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Varoufakis Blasts ECB "Has Lost Control Of Monetary Policy" As Germany Tells Greece: "There Is No Way Out"
"There is no way out" for Greece from its treaty obligations warns German lawmaker Michael Fuchs (Angela Merkel's deputy caucus chairman) telling Bloomberg TV that conditions set for Greece by The Troika (EU, ECB, IMF) for bailout funds "have to be fulfilled.... That's it, very simple." The Greeks remain adamant that they will not ask for an extension to the bailout mechanism with both Tsipras and Varoufakis confirming that a bridge agreement is required and the latter adding "the ECB has lost control of monetary policy," demanding the Troika structure come to an end. Then German Finance Minister Wolfgang Schaeuble exclaimed at the G-20 meeting that "Greece either has to find a way to get bridge financing, or, if they want to do it with us, they need a program," seeming to push the door open to possible Russian financial aid for Greece as Europe's pivot to Putin appears to be rising.
Germany To Greece...
“Greece either has to find a way to get bridge financing, or, if they want to do it with us, they need a program,” German Finance Minister Wolfgang Schaeuble tells reporters at G-20 meeting in Istanbul.
...
German lawmaker Michael Fuchs, deputy caucus chairman of Chancellor Angela Merkel’s Christian Democrats in parliament, says “there is no way out” for Greece on its treaty obligations.
Conditions set for Greece by EU, ECB, IMF for bailout funds “have to be fulfilled,” Fuchs tells Bloomberg Television.
“That’s it, very simple.”
Greece To Germany...
- *TSIPRAS SAYS GREECE WILL STOP ASKING FOR NEW LOANS
- *TSIPRAS SAYS GREECE TO SUBMIT 4YR PLAN FOR GROWTH AND REFORMS
- *VAROUFAKIS: TROIKA STRUCTURE MUST COME TO AN END
- *VAROUFAKIS: GREEK BAILOUT DEAL SAVED EURO-AREA BANKS
- *VAROUFAKIS: WE'RE LOOKING FOR A BRIDGE AGREEMENT
- *VAROUFAKIS: ECB HAS LOST CONTROL OF MONETARY POLICY
- *VAROUFAKIS: TROIKA STRUCTURE MUST COME TO AN END
Meanwhile, the Austrians are living in a fairy tale...
- *AUSTRIA'S FAYMANN SAYS WILL DO ANYTHING FOR GREEK SOLUTION
- *AUSTRIA'S FAYMANN SAYS WANTS HAPPY ENDING FOR GREEK PROBLEM
* * *
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Insert picture of a PIG being swallowed by a snake.
"Of course we can always cut Greece out of the EU". - Putin
The "pig" being swallowed is Merkel. Euro bonds or bust.
Germany Tells Greece: "There Is No Way Out"
There's at least 50 ways.
https://www.youtube.com/watch?v=298nld4Yfds
I love this song!!!! Thanx
Nice opportunity for the russians to convert their remaining euro/dollars and US/EUR-bonds into harbours and other assets in Greece. Smart tactics of our EU-Fuehrers...
Anything in it for Russia as far as pipeline routes? Seems far fetched, but maybe.
Naval baases, absolutely. Just wondering if there's anything else in it for them.
Greece makes a good lever. A way to get your message across to the other Euroland people, should not be underestimated.
Imagine a pipeline that runs through Turkey-Greece-rest_of_Europe. Putin gets in with Turkey and Greece while bypassing Ukraine. This is probably why he is being so accomadating about Donbass - he has a better option. I think (at this moment but I reserve the right to change my mind repeatedly on a whim) he's only helping the seperatists because of domestic opinion and to buy time for the Greek thing to play out.
http://oilprice.com/Energy/Natural-Gas/Russia-Turkey-Axis-Could-Ruin-EU-Pipeline-Plans.html
Somehow A FUCHs being in charge of a CoCKUS is not very healthy sounding in this instance. Weird.
Not sure how many people realize that globalization is a cockup primarily because of language and what "what" means or better yet, what "is" is and other such linguistic cockups.
Hey Fuchs you, you cockus....
And all that said, Germany has benifited too much from the Eurozone to complain, it's had a few good decades, now let go Murky-El!
For the linguistically and esoterically inclined...
https://aadivaahan.wordpress.com/2013/01/20/two-hammer-blows-and-a-rando...
No way out? That's absolute BS, there's always a way out, Greece should have done it years ago, they'd be far better off now if they'd done it back in 2011 and put all this crap behind them.
Vakuumfuck is about to learn a lesson.
There is no way out. The west has a lot of tentacles in Greece. It'll make the Ukraine disaster look easy.
Eurobonds will vbe the ultimate joke. Germany will walk if it comes to that.
I believe it will be Merkel who walks along with her party.
Bust. Definitely no Eurobonds! Collaps of the EUSSR! FAST!
Bust. Definitely no Eurobonds! Collaps of the EUSSR! FAST!
the snake is your mom the pig is you.
I hate snakes. The only good snake is a dead snake.
I hate funny posters.
You must love rodents and all the disease they carry?
My father in law bragged once about how they were shooting all the snakes around his house (water snakes that look a bit like a cottonmouth to idiots). I asked him if he liked mice. Well, couple months later there was mouse poop in his pantry cabinets. You are never too old to learn cause and effect.
pods
When we moved to the mountain Mrs. Cog became familiar with the extremely large and scary looking "Wolf Spider". She was not a happy camper.
The Wolf Spider does a great job keeping other insects at bay. That is little consolation to the women screaming at me to do SOMETHING about the spider.
I value my marriage more than the Wolf Spider. :-)
Heheh. Been there.
I have so many pics holding those. They are huge! They barely fit on your hand. That is one spider that gets the Mrs. into a frenzy.
When we moved into our house there were black widows literally everywhere. When we had kids I showed them how to recognize the spider and told the neighbors how to recognize the webs. That is the one spider we do kill. Just cannot take the chance with little ones around. Everything else gets relocated or left alone, including copperheads.
pods
Had a prblem with black widow infestation once. I knew what they were, where they were likely to be. I didn't bother them and they didn't bother me; but, other people -especially children- can be very foolish.
I bought a few ducks: the black widows all dissapearerd and I started finding these tasty eggs where the ducks slept...
uh, oh, Yanis. you've pissed off old schnitzel face but good.
print more euros
Look boy: Europe has 100 Million people more than the US, a higher GDP than the US, less debt than the US and a fraction of the money printed as compared to the US (so far). The point is, that the EU will still be alive with a functioning Euro all the while the US will have broken apart who knows into how many parts. In a sense, the US never was one country as I can see nothing hat connects the likes of Warren Buffet or the Clinton Clan with the 50-100 Million inhabitants of one of the 30 block of squalors you can find all over the US.
Europe has more than double the population compared to the US.
More than 700 million people.
http://en.wikipedia.org/wiki/Europe
You are right. I meant "EU" but wrote "Europe". Then my numbers are correct. Apologies.
From what I understand all 50 States are registered as "states" with the UN, meaning they are each a sovereign. That makes sense since it was originally a group of independent colonies that basically came to an agreement to act as one for certain things as outlined by the US constitution.
Tell that to the Russians. If they invade and the US doesn't help you there will be tanks in Berlin and Paris in a month.
Tell that to the Chinese - pure numbers game.
Seriously OT, but goes to the manipulative nature of ALL our Governments:
FLAKMEISTER c'mon back and explain this to us plebes:
http://www.telegraph.co.uk/news/earth/environment/globalwarming/11395516...
Don't worry its all for their own good..
Calmyourself
I'll explain it. You trust data put out by Watts Up With That because it fits your ideology. Now the mainstream data may be wrong, but I'd say a more reputable organization to dispute the data is called for. If the mainstream data is right, we're fcuked.
180 degrees applies as well friend.. At least in my system Government does not need to save me. Yours more taxation and regulation will fix your worldview, right...
In case that banksters will risk to pull the rope to the edge, ECB will cut the last funding source through the ELA mechanism. Therefore, Greece should be prepared for the last defence line: return to national currency.
They don't technically have to withdraw from the Eurozone and reintroduce the Drachma when funding is cut off.
They could simply remain, technically, in the Eurozone and allow any and all other currencies to circulate freely without regulation.
Including, for example, the Russian Rouble - and pay pensions in Roubles (or whatever) set at a subsistence level for poor people. With a moratorium on evicitions for unpaid rent or mortgages.
Indeed.
Rigidity of thinking is going to be very costly for a great many persons.
QE, suspension of GAAP, TARP, Derivativies, Currency/Interest Rate Swaps, Bail-ins, Bail-outs, etc., etc., should have taught some lessons... Almost whatever can be imagined can be done.
so insulated little Russia ha?
"No Way Out?" Yeah right. Watch this Merkel...\
What a Sour Kraut.
Looks like the ECB didn't absorb all toxic waste yet.
Germany protecting some German banks ?
Ms. Merkel has evidently lost sight of the meaning of the word "sovereign". A sovereign nation can always withdraw from a treaty agreement. If it cannot, then it isn't a sovereign state.
"As Germany Tells Greece: "There Is No Way Out""
LOL, sure there is. Default, just like Iceland.
Same with the rest of the PIIGS.
Otherwise it's decades of bankster austerity and financially raping of the Greek people.
Greece's answer: Way!
"There is no way out for Greece. We have them TRAPPED". FU Fuchs!
"Today, national goverments are not able to fully exercise their sovereignty alone. Individually they are not, simply are not powerful enough. To serve their purpose they have to learn to govern together. They have to learn to be sovereign together, as to respond to their citizen needs." M. Draghi (7/9/2014)
Sovereignty Ends when Solvency Ends:
https://www.youtube.com/watch?v=RZksKR5qGmY
Shorter Putin right now: "Nice little country you have there, it'd be a shame if anything were to happen to it"
i hate both sides. everyone involved in this mess. seriously.
Well....they are all bankers.
Not sure the term 'side' is applicable actually. It's all the same team...they would just rather you not know that.
greece: mumble, mumble, dissemble, make bullshit statements...
troika: mubble, mumble, we suck banker cock, we like the taste...
Insert picture of rainbow puking skittles shitting unicorn...
http://fc01.deviantart.net/fs70/i/2012/001/2/1/unicorn_pooping_a_rainbow...
Randgold is having some problems getting our gold above the ground...
http://www.telegraaf.nl/dft/23660296/__Goudkoers_trekt_mijnbouwer_onderu...
LMAO....all bankers can do is talk about loans, need to start talking about bondholders losing a whole bunch of money.
Exactly!! Where's the collateral damage! I keep waiting for something like "the city of Miami anticipates it's retirement program will lose as much as $70 million if Greece defaults"....which will start a series of domino anouncements in the West. (fyi...I just picked Miami for no good reason...sorry Floridians)
This is obviously Bush's fault
No, that would give this monkey too much importance.
Just a little more time dammit......just a lttle more.
https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/p296x100/10347402_840656535980587_3420701690227574495_n.jpg?oh=a28eb5f025ac6c495c998a3c06341624&oe=554A8402&__gda__=1432564415_3dbc5b32da4e1d1af833a472e20941a0
As someone stated yesterday, YES.
Prescott Bush.
Bush's Fault
If we blame Jeb can we keep him from running?
Bush's Fault
If we blame Jeb can we keep him from running?
Remind me again, when was the last time in European history that Germany was issuing ultimatums?...
Putin: .... remember those sanctions you used to destroy my country?
Payback time!!!!
PIIGS, Russia will work to get you debt free and free from decades of western banster austerity.
Yah. Could easily see a line extended by Moscow with appealing terms contingent on approval of TurkStream, with payments built into the price of gas over some reasonable period of years. What's the alternative?
Russian bases in Greece... now that would be a development that is truly popcorn-worthy.
Looks like a bunch of useless lazy 'elites' are getting very worried about their continued phoney baloney existence.
Either that, or it's planned. After all, they need a really good crisis.
All this talk of fiat and promises and debt backed by promises and "Change" and reforms in a few can kicking years and QE to plug holes and inflation is redundant..over a decade now of paper suppresion of Gold makes me wonder how much longer before that balloon bursts and it shoots over 2,000 an Oz...China and Russia are accumulating it like crazy..something is off.
You mean the poor, put upon Greeks have to actually fulfill the terms of their agreement?!! This is an outrage!! How dare those evil bankers bail greece out from collapse, and then demand that they pay the money back and restructure their economy!! Villains!
Hey brushhog, you might want to round out your reading to get caught up -
http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/0452287081
"There is no way out" for Greece from its treaty obligations warns German lawmaker Michael Fuchs (Angela Merkel's deputy caucus chairman) telling Bloomberg TV that conditions set for Greece by The Troika (EU, ECB, IMF) for bailout funds "have to be fulfilled.... That's it, very simple."
Last year the Germans were all too happy to let Greece exit telling the World it was an insignificant "blip" to the rest of the EUs member state(s). Now?....
YOU'RE NEVER LEAVING!...
What a difference a year makes!...
One has to logically raise the question that if Greece (a NATO member) is ready to do what Yanukovych's government a non-NATO member did with it's pivot to Russia instead of the EU for debt restructuring what kind of "risks" is the U.S. military willing to take at this point considering every other place they are at?!!!
Hey what about the ships entering the Black sea this weekend
Hey what about the ships entering the Black sea this weekend
What about them?...
When they get too close to where they shouldn't be you'll hear about them.
Kind of like this one only over the water!
On a side note: DID THIS JUST HAPPEN?
Tactical Nuke Detonated in Donetsk, Ukraine?https://www.youtube.com/watch?v=0dgJvictmXU
Tactical Nuke Detonated in Donetsk, Ukraine?
Yesterday in fact, http://www.zerohedge.com/news/2015-02-08/meanwhile-donetsk
Still lots of speculation on what it was but more importantly no casualty reports as of yet -that we know about!
Hmmm... and not a PEEP from the MSM.
Hmmm... and not a PEEP from the MSM.
No official announcements will ever be given. Lots of these have happened in the last year that have gone unreported. Hey why bother when your President announces his own treason formally during an interview with the mouthpiece press last week that he aided in the transition for the previous Ukraine government? Lying through his teeth that we are just now considering lethal aid to Ukraine when Russia has proof everywhere that weapons and mercs have been embedded since the coup started a year ago?!!!
This is the only reason why the "White Chimp" came out with the truth because he knows the Russians have an extensive dossier on the U.S. and Israel's war crimes starting with Maidan all the way to the present!
The only good thing is you can see the visible rift between Germany and other NATO countries growing worse as the "truth" keeps coming to the surface!
Bush dumped DU on Iraqi heads.
There is no high-ground. Bwahahaha!!! Glass or Bust!
Speaking of "glass or bust"...
Tel Aviv's next door neighbor appears to be making new friends. I believe it's the same one Turkey, Cyprus and Greece are hangin out with lately that has a currency backed with something of value...
Yep! At the rate things are going Israel isn't going to be landing any of those oil and natural gas contracts near Cyprus and Greece if they keep working with the USD and it's military!... Relations have been so strained as of late?
If I were Netanyahu I certainly wouldn't be courting the U.S. Congress for moar war. I'd be sucking some Russian dick!!! Cause the war thing ain't working to their advantage!
I love it - the EU (well, Germany) chasing Greece, which itself has been unable to produce accounts with a clean bill of health for NINETEEN years (and counting)!
DavidC
Wow what has happened to the history of Greece just watched the movie 300 where is Zues when they need him
"There is no way out" for Greece
Well then, make shit up and believe it. Isn't that how we got here anyway?
Baltic Dry Index at record low, strike threats at the US west coast ports, Greece about to exit the Euro. So what asset is falling today? GOLD! You can't make this stuff up!
We know that the PM market is rigged and there is no delivery of metals involved in those prices . It is about time that the valuations of the Shanhgai metal price market is used when speaking of the value of Silver and Gold . At least in Shanghai metal are changing hand and not pieces of useless paper
Greece is heavily into shipping -- are the manipulators crashing the Baltic Dry Index to hurt those rebellious Greeks?
So that all means the price of gold will drop, right?
Russia's payback for the sanctions.
Russia can help Greece, Italy and Spain when they default on ECB/IMF bond obligations.
All the PIIGS need to follow Iceland and be free from the western banksters.
Russia has it's own financial problems, adding these economic disasters to their balance sheet would be a mistake.
The EU is facing a systemic crisis and is not capable to find a suitable way out . The only mantra they know is that debt must be paid off .
How can a country reduced to the state Greece it is , can pay a debt that is impossible to pay back ?
If how Greece is treated is a sign of how other PIIGS will be treated , there is no hope for the EU . Other countries will quit the EU .
The retards in control of the EU approved giving to EU zombie banks hundred of Billions of toilet paper Euro that cost next to nothing to print , but cannot approve to write off the debt of Greece with the same toilet paper Euro that saved the Zombi banks of EU .
The EU sucks , let it fail ASAP .. EU leaders should be all fired because they are incapable of logical reasoning
that's what happens when we allow debt free loaders to issue said debt. yes i call them free loaders because that's what they are, like parrasites to man kind.
i want to know why everyone aggrees with this arrangment, this fake interest on fake debt created from nothing, repackeged and sold to the sheep. why do we seemingly intelligent human beings allow a banker cast to exist at all.
when we've all had enough perhaps we can get on with the business of living and enjoying life without interest or debt created and fabricated out of thin fucking air.
wanted to add..
fuck you green yellen bernanke
No way out?
"Fuck you, we ain't payin or playin" is a pretty easy way out.
"have to be fulfilled.... That's it, very simple."
Look at the petulant child Fuchs throwing a tantrum like a three year old.
Hey Fuchs,
The history of the world called, they laughed about the treaty obligation thing.
The "Winds of Shit"!
What a time to be in the United States Armed Forces!!!
Surely there's an anti-semite to be found somewhere?
Wait a little, and the press will hunt Varoufakis down for being some filthy little jewhater...
First trial balloon I found in the german magazine "Der Spiegel" http://www.spiegel.de/wirtschaft/soziales/giannis-varoufakis-ist-grieche...
You can guess the translation, no? Is the finance minister of Greece an anti-semite?
Linking to this article/transscript from 2005 - they must be getting desparate.
http://www.icjs-online.org/index.php?eid=708&ICJS=2394&article=655
DEFIANCE -it's what helps move humanity forward.....
I just wonder of how much Deutsche Bank is up for with derivatives if Greece defaults? Must be a lot as Mutti is carrying on like a two bob Watch.
The problem is (and has been) that it is WAY easier to borrow and spend one billion Euros, than it is to re-pay one billion Euros...
when the Putin pipe to Athens opens that will be the day Greek farts will become rich.
Right now a greek fart is signed Zorba the poor.
So if you want to see Zorba dance hope no Putin pipe.
If you want to see Zorba make moussaka and dolmates fit for an Oligarch hope he gets his Ruski pipe full of turkish kebabs.
Either way Zorba is eternel like Odysseus.
Btw the wine in Greece is too resinous to be serious. I stick to olive oil for my salad and drink a bottle of Italian. Cyprus has better wine since the Commanderia days.
It, the Commanderia, won first prize in PAris under Philip Augustus in 1223 when they had the first wine contest ever registered.
It was the year Venice published its first banking list of Oligarchs using the new silver coin Grosso. Venice was the TBTF hub of the Middle ages. Every actor of the Crusades was on it!
Cue Mr. Panos ...
"No way out? Ha ha! That means the Greek genius mind fed on feta cheese and olives has put Germany in a trap that it cannot escape from. Genius!"
NO WAY OUT!
Hmmmm... just a thought
Under Contract Law , it is a prerequisite that both parties offer consideration before a contract can be thought of as binding.
Is fraudulent fiat debt/credit/QE 'consideration' for a valid contract?
Is the TROIKA a legal entity?, who elects the TROIKA?, who governs the TROIKA?, who does the TROIKA represent?, why are the TROIKA not subject to International Rules and laws?, how have the TROIKA established such powers over other Nations/citizens?....
Contracts, treaties, etc. cannot survive their signatories . Except, that is, by fraud or force.
Dear ECB and Frau Merkel, BUUUUUUGGGGGGG OFF!
Merkel meeting with ObamaNation at WH, to discuss the arming of Ukraine. Coo Coo 4 Cocoa Puffs.....
No way out? But arbeit macht frei, no?
What's the meaning of deflation politics where several people almost die while others get richer by the day and stocks make new highs on a regular basis, this all while the debt still keeps growing.
Come on, one more high on stocks! It's still bullish.
Germany, you are not the boss of us. Your cunning plan conceived during the last stages of WWII is about to fall into pieces.
Germany just refused Greek calls for WWII reparations saying that when Germany united, WWII finally came to an end and that demands for reparations expired.
Germany, sentiments in Europe especially when it comes to murdering, pillaging and raping never expire and can last generations. People in Europe are waking up to the financial games and tricks that are being played. Helmut Kohl's idea of Europe is coming to an end. People want their continent, countries and dignity back.
Central Banks are supposed to prevent bank-runs and stabilize the financial sector, like firemen arriving to put out a fire.
Yet here we have the ECB's fire engine arriving, spraying gasoline all over Greece then dropping a match and driving off, laughing maniacally. Too bad the hose is trickling a trail behind them and a line of flame is rapidly chasing them down....BOOM!
Gee, a guy could think that maybe stabilizing the EZ crisis is not really what the ECB is all about, that maybe it's more about protecting an oppressive bankster cartel that won't tolerate any nation like Greece trying to break free and detox from the slow-acting debt poison.
But nah, the ECB doesn't play politics does it? It only wants what's best for Greece, just like any Communion of Unselfish, Neutral and Thoughtful Servants would.
Lets' see how Putin deals with the lamprey eel of Europe.
What the hell are they going to do against Greece? Keep the Greeks from vacationing on the Baltics? Push another country into the Eurasian monetary system? Dig up Rommel?
What they are really going to do is prepare the German taxpayer to (again) prop up German banks from haircut Greek bonds and loans. Poor bastards (the German taxpayer).
"Varoufakis Blasts ECB "Has Lost Control Of Monetary Policy" As Germany Tells Greece: "There Is No Way Out"
Oh, oh! Greece has WNDs, and Nigerian "yellow-cake."
Bomb, and drone, their cities, schools and wedding parties. And cue the "Greek Orthodox are the most belligerent, and dangerous, people on the planet, after Muslims" propaganda.
The banksters need to repay us.
"Damn Orthos!"