhaps we could fund Greece for a bit, at least it would be something useful for a change.
  • FinancierFinancier Posts: 3,916
    See that Harriet is going to have to explain herself these evening to her Labour colleagues as Burnham, Cooper and Corbyn have opposed her publicly. Well does Labour want to follow the line of realism and common sense or wish to continue dreaming?

    As trust is a key problem with Greece, why not say, put into law immediately the structural changes required and then we will give you the financial backing you need. Seems that the Greek PM is playing more for his political person than for the requirements of his country. Of course he tricked Hollande who appears to have split the EZ even more.
  • CarlottaVanceCarlottaVance Posts: 60,216
    I do hope so:

    “As a consequence of you being here [Heathrow North Runway], you are causing severe disruption and it will be in the millions of pounds because it will take us a while to remove you.

    “The cost will be in the couple of millions. The airport will attempt to make a civil recovery.”


    http://www.theguardian.com/uk-news/2015/jul/13/heathrow-disruption-climate-change-activists-claim-chained-runway
  • malcolmgmalcolmg Posts: 43,509
    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
    Bollocks David, the only thing Scotland needs take out of this , and we already know it , is not to borrow wholesale like the UK or Greece and live within your means or at least with minimum debt. It does not take a rocket scientist to realise that and we certainly don't need lecturing by the nasty party.
  • JonathanJonathan Posts: 21,706
    Given how frequently DM and EM were confused on the media, I wonder if polls were equally mixed up.
  • AlanbrookeAlanbrooke Posts: 25,516
    malcolmg said:

    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
    Bollocks David, the only thing Scotland needs take out of this , and we already know it , is not to borrow wholesale like the UK or Greece and live within your means or at least with minimum debt. It does not take a rocket scientist to realise that and we certainly don't need lecturing by the nasty party.
    LOL, don't think Nicola has your insight malc. She's taking the Viv Nicholson approach to economics.

  • FalseFlagFalseFlag Posts: 1,801

    I do hope so:

    “As a consequence of you being here [Heathrow North Runway], you are causing severe disruption and it will be in the millions of pounds because it will take us a while to remove you.

    “The cost will be in the couple of millions. The airport will attempt to make a civil recovery.”


    http://www.theguardian.com/uk-news/2015/jul/13/heathrow-disruption-climate-change-activists-claim-chained-runway

    Perhaps the Spanish and Arab owners of Heathrow can compensate the residents of West London whilst they are at it since they lobbied to increase flights and earlier take off and landing times.

    870m from revenues of 2.7bn seems very high for a regulated industry.
    http://www.telegraph.co.uk/finance/comment/11718158/Party-politics-will-see-off-a-third-runway-at-Heathrow.html
  • DavidLDavidL Posts: 54,032
    malcolmg said:

    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
    Bollocks David, the only thing Scotland needs take out of this , and we already know it , is not to borrow wholesale like the UK or Greece and live within your means or at least with minimum debt. It does not take a rocket scientist to realise that and we certainly don't need lecturing by the nasty party.
    What we should learn from this is that the idea that Scotland could continue to use the £ without a currency union with rUK was either blatant lying or gross incompetence. Furthermore we should learn that even if rUk was minded to have a currency union with Scotland the price for that is ultimately as little independence as we have at the moment, arguably less, with others setting the rules for spending, interest rates, borrowing and economic policy.

    If Scotland wants genuine independence it needs to have its own currency, its own central bank and, as you rightly say, learn to live within its own means. But I have little doubt that if we go through a second referendum the same lies will be told all over again.
  • foxinsoxukfoxinsoxuk Posts: 23,548
    DavidL said:

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

    Well they don't really have a choice. The idea of floating their own currency in the current situation without strong ECB and IMF support is a complete fantasy created by that interesting class of people who populate the Telegraph below the line. Who on earth would accept it and at what price? What would the country eat while that was being sorted out?

    Coming out of the Euro would have been possible up to early this year with international support and might well have been a better option for Greece but it is no option at all at the present time. So they have to take whatever the EZ as a whole considers to be in their best interests. It is possible of course that the other EZ leaders are right and this restructuring is what the Greek economy really needs.
    Tsipras and Syrizia seem to have made no Plan B. No alternative currency plans or contingencies. Game Theory is becoming discredited by them attempting to bluff with no cards in their hand.

    Greece being run as an EU protectorate for a few years may not be such a bad thing. The EU could hardly do worse than the Greeks themselves have done, and would have to accept some responsibility for relieving the misery of the Greek people.
  • FinancierFinancier Posts: 3,916
    Militant union boss Len McCluskey has changed his organisation’s rules to allow activists to stage illegal strikes.

    Unite has removed a clause requiring its 1.5million members to remain within the law.

    The extraordinary move is a riposte to the Government’s pledge to curb militants’ right to strike........

    The bill, to be introduced on Wednesday, will impose minimum turnout thresholds on strike ballots that would have outlawed three-quarters of the strikes seen in recent years, and softened the impact of this week’s transport disputes. Essential services such as fire, transport, health and education will need 40 per cent of all those eligible to vote to back a strike before it can go ahead......

    Mr McCluskey raised the threat of changing Unite rules earlier this year, before the election. He said the right to strike was already ‘hanging by a thread’ as a result of reforms by the Coalition.

    His latest intervention will put pressure on Labour leadership contenders to say whether they approve of illegal strikes.

    http://www.dailymail.co.uk/news/article-3158759/

    He will get Corbyn's support, but which way will the rest go - testing times.
  • Innocent_AbroadInnocent_Abroad Posts: 3,294
    2015 only looked like a General Election. In fact, it was several contests at once: Labour/Tory, Tory/UKIP, Labour/UKIP, Tory/LD, Labour/LD, Labour/SNP - with all the possibilities for tactical voting that implied (I voted tactically for the first time I can remember, and I can't possibly have been alone in that). What the polls didn't pick up was the smashing of Labour in Scotland by the SNP, and the smashing of the Lib Dems by everyone. Not only the pollsters but the traditional concept of "swing" took a bashing.

    God help the pollsters next time, with new constituency boundaries!
  • Morris_DancerMorris_Dancer Posts: 61,968
    edited July 2015
    Good morning, everyone.

    Very good point on polling. Perhaps more useful for momentum changes than precision (excepting exit polls at General Elections which seem very good).

    Mr. Financier, I'm sure we can all agree strikes are wrong, but the government's acted in a reckless and provocative manner.

    Edited extra bit: Mr. Jonathan, that's a very sound point.
  • SandpitSandpit Posts: 55,036
    edited July 2015
    FalseFlag said:

    I do hope so:

    “As a consequence of you being here [Heathrow North Runway], you are causing severe disruption and it will be in the millions of pounds because it will take us a while to remove you.

    “The cost will be in the couple of millions. The airport will attempt to make a civil recovery.”


    http://www.theguardian.com/uk-news/2015/jul/13/heathrow-disruption-climate-change-activists-claim-chained-runway

    Perhaps the Spanish and Arab owners of Heathrow can compensate the residents of West London whilst they are at it since they lobbied to increase flights and earlier take off and landing times.

    870m from revenues of 2.7bn seems very high for a regulated industry.
    http://www.telegraph.co.uk/finance/comment/11718158/Party-politics-will-see-off-a-third-runway-at-Heathrow.html
    Can the protestors not be charged with aggravated trespass and endangering aircraft? The latter carries a serious prison sentence if the judge is so inclined.
    Heathrow should give them a space they can protest if they wish, or else we will be seeing this every few weeks for the next decade.
    Paradoxically of course, their morning protest resulted in more noise than usual to the residents of West London, as planes were kept in the air longer waiting for the single runway in use to become available
  • foxinsoxukfoxinsoxuk Posts: 23,548
    DavidL said:

    malcolmg said:

    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
    Bollocks David, the only thing Scotland needs take out of this , and we already know it , is not to borrow wholesale like the UK or Greece and live within your means or at least with minimum debt. It does not take a rocket scientist to realise that and we certainly don't need lecturing by the nasty party.
    What we should learn from this is that the idea that Scotland could continue to use the £ without a currency union with rUK was either blatant lying or gross incompetence. Furthermore we should learn that even if rUk was minded to have a currency union with Scotland the price for that is ultimately as little independence as we have at the moment, arguably less, with others setting the rules for spending, interest rates, borrowing and economic policy.

    If Scotland wants genuine independence it needs to have its own currency, its own central bank and, as you rightly say, learn to live within its own means. But I have little doubt that if we go through a second referendum the same lies will be told all over again.
    If, as seems inevitable, there is to be a further Sindyref, it would be better to have resolved the proposal a little better in advance, for the benefit of both parties. The uncertainties over currency, defence, percentage of national debt liable to Scotland, the division of UK assets in Scotland, rUK and abroad, the European Union, pensions etc added too much uncertainty to what was already a rather uncertain mix.

    It would also be fairly sensible to know what we are voting for in a Brexit referendum too: EEA? the 4 freedoms, access to European Markets? Status of Brits in the EU and EU citizens in the UK etc etc
  • FinancierFinancier Posts: 3,916

    Good morning, everyone.

    Very good point on polling. Perhaps more useful for momentum changes than precision (excepting exit polls at General Elections which seem very good).

    Mr. Financier, I'm sure we can all agree strikes are wrong, but the government's acted in a reckless and provocative manner.

    Edited extra bit: Mr. Jonathan, that's a very sound point.

    Please explain why it is reckless and provocative to require a majority of the members of a Union to vote for a strike for it to go ahead rather than a small minority who opted to vote whilst the rest obstained/DNV/did not get the papers/disagreed but were afraid to say so?
  • numbertwelvenumbertwelve Posts: 6,927
    Deal reached in Brussels. And with that the can is once more gently kicked slightly down the rocky road to Grexit.
  • Morris_DancerMorris_Dancer Posts: 61,968
    Mr. Financier, sorry, I was sarcastically quoting Miliband's stock answer when he said the same thing to an interviewer, regardless of the question.

    https://www.youtube.com/watch?v=wCem9EZb-YA
  • williamglennwilliamglenn Posts: 52,303
    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    Perhaps the point of it all, whether by accident or design, was to show the Greek political class that there really is no alternative to deep reform and modernisation.
  • rcs1000rcs1000 Posts: 57,662
    Re FalseFlag, returns for regulated industries are usually based around return on invested capital, rather than on operating margin.

    So, if you spent £10bn building an airport, you would be allowed to make a profit of -say - 8%.
  • foxinsoxukfoxinsoxuk Posts: 23,548
    edited July 2015

    2015 only looked like a General Election. In fact, it was several contests at once: Labour/Tory, Tory/UKIP, Labour/UKIP, Tory/LD, Labour/LD, Labour/SNP - with all the possibilities for tactical voting that implied (I voted tactically for the first time I can remember, and I can't possibly have been alone in that). What the polls didn't pick up was the smashing of Labour in Scotland by the SNP, and the smashing of the Lib Dems by everyone. Not only the pollsters but the traditional concept of "swing" took a bashing.

    God help the pollsters next time, with new constituency boundaries!

    Really? I thought the polling on the SNP triumph and LD massacre was actually fairly accurate. The SNP got the near 50% in Scotland that was in the polling, the LDs the 7.8%. UKIP and Greens were not far out either.

    Where people got it wrong was in overestimating local factors over national swing, particularly "personal votes" and in the Lab/Con balance. The remainder was actually pretty accurate. I made good money by betting that the LD vote collapse would lose a lot of seats, UKIP would struggle to hold any and that the SNP would massacre SLAB.
  • Life_ina_market_townLife_ina_market_town Posts: 2,319
    edited July 2015
    @eucopresident Donald Tusk
    EuroSummit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support
  • Morris_DancerMorris_Dancer Posts: 61,968
    Mr. Foxinsox, minor party shares were pretty accurate in the 2015 election, but there was a pretty significant error when it came to the biggest two.
  • edmundintokyoedmundintokyo Posts: 17,708

    DavidL said:

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

    Well they don't really have a choice. The idea of floating their own currency in the current situation without strong ECB and IMF support is a complete fantasy created by that interesting class of people who populate the Telegraph below the line. Who on earth would accept it and at what price? What would the country eat while that was being sorted out?

    Coming out of the Euro would have been possible up to early this year with international support and might well have been a better option for Greece but it is no option at all at the present time. So they have to take whatever the EZ as a whole considers to be in their best interests. It is possible of course that the other EZ leaders are right and this restructuring is what the Greek economy really needs.
    Tsipras and Syrizia seem to have made no Plan B. No alternative currency plans or contingencies. Game Theory is becoming discredited by them attempting to bluff with no cards in their hand.
    People who talk about Game Theory always seem to really suck at the actual game.

    Relatedly, Nick Szabo on Small Game Fallacies:
    http://unenumerated.blogspot.jp/2015/05/small-game-fallacies.html?m=1
  • numbertwelvenumbertwelve Posts: 6,927
    Is Tsipras about to become the Greek Ramsay Macdonald?
  • FinancierFinancier Posts: 3,916
    France is “the sick man of Europe”, François Fillon, the former centre-Right prime minister, has said in an open letter to French president Francois Hollande, calling for urgent economic reforms.

    “The Greek tragedy shows that the threat of bankruptcy is not abstract,” according to Mr Fillon, who headed the government of former president Nicolas Sarkozy until 2012.

    Mr Hollande’s efforts to save Greece from exiting the eurozone have “temporarily eclipsed our own economic, social and financial failures,” Mr Fillon said. .......

    Mr Fillon urged the Socialist president to “unlock France from its 35-hour (working week) and introduce far-reaching economic reforms, including more flexible employment laws, in the letter published in the Journal du Dimanche newspaper.

    “France is turning into a pauper and is seeking to regain its lost pride,” he said.

    http://www.telegraph.co.uk/news/worldnews/europe/france/11734627/

  • foxinsoxukfoxinsoxuk Posts: 23,548

    Mr. Foxinsox, minor party shares were pretty accurate in the 2015 election, but there was a pretty significant error when it came to the biggest two.

    A concise summary of my point! The difference may well be that with the big 2 there was the credibility factor as potential government, which simply doesn't apply to the others.
  • Innocent_AbroadInnocent_Abroad Posts: 3,294

    2015 only looked like a General Election. In fact, it was several contests at once: Labour/Tory, Tory/UKIP, Labour/UKIP, Tory/LD, Labour/LD, Labour/SNP - with all the possibilities for tactical voting that implied (I voted tactically for the first time I can remember, and I can't possibly have been alone in that). What the polls didn't pick up was the smashing of Labour in Scotland by the SNP, and the smashing of the Lib Dems by everyone. Not only the pollsters but the traditional concept of "swing" took a bashing.

    God help the pollsters next time, with new constituency boundaries!

    Really? I thought the polling on the SNP triumph and LD massacre was actually fairly accurate. The SNP got the near 50% in Scotland that was in the polling, the LDs the 7.8%. UKIP and Greens were not far out either.

    Where people got it wrong was in overestimating local factors over national swing, particularly "personal votes" and in the Lab/Con balance. The remainder was actually pretty accurate. I made good money by betting that the LD vote collapse would lose a lot of seats, UKIP would struggle to hold any and that the SNP would massacre SLAB.
    Glad you made money betting on the result. So did I. Even so, this is the first GE I can remember in which Labour and the Tories have taken seats off each other. And I still don't understand why the LDs held any seats (other than O&S) on 7.8%!

  • MarqueeMarkMarqueeMark Posts: 52,952
    Greece - welcome to economic reality.

    It's a bitch, ain't it?
  • kle4kle4 Posts: 96,591

    DavidL said:

    DavidL said:

    Its looking like Greece is now going to be signing up to a deal that is genuinely humiliating and far, far more severe than the one the government campaigned against and obtained the No vote for. If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    So we are apparently going to have a left wing government signing up to mass privatisations with control and the proceeds outside Greece, all the steps taken by Syriza since January reversed and pretty much all of the legislation required for this raced through by Wednesday. And, of course, the deeply resented external supervision will be far more intense than it has been to date as well.

    It seems almost inconceivable that this party will hold together and be able to deliver this. My guess is that the government will fall and be replaced by some sort of government of national unity this week.

    He who pays the piper calls the tune. It is not about humiliation. It is about making sure that Syrizia keeps its word, something that in the past it has been rather cavalier about.

    Those Greeks sure want to stay in the Euro!

    Well they don't really have a choice. The idea of floating their own currency in the current situation without strong ECB and IMF support is a complete fantasy created by that interesting class of people who populate the Telegraph below the line. Who on earth would accept it and at what price? What would the country eat while that was being sorted out?

    Coming out of the Euro would have been possible up to early this year with international support and might well have been a better option for Greece but it is no option at all at the present time. So they have to take whatever the EZ as a whole considers to be in their best interests. It is possible of course that the other EZ leaders are right and this restructuring is what the Greek economy really needs.
    Tsipras and Syrizia seem to have made no Plan B. No alternative currency plans or contingencies. Game Theory is becoming discredited by them attempting to bluff with no cards in their hand.

    Greece being run as an EU protectorate for a few years may not be such a bad thing. The EU could hardly do worse than the Greeks themselves have done, and would have to accept some responsibility for relieving the misery of the Greek people.
    The lack of a plan b has to the only explanation for this turnaround - they were not prepared for what would happen if the other side did not cave, so had to cave themselves. If they'd had a plan b maybe the other side might have caved.

    Bizarre situation, how can. Tsipras explain himself to the Greek people on this?
  • Innocent_AbroadInnocent_Abroad Posts: 3,294
    edited July 2015

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    It kills people. But I expect you find that amusing, MM.
  • DecrepitJohnLDecrepitJohnL Posts: 13,300

    @eucopresident Donald Tusk
    EuroSummit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support

    The question to be asked when details are revealed is, how will the reforms help Greece? Improving tax collection rates is an obvious one, but selling state assets is less certain to help in the long term if the new owners are foreign, as seems likely. Even the current crisis, by decimating tourism, has made matters worse.
  • MarqueeMarkMarqueeMark Posts: 52,952

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    It kills people. But I expect you find that amusing, MM.
    Huh?
  • Morris_DancerMorris_Dancer Posts: 61,968
    Mr. Foxinsox, that's a good point. There's also the 'shy Tory' factor to consider.
  • Innocent_AbroadInnocent_Abroad Posts: 3,294

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    It kills people. But I expect you find that amusing, MM.
    Huh?
    What's that supposed to mean? I have to go now...

  • runnymederunnymede Posts: 2,536
    So we have now rewound to the 19th century with Greece signing up to the most incredibly humiliating terms.

    But there is an air of unreality about this; more debt, more austerity, further declines in GDP are on the way. The notion that this deal can be anything other than the most temporary palliative is fanciful.
  • foxinsoxukfoxinsoxuk Posts: 23,548

    2015 only looked like a General Election. In fact, it was several contests at once: Labour/Tory, Tory/UKIP, Labour/UKIP, Tory/LD, Labour/LD, Labour/SNP - with all the possibilities for tactical voting that implied (I voted tactically for the first time I can remember, and I can't possibly have been alone in that). What the polls didn't pick up was the smashing of Labour in Scotland by the SNP, and the smashing of the Lib Dems by everyone. Not only the pollsters but the traditional concept of "swing" took a bashing.

    God help the pollsters next time, with new constituency boundaries!

    Really? I thought the polling on the SNP triumph and LD massacre was actually fairly accurate. The SNP got the near 50% in Scotland that was in the polling, the LDs the 7.8%. UKIP and Greens were not far out either.

    Where people got it wrong was in overestimating local factors over national swing, particularly "personal votes" and in the Lab/Con balance. The remainder was actually pretty accurate. I made good money by betting that the LD vote collapse would lose a lot of seats, UKIP would struggle to hold any and that the SNP would massacre SLAB.
    Glad you made money betting on the result. So did I. Even so, this is the first GE I can remember in which Labour and the Tories have taken seats off each other. And I still don't understand why the LDs held any seats (other than O&S) on 7.8%!

    I did best on overall seat numbers for Labour/Con (by following Jacks ARSE), and on constituency markets. On the assumption of a drop of around 60% of the LD vote nationally, I made slight allowance for a personal vote and took off about 40% of the LD vote and attributed it fairly evenly between Tory, Labour and others. It served me well. Against the kippers I did best by backing the major challenger.
  • SouthamObserverSouthamObserver Posts: 39,672
    DavidL said:

    malcolmg said:

    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
    Bollocks David, the only thing Scotland needs take out of this , and we already know it , is not to borrow wholesale like the UK or Greece and live within your means or at least with minimum debt. It does not take a rocket scientist to realise that and we certainly don't need lecturing by the nasty party.
    What we should learn from this is that the idea that Scotland could continue to use the £ without a currency union with rUK was either blatant lying or gross incompetence. Furthermore we should learn that even if rUk was minded to have a currency union with Scotland the price for that is ultimately as little independence as we have at the moment, arguably less, with others setting the rules for spending, interest rates, borrowing and economic policy.

    If Scotland wants genuine independence it needs to have its own currency, its own central bank and, as you rightly say, learn to live within its own means. But I have little doubt that if we go through a second referendum the same lies will be told all over again.

    The next referendum will be tricky for the SNP as the GERs figures will be much harder to manipulate and the oil price will be well below the level it was last year.

    That said, given that the SNP's goal is independence at whatever price that may be they will have no qualms about saying whatever they believe will best suit that purpose. The SNP leadership lied last year and will lie next time too. They lie because they know it does not matter. If they win, the result cannot ever be undone.
  • foxinsoxukfoxinsoxuk Posts: 23,548

    Is Tsipras about to become the Greek Ramsay Macdonald?

    He may not be as popular! But the analogy is apt.
  • DecrepitJohnLDecrepitJohnL Posts: 13,300

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    Economic reality being a permanently overvalued currency that sucks in imports and makes exports (including tourism) harder; a bailout that bailed out French and German banks but not the Greeks; and forced asset sales to foreigners who will withdraw profits from Greece. Yes, it is, as you say, a bitch.
  • SimonStClareSimonStClare Posts: 7,976
    edited July 2015
    Donald Tusk✔@eucopresident - EuroSummit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support.

    Brussels will hold a press conference very soon to reveal the details of the agreement. Painful.



    [edited update] Finance ministers will now start urgent talks on discussing bridge financing for Greece, says Tusk.

    That’s because Greece must repay over €7bn to the ECB in July and August, before any bailout cash can be handed over.
  • Scott_PScott_P Posts: 51,453
    @ZoraSuleman: An 'A Greekment' on the bailout -- joke just made in a speech by Donald Tusk President of the European Council

    Don't give up the day job...
  • FinancierFinancier Posts: 3,916

    @eucopresident Donald Tusk
    EuroSummit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support

    The question to be asked when details are revealed is, how will the reforms help Greece? Improving tax collection rates is an obvious one, but selling state assets is less certain to help in the long term if the new owners are foreign, as seems likely. Even the current crisis, by decimating tourism, has made matters worse.
    Greece has been ill-served by its politicians this year and in previous years. This matter could have been settled well before the tourist season and prevented current angst and upset if the politicians had been truthful and honest with themselves and with the people of Greece.
  • SandpitSandpit Posts: 55,036
    runnymede said:

    So we have now rewound to the 19th century with Greece signing up to the most incredibly humiliating terms.

    But there is an air of unreality about this; more debt, more austerity, further declines in GDP are on the way. The notion that this deal can be anything other than the most temporary palliative is fanciful.

    Yes, what is in this deal that says everyone won't be around the same table again in 6 or 12 months' time?

    Typical EU can-kicking, it's now clear their intention is to force Greece to quit to Euro or even the EU by slow strangulation of their banking system.
  • FrancisUrquhartFrancisUrquhart Posts: 82,533
    Ok, so deal done....when should we expect the next Greek crisis then? Because does anybody really believe

    a) they will get all this through parliament
    b) the Greek people will accept it
    c) the Greek government will actually stick to the deal
  • PulpstarPulpstar Posts: 78,417
    Anyone have the terms of the Greek deal to hand ?
  • notmenotme Posts: 3,293
    Financier said:

    Militant union boss Len McCluskey has changed his organisation’s rules to allow activists to stage illegal strikes.

    Unite has removed a clause requiring its 1.5million members to remain within the law.

    The extraordinary move is a riposte to the Government’s pledge to curb militants’ right to strike........

    The bill, to be introduced on Wednesday, will impose minimum turnout thresholds on strike ballots that would have outlawed three-quarters of the strikes seen in recent years, and softened the impact of this week’s transport disputes. Essential services such as fire, transport, health and education will need 40 per cent of all those eligible to vote to back a strike before it can go ahead......

    Mr McCluskey raised the threat of changing Unite rules earlier this year, before the election. He said the right to strike was already ‘hanging by a thread’ as a result of reforms by the Coalition.

    His latest intervention will put pressure on Labour leadership contenders to say whether they approve of illegal strikes.

    http://www.dailymail.co.uk/news/article-3158759/

    He will get Corbyn's support, but which way will the rest go - testing times.

    I kind of feel the unions are in their box, and dont really need further legislation. But to endorse illegal strikes is a risky business for the union. The union could be held accountable for civil redress from the consequential losses caused by the strikes.
  • Scott_PScott_P Posts: 51,453
    @politicshome: Greek national assets will be put in a fund to pay down debt as part of bailout deal, eurogroup chief Jeroen Dijsselbloem says.
  • kle4kle4 Posts: 96,591
    edited July 2015
    Sandpit said:

    runnymede said:

    So we have now rewound to the 19th century with Greece signing up to the most incredibly humiliating terms.

    But there is an air of unreality about this; more debt, more austerity, further declines in GDP are on the way. The notion that this deal can be anything other than the most temporary palliative is fanciful.

    Yes, what is in this deal that says everyone won't be around the same table again in 6 or 12 months' time?

    Typical EU can-kicking, it's now clear their intention is to force Greece to quit to Euro or even the EU by slow strangulation of their banking system.
    I think they may actually believe they can kick cans down the road forever. The flag should be a boot and a can.

    Maybe if the Greeks follow through on this deal they will be rewarded with debt relief? I disliked their pretence that not giving them more money was anti democratic but they were right they cannot ever pay back what they owe.
  • Scott_PScott_P Posts: 51,453
    @afneil: Looks like Tsipras has agreed to placing state assets under Eurogroup control for privatisation. Greek parliament has to approve.
  • logical_songlogical_song Posts: 9,932

    2015 only looked like a General Election. In fact, it was several contests at once: Labour/Tory, Tory/UKIP, Labour/UKIP, Tory/LD, Labour/LD, Labour/SNP - with all the possibilities for tactical voting that implied (I voted tactically for the first time I can remember, and I can't possibly have been alone in that). What the polls didn't pick up was the smashing of Labour in Scotland by the SNP, and the smashing of the Lib Dems by everyone. Not only the pollsters but the traditional concept of "swing" took a bashing.

    God help the pollsters next time, with new constituency boundaries!

    Really? I thought the polling on the SNP triumph and LD massacre was actually fairly accurate. The SNP got the near 50% in Scotland that was in the polling, the LDs the 7.8%. UKIP and Greens were not far out either.

    Where people got it wrong was in overestimating local factors over national swing, particularly "personal votes" and in the Lab/Con balance. The remainder was actually pretty accurate. I made good money by betting that the LD vote collapse would lose a lot of seats, UKIP would struggle to hold any and that the SNP would massacre SLAB.
    Glad you made money betting on the result. So did I. Even so, this is the first GE I can remember in which Labour and the Tories have taken seats off each other. And I still don't understand why the LDs held any seats (other than O&S) on 7.8%!

    FPTP and it wasn't evenly spread. Ditto for Greens and UKIP.
  • SandpitSandpit Posts: 55,036
    Pulpstar said:

    Anyone have the terms of the Greek deal to hand ?

    Only rumours coming out so far. Official announcement is apparently imminent.
  • FrancisUrquhartFrancisUrquhart Posts: 82,533
    edited July 2015
    Scott_P said:

    @politicshome: Greek national assets will be put in a fund to pay down debt as part of bailout deal, eurogroup chief Jeroen Dijsselbloem says.

    Isn't that a bit like racking up £10,000's on credit cards and overdraft, then defaulting on your mortgage and the bank saying they will use your car to pay down the debt, when the interest and charges you are racking up will just exceed the value of the car pretty much straight away.
  • Sean_FSean_F Posts: 37,546
    runnymede said:

    So we have now rewound to the 19th century with Greece signing up to the most incredibly humiliating terms.

    But there is an air of unreality about this; more debt, more austerity, further declines in GDP are on the way. The notion that this deal can be anything other than the most temporary palliative is fanciful.

    They're in the same position as Egypt in the 1880's.
  • SouthamObserverSouthamObserver Posts: 39,672
    That EU referendum may just have become much harder for Dave to win.
  • RazedabodeRazedabode Posts: 3,033
    Wow...tspiras really has messed up, hasn't he? Manages to negoiate terms worse than what was on offer before.
  • Scott_PScott_P Posts: 51,453
    @afneil: Head of Eurogroup admits agreeing details of Greek deal will take all summer #neverending
  • Morris_DancerMorris_Dancer Posts: 61,968
    Mr. Observer, far too early to say that (I know you have the caveat of 'may', but still).
  • PlatoPlato Posts: 15,724
    On the Small Nation stakes - isn't Scotland about the same size as Greece?
    DavidL said:

    DavidL said:

    If there has been a more ridiculous and idiotic exercise than the Greek referendum in the last 50 years it doesn't immediately come to mind.

    I think our country might give them a run for their money in a couple of years....the number of 'unacceptable' 'material events' just keep piling up.....

    On topic - out of interest, where have polls done well?
    There are so many lessons for Scotland in what is happening to Greece but very few in our country seem to want to listen at the moment.

    What I would say re the polls is that things with low turnout and specialised electorates like party memberships have always been tricky but between 1992 and 2015 the polls had got the national results broadly right. What we are now seeing is that it is as hard to get an accurate sample for these national elections as it is for the more specialised ones. Unless the pollsters can overcome that demand for their product is going to end.
  • Philip_ThompsonPhilip_Thompson Posts: 65,826

    Tsipras and Syrizia seem to have made no Plan B. No alternative currency plans or contingencies. Game Theory is becoming discredited by them attempting to bluff with no cards in their hand.

    I don't see it this way. There has been a lot of silly and over-simplistic reporting of Game Theory to suggest that because the Greeks know about it they'll get a better outcome, but that isn't what Game Theory means.

    To be simplistic myself Game Theory demonstrates how both parties to a conflict can get worse results than they would have got if they refuse or are unable to co-operate and so reach the optimal outcome. The Greeks have taken this knowledge and ... refused to co-operate and got a worse outcome.

    Seems like Game Theory in action to me!
  • FrancisUrquhartFrancisUrquhart Posts: 82,533
    Scott_P said:

    @afneil: Head of Eurogroup admits agreeing details of Greek deal will take all summer #neverending

    So basically they have a deal to do a deal.
  • SandpitSandpit Posts: 55,036
    Scott_P said:

    @afneil: Head of Eurogroup admits agreeing details of Greek deal will take all summer #neverending

    So how is there a deal? They've done a deal to do a deal, WTF?
    Applause to @kle4 for suggesting the EU flag should be a boot and a can. :D
  • edmundintokyoedmundintokyo Posts: 17,708

    Wow...tspiras really has messed up, hasn't he? Manages to negoiate terms worse than what was on offer before.

    OTOH he's still Prime Minister, which was presumably the main objective...
  • Scott_PScott_P Posts: 51,453
    @afneil: Merkel says Greek parliament must vote for package on Wednesday before German Bundestag will consider it.
  • williamglennwilliamglenn Posts: 52,303

    Wow...tspiras really has messed up, hasn't he? Manages to negoiate terms worse than what was on offer before.

    This is less of a can kicking exercise than it would have been, although certainly not in the way Syriza supporters would have anticipated.
  • Morris_DancerMorris_Dancer Posts: 61,968
    The Greek deal still needs several Parliaments to vote in favour.
  • kle4kle4 Posts: 96,591

    Wow...tspiras really has messed up, hasn't he? Manages to negoiate terms worse than what was on offer before.

    There are many ways to judge the competence of a political leader and the efficacy of their tactics, but that sort of summary speaks volumes about the sort of job he's done, even recognising how few options there were.
  • Scott_PScott_P Posts: 51,453
    @BBCr4today: Greece agreement "practically under the threat of the political murder of our economy" - Syriza MP George Katrougalos http://t.co/6alCMYjATo
  • PlatoPlato Posts: 15,724
    That's all rather Paper Tiger isn't it? Like Greek's voting for no austerity?

    Just because it's not in Unite's rules anymore - doesn't make it legal to do illegal stuff.
    Financier said:

    Militant union boss Len McCluskey has changed his organisation’s rules to allow activists to stage illegal strikes.

    Unite has removed a clause requiring its 1.5million members to remain within the law.

    The extraordinary move is a riposte to the Government’s pledge to curb militants’ right to strike........

    The bill, to be introduced on Wednesday, will impose minimum turnout thresholds on strike ballots that would have outlawed three-quarters of the strikes seen in recent years, and softened the impact of this week’s transport disputes. Essential services such as fire, transport, health and education will need 40 per cent of all those eligible to vote to back a strike before it can go ahead......

    Mr McCluskey raised the threat of changing Unite rules earlier this year, before the election. He said the right to strike was already ‘hanging by a thread’ as a result of reforms by the Coalition.

    His latest intervention will put pressure on Labour leadership contenders to say whether they approve of illegal strikes.

    http://www.dailymail.co.uk/news/article-3158759/

    He will get Corbyn's support, but which way will the rest go - testing times.

  • Sean_FSean_F Posts: 37,546

    That EU referendum may just have become much harder for Dave to win.

    My guess is that recent events might cause some people on the Left to reconsider their support for the EU. One of my local MP's is Kelvin Hopkins, who's a prominent Out campaigner, so unusually, the local Out campaign may be Labour-led.
  • SandpitSandpit Posts: 55,036
    Surely any deal that keeps Greece in the EZ must involve the IMF being repaid out of ECB funds or via QE of Euros?

    Mme Legard must be regretting the day her predecessor ever got involved with the EZ.
  • SimonStClareSimonStClare Posts: 7,976
    Eurogroup president Jeroen Dijsselbloem said at the press conference that €50bn of Greek assets will be transferred to a new fund which will contribute to the recapitalisation of Greek banks. - BUT! This fund will be based in Athens, not Luxembourg as originally planned.

    They get to keep their assets at home, good - Greece always wanted the Parthenon and its marble friezes reunited, perhaps they can now flog the Acropolis to the British Museum.
  • foxinsoxukfoxinsoxuk Posts: 23,548

    Tsipras and Syrizia seem to have made no Plan B. No alternative currency plans or contingencies. Game Theory is becoming discredited by them attempting to bluff with no cards in their hand.

    I don't see it this way. There has been a lot of silly and over-simplistic reporting of Game Theory to suggest that because the Greeks know about it they'll get a better outcome, but that isn't what Game Theory means.

    To be simplistic myself Game Theory demonstrates how both parties to a conflict can get worse results than they would have got if they refuse or are unable to co-operate and so reach the optimal outcome. The Greeks have taken this knowledge and ... refused to co-operate and got a worse outcome.

    Seems like Game Theory in action to me!
    Yep. It seems knowing the rules of the game does not always win the game!
  • MarqueeMarkMarqueeMark Posts: 52,952

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    Economic reality being a permanently overvalued currency that sucks in imports and makes exports (including tourism) harder; a bailout that bailed out French and German banks but not the Greeks; and forced asset sales to foreigners who will withdraw profits from Greece. Yes, it is, as you say, a bitch.
    And that translates into "It kills people. But I expect you find that amusing, MM." how, exactly?

    I'm sure you find it hard to see your fellow leftist dreamers having to confront stark reality. But it was those same leftists overseeing the collapse in the Greek economy - and the consequential difficulties in importing medicine - that "kills people". Hardly a laughing matter.
  • williamglennwilliamglenn Posts: 52,303
    edited July 2015
    Sean_F said:

    That EU referendum may just have become much harder for Dave to win.

    My guess is that recent events might cause some people on the Left to reconsider their support for the EU.
    Yes this is the big change on the Left. Looking at the Twitterati, Germanophobia is the new anti-Americanism. If Greece doesn't turn the corner soon it will toxify the EU significantly.
  • kle4kle4 Posts: 96,591
    Scott_P said:

    @BBCr4today: Greece agreement "practically under the threat of the political murder of our economy" - Syriza MP George Katrougalos http://t.co/6alCMYjATo

    More like the economy was being held hostage and tortured by Syriza, then the police of the EU came in, but they're really crappy police, didn't know who was hostage or kidnapper, so shot them both so at least the neighbours could get some sleep for a bit.

    And on that tortured metaphor, good day.
  • SandpitSandpit Posts: 55,036
    Sean_F said:

    That EU referendum may just have become much harder for Dave to win.

    My guess is that recent events might cause some people on the Left to reconsider their support for the EU. One of my local MP's is Kelvin Hopkins, who's a prominent Out campaigner, so unusually, the local Out campaign may be Labour-led.
    Over the past 20 years the EU has kept the Left here happy with its emphasis on social protections, leaving the opposition to it mainly on the Right. The Left are certainly waking up to the fact that this socialist Utopia is about to throw Greeks under the bus, opposition to the EU in the British referendum will certainly now be from all sides.

    I quite like the idea of Jeremy Corbyn and Dan Hannan sharing a stage, both very eloquent speakers arguing for the same side - from very different points of view!
  • AlastairMeeksAlastairMeeks Posts: 30,340
    I'm surprised that Mr Tsipras has apparently capitulated. It may well be the best outcome available for Greece but it certainly isn't for him.
  • The_ApocalypseThe_Apocalypse Posts: 7,830
    Tspiras, JFC how badly he miscalculated this one. As for the EU referendum, I actually doubt this will effect it. What is needed for the NO campaign to win, is a coherent argument regarding how Britain can be prosperous outside of the EU. The EU has pretty much had lots of bad publicity over the years, and yet the recent polls have shown IN to be winning signifcantly - although, given the accuracy of the polls, we should treat those figures with caution. One thing this has shown me, is how badly deluded a large part of the Left actually is, and if those online are in anyway representative of those within Labour, how completely far the party is from power.

    I can't honestly believe the hyperbolic nonsense from some regarding a 'Fourth Reich' 'Germany's reputation in tatters' etc. Comparing Merkel to Hitler FFS. This victimization of Greece, mainly from the Left and Ukippers is ridiculous, you'd believe countries are deliberately punishing Greece. This whole saga is one of broken trust, largely as a result of Tspiras stupidity. But the likes of France, Italy etc will learn in months down the line, when groundhog day occurs, for the fourth time, and Greece are asking for a fourth bailout.
  • Scott_PScott_P Posts: 51,453
    @SunriseIsabel: It will not be easy for @atsipras to pass this legislation given last weeks referendum and the mandate Syriza was voted in on. End of party?
  • Scott_PScott_P Posts: 51,453
    @mattholehouse: Merkel says 17-hour talks with Greece was "businesslike". Other figs described as "waterboarding"
  • SouthamObserverSouthamObserver Posts: 39,672

    Greece - welcome to economic reality.

    It's a bitch, ain't it?

    Economic reality being a permanently overvalued currency that sucks in imports and makes exports (including tourism) harder; a bailout that bailed out French and German banks but not the Greeks; and forced asset sales to foreigners who will withdraw profits from Greece. Yes, it is, as you say, a bitch.
    And that translates into "It kills people. But I expect you find that amusing, MM." how, exactly?

    I'm sure you find it hard to see your fellow leftist dreamers having to confront stark reality. But it was those same leftists overseeing the collapse in the Greek economy - and the consequential difficulties in importing medicine - that "kills people". Hardly a laughing matter.

    No, austerity destroyed the Greek economy. That has been in place for a number of years, not just for the last few months. The decision to allow Greece to join the Euro in the first place was enabled by that bastion of left wing thinking Goldman Sachs and approved by a variety of governments of all political colours, as well as a coterie of highly-paid bankers. Taking pleasure in the misery of millions out of some ridiculous notion this is all about incompetent lefties is not a great look.

  • Scott_PScott_P Posts: 51,453
    @afneil: Merkel emphasises European trust fund holding €50bn Greek assets not under Greek control. German plan and used to get deal thru Bundestag
  • MarqueeMarkMarqueeMark Posts: 52,952
    Greece was little to do with Game Theory. It had more to do with Greece playing Russian roulette. And the effect of the Referendum was to change from playing with a single round to having five.....when only the Greeks were pulling the trigger.

    Will the Greek Parliament acquiesce? I can see many MPs refusing to attend the vote. At best. At worst, they vote to pull the trigger one last time. Better dead than see all your economic assets handed over for an EU fire sale.
  • ydoethurydoethur Posts: 71,780
    edited July 2015
    kle4 said:

    Wow...tspiras really has messed up, hasn't he? Manages to negoiate terms worse than what was on offer before.

    There are many ways to judge the competence of a political leader and the efficacy of their tactics, but that sort of summary speaks volumes about the sort of job he's done, even recognising how few options there were.
    Indeed he has messed up. It was Tsipras' posturing that made the terms of the deal worse. By not accepting what was on offer, he wrecked the Greek banking system, turning crisis into catastrophe. By doing so, he made sure those terms were no longer applicable. By insulting the people trying to sort out the mess, he forfeited any chance of them being generous. As a result, he has comprehensively screwed the Greek people. Even Ed Miliband would have done better than this.

    Can I please point out to those who are talking about can-kicking that actually, despite the Eurozone's comments, we do not have any sort of deal yet. First of all, these are only proposals that need ratifying by national parliaments. The odds of getting it through the Greek and German assemblies appear no better than 50/50 at the present time. Indeed, the speaker of the Greek assembly has already more than hinted that she will try to block it. Second, even if it does go through it will take too long to sort out to rescue the Greek banking system, which means that there is a real possibility that it will become irrelevant before it can be implemented. Thirdly, the only concrete agreement so far is to start negotiations on bridging finance for the banks - which is three weeks too late and will take at least ten days to put in place if it can be agreed at all.

    So the crisis is not over by any means - in fact, it may be about to kick off properly. What we have, in a very EU fashion, is a very dishonest statement to try and restore confidence.

    I've been swinging between In and Out for some years on the EU. The last three weeks and especially the last 48 hours have started pushing me very firmly towards Out.
  • The_ApocalypseThe_Apocalypse Posts: 7,830

    Sean_F said:

    That EU referendum may just have become much harder for Dave to win.

    My guess is that recent events might cause some people on the Left to reconsider their support for the EU.
    Yes this is the big change on the Left. Looking at the Twitterati, Germanophobia is the new anti-Americanism. If Greece doesn't turn the corner soon it will toxify the EU significantly.
    Yep. According to the Corbyn Left, Germany are pretty much evil Nazis now. Saying we should boycott German products, stop investment/trade with Germany etc.
  • CharlesCharles Posts: 35,758
    FalseFlag said:

    I do hope so:

    “As a consequence of you being here [Heathrow North Runway], you are causing severe disruption and it will be in the millions of pounds because it will take us a while to remove you.

    “The cost will be in the couple of millions. The airport will attempt to make a civil recovery.”


    http://www.theguardian.com/uk-news/2015/jul/13/heathrow-disruption-climate-change-activists-claim-chained-runway

    Perhaps the Spanish and Arab owners of Heathrow can compensate the residents of West London whilst they are at it since they lobbied to increase flights and earlier take off and landing times.

    870m from revenues of 2.7bn seems very high for a regulated industry.
    http://www.telegraph.co.uk/finance/comment/11718158/Party-politics-will-see-off-a-third-runway-at-Heathrow.html
    The regulators look at return on invested capital (which would show up in the balance sheet and cashflow) rather than profit margins. Profit margins only show the operating costs, not the investment required to build the infrastructure
  • SquareRootSquareRoot Posts: 7,095

    Sean_F said:

    That EU referendum may just have become much harder for Dave to win.

    My guess is that recent events might cause some people on the Left to reconsider their support for the EU.
    Yes this is the big change on the Left. Looking at the Twitterati, Germanophobia is the new anti-Americanism. If Greece doesn't turn the corner soon it will toxify the EU significantly.
    Yep. According to the Corbyn Left, Germany are pretty much evil Nazis now. Saying we should boycott German products, stop investment/trade with Germany etc.
    I hope Corbyn has a German car that he loves.. Journos will be scrambling to find out what he owns that is German..
  • SouthamObserverSouthamObserver Posts: 39,672
    When a small country negotiates with a much bigger entity without any levers this is what happens. Another lesson for those believing Scotland will dictate the terms of separation following a Yes vote.
  • edmundintokyoedmundintokyo Posts: 17,708
    antifrank said:

    I'm surprised that Mr Tsipras has apparently capitulated. It may well be the best outcome available for Greece but it certainly isn't for him.

    Anyone know enough about Greek politics to comment? I mean, he only barely had a majority when he was staying in the Euro, so wouldn't he have been out on his ear if he'd left? Whereas now his potential majority is everyone except Golden Dawn and 1/3 of Syriza.
  • Scott_PScott_P Posts: 51,453
    @rosschawkins: As we stand Harman still planning to make case for accepting child tax credit change at Labour MPs' meeting tonight

    @rosschawkins: Team Harman saying she's happy for new leader to reverse her stance on tax credits. One l/ship contender src says: that's nice of her
  • Scott_PScott_P Posts: 51,453
    @afneil: So most left-wing government in Europe has just agreed to €50bn of state assets to be privatised -- and process won't even be in Greek hands
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