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Rumors Of Greek Prime Minister's Resignation Are Greatly Exaggerated (If Completely Warranted)
Rumors of Papandreou's resignation as Greek prime minister have been swirling all morning, and adding to the swirling a la carte buffet of false news coming out of Athens. However, as of now, that particular rumor is being refuted: the Prime Minister's spokeswoman has just announced that "the PM has definitely not resigned." We give him until the earlier of the two: i) the new 10 Year GGB come to market with an 8 handle, ii) crippling strike causes Greek foreign trade to drop by 120% (net of pervasive tax "efficiencies" within the Greek nation).
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One really must understand how to read this propaganda.
"the PM has definitely not resigned."
Yet!
Deny. Then deny the denial. Then state what everyone already has been conditioned to believe by the denials.
denying the denial ^ infinite.
No financial aid for Greece planned, German lawmaker says - DJ
The positive thing over this Greece debacle is the problems are being forced/faced upto,
The negative is Greece is not alone.
The Germans will install their own Reichsführer in Greece. Heinrich von Herrenberg or whatever.
Should be good for another 500pts on the Dow.
I actually feel bad for the guy . He is cornered no matter what he does under these circumstances the people of Greece will hate him . He can leave the EU and he will be forced to make the same cuts after the fact .He can stay with the EU and he will have to make the cuts .He can go to the IMF they will force cuts. It's obvious this man can't deal with the reality that there is no choice but to make those cuts on people who don't deserve to pay for this .
Well the austerity cuts won't solve the problem. So the choice is rather easy.
Of course what follows would be very difficult to deal with given Greece being in the Euro and incapable of issuing its own currency. (plus their debt being in euros)
But overall these austerity cuts would last years (until the system is replaced), the benefits of these cuts....buy Greece one slightly less awful bond offering. When it comes to their overall debt, it won't change nothing. (especially when whatever cuts will be rigged against it and then more cuts will said to be needed)
Greece would do right by defaulting. Otherwise Greece could be the start of a 90 percent austerity call around the world.....that won't change the fact the system is imploding and if Big Ben and other central monetary bankers print, it goes from a black hole to a nuclear bomb.
There is definitely a choice, but with so much bs swirling around, the most important thing it seems to them is to keep the scam running. How do they do that? Austerity measures per bond issuance. Could be a start of a big worldwide trend. If we're idiots.
We'll give you 10 billion in bernanke bucks, freshly created out of thin air. Just like all the other scams that rose prices for you, thus neccisitating this loan. You, just cut wages by 30 percent, as a starter. If you need money again, get ready for more. Don't you know it's the new pay-go. You want more bernanke bucks, you have to give up social spending. Completely insane. The yellow stream media will back austerity.
ISM manufacturing rises on increased financial activity..Employment index rises most though only 2 of 18 reporting industries report hiring..These things are a joke
arse meister
Papandreou is a Bilderberger.
Therefore he will stay in office as intended.
actually papandreou is not doing that bad of a job for a dumbass. I heard he wasnt that smart in college and his former classmate, which now heads the rival party, was a much brighter student. Anyway papandreou has inherited most of these problems from his dad, Simitis, and the prior administration, which was headed by a real dumbass bonehead, Karamanlis. The funny thing is that dumbass outsmarted Papandreou by stepping down ad handing this mess to him.
wouldn't put it past him if after these measures he still doesn't get EU money and has to go to the IMF. Havings said that, he is preparing the public for the "IMF alternative" saying that "we can't close any doors". The IMF would not go down "lightly" in Greece and there would certainly be riots (to put it lightly) in due course. Looks like a disintegration of the larger EU is in progress and the Germans are content to ringfence the core of Europe. Initially that should be a negative for the Euro after theis short-covering is over. When do stock markets tumble?
Greeks have to face the music. No more living in Hollywood. They can strike, bitch at Papandreou, but it isn't his fault or the fault of his administration. The party is over, bite the bitter pill and get back to basics. The Greek PM will not resign so get that thought out of your heads.
I'm not so sure Leo. Having taken austerity measures as a socialist - the exact opposite from his father that got Greece into this mess- how do you think he would feel if he gets no money from his "partners?" All while riots start multiplying in the streets (my prediction) against the US-based IMF? He's enough of a bag-holder already having called for early elections and taking over the mess that New Democracy left the country in. Do you really think he will go through with this as the "IMF-enforcer?"
I hope they avoid any IMF "solution". Germans and French look at the IMF with disdain, so I doubt they will want Greece to take that route.
so do i leo, but zenon got it right. why did papandreou get elected and why did "bouli the idiot" just walk away? Because they knew that the only chance for austerity measures to be passed was that if PASOK (the son of Andreas) introduced them to the people. That was the gambit all along, to have the son of Andreas sell the Greeks on the austerity. The IMF has been behind this since the elections last year.
So, what happens if Greece defaults. As I understand it, this is declaring debts to various banking entities as null and void. The ramifications are that it will not be able to float loans at anything but extremely high rates, exactly what they are going to be doing anyway. So, if Greece defaults, will the banks/international financiers/ be the losers?
(I kind of like that concept. The banks did the con set up to governments that just loved to take the perks while leaving the debt to the public, who will have to live with self imposed austerity, anyway. It just seems that the bankers are again the "anointed by god" and must be kow towed to no matter what. I think they really need a good, worldwide lesson in risk.) AJMHO
Exactly NR--that's the move, just default.Quite frankly, I'm disappointed by the Greeks, I had them pegged as a smarter lot. Overthrow those dumbasses in the government, put them all in jail, royally screw the money lenders, and get your country back
Most of the Greek people want Greece to default,get out of the Eurozone and let the Germans put our bonds into their a@@@s
but the problem is geopolitical
what happens if the Turks take advantage of the situation?
If Obama guaranties uor safety until we get to our feet again,we get out of the Eurozone even tomorrow.
Yeah I thought of that too. Turkey is a problem only if the Americans want it to be cause if you end up screwing the money lenders; you're screwing the people that run the USA. Anyway, Ertugan is not an unreasonable man and he just locked up 51 generals and among them the "old ataturks" IMO if the Greeks default the remaining "PISI" follow suit and you guys end up looking like heros. Ertugan is not a problem I think, he's negotiable plus he's looking to make a name for himself.
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