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The REAL Greek Negotiations: Situation Is “Berserk", "There Is No Plan", "Greeks Digging Own Graves"
Forget any conciliation: what is going on behind the scenes a day ahead of the Eurogroup meeting is nothing short of disaster.
“The Greeks are digging their own graves,” warns one EU official, according to MNI, with another exclaiming the Greek plan as “hopeless” and added “how can you have a plan when you make no payment obligation till the autumn and then you probably scrap that.” Simply put, speaking on condition of anonymity, an EU official described the situation as “berserk” adding “there is no plan.”
As MNI reports, EU officials are "infuriated" by 'wildly misleading' Greek claims...
The carefully orchestrated dance between the new Greek government and its European creditors appeared to crack Tuesday, with top Brussels officials infuriated by what they see as wildly misleading claims coming from Athens.
...
A senior European official, who spoke on condition of anonymity, described the situation as “berserk” and said, “there is no plan.”
...
“The Greeks are digging their own graves,” the EU official said.
At the start of the Tuesday, Greece floated its latest funding plan via press leaks, including to the Kathimerini newspaper, proposing a bridge financing programme that would lead to a “new deal” with creditors from September onwards.
There were reportedly four parts to the new deal: 30% of the existing memorandum with the Troika will be cancelled and replaced with 10 new reforms agreed with the OECD; Greece’s primary surplus target would be cut from 3% of GDP this year to 1.49%; Greek debt would be reduced via an already announced swap plan; and the “humanitarian crisis” would be alleviated via policies announced by Prime Minister Alexis Tsipras Sunday.
...
The first official described the plan as “hopeless” and added “how can you have a plan when you make no payment obligation till the autumn and then you probably scrap that.”
An exchange between the new Greek finance minister Yanis Varoufakis and Europe’s representatives, Thomas Wieser and Declan Costello, on Sunday was not successful, according to a source with knowledge of the encounter. The source said the Greek side gave the impression that if the Eurogroup did not agree with its stance, then the creditors could “go to hell.”
...
“For the Eurogroup to just agree new liquidity puts an awful lot of faith in a new government, without knowing what’s planned,” he said. “The ECB has stopped support, the EFSF and ESM need programmes and bilateral loans would be hard to pass domestically.”
And finally...
Meanwhile, the only advisor to the new Greek government, the investment bank Lazard, is not seen as playing a positive role by the EU side to date.
One EU official described the Lazard bankers as “incompetent” and “counterproductive.”
Compromise?
Meanwhile, we may have just hit peak trial balloons. Too bad the ECB can't monetize those when it runs out of Bunds to buy.
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And the family member being molested is the last to admit it.
"daddy molested me!"
"It was your fault for walking round the house in tiny underwear."
"I was three!"
And then the urge came over me to be in Playboy ...
just wrong on many, many levels...
But I thought the "news" said the "plan" was a 6 month extension..... hmm journalistic integrity go fuck yourself.
They are digging the grave for the €, which already is in the coroners' territory.
The Greeks are digging their own grave? Looks like it's big enough for everyone.
Enjoy the party but dance near the door.
So all the Greeks have names.
Unelected, unaccountable, sputtering, clucking "EU officials" apparently do not.
Greek gov knows they have the EU by the balls. So, they can rip them off and give them to Russia or continue fondlin them.
Double post.
All of Europe is tired of the Greek fiasco and, in every other state/nation in the Union, the people are willing to kick the Greece out. If they can not sort their affairs they are not worth being in the Union.
The Greeks can go and ask for money Russia (or China for that manner), but with all these new Friends comes something named military power. And neither Russia nor China will easily forgive someone wasting their hard earned money, and one morning the Greeks may wake up with the Russian or the Chinese boots on their door steps. I am sure then they will see Europe as their best new/old friend.
It's not a Greek fiasco, it's a German bank fiasco. Get your dialectics right ...
Surely you are aware that less than 20% of the "bailout" money went to the 'lazy greeks', to use the stereotype you readily seem to accept from the MSM.
Most of the loans were used to pay off bondholders and loans from big european banks. Same story in Italy, Ireland, Spain and Portugal.
The bankers are the PIIGS, not ordinary people or nations.
The EU has no balls. It does what the USA tells them to do.
It continues to sink various economies with toxic measures.
It has the biggest collection of useless politicians I have ever seen although it could be neck and neck with the USA in this regard.
Indeed. As Mr. Panos so eloquently states at the 2:10 mark.
One EU official described the Lazard bankers as “incompetent” and “counterproductive.”
In other news, the sky is blue, things fall down, and water is wet.
If Lazard had said Greece doesn't need a haircut, EU official: 'These guys are really smart and easy to get along with!"
Incompetent - yes, but Counterproductive, how? by looking after the interests of their Greek client?
Translation, they know exactly what they're doing ... They're putting the squeeze and it hurts.
"Cyprus bail ins."
Yeah...kinder, gentler EU.
From Maastricht to mas moula is more like it.
I think the Greeks have this one figured out....but we'll see.
I'm fairly certain there is a plan, and I know it's not one that benefits the Greeks.
The Greeks just have to press all the buttons on the console. If nothing works then at least it's guaranteed to blow up Europe at the very least.
This shit is going to end with global war, maybe not tomorrow but its coming.
I agree.
The disintegration of the Euro is a much bigger event than the assasination of Archduke Ferdinand.
The Clash - Safe European Home - Vienna 1981.
In cases of an irony lasting for more than four hours, seek immediate psychological attention or actual political change.
I wonder how the corporatists will brand the "peace" following the "hell"?
Too much irony can be fatal.
when you add 2 negative numbers together, you get an even bigger negative number.
the only way "forward" is through 20 years of bankruptcy, debt repudiation, contract abrogation, and defaults - globally and throughout every currency and economic regime.
On the other hand if you multiply them....
Things get complex if you sqaure root them.
DLAR in UK as longer-term play? Lots and lots of Drachmas, Escudos, and Pesetas oh my.....
All Greece need do is offer tax credits for payments in silver and gold, such as 100,000 in tax credit, for each ounce of gold and 10,000 for each ounce of silver.
You would have greeks lining up to pay past and future taxes in gold and silver then use that metal to leave the euro and let it crash and burn.
Greeks plan always involves OPM (Other peoples Money).
They do not want to go their own way and stand on their own two feet.
They are interviewing for the best deal among multiple Sugar Daddies...
There is no plan for the EU to get paid back - but greece has a plan - not to pay.
That is not an unreasonable plan given that a great deal of that debt is odious and given that Europe can always call on Germany to pay a large slice of that debt in lieu of war damages owing to Greece.
When all global payments are conducted with IOUs, nobody ever truly pays.
Doesn't Lazard have a fidiciary duty to look out for the best interest of their client (Greece) and not to TPTB...??
Having an EU official saying Lazard bankers "incompetent" and "counterproductive" sounds an awful lot like a hissy fit.
"counterproductive" to exactly whose desires...??
Sounds like things aren't going the way the EU planned...
I've watched a company going bankrupt. They keep trying to save it, throwing good after bad, borrowing more, bleeding it more with no growth, till finally, there is just no more credit and no more money. Only then is it "done" as in put a fork in it. There are well defined processes for bankruptcy for a company, not so well with a country, particularly one in a Union. The company affects others who are owed and don't get paid, but because the assets get sold off on the cheap, they deploy elsewhere where growth is possible instead of trying to service debt that can never be paid off. The effort to pay off the impossible makes regular business impossible. Ya'll know all this.
The entire system is bankrupt. Greece is just showing up first with no money in the coffers. No hand book for this. No lawyers and judges who know what to do. So this looks crazy, like there is no plan B. The plan is failure.
I've done what you described in the 80's. Threw everything into a business, even mortgaged my home which had been free and clear, in the end hope didn't work, neither did the business and it all went down the tubes including a marriage.
When I walked away, I was pariah, a 'loser'. I would have been better off mugging an old lady and stealing a purse than trying to keep a busiess which employed 35 people going for 4 years.
In the end, it was the best thing. I started fresh with a knowledge and experience they don't teach in college. I used every trick and devised new ones just to make payrolls. I learned how to survive even if it did sink in the end.
There is an out for Greece. Start over with nothing, learn from past mistakes. People will suffer for a bit, but if it is done right they will be better off. Those who have money coming to them will scream bloody murder, but most won't have to bear the consequences as the Greeks will and many of the Greek citizens had no part in all of this to begin with. If our 'democracies' are any guide, there is no limit how much the elected representatives can borrow for you, even if you never see it, but have to pay back.
It's a tough decision to pull the plug. Been there, done that.
I also had to pull the plug on a business. But I used a stop loss. My initial investment was it -- no more.
I feel sorry for the guy who loses his house and his friends/family's money. That is the gambler mentality. To keep putting more money on the craps table is being in denial.
The business I watched go under, Dad felt pressure to save the business to leave the kids something. The kids worked the business too. They worked free for the business for two years. Plus they had crews they were running/supporting. Dad put the paid for luxury house on the line and lost it. I remember the day the Dad came home from the bank, with the Mom, Mom came in and sardonically "kissed" the house good bye. And she was correct to do so. I knew it was going under then too. We just all looked on in wonder.
Point being, not so much a "gambler" as just deeply ashamed it was not working, felt responsible, and was trying to keep it afloat long enough so that it could "catch" and grow. Was not meant to be. Sad situation, I think the sadness of the failure killed Dad.
I suspect you were more objective in your approach. I think the "gambler mentality" characterization is incorrect. In my experience, it takes a tremendous amount introspection to take a long hard objective look at something that is/was as much of your life as anything. Especially if you, as a professional, ARE the business for all intents and purposes.
In my case the business model as wrong for my temperament. I came to terms with being an asshole and moved forward. I've had the pleasure of a solid stable client base for near a couple of decades now.
Note to Mr EU official,
How about we just tell you to fuck off then.
How's that for a plan?
How long do you think you will last once the EU triggers 10 trillion plus of derivatives you m---f-kr.
better to die a free man than to live as a debt slave
It's not live or die. Quit being such a drama queen. All greece has to do is STOP PAYING. Don't leave the euro. Don't do anything else except learn to live on cash receipts.
If Greece needs a plan then so does Europe.....and for that matter the USA, China and the whole freaking world !!
The Greeks aren't digging their grave, their digging the foundation for their new banker-free nation with its own interest-free value-based currency:
http://whatreallyhappened.com/WRHARTICLES/allwarsarebankerswars.pdf
franzpick Very nice pdf.
Critical and Educational.
Tyler, I have a request.
How about adding http://www.usawatchdog.com
to the read list ?
Thank you for all of your hard work.
Getting busy huh? Sunday was.
Hey dude, those are graves for bankers and financiers...
be optimistic folks.
That's what happens when you don't pay the banksters.
So, the difference between GS and Don Corlione is exzackitickly....what??
Corzine goes free and becomes a governor and senator.
Here's why they are getting an "extension" of six months!
I see a "Maidan Revolution" without oranges in Greece's future!!!
February 20 - 22, 2015
Friday-Saturday 11am-11pm
Sunday 12pm-5pm
Admission: Adults $5 for the entire weekend.
Children under 12 years old are free
Location: Annunciation Greek Orthodox Church
8210 Cypress Lake Drive • Fort Myers, Florida 33919
The plan is to print more money and encumber more property to the state and its creditors till there is nothing left, then foreclose.
Its always the same plan.
This isn't brain surgery, these people have a 10,000 year old playbook with 1 play, print then foreclose.
Hey Smitty.
Looks like Israel is seeing those oil and natural gas projects in Cyprus and Greece slipping through their shit caked hands! And fast!!!
Decisions?... Decisions?...
Does Israel go all in and defend "king dollar" which is the only partner it has left?... Or?... Does it delude itself further into thinking that it can somehow repair the damage it's done to Syria and Ukraine?... The former having a 50 year business partnership with it that forced more than 40,000 Russians to flee that Country when Israel and the U.S. went after it 3 years ago and the latter?... Just "kin folk"!!!
I think Shlomo's bagel is "done"!!!
Their game is getting boring. It is the same as playing a game of Monopoly and one of the players is also THE Bankster. There are only so many times you can be bothered to keep passing Go for a miniscule handout when it is taken straight off you in tax or a fine and in any case you are already in reality Bankrupt. It would be preferable to go to Jail or not play at all.
I don't want to play their games anymore, in fact I REFUSE to play any longer, so there. I don't like Charades, Pass the Parcel or Cluedo all played by our current farcical Governments.
Govern = to control ment = mind.
I think we should devise our own games on Zero Hedge, and roll them out globally. Any ideas?
This is just the dry run for Italy, Spain, Portugal, France, England (well maybe not), Ireland, Scotland - have I missed any?
ONWARD!!!!
There is a big difference between Greece and Iceland. It seems Iceland went through hell and has come out of it on their feet.
There comes a time when Greece, under any situation, is going to have to pay taxes, work harder, retire later and be more productive. I don't see how a nation can do that all at once. THAT is Plan B in my option.
Iceland is different in that it has a significantly smaller population (300,000ish) where as Greece has 11 million. Iceland is capable of drawing in enough foreign currency through tourism (NATOism - military bases there) to supply such a small population. Estimates last year were that Iceland hosted 1 million tourists (3 tourists per resident), Greece is unlikely to be able to host 33 million tourists (18 million last year). Iceland is also energy independant (yes it imports oil but electricity is "free"). Iceland also produces much of the food it needs with the expansion of greenhouse vegetable production.
Banksters hate them for their independance.
Terminus C
Perhaps there is a silver bullet most have not considered.
https://www.youtube.com/watch?v=zxsmNRZz5FM
http://www.theautomaticearth.com/2015/02/greece-to-return-classical-mast...
We all face these problems, what to do?
HENRY GEORGE AND THE RECONSTRUCTION OF CAPITALISM
http://www.wealthandwant.com/docs/Andelson_HGRC.html
The Mason Gaffney Reader: Essays on Solving the “Unsolvable”
http://masongaffney.org/
http://www.henrygeorge.org/isms.htm
Our Community Again.
“The Greeks are digging their own graves,” warns one EU official...
International "trade" and "banking" is not necessary for survival.
The EU has backed the Greek people into a survival situation. So, No.
The greek people are working to save their country and put the EU "officals" and banksters where they belong.
What, am I crazy?!
I INVENTED THE EMERGENCY FUNDING MECHANISM!
I think "berserk-er" might apply.
Which given the gravitation field about the black hole that is the nwo, may loop around to the region of the rational.
Digging the EU's grave.
Normally I'd think Germany and the Northern countries might give in somewhat but with Podemos chomping at the bit I think they will just let Greece exit.
Only one person will be left standing.
The man with the biggest set of balls.
Shrillary Cliton?
Better trade mark that one!
The First Ho'?
Second Thoughts On US Official Gold Reserves Audits
https://www.bullionstar.com/blog/koos-jansen/second-thoughts-us-official...
peak meshugga
Fuck Greece. Throw them out as an example. Let them live outside the club and they will quickly become Syria. They have nothing we want, not even a hard working population, that pays taxes and is creative.
"They have nothing we want"
Who is we?
Throw them out as an example of what, how to escape bankers and contracts made in bad faith?
You may be out trolling, in which case I congratulate you, but if you really think Greece is the problem, you could benefit from hanging around and reading. If you loan money to someone you know can't pay it off, you what I say to them?
"FUCK YOU DUMB ASS, YOU LOST YOUR MONEY, EAT THE CONSEQUENCES OF YOUR STUPIDITY!"
I don't bail out lame relatives or friends because I learned from my failure doing that.
"If you loan money to someone you know can't pay it off, you [know] what I say to them?"
True as far as it goes. But don't forget the Greeks went to great trouble and expense (Mr. Draghi and GS do not come cheap) to concoct a fraudulent statement of their financial position, which was in turn used to get their hands on the EU loot.
"Greeks went to great trouble and expense"
Slight correction:
The former government of Greece went to great trouble ...
That's why no one is going to step up in the USA or any other countries deep in debt to the bankers to correct the old government's crimes and collusion, they know the cynical citizens of those countries will happily throw them under the old government's corrupt bus for their trouble.
Why try?
Nothing more than the normal conclusion to socialist/communist/marxist masterminding. It always ends this way! The party is fun but the dying part not so much!
Huge debts that can't be repaid, won't. Greece is just another example of Detroit. More to come.
A senior European official...described the situation as “berserk” and said, “there is no plan.”
The source said the Greek side gave the impression that if the Eurogroup did not agree with its stance, then the creditors could “go to hell.”
Sounds like a plan to me. :)
Yes, the EU was a bad plan. Greece is one country in the many that will take down the EU.
Just a matter of time.
The EU and ECB said years ago that Greece was fixed. Everyone is still complacent about it.
The politicians are making this a long and painful process because they don't want to give up the power.
"fixed", you ain't lyin'.
Get in power, stay in power, destroy your enemies. 'bout right?
ECB cornered...
Of course there is a plan.
I'm waiting on ANY leader, Greek or otherwise, to say, "Okay folks. The global exponential debt thingy has run it's course. That which can't go on forever, wont. You have little time left to learn self sufficiency skills so that you can rely on governments as little as possible. Governments are broke and will not be able to help you."
I think that is what Tspiras is saying, except he wants to start the debt charade over. It isn't a bad idea in the short term but every State is already leveraged to the hilt and he will likely sink the ship.
Greece's problem is the have a massive amount of debt with no funding mechinism for income and no resources. They also have no savings in their Treasury. I don't know what private savings are like, that would be an interesting thing to know.
'Private Savings' are interesting? Seriously?
Greece is the word.
....is the word that you heard. It's got groove, it's got meaning.
Greece is the time, is the place, is the motion.
Greece is the way we are feeling.
The new government will happily declare bankrupcy. FIgure it, they blame the prior admin - whose father son team ran Greece similar to another family that runs the US - and start anew; printing drachmas ad infinnum. They leave the EZ and it cracks, mostly because it was fragile to begin with but also because Greece is the first out the door. WIthin a year the EU will be broken up. It was a bad idea in the first place, like Switzerland pegging to the euro. Nation-States weren't meant to share such financial responsibility.
Nation States?
Nation States?
“how can you have a plan when you make no payment obligation till the autumn and then you probably scrap that.”
That IS the plan jackass !
HOW can us phony banksters not be getting our vig? It's inconceivable!
I heard Putin will help them: 5 billion $ in oil, and 5 billion $ by means of a 6 month loan. The EU and US will go berserk...
Time to pull the plug on the deadbeats before the cancer spreads to productive elements of the world! Let to socialist visionaries give speeches & ultimatums to eachother!
Productive elements of the world? Where?
Those that don't have their hand out!
Hey remember way back in the old days last month when the prospect of 'Syriza' even getting elected was the worst market news possible? Now it's a 'carefully choreographed dance'? Whatever....bunch of buggery by banksters is ALL I see.
Socialism kills!
Maybe the Greeks are digging your graves, technocratic assholes.
Yeah ... there's nothing heart warming than dour sanctimonious freeloading deadbeat borrowers morally pontificating to their creditors how they deserve & should be given moar from other peoples efforts!
I detest the bankers and the EU bureaucrats but the fact is Greeks have for years been enjoying a standard of living way above what their productivity entitled them to. They did this through the simple expedient of borrowing vast sums of money usually under false pretences. I don't buy this 'plucky Greeks' meme at all. They borrowed the money, lived it up and now don't want to pay it back.
It really is that simple.
But why offer them the money you know they cannot pay back? I know they had help from folks like GS (along with Spain and Italy and others) to cook their books and count things as assets that were not, and hide debt. But do you really think they "deceived" their lenders? I don't. Like the folks packaging the bad MBAs (and telling folks to lie about their incomes or worse) and selling them into the market, Greece was packaged and sold.
The Troika is learning that it is hard to play a game of chicken against a bucket of KFC.
I'm not sure, but I think that's too funny ;-)
off the hook
I only had a few moments to read the first 15 comments but found it sad that most seemed to agree that Greece was DOA. I thought this was Zero Hedge. Since when do most of us here put any credence into what an EU official has said? I thought the majority here supported self determination. Since when has the EU been about anything except enriching a few at the expense of many.
I wish Greece the best. I give them credit for standing up to the Troika. I am going to reserve an opinion of what is going on until something actually occurs. For now I have heard nothing resembling a Communism takeover. Private property has remained private. Bank accounts seemed to have been left alone.
Back off- they challenged the Central Bank. For those of you who haven't trashed Greece I will give you an up vote later. TTFN.
#PrintDrachmasNow
Maybe the First Wookie can lead a Twitter campaign for them? #BringBackOurDrachmas
Everyone who claimed (correctly) that the EU was doomed to failure should have been able to take advantage of that.
You can identify the ones who didn't and still don't understand the ramifications.
They are consoling themselves by blaming central bankers instead of making money off them.
Greece is all for printing their way to prosperity!
Digging your own grave is cheaper than buying one.
I thought I read somewhere that Euro banks derivative exposure to Greek bonds was somewhere in the neighborhood of 4 trillion bucks.
That might leave a few bruises if things keep spiraling lower as they look to be.
Will there be a new definition of default by the ISDA?
http://news.firedoglake.com/2012/03/02/derivatives-governing-body-says-g...
I really want to go BWAHAHAHA here.
But I won't. I don't want to hurt the feelings of those hard working investors.
When Tsipras started talking about German reparations, little did he know that he would split Pandora's Box wide open.
Already, claims are coming forward from Romania, Bulgaria, Serbia, Albania, Kosovo, Montenegro, Turkey, Syria, Lebanon, Israel, Egypt, Iraq, Iran, Armenia, Turkmenistan, Tajikistan, Uzbekistan, Kyrgyzstan, Afghanistan, Pakistan and India demanding reparations for Alexander the Great.
Alexander the Great is also being claimed by Macedonia, so it seems that Greeks have some wiggle room here.
Greece's "humanitarian crisis" is that Greece has too many humans, ie Greeks, especially corrupt and unproductive ones.
Sollution is simple: just get rid of the excess "suffering" Greeks, and the ones in the HYPER bloated corrupt anti-entrepreneur government. Then no need for money to subsidize these parasites.
Problem solved !
Why do you assume enterpreneurs are "productive?" After all, industry doesn't retire its debts; it just keeps borrowing.
You know nothing about entrepreneurs or business because you are just an entitlement parasite or a no-collar unskilled laborer. You have accomplished nothing, built nothing, earned nothing, and have nothing useful to contribute, you are just an incompetent failed idiot with a computer and web connection dumping your ignorance and ideological garbage into the blogosphere.
Come back AFTER you have successfully started and run your own business.
Prober,
Industry doesn't pay for itself. Maybe it will someday, but now it doesn't. Entrepreneurs do useful things, but paying for themselves. It's not how the system works.
Come back AFTER you have successfully started and run your own business.
Until then, shut your asshole mouth ranting on topics you know NOTHING about- and stop toking on the bong !!!!!!!!!
You are partly right hohum. Entrepeneuers pay for everyone else first since they are taxed at confiscatory rates. They labor night and day to hack out a living for themselves while over 50% of their created wealth is taken by force and distributed to the unproductive nimrods and government looters.
better for them to dig their own graves, it shows that they're still alive
Hmmmmm, sounds to me like the EU is officals are shitting their pants. Advantage Greeks.
When the GREXIT happens (if so) you can be assured that these 3 things will occur:
1. stocks will rise
2. US Treasuries will rise
3. gold & silver will get smashed
I think there are alot of Greeks buying gold and silver right now.....as a safe haven......and quite a few people in the EU that have the knowledge of what debts are out there...that are going to go bust...probably because they sold them....and knows what will happen when they do go bust....are buying too.....and are probably making travel plans also.....some crap is going to hit the fan when Greece defaults on their debts.....and the casino will close very quickly....I bet the Fed has a hand in the end game too...
And the market is ramping up ...
well, then Eurozone goes bust as well. So what?
The end of yet another in a long miserable line of socialist/marxist/communist 'caring & sharing' fantacy visions! So far they are 0-100!
Is there anything more adorable than a freeloader who tells their creditors it is there fault for lending them the money in the first place?
Just before they demand 'much deserved' debt forgiveness & of course a brand spanking new loan package. It all puppies and rainbows!
Merkel and Schäuble should have been tried for treason a couple years ago. They knew full well that the Greeks had no chance of ever repaying or servicing the loans unless they would suck the mark from the population's bones. There's no flesh or blood left as it stands now.
Germans will hold the bag regardless. There is no alternative to this scenario.
When are Germans going to protest the corruption and treason between politics and banking? We have a few oligarchs of our own who need to be arrested and the keys thrown away.
(not junking you fyi)
The Greeks are the authors of their own misfortune! The party was great while it lasted but the hangover sucks! Anyone who lends somebody else's money to these deadbeats from this point should indeed be thrown in jail!
That's what it looks like on the surface. It was a conspiracy from the get-go involving none other than the crooks at Goldman Sachs. The Greek oligarchs played ball and made off with the loot since Greece adopted the Euro. Greece was probably almost molested into taking the Euro because of the location and NATO. Goldman Sachs got its orders from the American MIC. The theories of how and why this conspiracy went down are plenty.
Greece had a functioning economy before the Euro and so did Germany by the way. Neither economy really needed to have this common currency.
So who fucked this up and who was the biggest beneficiary of a common curreny across a halfbaked economic union without a unified taxation and debt structure?
The group that brought the Euro before establishing a proper EU should be held responsible. The cart was obviously put before the horse!
I'm not about to defend any politician or the entire construct & vision of the EU for a second! Ultimately the responsiblity lays with the annointed political types that are are want to rape & extort defenseless & ignorant tax payers. The fearless Greek leadership (sic) of the day were extremely anxious/motivated to join the EU to access the pristine 'AAA' credit rating of Germany & therefore fudged and grossly manipulated financial statements accordingly. As far as Greece's functioning economy that motley crew has been in financial crisis for 90 of the past 192 years & have defaulted (in one form or another) 6 times in that intervening period! The Greeks knew exactly what they were getting into & now have contrived a twisted plan to escape from!
The Euro project was executed without exit plan, in order to use crises like this as the needed leverage for political union of the Euro zone.
Now, let's see if it will work, or backfire.
re Is there anything more adorable than a freeloader who tells their creditors it is there fault for lending them the money in the first place?
Serial-bankrupt Donald Trump?
He is cuter!
This is some funny shit. Reminds me Larry, Curly and Moe trying to figure a way out of some hopeless pickle they got themselvles into.
The new greek commie PM is Shemp!
Yes, Shemp was the smart one, always the one coming up with the schemes.
well, well, well.. whoever was it that planted that "6 months" extension rumor?
German press was all abuzz this morning until the retraction and now Ukraine is back in focus, Greece not even on page 1.
What is more likely? Greece bailout or Ukraine peace or neither?
Well, if they planted it and traded the uptick...
God bless them.
The Algo's got buttf-cked in real time.
re Greece Digging Own Grave...
If only they'd dig one for the USSA while they're at it...
BEEEEEEEEEleve dat
Lets see..they have no income....but want to increase expenses if someone would just loan or I mean give them more money that we all know will never be paid back....I dont see anyone in the world today that is so flush with cash that will just give Greece 20 billion a year to survive...every year....its like your Meth head brother asking for another loan...lol....the EU would be stupid to give them more loans....just stupid....humanitarian aid in a few months maybe...but rice and wheat is better than fat salaries and pensions
Socialism is great .......... and the marxists know they other guy hasn't run out of $$$ yet!
The latest on this is as follows as announced by Juncker of EU :
Agenda : Meeting on Feb 11, beteen EU Commission (Junker/Dijsselbloem) and Syriza to decide the basis of a "compromise" accord along the lines of new Greek Proposal.
Meeting on Feb 12 of 28 heads of government to approve accord (if found on Feb 11) politically.
Meeting on Feb 16 to thrash out final details of accord.
All local parliament have upto end of February (Germany and Finland the most reticent) to approve final agreement.
If no agreement found on Feb 11-16; then we head to Grexit!
Here is the Le Monde summary :
http://www.lemonde.fr/economie/article/2015/02/10/l-europe-espere-abouti...
In Greece everything is going according to plan.
Syriza recognizes the problem is bankruptcy not liquidity.
In a symbolic first act as prime minister, Alexis Tsipras pays his respects to 200 Greeks executed by the Nazis in World War Two.
What message is this sending to the Germans?
Now here is the finance minister talking to max Keiser in the early stages of the crisis:
https://www.youtube.com/watch?v=pwAClUrhrek
Is this a man who is going to carry on taking bailouts and punishing the Greek people?
Syriza are not going to back down.
What are Syriza doing?
They are showing the Greek people they are trying but the problem is the Germans.
Their aim is default.
The sooner the better! With these retrobates its ALWAYS somebody else's fault! Never theirs! Cut the freeloaders loose so they can finally 'show' the world how great & productive their 'self-financed' socialist dream world is!
THAT is the fear of the banks. Totally. Everyone (?) calls an independant a "free loader".