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Greece's New FinMin Explains "This Is What Happens When You Humiliate A Nation & Give It No Hope"
"This is not blackmail," explains new Greek Finance Minister Yanis Varoufakis, "we simply want to end this seemingly never-ending Greek Crisis." In what must be worryingly calm and simple to comprehend words for Brussels, Varoufakis tells CNBC's Michelle Caruso-Cabrera, "this is what happens when you humilate a nation and don't give it any hope." Carefully noting that membership in the Euro is not imperative, Varoufakis concludes "bankruptcy cannot be dealt with by borrowing more," asking rhetorically, "how can I look the German and Finnish taxpayer in the eye and tell them you know I can't really pay you the money I have already borrowed from you..." but lend me more so I can pay back the ECB?
As Varoufakis explains, he believes Europe is willing to negotiate haircuts - anything else appears a waste of time.
(our apologies for the audio quality)
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Bless you.
""bankruptcy cannot be dealt with by borrowing more,"
I like this guy already. Such a simple statement, yet so truthful and easy to understand. And difficult to refute. He needs to keep saying things like this, over and over and over again, loudly and publicly.
A man who can speak so plainly might even convince the Germans of the futility of keeping this up...If he can show them that the only way Greece can repay the loans is to take out MORE loans from the same creditors, the Germans might realize that in fact THEY are funding their own repayment, and maybe some German businessman might stand up and say, "Hey, wait a minute...this is pretty damned STUPID! Write it off and send them on their way! We're only repaying ourselves here anyway..."
The Germans seem to be holding the EU scheme together at this point. It was profitable for awhile but more and more it becomes an anchor around their necks.
Would be awesome to see the UK leave the EU. Greece might leave the Euro but stay in the EU, though that would be a bad idea. No EU -- freedom from volumes of regulations that only hurt Greece.
is it possible?
So you think its possible to convince some people that the CIA/NSA isn't twisting their arm and blackmailing them.
An interesting point of view..
I still don't know if this guy is scheming something or not. The jury is out.
However, if he's being straight-forward then he is simply too honest for politics and should be very careful around nailguns.
It most certainly is not a God given imperative!
First things first.....hang the FUCKING BANKERS!!! HANG THE CORRUPT POLITICIANS!! HANG THEM ALL!!! Then talk about money.
Is this real departure?
Who is knowledgable about this guy?
If they don't hang these corrupt fuckers it's all gonna happen again. HANG THE CORRUPT MOTHERFUCKERS THAT ARE RESPONSIBLE FOR THIS SHIT. They all wanted to be in charge. They all got rich at the expense of everyone else and the misery they created. NOW their time has come. IT'S TIME TO PAY THE PIPER FOR THE CORUPT MOTHERFUCKERS. THEN the country can move on.
Has anyone ever told you, from a distance, you have anger issues?
All things will be accounted for, in time.
They don't call him hangemhigh77 for nothing.
Gulp
Ugh, Mr. Hangemhigh, someone hi-jacked my handle. I will never use Password as my Password again, I swear.
tell me where I'm wrong? In the states it's TREASON. And before I let some lying piece of shit Oboner tell me we need to look ahead and move forward my opinion is we stay here long enough to FUCKING HANG WHO NEEDS TO BE HANGED FOR TREASON. It's that FUCKING simple. That way when we elect some other scumbag crook lying politician to "represent" us we can point to the piece of shit hanging in the tree and say, "Hey yea, we need a senator to represent us great you can be it. You fuck us over and you'll look like that bitch. You ain't gonna be getting rich ripping us off and lying to us anymore. You might be able to do it once and then we're going to hang your LYING CROOKED ASS. Get it?" Enough talk already. THIS is where "talk" has gotten us. Like Mike Tyson said, "everyone has a plan until they get punched in the face". It's time to start pucnhing these fuckers in the face.
Look, we are too far down the rabbit hole for that. As much as I would like to see some kind of accounting against certain individuals, it's just not feasible. The ONLY thing that will right this ship is the complete destruction of this FIN system and the removal of the USD as global currency reserve. And unfortunately, THAT will impact everyone, and in not too kind of a way. So you are correct in the sense that change is needed, it is just the old "careful what you wish for" adage that applies to said change. ;-)
The sooner that it happens then the sooner that we can get through the damned bloody mess and begin rebuilding from the wreckage.
It is like a bad tooth. If you do not go through the pain of having the rot of the cavity removed and your tooth filled then you face a more painful Root Canal.
If you do not get the Root Canal then you will end up getting an extraction. If you choose to delay that pain then you may lose many teeth. If you choose not to go through that pain then you may go septic and die.
The longer which it is delayed the worse the pain shall be and the worse the following consequences will be.
It is like this...Do you want your daughter prostituting for food before you pick up that pitchfork? Or do you ACT NOW before it degenerates to where you have to pick up that pitchfork?
It is not that change is needed. At this point the whole God Damned corrupted system needs to be overthrown.
While I am not advocating a violent overthrow, as peaceful revolutions have happened, if this is delayed much longer then that may be the result, whether or not I like it or support it, you like it, or they do not like it.
It is not a solution. IT IS AN OUTCOME. THERE ARE NO SOLUTIONS. We are not facing a problem but we are facing a PREDICAMENT.
Problems may, or may not, have solutions. But PREDICAMENTS only have outcomes. THERE ARE NO SOLUTIONS.
If you fall off of a Tall building then you do not have a problem. You have a predicament as the outcome will be that you will stop when you hit the ground. You cannot solve gravity. It will work regardless of your desire.
That is the sad reality. I cannot write it more plainly.
Now Greece had a peaceful revolution...if the Finance Minister is legit.
We tried to get Dr. Ron Paul into office, a man who speaks TRUTH. But we failed. The people are not hungry enough for change.
It did degenerate in Greece to where their daughters were prostituting themselves in order to eat. It may have to happen here.
What you can do is to tell this message and attempt to awaken the sheep. But while that seems not to work you are planting seed.
Challenge everybody that you know. Have some fun. Tell them that you are taking out a bunch of Credit Card Debt to pay your debt. Then when they laugh at you for that IDIOCY then TURN IT, and tell them that is what THEY ARE DOING by voting the way that they voted, Democrat or Republican, as it did not matter.
Get in their face. Yell at them. Become OUTRAGED and EXPRESS IT. Tell them that they are a FUCKING LOSER because THEY ARE A FUCKING LOSER. AND SO ARE YOU IF YOU DO NOT DO SOMETHING ABOUT IT...YOU WILL LOSE.
Or you can enjoy watching your daughter prostitute herself. IT IS NOT A FUCKING JOKE.
You can DO SOMETHING ABOUT THIS...instead of critisizing hangemhigh77 for his "anger issues".
In fact YOU HAVE THE PROBLEM AS YOU ARE NOT ANGRY ENOUGH.
Now that is a fucking PROBLEM that CAN BE SOLVED YOU FUCKING LOSER.
I LIKE it...it's harsh, but has a certain dramatic flair...
"You fuck us over, and you'll look like that bitch."...should be part of every elected officials inauguration ceremony, with citizens selected to stand on the podium next to the elected one and recite this to them.
It would help to have an actual ex-official swinging from a nearby tree when this is said, but video footage will suffice in a pinch.
Thanks for watching my back #7. Go get those fuckers.
Not to mention if what these banker crooks and politician liars did doesn't make you angry then you're drinking too much flouride.
Yeah, duechbags like you. Time is up ASSHOLE. Time is NOW. Hang these fuckers. You've had your "all things will" time. Look where it's gotten them.
Well, we've gotten tons of hope over the past several years and that hasn't worked out so well.
Yanis "Veryfocus". They will not pay but will renegotiate, and should ask negative interest loans.
I didn't hear an actually plan in there. Besides, "negoiate". Lots a vague "common ground" talk. Spoken like a true college professor.
" "bankruptcy cannot be dealt with by borrowing more,"
Nothing vague about that. There is also nothing vague about the refusal of the bankers to negotiate.
Ha! They have no choice. If Greece sticks to it's guns, that Troika WILL have to come to the bargaining table. Debt that can't be repaid WON'T be repaid, period. Reality has to slap these folks right across the face.
It doesn't matter WHAT you think of Greece. It doesn't matter that they are all "lazy", or "living beyond their means", whatever...the FACT is, they were loaned money that they had no hope of being able to repay, and loaning them MORE so they can make payments on the old debt is just stupidity.
Those lenders made a very bad call. That sucks for them, and their shareholders, but it is what it IS. Deal with it, and don't be so damned STUPID next time.
Put on your 'big boy pants' and eat your losses already, so we can all drive on.
Here's how you "negotiate" with LYING FUCKING CROOKS..."GO FUCK OFF, you're not getting JACK FUCKING SHIT".
The real culprits are the banks who borrowed the 320 billion Euro to Greece in the last decennium, while knowing that Greece could never pay this back. At that time, the Greecs were riding ther donkeys and picking olives.
And these are the first people to scream about 'moral hazard'!
The hypocrisy astounds me. There are 2 parties to every loan, the borrower and the lender. The borrower cannot borrow that which the lender refuses to lend. The lender is obligated to use due diligence in giving that loan, which includes a reasonable plan for repayment.
If the lender does not, or chooses to ignore the facts about the borrowers financial situation, then the losses are his to bear, and all the screaming about 'unfairness' are irrelevant and ought to be ignored.
The fact that all these Greek loans are being used to REPAY that debt, and not to help Greece, are reason enough to end them.
If the lenders won't renegotiate, including write-downs, then they should be told to go pound sand, because sand is all we've GOT to repay you with now that you've destroyed our economy!
Well, olives too. We've got olives. And Ouzo. What do we owe you again?...We're gonna need a bigger boat, cause that's a LOT of damned olives and Ouzo! Where should we start off-loading this stuff?
Banks went through an orgy of lending to Latin America and some Eastern European countries (e.g. Romania) back in the 70's and 80's. It turned out just like this -- a giant debacle of unrepaid loans. I had a job while in school working at Chemical Bank's distressed loan department -- after the loans failed, there was a market for the debt for pennies on the dollar. Banks buying worthless crap from other banks hoping to get something from it. Basically international "collection agencies".
Bankers and their government pals just can't help it.
Could this be another Iceland? Either way, "hope" just got a shot in the arm over there.
Pens,
Socialist Greece brought on this themselves by electing twisted politicians who promised them the world, joining the EU on a fudged balance sheet, borrowing tons more than they should have & making little effort to pay or collect taxes. And now they elect a Marxist!
The delusional greek population will become disillusioned once again as soon as these guys can't deliver beyond defaulting on those bankster loans.
What a refreshing breath of fresh air! A politician talking completely straight!
Hope he can keep it up. The pressure to tell "necessary lies" will be overwhelming.
"Varoufakis originally wanted to study physics, but gave economics a go at the University of Essex. However, he was within weeks left "aghast" by the "inane musings" of his lecturers and switched to mathematics, before being lured back to do a doctorate in economics at the University of Birmingham."--HP
LISTEN GOOD ( i miss Bangalore ) You cannot DEFAULT ON A FUCKING PONZI! Capiche?
First order of the day for Germany. CLEAN HOUSE
Merkel, fuck off. Pack your bags and leave Berlin. Please push Schäuble with you when you take that train to Neverneverland.
Second order. Assess the damage and see if there's anything left to salvage. If yes, then see if it's worth the time. If not, MOVE ON.
Germany can handle this. We have been stuck between rocks and hard places over and over again.
THIS IS NOT THE END. TIME TO MOVE ON FROM THIS NEVERENDING S.O.B. STORY
Merkel and Schäuble are traitors. If they know what is good for them, they will stick to their hardcore.
GREECE IS OUT. DONE. GREXIT. NOW.
Socialism is tons of fun ....'till the other dude runs out of $$$!
Greece is deluding itself if it thinks it is going to get anything more than token concessions from the EU. If Greece gets another haircut then Italy and Spain will start thinking: "We are much larger and more important countries than Greece. We should be able to get even larger concessions."
So Greece's bluff (if it is a bluff) is going to be called. Which will probably be good for both Greece and the EU.
A Marxist country within the confines of a Socialist EU equals house of pain!
I await the definitive statement from ....
Goldman
Goldman, when no-one else's shit is strong enough
Listen, cocksucker Varoufakis
Cry me a bloody river. No fucking dignity and hope my ass. Isn't that the excuse every thief uses?
Your "nation" stole the money and is now trying to get away with it. Plain and simple. I realize you cannot pay it back, ever. That's one thing. Having to listen to this crap of dignity and hope is quite another. If your nation was really serious about change, you would have drafted every homeless and unemployed youth into a youth group and started labor camps to clean up the fucking garbage and repair some streets.
I tell you what Greece is missing the most. They're missing a German back bone.
Enough of this Greek soap opera. Greeks will never be Germans no matter how hard they pretend. They don't know what real hardship is if it bit them in the ass.
We usually close the Dumb-A** comment polls at 5pm, but noone will top this, shut em down.
A German backbone is usually inserted through the anus of the offending culture.
Have you ever loaned out money and not been paid back? If so, you understand when to give up the collection efforts and cut your former debtor off at the kneecaps.
NO MORE FUCKING MONEY
Was it Citibank who set up the Vulture Loans in the first place?
I knew a Real Estate Broker who used to run a Rent to Own scam.
This Broker would go out of the way to qualify people for a home who could not possibly make the payment.
So the broker would collect a large deposit, earnest money, and when the debtor defaulted then the broker would move to evict and market it again to the next victim. Oh it was perfectly legal but was unethical in my opinion.
This broker sold the home next door to FOUR DIFFERENT BUYER/SUCKERS.
The broker made a cool $20K doing this. But the Fourth Buyer surprised the broker and kept the payments current. So the broker filed complaint after complaint to the county because he was running his Tree Trimming Business out of the home...which was LEGAL. But the broker just kept on the harassment because she wanted to see the Tree Trimmer fail....so she could sell the house again.
Yeah it is pretty fucked up..
Well that is what Citibank did to Greece in the early 2000s if memory serves me correct.
When you personally are stiffed I can understand your personal loss.
But you did not set up your debtors to default...like Greece was set up...or did you?
And if you did set them up to fail then you deserve losing everything.
What a Bankster apologist and FUCK YOUR EU.
The harsh reality! Hairdressers discovering they won't be getting their full government pension at 45!
Who the fuck said they wanted to be German?
When a fire is raging, periodically ignoring and then throwing petrol on it isn't a great course of action. But it seems that you would prefer millions of people to pay, in perpetuity, for the stupidity of a few cunts who reside inside and outside of Greece. Bravo, your ignorance of simple reality is impressive.
The only thing the Greek's wanted from Germany was their credit rating!
Get a sense of reality and get back to me. The damage has been done when Greece cooked the books to enter the EU.
Greeks know this. Corruption is rampant in Greece. Even now their economic numbers are pure bullshit.
So, yeah I double dare them to pull the trigger. They won't and the fucking story will never ends until shots are being fired.
Or until the Germans pave over the Acropolis and put up a BMW plant!
Wow. That was entirely logical and sensible. Therefore it must be ignored at all costs.
Syriza should pass a law outlawing the sale of nailguns in Greece. Just to be on the safe side.
What a negotiator!
Though he says the obvious, his follow on is a non-sequitur. Piling on more debt when a country's government is insolvent and can't collect any more tax revenue, and you can't do this because "this is what happens when you humiliate a nation.."? Who cares? Did we hurt your feelings and that's why the whole scheme was a failure?
This garbage. The man is garbage. It's just words.
Ahhhh, now I get it....take away our HUMILATION by forgiving OUR DEBTS ...and give us renewed HOPE by lending us some fresh cash!
Where do I sign up?
Brilliant init?
Can't remember if this is the 3rd or 4th time these deadbeats have defaulted?
too many times... Greece is like that annoying cousin you didn't even know existed until he shows up, plays all nice and then starts asking for money again and again and again. You feel compelled somehow to help until you realize the money is to support a gambling habit. Then you have a good talking to him and swear this will be the last time. Only then your cousin starts talking bullshit of how you owe him more because your Mom married a richer dude and she forgot about her sister (your cousins Mom) and never helped her when she was 5x pregnant from different fathers and her life ended in the toilet.
DRAMA
Greeks invented DRAMA. Their nation is a living DRAMA.
Culture does say alot about people.
Much more complicated than that, u sound like a schnitzelfak...much bigger picture at play here....Greece saw the B.S games well in advance and jumped onboard to play...ride the wave.....NOW they(scnitzalfaks and banksters) want to hurt little GREECE?..... Greece will FORCE them to pay.....either way(shut up and print more money until it all collapses or we go east)....either way it (financial system as we know it)collapses......
"This is what happens when you fuck a stranger in the ass Larry!?." -T.B.L.
Why don't Greek men leave their homeland?
Because they find it hard to leave their brothers behind!
Anyone who loans money to sovereign countries, 1) aims to enslave a nation 2) risks not getting paid back. The governments of countries are fiduciaries of the people, they should not barrow one damn dime. The power to barrow by the government is the enemy within.
"bankruptcy can't be dealt with by borrowing more."
makes sense to me.
Are we talkin' moral bankruptcy here?
Greece's new flim-flam man.
>> he believes Europe is willing to negotiate haircuts <<
Haircuts... just look at his.
Welcome back to the Drachma & 20% interest rates & 'CCC' credit rating!
Same place you were before you borrowed the dough!
I think Mr. Panos is going to have to learn Chinese.
Ain't gonna happen. No assets or tax base!
Greece started this over 2500 yrs ago....they will be the beginning of the end of it as well....you see the problem with Greeks is that they cannot work with each other(always arguing...very rebellious bunch) UNTIL an outside force threatens them.....GREECE will get what it wants from EU or IT will side with RUSSIA sooner than we think(west cannot allow that to happen)....give it time(few months)...you'll see bankers in EU cave in....EU will print like there is no tomorrow(MULTI trillions) to cover ,Spain-Italy Portugal etc... are also waiting in the wings for same deal that Greece receives ....
I see no other way...the moneychangers hand is forced....thet will have to GO ALL IN with the printing press....as far as taking these guys out via suicide....at this juncture last thing these banksters want....you'll have leaders emerge that will make fidel castro look like mickey mouse....
.
Nothing was learned from the Treaty of Versailles apparently.
The "Greece Problem" is just a backup plan to block Russia from building their new southern pipeline through Turkey. Just like the "Ukraine Problem". If things keep going bad with the West's Plan A in Syria then i expect tensions/conflict to rise between Turkey and Greece.
Greece nor Turkey are going to play that game.....These are thousands of years worth of culture/peoples.....they have been and seen it all....me thinks they will play the west like a fiddle(lip service) and take maximum moola until they can't no more then u will see how much love they have for these anglo-american banksters.....this looks like a set-up...and we the west are the fools....
I think it's cute that you think Turkey and Greece will have a choice in the matter. ;)
Whatever happened to the idea of OWNING things rather than BORROWING?
So 60's!
Welfare recipients of the world unite! History is on your side.!
GO GREECE ! Tell them to shove their Euro where the sun don't shine !
You only need to compare the turnaround for Iceland when they stiffed the Banks and went their own way. Look at Ireland - a land of pain -all their unemployed have landed in Australia looking for work -- for some years now. !
It's true ! Bar persons speaking in delightful brogue in diverse locations like Alice Springs, Kathyrn, Cober Pedy , Darwin etc are become the norm.
Hint - Any dumbed down Yanks reading this ( NOT regular Z heads:) will find a map of Stralia not that far up from the Antarctic -thats the Icy bit at the bottom of the Globe.