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German FinMin Blasts Greek Proposal: Debt Restructuring Impossible, "Everyone Knows They Can't Be Believed"
In the face of Latvia's outgoing President's comments, that debt writedowns for Greece will only come after the bankruptcy of the state...
"this [Greek] debt is so big that everyone understands that it won’t be repaid. Loans to Greece have just bought time so that those in power don’t have to take decisions. This is like a game: who can hold out longer by not showing that this money has been lost? This burden has become bigger and there obviously is no possibility to repay. The debt writedown of Greek debt will come after bankruptcy of state."
German finance minister Schaeuble has once again gone on the offensive this morning saying that "we know from the Treaties that debt relief is not possible," yet noting that "the need for help for Greece is obvious." However, his concluding, seemingly ad hominem, remarks are the most troubling for those expecting smooth passage of Greek proposals and a renewed rally to record stock market highs... "Greeks won't pay their bills... everyone knows they can't be believed."
Bloomberg headlines from Schaeuble's tirade:
- *SCHAEUBLE SAYS HE EXPECTS "EXTRAORDINARILY DIFFICULT TALKS"
- *SCHAEUBLE: DEALING WITH FINANCE GAPS BEYOND THOSE OF PAST
- *SCHAEUBLE: KNOW FROM TREATIES THAT DEBT RELIEF IS NOT POSSIBLE
- *SCHAEUBLE SAYS GREEKS MUST SHOW `OWNERSHIP' ON PROPOSALS
- *SCHÄUBLE: WON'T PAY BILLS `EVERYBODY KNOWS CAN'T BE BELIEVED'
- *SCHAEUBLE: GREEK GOVT DESTROYED HOPE AT `UNIMAGINABLE LEVEL'
More Europe means More Germany: is that really want Tsipras wants... actually not even Tsipras knows what Tsipras wants.
Just what exactly is Greece so enamored by that keeps them in this union - especially when friends are likely waiting to help post-Grexit.
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You forgot the Putin eating popcorn picture. lol
Economic warfare, pure and simple. Remember the treaty of versaille?
Of the many provisions in the treaty, one of the most important and controversial required "Germany [to] accept the responsibility of Germany and her allies for causing all the loss and damage" during the war (the other members of the Central Powers signed treaties containing similar articles). This article, Article 231, later became known as the War Guilt clause. The treaty forced Germany to disarm, make substantial territorialconcessions, and pay reparations to certain countries that had formed the Entente powers. In 1921 the total cost of these reparations was assessed at 132 billion Marks (then $31.4 billion or £6.6 billion, roughly equivalent to US $442 billion or UK £284 billion in 2015). At the time economists, notably John Maynard Keynes, predicted that the treaty was too harsh — a "Carthaginian peace", and said the reparations figure was excessive and counter-productive, views that, since then, have been the subject of ongoing debate by historians and economists from several countries.
Fuck the Germans. Didnt they get debt relief after the war? And who put them in charge of the ECB. Why are there a bunch of Germans and Dutch in charge of the Bank?
Soros allegedly funding Tsipras:
https://xaameriki.wordpress.com/2013/02/27/soros-yza-billionaire-currency-speculator-funding-and-advising-tsipras/
http://greece.greekreporter.com/2014/01/21/george-soros-opens-solidarity-center-in-greece/
Soros also stirring trouble in Macedonia :
http://macedoniaonline.eu/content/view/27443/1/
I don't think he knows what the word impossible means, but either way if the debt is not restructured or money isn't just printed and handed to the greeks unattached to more debt, than the debt will not be repaid...period.
I suspect that Putin has sufficient economic worries of his own.
So will you very soon if it hasnt already happened eurocraut.
Soros blaming Germans for messing-up Greece back in 2014:
http://www.thetoc.gr/eng/politics/article/soros-the-germans-messed-up-greece-bailout
On a daily basis Greece is being accused of a lack of willingness to reform, including tackling tax evasion and avoidance. In March, however, Greece introduced several measures to improve tax collection and to counter tax evasion and avoidance in a structural manner. But the Troika itself has asked the Greek government to repeal these same measures. In doing so it is practicing the opposite of what it is preaching.
In other words, the Troika and several European leaders are guilty of doublespeak. They are criticizing the Greek taxpaying ethic, meanwhile opposing any Greek measure aiming to restrict tax evasion by multinational enterprises and capital flight.
On March 21th 2015, a new law (4321/2015) was published in the Greek Official Gazette, addressing tax evasion and avoidance committed by multinationals. This law introduces a withholding tax of 26% (equal to the rate of the company tax) on transactions with tax havens or transactions with letterbox companies that have been set up precisely to avoid taxes in Greece. If one can prove that no letterbox companies were involved, it is possible to recover the withholding tax within three months(1). Criticism from the big financial consultant companies followed soon thereafter. KPMG reacted in March: “Greek legal entities will finance the Greek State at no interest cost to the State, using capital to which they already have difficult access, channeling liquidity away from further development in Greece.”
Fact is, the Netherlands and Luxembourg, among others, have been facilitating tax evasion through multinationals since the financial crisis. Almost half of all foreign capital in Greece is being diverted through the Netherlands and Luxembourg, mainly through letterbox companies. The Netherlands play a particularly important role in capital flight from Greece. The capital stock from Greece in the Netherlands increased from 3% before the crisis to almost 16% after the crisis.
Source: UNCTAD
The Troika document ‘Actions to be taken in consultation with EC/ECB/IMF staff’ (June 26th 2015) was the last proposal to Greece before the referendum. It shows the intention of the Troika to reverse these measures. Even more remarkable: simultaneously, the Troika is asking the Greeks to raise the corporate tax rate from 26% to 28%. This means, in fact, that they are demanding a higher tax rate for the local Greek companies, but are ignoring tax evasion by multinationals.
This much is clear, Luxemburg and the Netherlands are facilitating tax evasion from Greece by multinationals with disastrous consequences for the Greek public budget and the Greek citizens. We can ask ourselves the question to which extent the governments of Luxemburg and the Netherlands insisted on this.
Yanis Varoufakis analyzing Soros ideas:
http://yanisvaroufakis.eu/2012/03/15/assessing-george-soros-latest-plan-for-saving-the-eurozone-prelude-to-modest-proposal-3-0/
DYODD
Why is it that Schaueble always reminds me of those Dem "Panic"Ads against the opposition to Obamacare involving pushing Granny in her wheelchair over the top of the cliffs? And why is it that I feel also inclined to want to do the same to Schaueble?
Whenever I see Herr Schaueble I can't help but to think of Dr. Strangelove.
Schaueble looks like Yoda's great grandfather.
Again, TSIPRAS IS LEAVING THE BALL IN THE TROIKA'S COURT SO THEY'LL BE TO BLAME FOR GREECE LEAVING THE EU
So this response is exactly what Tsipras wants before he resigns next week so he can say the Germans made Greece leave the EU.
It's ALWAYS been all and only about politics like this with Greece on both sides.
I wouldn't guess at Tspiras's plans, goals and motivations. His actions could be consistant with a lot of different end goals, and those goals could change based on the changing circumstances.
Oh c'mon.
How much moar obvious can it get!?
It's all over for Greece in the EU and for Germany ever getting their money back from them
So the only thing left to play for now is the political fall out.
And both political sides win here at the expense and suffering of the German and Greek people.
The German leadership looks tough to their constituents while the Greek politicos are blameless to their sheeple.
Same as it ever was.
Yes, you are spot on. But these things take time to play out..., as they have to be handled "delicately"...
How can you rule out the possibility that Tsprias isn't a little bitch that caved to EU threats and betrayed his people? He is a politician. Who is to say that he didn't bite off more than he can chew? Who's to say that he's not some shrewd politician that is doing what you say? What we have seen is consistent with multiple narriatives.
Tsipras is another happy-go-lucky chancer who got into power by irresponsibly promising people an easy way out of their problems (debt relief etc. with no Euro exit or even a credible threat of one). It's unlikely he's had a change of personality and now wants to go nuclear with the Troika. He may want to win the blame game if there is a Grexit, but most likely his Plan A is to try to stay in the Euro, and in office, and then play it by ear.
"got into power by irresponsibly promising people an easy way out of their problems"
Like every other politician I have ever seen....
The banksters believe that the penalty of not paying back debt is deep slavery. People are nothing short of collateral, therefore make them work for less with more tax burden.
If anyone ever needed a thorough illustration that debt IS slavery, this Greek event is it.
If anyone ever needed a thorough illustration that debt IS voluntary slavery, this Greek event is it.
Fixed it for ya. :-)
Except that there's nothing voluntary concerning sovereign debt.
Maybe this is totally naive on my part.......but I thought the Greek Parliament was the voice of the people. A massive crowd of "People" could easily erect a guillotine on the steps of Parliament and politely ask Parliament to reconsider their decision.
They won't because the Greek "People" want the economic pain to subside and the banks to re-open. They do not want even more pain. Self interest always trumps the interest of the people, regardless of whether we are talking about corporate CEO's, politicians, bankers or the average Greek Joe.
So.......at least in this case, in my opinion sovereign debt is voluntary.
There's that weird psychological trick called fear of loss or whatever. To prevent oneself from losing $1, one will forgo numerous opportunities to earn hundreds of dollars.
You can steal anyone's future so long as your promise they can keep their present.
Re-posting this Cog, as it needs to be clear what a nonsense this situation is:
---
Fortunately this 'yes' parliamentary pass is only a super re-intensification of the austerity, which the Greek 'democracy' voted 61% against, 1 week ago.
However, examine the speech Tsipras gave immediately after that parliamentary 'yes' vote. Paraphrased he said, "This confirms the validity and confidence in the PM and the new Finance Minister, and in the Deputy PM."
Yet on the streets, Syriza party members were shown tonight on the 'news' tearing up their party membership, saying they feel incredibly betrayed, on the verge of very frustrated tears, protesting the collapse of democracy.
And Tsipras feels his govt has just been bestowed renewed credibility by a chamber 'yes' vote?
No. He knows perfectly well that he's personally just totally trashed his govt's cred and his own cred, he and his govt have just done the exact opposite of its election mandate to rule, and referendum election as well, in about every way possible.
Total betrayal of the electorate's will, with the strong intensification of austerity terms to come, equates to a vote of confidence, for giving in to that?
In other words, he's far less principled than any Greek PM before him, and personally decided the people must have no choice at all, just have the bait dangled of a fake electoral 'choice'.
Untenable, non-credible, unbelievable, non-trustable ... and a whole bunch more.
Maybe this is totally naive on my part.......but I thought the Greek Parliament was the voice of the people.
My goodness, you don't really believe that, do you? Is the American Congress the voice of the American people? They're all bought and paid for.
Except that the Greeks want Euro membership and no austerity. Along with that comes sovereign debt. Until they understand that EU membership means more sovereign debt, it kind of is voluntary. But, they'd probably vote for social benefits without the Euro anyway.
So basically, they can have liberty from unrepayable bank debt-slavery ... but to get the Euro lollipop, which they now say they also want ... they have to double down on austerity?
Well let's face facts here:
The Greeks cheered-on when Tsipras went to Moscow, because they thought they could get a savior there and a better bailout.
Nope.
So now they suddenly don't want to leave the EU huh?
Because if they do, they also close all doors to getting more of other people's money, in their coffers, and in banks.
This is not a quandary, it is pathological. They can get out from under that debt load, and restart the economy and a new govt with NO PUBLIC DEBT LOAD at all!
And they're still quibbling and negotiating with the EU? ... to say in?
The people who want the relationship to remain in, I suspect are not the people, it's the slobs in their own parliament, who feel they want to siphon some more of other people's money out of the EU still.
i.e. they would like to leave the defaulting until later, let's say maybe 2017, because after all, this is totally unrepayable, so they will in fact be defaulting, sans a major haircut.
Therefore, let's see if the EU are dumb enough to go for it once again!
I'm guessing no, they won't = if you default you're out, if you stay there's no haircut and far more austerity.
So to my mind, it's clear Greece is being shown the door, and is being told to ... GIT! ... go on ... GIT!
Taxation without representation works for me. I got a chuckle out of shrub bush saying he would not nation build. Of course, the cfr planned to attack Iraq for many years before this promise, all they needed was to get gw in office.
lol...
"Debt Relief Not Possible"....let me introduce you to "debt payments not possible"
Does this guy think he can outlive this crisis?
Because we want the Euro to be as strong as the Deutsch Mark, not as weak as the Drachma.
Didnt they get debt relief after the war?
Yeah they did, and the Greeks haven't even gassed anyone; the bloody nerve of them.
The tribe, the tribe, the chosen tribe! Not the Germans and Dutch.
Germans are not the problem. the euro is.
"Germans are not the problem. the euro is."
And the euro is the deutschmark. So Germany is the problem, indeed it is.
Three wars in Europe in the space of a century, and now financial domination and inflicted austerity. In Europe, Germany IS the problem.
We'd like to help you but the Treaties say we have to kick you in the teeth - sorry about that but we're men of our word.
If you want to read the comments and Op-Ed articles from Greece's recent FM, Y. Varoufakis, go to his website: YanisVaroufakis.eu
The Comments section also has some noteworthy posts, most of them from Greeks themselves, albeit the tone and language is more civil than what we're used to here on Fight Club.
Everyone knows Finance Ministers and Treasury Secretaries can't be believed.
Agreed. What people don't know is who to believe.
<Hint.........nobody. Once that 'fact' is fully embodied the healing can finally begin. But not a moment sooner.>
Not just people in Greece but also other EU members should pay close attention to this latest in a long line of revelations about Herr Schäuble. He is a scheming, machiavellian deceiver with the ethics of a scorpion, and a trust factor of -82. He lied in 2007 about surveillance, he persuaded Papandreou to lie about the size of Greek debts in 2010, he has persistently lied about “the cost” to Germany of Greek default, he lied about the Spanish ‘recovery earlier this week, he lied about the situation in Portugal during 2012, he lied to the Cypriots in 2013, and he orchestrated a foul FinMin attack on Yanis Varoufakis last week. This last bit of bullying has now backfired on Whining Wolfie, but lest we forget, here’s a reminder: the eurozone is about to get an amoral secret policeman as its head of eurozone fiscal matters….a man happy to let the US ride roughshod over EU citizens’ privacy, happy to work with an ECB Chairman at the same game, ever-ready to depict the Greeks as cardboard Untermenschen, and willing to pull any stunt – however despicable – in order to “win”.
https://hat4uk.wordpress.com/2015/05/01/revealed-how-schauble-spied-for-...
Things must be getting serious.
..and he gets away with the lies because 98% of the population doesn't understand finance or economics. The remaining 1.999% are too propagandized to think governments can be so deviously deceptive at the fiscal level, and the .001% are too mentally exhausted or depressed to resist the bullshit anymore. Some still willing to fight come here.
German confidence building? Obviously Schaeuble wants Greece out of the EU to set an example.
Schäuble reportedly told Greece: 'How much money do you want to leave the euro?'German finance minister Wolfgang Schäuble wanted Greece out of the euro and was willing to pay the country to leave, according to Mediapart, a French investigative website.
http://www.businessinsider.com/schuble-told-greece-how-much-money-do-you...
A wise player would have said " how much gold you got "
Of course if the Greek economy improves within a year of leaving, then it would set a different Example than was perhaps intended*.
Central Planners would want Greece to turn into a failed state, if they are to deter Spain and Italy from following suit.
* "If you want to discipline the Monkey, you must decapitate the Rooster." - Chinese proverb.
Those without cognitive dissonance will agree with FM Schaeuble' statements made. It will be unfortunate when he is fired this Monday.
Sadly I do have Cognitive Dissonance. :-)
But it's not even real money anyways, right? They can just keystroke 350 billion into existence again, right? lol. Modern monetary theory. Chartalism. It'll be the end of us all, just a matter of time.
But...but...but it's all based upon rules dammit. Rules I tell you.
Without rules it would all just be pretty colored toilet paper.
Those plastic Canadian notes fail to serve even that function.
I bet its never a problem printing extra euros for the ECB banks operations, Mediterranean getaways, luncheons, and dinners at fine restaurants. Not to mention nice salary and pension packages,and mistresses. The bankers feast on your fiat while you rot waiting at an ATM.
But I live in America. That would NEVER happen here.
MMT is the excuse the bankers offer as a cynical false technical' solution' for the debt they've loaded up in insolvent banks, that spineless bought govts utterly refuse to bankrupt away, to make life viable for the people who voted for those governments.
Read: http://www.zerohedge.com/news/2015-07-09/rick-santelli-unleashed-its-not...
So why vote?
Why do anything such govts want for that matter?
They hit you with tax to pay for bank loses of insolvent banks!!!!!!!!!!!!!!!
Bankrupt the crime gang and get the hell out of our lives and pockets.
Or else your government is only our fucking E N E M Y .
It's that clear-cut governments of planet earth.
"You forgot the Putin eating popcorn picture"
Maybe the photo then Putin in a facetime photo (upper right hand corner eating popcorn).
Putin getting entertained while the EU destroys itself.
Is this Schaeuble speaking for himself or as Mutti's mouthpiece?
We all know she has the final word.
A basis for negotiations? Wasn't Monday morning the final final deadline? What a surprise.
good cop/bad cop negotiation tactic...starring Mr. W. Schauble as bad cop and Angela Merkel as good cop. Watch: https://www.youtube.com/watch?v=ktqKNu4N9Ds
Hegel approves.
One fiscal union, coming right up!
Don't kill the messenger
Jesus Schäuble won't be happy until a proposal contains turning a percentage of Greek people into soap.
Or at the very least Soylent Green.
<Yum, tastes like chicken.>
Screw you, Detusch bank.
Schauble - appointed goy bearer of bad news while the prick shysters hide behind the curtains.
I need more popcorn ... brb
Fuck Germany. Germany is the biggest debt deadbeat in world history. It's utterly disgusting that Germans have the chutzpah to lecture anyone about paying debts.
Schäuble sounds like a gold standard cunt.
I can well imagine his role if this were 1940.
The Greeks will sign or say anything to get the banks open again. Then they'll continue doing what they want anyway. If they only had the balls to go on to a silver backed currency or other hard money. Of course socialists don't like honest money.
I am just happy that Germany did not win WW2.
Really? They seem to being doing fine now.
"You're Greeks so we're going to give it to you Greek style"
-Schaeuble
One day Germany will have enough dealing with hopeless EU members and leave the EU and NATO. And they will trade with who they want without the shackles of Washington.
The psychotic trap.
Another union which needs to be preserved. War guaranteed. Just like the union Lincoln wanted to preserve at all costs.
Oh, smooth move, sunshine: rediscover the no-bailout clause after the bailout. Of course your reverence for European law didn't stop you setting up the bailout in the first place, but that's OK because the precise wording of the Treaty doesn't prohibit member states making each other loans that can't be repaid, mmmhmm? No worries, Greece can formally just default on its commitments to other member states: nothing in the precise wording of the Treaty to prevent that is there? Oh, what's that? You wouldn't like that; wouldn't put up with it? Well, maybe your reverence for the law is not in fact the real problem here then eh?
Well Greece could up the game, invite the Spanish Finance Minister and President for talks.
test
Grexit then, done....
Bill for my services $100,000,000,000,000.00
2% discount if paid in full within thirty days of post.
No problem. I'll pay you cash.
https://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Zimbabwe_%2410...
Tsipras gives the impression of wanting to stay in the European Union, but is looking for Greece to be kicked out. So he can default and be able to blame Europe for that. So he will be able to say to the Greeks: I did as much as I could to stay in, but it is they who do not want us in.
Soon signs displaying "ARBEIT MACHT FREI" will be erected at all Greek ports of entry. The only exits will be the gaping maws of crematoria to dispose of emaciated laborers.
"Just what exactly is Greece so enamored by that keeps them in this union - especially when friends are likely waiting to help post-Grexit."
What one has to understand is that these are leftist idealogues. If you run through the Evan-Pritchard posts at the DT, he did one right after Yanis was pushed out. In it, Yanis was more concerned about the rise of "right wing" reactionary governements in the Eurozone than he was about the plight of the average Greek. The end game of Yanis' strategy wasn't to leave to Eurozone, but to create an "uprising" in the Club Med countries.
Crazy you say? Actually, mad is the better term.
PS Confirmation of the above is the facial expression of Tsipras when Nigel Farage was speaking at Thursday's session. You can see the hate!
https://www.youtube.com/watch?v=94UcyJnRcGU
SCHAEUBLE is the only one with the stones to tell it like it is.
To me schauble sounds like a miserable, embittered, ugly old cunt he takes up space and oxygen.
The fact is that the Germans (specifically the business sector) wants to leave the EU, but they are stuck by the political side controlled by D.C., Tel-Aviv, London, Brussels and the main hive in Vatican City. If Greece can exit, then the entire EU can be broken. Germany would be the first to turn East and join the Eurasia Trade Pact. The "Western Central Banking Cabal & Associates" do not want this to happen. Isn't interesting that when this unholy union was formed there was no provisions for an exit or for debt relief. Rather than bringing a common Europe together; it has created strife and division across Europe. Does anyone believe this is NOT by design?
-----------------------
Look at the middle east where the Al-CIAda operates and look at the US where we have taken a giant step and now legislate from a judicial bench immorality; we see intentional division of people everywhere. A nation or world divided cannot stand and it will NOT; not even for the criminal, genocidal-eugenic elitists. The outcomes of all of this is summed up by the word of God. "Man is born to trouble as the sparks fly upward". I find this to be true. I believe the enemy is vastly underestimated, for the warfare is in the spiritual realm and is manifested in the physical realm.
Really, the last people who want to leave the EU are the German business sector. The weak Euro and the intra-EU "currency imbalance" are German exporting's greatest assets.
"The fact is that the Germans (specifically the business sector) wants to leave the EU..."
you have no clue what you're talking about. we deal with reality here on ZH, not fantasy. alles klar?
Absolutely the business sector are loving this Greek drama and the damage it does to the euro.
I have a feeling we will never know wtf has been going on here, even after it is all settled.
If recession is the result, they may rethink.
Nice. Looks like honesty is making a comeback.
"German FinMin Blasts Greek Proposal: Debt Restructuring Impossible, "Everyone Knows They Can't Be Believed"
More of the game of Zion Says.
Liberty is a demand. Tyranny is submission..
Zion says, "That you still have a nickle, and they want it."
Zion? Really? For all practical purposes the Fourth Reich is Juden Frei.
The revolution has to start from the bottom up.
Only after some unknown number of bank tellers, police officers and children of politicians have been burned or shredded will the leaders of the syndicate negotiate, or nuke.
Who said "negotiate?"
Liberty is a demand. Tyranny is submission.
Gosh Herr SCHAEUBLE, the Greeks always speak kindly of you.
"Germans will pay their bills… everyone knows they can be believed."
German honor and pride is based on paying their World War I and II debts and reparations in their entirety. And everyone knows that Germans can be believed, especially where "ARBEIT MACHT FREI" is emblazoned over genocide camps and where signs saying "SHOWERS" mark gas chambers.
The Euro is a thinly disguised Reichsmark.
Even if Schäuble is a liar, it's obviously that
1) Greece can not pay back their debts
and
2) Greece does not want to pay back.
So what has come before. I think 2 has come before 1). but for what did the EU started to thro good money after bad. I know many Bloggers who have warned, they were right. So why hasn' it all gone the usual way? The Greeks would have mad suggestion on how they intend to pay back an how much and the creditors would have writen down their gree "assets".
That was too normal and now all the bonds are in the hand of the EU-crats. And if they now have to write them down they have effecly and with no further discussion Greek finance. That is their real problem. how to make this looks as if that all was just...
Greece does want to repay. That's why Schauble keeps saying no.
It's strange the way so, so, so many ZH comments on the Greece issue seem to be anti-German. sad. It isn't as though Germany were the only country that has lent Greece money and could of itself decide to forgive that debt. Germany made the largest single contribution, but France, Italy, Spain, and other European countries made large contributions as well. The German contribution is not even 25% of the whole. Do the commenters really believe that the other countries would be willing to write down that debt and Germany is the only hold out? I don't think so.
I believe that if there were general consensus among the European lender nations that the Greek debt had to be forgiven, the Germans would actually go along with it for the sake of the European Union. But there is no such consensus. It isn't Germany against all other lender nations on this, rather, Germany is supporting the position of the lender nations, and Schäuble is acting as the mouthpiece.
And I think there is a good chance that it actually will come to a de facto debt forgiveness in the form of bonds with an exceedingly long payback period or through some other such mechanism.
Schäuble is the voice of sound fiscal policy within the EU, and I think he is to be supported and applauded.
But naturally, many of the presumably American ZH commenters find it easier to paint a picture of the "Evil German" because then they can feel like the oh so very superior "Good American Winner of WWII".
Once again Germany tries to dominate Europe. Germany played it well with their cheap Euro, co-funced by reunification tax and low salary increase demands which functioned like an export subsidy. The rest of Europe falling for their 'we are fiscally responsible' image and their image of being hard working people (the rest of Europe works just as hard, some even harder).
What Europe needs is not a Grexit but a Gerxit. Germany going back to the D-Mark would instantly make their products more expensive and the rest of Europe more competitive. There for sure would be a run on the D-Mark making their export even more expensive. That would also deal with the image that the Germans have of themselves of being so much better than the rest of Europe, especially the lazy south (where the Germans gladly like to spend their too many days of holidays they have per year).
Come on Greece, the restructuring, new financiers, all of it isbullshit. Why keep paying interest on money when you can print your own. It's not like these banks actually have the money the lend, it's all virtual derivative bullshit. Leave the euro and pay back the banks with your own bullshit currency.
No one want any Greece scam-coin.
No one want any Greece scam-coin.
Greece in or Greece out, the damage is done, the bell has been rung. Is the fan on? Won't matter much who flung the dung.
Greeks being squeezed while nazi's and isis's fighters against putin in ukraine get paid very well.
Billions are flowing towards Kiev.
Not one singel EU newspaper gets permission from the ministery of truth to report on this.
Poor MH17 passengers.
Germany's debt after WWII was also unsustainable. It stood at 200% of pre war GDP. That is why they got a debt relief of 50%.
The one thing you can trust the Germans on is that sooner or later they will try to be boss in Europe. Twice they did with military killing millions and now they try financially. They are killing however Europe, once again.