An Alternative Interpretation Of The Eurozone Strategy

Tyler Durden's picture

Given all the chaos this weekend, we thought it time for a little levity...

It appears Merkel et al. have taken the "Conan, The Barbarian" course of negotiation...

 

 

As "The Dude" relays the latest draft of Greek measures directly from Europe...

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Publicus's picture

Germany will be defeated once again during World War 3.

Ayreos's picture

Quality Sunday article from Zerohedge!

Deathrips's picture

Mongol General: Wrong! Conan! What is best in life?

Conan: Crush your enemies. See them driven before you. Hear the lamentations of their women.

Mongol General: That is good! That is good.

 

RIPS

Ofelas's picture

actually taken from Temur-chin (aka Ghengis Kahn)

MsCreant's picture

I don't know what is wrong with Walking Away?

When I was in debt, if someone had just taken it from me, I would have been instantly in great shape, more money coming in than going out. Is it the case Greece cannot pay their way without loans? 

If not, then just walk away!

algol_dog's picture

They have no self sustaining economy. They produce nothing. Sure they can walk away, but it won't be to anything better. The smart move would be to open up business investment to the world, especially Germany, now that they'll have a huge pool of people who'll work for peanuts. 

neon con's picture

Are you nuts man? Greece can produce anything, ANYTHING! The best climate and big natural sources. Unless you are talking of cars. Who nees another car company?

Ofelas's picture

Turkey came to the same conclusion...several years ago

FreedomGuy's picture

They actually had a lot of raw material industries. There are lots of photos of them closed up on the internet.

Just look at their tax structures and you will find it a miracle that any commerce takes place. They have every tax known to man and at very high percentages.

I think your best bet is to run an illegal hot dog and lemonade stand near a tourist beach. Work in cash and pay the cops not to harass you.

Arnold's picture

But no one pays them...........

oh wait...........

joseJimenez's picture

They can get some cash from a Russian pipe line.  Oops, did I say that??  Also work with Germany for trade but not under the Euro but rather their own devalued currency.  The problem I see is that from where I am standing no one can think out the box for anything other than dependency and bailouts.  Their people have receive too many frontal lobotomies.  They could teach the kids, if not too far gone, how to build business and create wealth. Which I think is Greek even to them.  No matter how you slice it, its going to be a long hard road to financial independence. 

MsCreant's picture

"The problem I see is that from where I am standing no one can think out the box for anything other than dependency and bailouts.  Their people have receive too many frontal lobotomies."

Right there, bingo!

I was in a marriage where we were close to going BK. I cut back, got us a smaller place closer to work, sold furniture (in some cases made money on it rather than losing), cut loose all kinds of spending, etc. My spouse was angry and mopey the whole time (he had lost his company). To me it was a game, fun, a time to have an up attitude. And later, it paid off. And later we divorced and he went BK on his own and I got out of the debt he left me. The ability to go outside of the box is key. Cutting back is not the end of the world. Think of it as a means to an end. And when you succeed it feels great, you feel in control of your destiny, and you don't over do it when you do have money, because you know you may have to downsize one day and you will be glad to have the resources.

Greece needs a national attitude that sees the down sizing as freedom, control, and a means towards a future that is brighter and better.

Milestones's picture

Good, on target post!!Congrats!               Milestones

Benjamin123's picture

Ukraine gets cash from a Russian pipeline and look what that got them.

MsCreant's picture

"They have no self sustaining economy. They produce nothing."

If you are correct, then they can't pay the debt. The must downsize and default on the obligation.

If you pull in so little, you cannot support yourself without loans, you are already done for. You are living above your means.

There is no option.

They have to walk away and as you suggest, look for business opportunities. Like you and I would in this situation.

I sound like a broken record but I will repeat it, "Why is this so hard?"

I can answer my own question. I have watched some relatives go bankrupt. There is this way they keep trying to keep it going, waaay past what is healthy, hoping for something to change, to get some break that never comes. But finally, the towel gets thrown in and they must BK. 

Greece needs to throw in the towel. Every dollar wasted attending one of these meetings is a dollar that could go to recovery. Every day wasted in debate is a day that could be used to plan the exit. 

I really do think it is this easy. Repudiate debt. Make friends with Russia and other outside investors who are waiting for them to be on healthier standing by waiting for them to repudiate the odious debt. Start talking business (as you suggest).

Milestones's picture

See above comment>         Milestones

FreedomGuy's picture

In a rational world they spend their time working on a structured default and then restructuring government.

However, history seems to show that governments have no real learning curve. How many defaults has Argentina had?

KnuckleDragger-X's picture

To walk away from something, you need something to walk toward and Greece has squat....

ANestIOS's picture

Try to answer this: what leverage does germany have over the US? (to so openly defy direct "requests")

Rumple4skin's picture

Wall Street are on the hook for all the 'Credit Default Swaps' (or whatever insurance) should the Greeks be forced to default on the debt?

Calmyourself's picture

Now that friend is a great question.  I am afraid the answer would frighten me like a little girl..

yogibear's picture

Now that Greek leaders willing to sign any deal the banksters and Eurocrats come down on them hard.

Greek leaders are desperate.

Like a druggie (Greeks) pleading with the pusher (ECB) for more dope because the withdraw symptoms are too hard to take.

Rumple4skin's picture

The 'Troika' have completely lost the art of diplomatic negotiation. But not, unfortunately, their powers of speech.....

The Delicate Genius's picture
The Delicate Genius (not verified) Jul 12, 2015 2:09 PM

yeah, Germany, which actually makes things, and has managed its economy well, should continue to keep bailing out Greece because the books were cooked by Goldman and the IMF to let Greece into the euro, and they have spent more than they have for decades, and they have an economy based on bringing fat Brits drinks on the beach.

And if they don't do it - why they're being unfair...poo poo heads... and Nazis!!

meanwhile, Goldman's ill-gotten gains shall not be questioned!

neon con's picture

Shall not be questioned because Germany is behind it as well, lol

 

Benjamin123's picture

Ha, Germany produces a lot because they provide vendor financing. Same thhing with China. How cool to sell all day long while getting paid in IOUs from your bankrupt customers. Then act surprised when they find out the IOUs are worthless.

All those financial losses are meant to balance trade. Germans should have never offered so much credit, or they should have worked for less money like any other pole.

The Delicate Genius's picture
The Delicate Genius (not verified) Benjamin123 Jul 12, 2015 3:25 PM

perhaps - none of that means they should continue to pay for the fuckery that got Greece into th eEU, nor its ongoing profligate ways, right?

And vendor financing allowed much of the rest of the eurozone to buy things at lower rates than they would have otherwise.

Its one thing to say seller beware.

Quite another to say - you gotta pay for the mistakes for others after you've already paid for them a couple times.

But anyway - I hear what you're saying.

https://www.creditwritedowns.com/2011/11/the-euro-zone-is-one-giant-vend...

coast's picture

they forgot to add number 9...make all politicians honest. :-)

MASTER OF UNIVERSE's picture

The entire European Union will disintegrate, fracture, and fold in on itself like a controlled demolition of the entire structure. This was evident since the bear raid on Bear Stearns March 10th 2008, motherfuckers. The Oligarchs can attempt to generate all the smoke n' mirrors propaganda they want, but the EU will ultimately be destroyed in a wholesale fashion. Politicians can ignore all the mathematics, but the mathematics cannot ignore them.

 

This is why mathematics is so fucking great IMHO. The buck stops at mathematics, but the buck does not stop at the hands of politicians.

 

Not even the IMF, ECB, EU, Greek, bait & switch can fool mathematics.

Karaio's picture

The guy is not German, is Austrian (and the Austrians are friends of the Russians). Banzai as always, authentic (and very good) will make a better parody. Merkel is only a plump born in East Germany dreaming of Western largesse. When we arrived where he entered the bark like a snail. Do not expect too much of it, to throw salt it dissolves like a slug. : - |

Benjamin123's picture

Chamo por que no aprendes ingles? No te las das de elite brasileña?

Karaio's picture

I write with Google translation principle.

Because I have to understand you with Google's translation and you can not understand me through the same technology?

I read in English, German, very French.

My fellow Latinos and speak Portuguese with read Google translation.

The empire with hegemonic language, customs, practice.

I am against the Empire there, write that way.

There's more, when you write in your native language, you express concise thoughts (that is lost when trying to translate).

Savvy?

You need me to draw on a blackboard?

:-)

Faeriedust's picture

Google Translate DEFINITIVELY PROVES that adequate computer translation is still decades away.

I use Google Translate at work to translate the written appeals of "Spanish"-speaking immigrants for our American government office.  SPEAKING is the operative word here; "Spanish" is questionable, and literate is definitely negative.  I'm sure Google would work adequately if the originals were written in flawless standard Castilian, properly spelled.  Since they are phonetically transliterated by Salvadoran peasants from their own dialect, however . . .  my job is secure until I reach retirement age at least.

coast's picture

just keep in mind...the banks made a bad loan, whether it was a mistake or done purposely (knowing that if Greece didnt pay, then germany would) or (they love the thought of enslaving a country) ..

Banks make bad loans and have to write them off all the time..Greece government should tell the banks to screw off. But they also need to QUIT SPENDING SO MUCH MONEY ON SOCIALIST AGENDAS!!   Who the frick do you think you are Greece, the richest country in the universe or something?  man up for gods sake!

Benjamin123's picture

My personal opinion is that contracts should be written as computer programs with all sorts of IF clausules.

IF the debtor does not pay, then this happens... and so on.

Goes for all sorts of contracts. Why do people assume things have to go one way only and improvise when they dont?

shouldvekilledthem's picture

Check out the concept of smart contracts based on blockchain technology.

Milestones's picture

 Horseshit! If your handshake and word don't work you will never get a fair contract!!!              Milestones

Arnold's picture

I hate to see my Heart disease and Cancer put into the same sentence with the homo Aids disease.

 

It's unAmerican.

ISEEIT's picture

Hope $ Change!!!

 

Are you ready?

B2u's picture

??  I am gonna watch more Dancing With The Stars....I love Tivo...

Niall Of The Nine Hostages's picture

Throw in free BJs for Schäuble from Julia Alexandratou. If she can make him finish, we might just have a deal.

enloe creek's picture

The reality that the world has to few ways for people to support themselves. And so nations have big problems supporting lifestyles on the backs of fewer earners and more non earners. Thought immigration would help. It did not. Can't understand those guys send money home. They live cheaply and support family back home. 

ItsDanger's picture

Who owns this debt and at what price anyways?  Its never disclosed.  Writedowns will have significant impact on related derivatives.  Good luck getting any detail there.  The conversation must start there to proceed in any deal.