The Black Swan NO ONE is Talking About: Germany’s “Plan B”

Phoenix Capital Research's picture

While the Second Greek Bailout may or may not be complete (depending on whether we get a credit event as a result of it), Germany can and will walk from the Euro if it needs to. This is the unforeseen black swan everyone is ignoring.


Obviously, Germany wouldn’t want to do this as it would result in Germany being blamed for the Euro failing. So thus far, “Plan A” for Germany has been to offer bailout funds that are contingent on requirements so unpalatable that Greece or any other PIIG would likely end up preferring to walk rather than submit to them.


Case in point, before the second Greek Bailout German Finance Minister Wolfgang Schäuble proposed that Greece should postpone its April elections as part of the bailout package.


In simple terms, Schäuble is concerned that the unpopularity of the austerity measures being imposed on Greece as part of the second bailout package would lead to a “wrong” democratic choice.


Let that last paragraph sink in for a moment; it’s so outlandish it’s hard to even comprehend. Imagine if a Chinese official suggested the US put off its elections otherwise China would dump US Treasuries en masse and you’ll see what I mean.


Understand, Schäuble is no idiot. He knows that there is no way Greece would go for this. So his comment can only be seen as an attempt to incite a Greek backlash while also winning political points in Germany.


Indeed, those who show themselves willing to play hardball with Greece have seen a huge boost in the polls (Merkel recently saw her approval ratings hit their highest levels since her re-election by doing this). Schäuble is obviously taking a page from her playbook here.


We should also take Schäuble’s statements in the context of Angela Merkel’s recent backing of Nicolas Sarkozy’s re-election campaign in France against hardened socialist François Hollande, who wants to engage in a rampant socialist mission to lower France’s retirement age, cut tax breaks to the wealthy, and break the recent new EU fiscal requirements Germany convinced 17 members of the EU to agree to.


Current polls show Hollande winning the election if it goes to a second round. The fact that Sarkozy’s re-election campaign just kicked off with an MP from his party announcing that the Nazis never deported homosexuals from France to Germany during the Holocaust (hardly a statement that boosts Sarkozy’s chances of re-election) isn’t helping.


Put another way, German leaders, particularly Merkel and Schäuble see the writing on the political wall: that both Greece and France are likely going to find themselves with new leadership that is pro-socialism, anti-austerity measures, and most certainly anti-taking orders from Germany.


Thus, Germany must be aware (as the EU, IMF, and ECB are to some degree) that it is ultimately fighting a losing battle by participating in the bailouts. Indeed, Schäuble has even gone so far as to recently call Greece a “bottomless pit” where money is wasted (having just participated in Greek bailouts that exceed the entirety of Greece’s GDP, he does have a point here).


Schäuble’s statements have not passed unnoticed by the Greeks. Greek politicians have regularly brought up Germany’s lack of war reparations to Greece post-WWII while the Greek media has begun regularly portraying Schäuble and Angela Merkel as Nazis.


So while a “deal” may have officially been struck for Greece, there are deep underlying tensions that could bring the EU to a crashing halt at any point.


Big picture, we must remember that Greece is just the opening act for what’s to come in Europe: Italy and Spain are waiting in the wings to take center stage as soon as the Greece bailout deal is finalized (if this happens… which remains to be seen).


Having seen how ineffective the whole “hand over fiscal sovereignty in exchange for more, cheaper debt/ bailouts” deals have been for Greece, Spain’s already told the EU to “shove” its budgetary requirements. This kind of political tension will be growing between EU members in the coming months as Ireland, Portugal, Spain and Italy all start showing their hands at the EU poker table.


Germany is aware of this, as well as the fact that there is no way German voters will go for bailouts of any more of the PIIGS (even if Germany, the IMF, and ECB had the funds to bail out Spain or Italy… which they don’t). This is why Germany has decided to play hardball with Greece. It’s also why Germany has put into place a contingency plan that would permit it to leave the Euro if it had to.


What is Germany’s “Plan B”? Leave the Euro but remain in the EU (maybe).


If you don’t believe me, consider that in the last six months Germany has:


  1. Passed legislation that would permit Germany to leave the Euro but remain a part of the EU
  2. Reinstated its Special Financial Market Stabilization Funds, (or SoFFin for short)


It is the second of these items (the reinstatement of the SoFFIN) that the western media and 99% of investors have missed entirely. In short, Germany has given the SoFFIN:


  1. €400 billion to be used as guarantees for German banks.
  2. €80 billion to be used for the recapitalization of German banks
  3. Legislation that would permit German banks to dump their euro-zone government bonds if needed.


That is correct. Any German bank, if it so chooses, will have the option to dump its EU sovereign bonds into the SoFFIN during a Crisis.


In simple terms, Germany has put a €480 billion firewall around its banks. It can literally pull out of the Euro any time it wants to. The question is whether its current EU power grab is successful. If it isn’t… and other EU nations refuse to play ball (like Spain has started to) then Germany could very easily leave the Euro.


This is the black swan no one is talking about. If Germany bails on the Euro, the EU will collapse. It will be Lehman Brothers times 10 if not worse.


I recently published a report showing investors how to prepare for this. It’s called Surviving a Crisis Four Times Worse Than 2008 and it’s chock full of information on how to not only survive but thrive during if this particular black swan (or any of the others lurking in the system) comes to pass.


This report is 100% FREE. You can pick up a copy today at: under the OUR FREE REPORTS tab.


Good Investing!


Graham Summers


PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s a US Debt Default, runaway inflation, or even food shortages and bank holidays, our reports cover how to get through these situations safely and profitably.


And ALL of this is available for FREE under the OUR FREE REPORTS tab at:







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Currency is Debt's picture

All of this is bullshit. Germany may leave or it may not. Who gives a fukk, they will arrange shit how they like. However they arrange it be sure they will be in position to gain and you will be in position to get shafted.

They are following through with a flawed supra-national unification system , NWO style - if we have 25 Politicians in the same building every week we can decide what to do 'together' - rather than if all the states are scattered and not in uniformity.

They say it is flawed, we say its flawed, many astute investors are in agreement. But they wont stop, why? Bcos they are leading us down a black tunnel, with the promise of light, when you reach the end of the tunnel they will beat you, kick you out of your house, rob you - they will take everyones shit - they will grow even more extravagantly rich - while 'we' the sheeple will have to pick up our beaten down ass from tarmac and start over again after having been smackdown. Then we will continue hope for a better system on ZHedge and to try to go long in booms, short in busts.

Zero Govt's picture

Sarkozy can't cut a break

He rolled up to the France v England rugby match on Sunday and they lost (at home) 22-24

Sarkozy is toast (and so is France when the Marxist left gets elected)

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No idea. You rarely come across them on the 'net.

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tony bonn's picture

excellent report....the euro is doomed....

goldinpenguin's picture

Sarkozy’s re-election campaign just kicked off with an MP from his party announcing that the Nazis never deported homosexuals from France to Germany during the Holocaust (hardly a statement that boosts Sarkozy’s chances of re-election) isn’t helping.


Did the Nazis need more homosexuals to entertain the troops?

Blue Horshoe Loves Annacott Steel's picture

Maybe Sarkozy’s re-election campaign just kicked off with an EMP?

Sandmann's picture

This Stabilisation Fund passed the Bundestag October 20 2008   and is modelled on UKFI set up in 2008.  It is basically a vehicle to recapitalise Banks and the intention was to do so forcibly as in the UK.

UK Financial Investments (UKFI) was created in November 2008 as part of the UK’s response to the financial crisis.

UKFI is responsible for managing the Government’s shareholdings in The Royal Bank of Scotland Group plc and Lloyds Banking Group plc, collectively the “Market Investments”. UKFI is also responsible for managing the Government’s 100 per cent shareholdings in Northern Rock plc and UK Asset Resolution Ltd (which was formed during 2010 to integrate the activities of Northern Rock (Asset Management) plc and Bradford & Bingley plc), collectively the “Wholly-Owned companies”.

UKFI is a Companies Act Company (Company no: 6720891), with HM Treasury as its sole shareholder. The company’s activities are governed by its Board, which is accountable to the Chancellor of the Exchequer and – through the Chancellor – to Parliament.

German Version

The Fund shall serve to stabilise the financial market by overcoming liquidity shortages and by creating the framework conditions for a strengthening of the capital base of institutions within the meaning of section 1(1b) of the Banking Act, of insurance undertakings and pension funds within the meaning of section 1(1) numbers 1 and 2 of the Insurance Supervision Act, of investment companies within the meaning of the Investment Act as well as of the operators of stock and futures exchanges and their respective parent enterprises, insofar as these are financial holding companies, mixed financial holding companies, insurance holding companies or mixed insurance holding companies and the abovementioned enterprises have their seat in German


It is nothing special and certainly does not have sufficient capital to rescue the Bundesbank



kaiserhoff's picture

Shit and Shinola.

I understand that my Cousins don't want to be blamed for the break-up of "EUROPE".

They've been blamed for everything since the assassination of Archduke Ferdinand, but WTF?

Get over it, get on with it.  STOP THE BLEEDING, and get back to the sort of half-assed euro-capitalism which almost works.

Major Priapus's picture

Cuttingedge - this may interest you.

There exist conspiratorial overtones to this latest Der Spiegel article - a new-age "stab-in-the-back" as it were:

Rift Grows Between Germany's Bundesbank and ECB,1518,819255,00.html

ECB President (Super-Mario) Draghi is out Bernancke-ing Bernanke by creating creating a flood of fiat Euros ex-nihilo. 

Of course, the first law of economics dictates there is no such thing as a free lunch. 

Yet, Germany is supposed to believe that as long as it sits at the Euro-table it will never need to pay for its share of Daghi's largesse.

Draghi failed to reckon with Germany's innate fear of inflation and history could prove he provided the final impetus to break Germany's resolve to stick out the Euro-experiment.

Major Priapus's picture

Let's construct a simple syolgism:

Germany's Merkel maintains that there can be no alternative to Euro Zone members respecting rules as mandated by the Eurocrats in Brussels.


Spain has two years in a row failed to attain such mandates and appears to be replaying an uncanny and identical reprise of the Greece tragi-comedy with but a 10 month delay.  Ditto Portugal and Italy.

It gets worse.

France is playing skipper to this ship of fools - its blance sheet is little better!

Conclusion - Germany's conditions cannot be met - therefore the Eurozone cannot continue as is.

Of course - pundits can always resort to the rebutal of last resort - viz. that Germany will always vote according to its pocket book.

Such a line of reasoning would be incorrect for a few reasons.

The first has sinister racist undertones - Spain, Italy and Greece have become de facto portals for economic refugees fleeing Africa's "Arab Spring Revolutions".  German tolerance and patience has been stretched beyond the breaking point.

Luminaries such as Sean Corrigan are already prognosticating such a "gathering storm" no differently than Winston Churchill a generation ago.


JamesBond's picture

The first has sinister racist undertones - Spain, Italy and Greece have become de facto portals for economic refugees fleeing Africa's "Arab Spring Revolutions".  German tolerance and patience has been stretched beyond the breaking point.


Pot calling kettle.  

Have you never heard of Germany's 'Turk' issue?!?

Gold Dog's picture

Was it over when the Germans bombed Pearl Harbor? Hell no!

This bullshit will play on for some time to come!



Savyindallas's picture

Everyone knows we provoked the germans.  And we all know the titanic was carrying weapons over to Europe when Mussolini torpedoed the sucker.


NoClueSneaker's picture

480 Bn €  firewall ain't wort a shit ....

Germany is far behind the point of no return.

my 2c

Watson's picture

It seems to be a common belief that if Germany pulled out of the EZ, then the damage to Germany would be the same as to all other EZ countries.
And for that reason, Germany won't pull out of the EZ.

That belief is, simply, wrong.

If Germany leaves the EZ, it goes back to an environment in which it was very successful over many years. Exports are harder (but don't forget imported raw materials get cheaper), but that's all. Germany was in a situation like that fairly continuously since the 1950's until the EUR. Germany, generally, prospered, thanks to honest hard work and the production of goods that the rest of the world (not just the EZ) wanted to buy - usually because of sheer quality.
It would certainly be no catastrophe.

However, if Germany leaves the EZ, the implicit German guarantees on the rest of the EZ vanish. Which strengthens the Bundesbank, but also means Greece, Spain, Portugal (possibly also Italy and Ireland) go into a state of total financial chaos.

And the ECB implodes.

trilliontroll's picture

"If Germany leaves the EZ, it goes back to an environment in which it was very successful over many years."

In case you missed it, Germany is already "prosperous" in terms of export surplus.

The problem is not to have a surplus but  solvent deficit countries as  counterparts .

The only way this would be solved with Germany leaving the eurozone would be floating

currencies , which means nothing more than trade deficit reduction by printing more

money by deficit countries.  So you would replace unsustainable debt in the eurozone

by unsustainable exports ,as the other currencies would constantly devalue.

Or you would go back to the "currency snake ":

"After the demise of the Bretton Woods system in 1971, most of the EEC countries agreed in 1972 to maintain stable exchange rates by preventing exchange rate fluctuations of more than 2.25% (the European "currency snake")."

( )

This would only be a weaker version of the EURO with still some kind of fixed exchange

rates. In fact, since WW2 there has not been a free exchange mechanism to compensate for German trade surplus.

Watson's picture

...unsustainable exports ,as the other currencies would constantly devalue.

With respect, I do not think you are looking at the *whole* situation from Germany's point of view.

Germany does not just export to the EZ, it exports to the entire world.

I agree that if Germany goes back to the DEM then both of the following are true:
1. Germany will sell less to the EZ (in fact much less, because I expect total chaos in at least three EZ countries if Germany leaves);
2. Germany will probably sell a bit less to rest of the world (ex the EZ).

The point is that the effect on Germany is *bad*, but only *bad-medium*. Germany has lived with a steadily appreciating currency before, so can do so again.

The effect on the EZ is much, much worse - it will probably break apart. The three countries mentioned earlier will probably revert to dictatorship.

Germany does not need the EZ anything like as much as the EZ needs Germany.


Major Priapus's picture

According to the thinking of alarmed Germans on the street - you are exactly correct.  In many ways the Euro-experiment represented an absolution of German sins - sins of a previous generation.

Germans today feel less and less the obligation to atone for a past they personally never participated in - and feel more and more the the urgency of preservation of identity and culture. 

This is the real elephant in the living room - political correctness be damned!  German politicians are dropping the charade and addressing these concerns. 

There are long-term priorites more important than a short-term increase in cash flows...

Wishing it were otherwise will not make it so.

supermaxedout's picture

What are the facts and what are the options for Greece. And what does this mean for the Euro.
First of all its a pipedream that Germany is leaving the Euro. It would be just the same as the idea that the US are leaving the Dollar.  The Question is different. Can the Europeans (except UK) manage to keep Greece within the Eurozone or does Washington and London have the upper hand and Greece is seperating itself from the Euro and thereby from the influence of the ECB and Eurolands policy and strategic goals. 
Fact is, Greece is a corrupt mess starting from the heads of the state and the so called elite, which is simply an oligolic family group holding a power grip on Greece.
These super rich families, Onassis, Niarchos, Papandreou and whatever is their name acted in the past  in close cooperation with the military junta and was backed by strong UK and US interest in the region. The island of Cyprus is like an giant aircraft carier controlling the flows of oil and all other goods coming in and out of the Suez Canal as well as the traffic  in and out of the Bosporus in front of Istambul the only  naval gateway to the Black Sea. The Black Sea region as well as the neigboring Caspian Sea region is the region where the US lost an important battle (war in Georgia) against Russia over the controll of the fossil fuel riches in this region.
So Greece is of enormous importance for the US strategy to control the worlds energy flows. Therefore it does not like, that Greece is developing into a more democratic society , away from the easy to control oligopolic structure.  This would be of huge disadvantage for the US interests.
Besides its strategic importance,  Greece  is at the same time,  a very near future high potent energy producer. A producer  which is closely located to the very huge European market.  So there is lots of profit to be made since it is very easy to bring these riches to the consumers in Europe.  Greece's energy resources consist mainly out of a gigantic natural gas field located mainly within the waters of Grece and Cyprus. This gas field stretches form the Greek waters, to Turkey, Syria, Libanon, Israel and the Gaza strip.
And this is where the problems starts. Imagine Euroland pumping out of the ground a huge part of its own energy needs without the need to use US Dollars for payment. That would be the death stroke for the US Dollar since there would be by nature of its own a situation occur, that energy in Europe is priced in Euros parallel to prices in US Dollars.
The options:
1) The US and UK succeed with their strategy  to keep Greece within their sphere of influence. This plan has the backing from the present ruling oligopol in Greece. The families which are members of this oligopol could continue to suck honey under the protection of the US and UK guns. However, the bulk part of the riches of Greece would in this case flow to big oil such as BP etc.  . Only little of these riches would find their way to the bulk of Greece's population. 
2) The population of Geece is not stupid and as a matter of fact many Greeks know quite a lot about this situation and also what could be the role of the EU especially Germany  in this game. Many Greeks have personal contacts and relatives living in Germany so they know the advantages and disdvantages of both sytems. The Greek system bankrupt, corrupt and simply not functioning.  On the other side the German system, somehow strange to them but the advantages are clear to see.  The main advantage of the European system of which Germany is a leading representative lies in the fact that most countries in Europe are true democraties while Greece hasn't reached this state, despite the fact that Greece was the birthplace of democracy. Greece is still suffering from its past under a military dictatorship which ended officially just twenty years ago or so. The system that followed this dictatorship directly and without mayor upheavals is the present one.  As it is common knowledge to become the elected leader of Greece is even today more a matter of familiy ties and other networks. 
So Greek is now in the midle of a gigantic power play and poor Greeks are suffering and held hostage to the strategic interest of US and the UK. The moment the US would give the Greeks the permission to drill for the gas riches of Greece and would further give permission to Greece to stay within the Eurozone and sell this gas within the Eurozone for Euros,  that my friends would be the start into a better future for the ordinary Greek. But its hard  to see on the horizon. 

Phat Stax's picture

Nationalism seems to be rising.  What happens when that happens....anyone? ...anyone?

kaiserhoff's picture

Israel's puppet regime in Amerika attacks Iran????

Savyindallas's picture

If te elders of zion order the attack  -it's a done deal. Americans will go for it whole hog  - we do as we are told. We are goddammed good zombie pod people--reliable as hell. 

i-dog's picture

This is not the 19th century. Wars are now fought by the Global Military Machine™ against any displays of nationalism. Nationalism is anathema to the NWO, so we should be encouraging more of it ... just as we should be encouraging sustainable local communities rather than central planning.

In a world of MAD (nuclear, bio, chem), wars are only fought by the insane against the weak - ie. NATO against brown people.

NoClueSneaker's picture

Particularism in common. Let's play :

Ratzinger : " The catholics r only true christians "

Protestant church: " .... intelligent design "

Bayrn ( cash ) vS. Prussia ( belly up ) ....


The best place to watch a deathmatch would be somewhere on the moon, watching the Europe changing color to red.



Debt-Is-Not-Money's picture

Maybe war is what they wanted to begin with?

Problem: Too many "useless eaters"!

Solution: WAR! (includes starvation, pestilence, etc.)

About 90% reduction in world population would be about right.

This planet is the insane asylum for the universe and guess who is running it?

DavidC's picture

Whilst I agree with what Graham has written, I also think that if Germany leaves the Euro, returning to the Deutschemark, two things could happen.

1 - The DM goes up through the roof as a perceived safe haven, causing collapse in Germany as they will be unable to export at high prices, or

2 - the underlying fragile nature of Germany's own economic situation (German banks leveraged up big time, unemployment figures being fudged as they are elsewhere) could lead to a collapse of both the Eurozone AND Germany.

My own opinion of Graham's or mine? Honestly, I don't know.

supermaxedout's picture

Greece is surrounded by enormous natural gas reserves in its parts of the mediterrian sea.. Under normal circumstances this would be a gamechanger for  Greece clearly to the better. 

The problem is, that the UK and US do not like that this treasure is improving the lives of the Greeks. Their plan is to fatten BP etc. and to continue to control these fossil fuels because this control is the base of power for the US.   UK and US are controlling this area from Cyprus and do not want to give it up. Israel is also heavy involved because the giant gas field starts in front of Israel and poor Gaza strip.. Another big chunk of this trerasure lies in front of Lebanon and Syria thus explaining why a regime change in Syria is so welcome for the US/UK. Turkey does also want to have its share.

And now the time is getting short. Europe is already busy going away from gasoline to natural gas for transportation. In the Netherland and Belgium already more than 50% of the cars run on natural gas. And now this trend is affecting also more and more the rest of Europe.   The question now is who is going to deliver this gas to Europe?  Greece would be best positioned since it is already part of Europe, but that would create a situation were energy prices are fixed in Euro not in US Dollars.  This has to be avoided by all means. 

So there is a wrangling and wrestling over the enormous riches of Greece while it is highly doubtful that something of that whealth is ever reaching the ordinary Greek. This is not meant for him, this is meant for other, more powerful parties.  And these powers do not intend to loosen their grip on Greece. So there is no help to be expected nor any constructive develeopment in the near future while the population of Greece is the hostage and victim.

Jstanley011's picture

Interesting. Interesting too, to search: mediterranean natural gas reserves map

i-dog's picture


"Greece is surrounded by enormous natural gas reserves in its parts of the mediterrian sea."

Some context:

1. The total reserves in the Eastern Mediterranean are estimated at just 12 months of world natgas consumption - ie. it's not an oil (or any other) replacement.

2. The fields are south of Cyprus and close to Israel - a very long way from mainland Greece and the Aegean. Greece's claim (to distant Cyprus and its offshore fields) is hotly disputed by Turkey.

3. The Israeli operators are drilling in 6,000 ft of water to a depth of 24,000 ft. Deepwater horizon was drilling in 5,000 ft of water to less than 18,000 ft when it went tits-up in the Gulf of Mexico.

Just thought you'd like to know that it's not all smooth sailing to a pot of gold at the end of a rainbow.

supermaxedout's picture

But its enough gas there  that Delek group from Israel  bought 1,230 gas stations from Texaco and BP in Benelux (Belgium, Netherlands Luxem. Delek wants to sell the natutral gas.  Nobody knows excatly how much gas is there. But it must be a lot other wise there would be not these wars overthere. 

Delek Europe B.V.

80% held by by Delek Group

Delek Europe B.V., a subsidiary of Delek Group, was established in May 2007 as the European energy retail and marketing assets arm of the Group. Delek Europe initiated its 'Footprint' through its wholly owned subsidiary Delek Benelux through the purchase of 870 Texaco gas stations and 410 convenience stores in the Benelux area. In October 2010, Delek Europe has extended its presence in Europe when purchased the retail activity of BP in France. As of yearend 2010, Delek Europe network consists of approximately 1,230 gas stations and 935 convenience stores over 4 countries.

With its experience and retail skills Delek Europe has managed to leverage existing assets into profitable and successful networks. Delek Europe is looking to implement its next steps of strategic planning and increase its presence in Europe towards becoming a leading player in the European market.

Element's picture

Hey, they did the very same thing to Ireland re its Nat Gas ... look it up.

Baleful Runes 4 U's picture

"Europe is already busy going away from gasoline to natural gas for transportation. In the Netherland and Belgium already more than 50% of the cars run on natural gas. And now this trend is affecting also more and more the rest of Europe. "

What ?

"Belgium has been a quiet corner of Europe when it comes to natural gas vehicles (NGVs) where there are currently less than 200 of all types of NGVs registered. " from last year

supermaxedout's picture

I was wrong about Belgium.  Nevertheless Natural Gas is the coming thing. Volkswagen and Mercedes as well as other producers in Europe do offer a range of natural gas powered cars (in combination with gasoline)  because the existing net of natural gas stations still has to be extended to drive solely with natural gas). But its a growing trend no doubt.

At last Years International Auto show IAA in Frankfurt Volkswagen, Fiat, Opel, Mercedes Benz  and Audi showed each serial cars with natural gas capabilities. At present there are 800 natural gas stations in Germany. It is expected that soon the number will have risen to 1.200.  See the broschure with the serial cars powered by natural gas.

Natural gas is the future for passenger cares and heavy duty engines.

A technical highlight was presented by Audi which is planning in cooperation with Eon to produce !!!!!    gas for the use in car engines. The kicker is, that surplus electricity produced by windpower parks in the North Sea is used to produce as final product methan gas which can be used to run car engines.   I have no idea how this works but they claim that they can do it.   Since Audi is not known for unrealistic announcements it is well possible that this works well in Germany.

jhm's picture

There is a fast growing nationalism trap in which even sites liek ZH seem to fall into. Germany seen as the evil bastard again, as usual. Need a scapegoat for each and everything, no matter how silly? Take the Germans, they will fit for any occasion. Really, one could think that whole financial mess has started in Berlin.

Maybe if all the honourable commenteers could remember that there are people playing this financial game internationally who do care a shitload on nations, borders or peoples. The moment we all start blaming each other on a nationalism scale these people have exactly what they wish for to get their game played as planned.

We all are ruled by a self-proclaimed elite of bribed greedy heinous idiots, controlled by inhumane bankster rogues. Be it here in Germany, in Greece, France, Italy or elsewhere. Humanity is but a merchandise for these people.

No one in his right mind here in Germany wishes to be part of that awful play unfolding before our very eyes, but we are all caught in this drama. A lot of people here look to Greece in silent angry shame and heartfelt sympathy for the Greeks, we are bewildered what is done in our name, but still we have not yet reached the point were "enough" is heard on the streets.

Bendromeda Strain's picture

jhm, as you can see from the green response, you may be misreading the tone of ZH posters.

my puppy for prez's picture

I don't blame Germany for not wanting to keep contributing to the black hole that is the EU and Euro.  As a Texan, I certainly do not want to bail out California.  

I know the global oligarchs wanted to use this crisis to seamlessly consolidate power in the hands of the financial masters, but I think they forget that when push comes to shove, the people want THEIR country to survive, and not be decimated by a failed ponzi scheme.  

The foundational problem is that, for so many decades, the people of the world have voted for politicians that would bestow them with "goodies", make life easy, which could only be done by borrowing from the crack dealers otherwise known as central bankers.  The politicians stupidly thought that they could go into debt slavery ad infinitum and come out unscathed.

We must ALL learn a lesson that we will not be free until we figure out a monetary system completely independent of the global central banking cartel which chokes the life out of everything it touches.  Pain will most definitely be involved in this process, but it is necessary.  

Amerikka is not far behind, so don't feel too bad.

rwe2late's picture

The foundational problem is that, for so many decades, the people of the world have voted for politicians that would bestow them with "goodies"

Really? The "foundational problem" is that people have chosen to "vote" for the (wrong) politicians who have bestowed the "voters" with "goodies" such as empty promises, wars, and bankster handouts?

Apparently having to choose among politicians vetted, promoted, and paid for by the ruling oligarchy is not a problem to you.

(and yes, I think blaming the evil deeds planned and directed by a few on the "voters" for being duped and deceived and failing to revolt is tantamount to blaming the victims)

falak pema's picture

+100. Don't listen to this Oligarchy shill muck racking and playing divide and rule on the Titanic; keep your eye on the ball and go find your life jacket!

robertocarlos's picture

What's plan D again?

espirit's picture

Stack phyzz, stack food, stack boolits.

Wash, rinse, repeat.

CuttingEdge's picture

Be a bit difficult for Germany to extricate itself any time soon:,1518,818966,00.html


Oops Herr Schäuble - better start addressing that elephant in the room before the DM printing presses start rolling...

FinsterMonster's picture

This is why I read ZeroHedge comments, once in a while you find a diamond in the comments!

Thank you Cuttingedge!

I agree, Germany will not step out anytime soon. Not willingly anyways.

Major Priapus's picture

Speaking as an alarmed German - I beg to differ!

Germans are becoming quite uncomfortable with the Euro-experiment for a few reasons.

One reason has sinister racist undertones - Spain, Italy and Greece have become de facto portals for economic refugees fleeing Africa's "Arab Spring Revolutions".  German tolerance and patience has been stretched beyond the breaking point.

Secondly, German fear of hyperinflation is part and parcel of teutonic DNA.  Germans will not tolerate a reprise of the Weimar debacle writ Euro.

Germans are not stupid: Today's €300 billion shortfall will be double that in a decade.  As Herbert Stein once observed - something that cannot go on forever will eventually stop.  Better to cut losses today; than to witness a reprise of an ultra-right renaissance reminiscent of the Nazis', built on the smoldering ruins of fiscal and monetary collapse. 

Luminaries such as Sean Corrigan are already prognosticating such a "gathering storm" no differently than Winston Churchill a generation ago.


Piranhanoia's picture

I hope you don't mind, but your statement is contradictory.  1.  Racial overtones?   Germany can talk?  ridiculous.  Pay Greece back for what you did during the war, big rich nation.  No?   2.  You won't tolerate a reprise of Weimar?    Yet you are going it now.  You print money to bail yourself out, but that same fictional money wont' go to anyone else?   3.  Ultra right renaissance if you get another Weimar collapse?    If can be substituted for when.

You are being set up as the bad guys because you fit the poster.  You act the part,  sing the part, and do the dance.   Do you think the rest of the continent is going to put up with you dictating terms to them?    You might want to consider just how insanely screwed up your leaders are and what they are marching you toward.  

As an American, I don't have any right to condemn anyone,  but much like here,  you are setting yourselves up as the target for local hatred, and your neighbors can destroy you this time.   Uncomfortable with the Euro you have profited from, but upset about the community to which you belong.   Racist undertones indeed.

espirit's picture

Sunk costs fallacy, I think the Germans understand the concept.

My 2c.