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"Adolf Merkel": Presenting The Greek Gratitude For The 50% Debt Haircut
One would think that considering that their debt, or rather about 60% of it, was haircut over the past 2 days, the Greeks would be grateful to Germany who not only orchestrated this transaction over the vocal protests of her French vertically challenged counterpart, but effectively has pledged a substantial portion of German GDP to preserve not only the Greek welfare state but soon that of all the other European countries. One would be wrong.
The Mail reports:
Greeks angry at the fate of the euro are comparing the German government with the Nazis who occupied the country in the Second World War.
Newspaper cartoons have presented modern-day German officials dressed in Nazi uniform, and a street poster depicts Chancellor Angela Merkel dressed as an officer in Hitler’s regime accompanied with the words: ‘Public nuisance.’
She wears a swastika armband bearing the EU stars logo on the outside.
The backlash has been provoked by Germany’s role in driving through painful measures to stop Greece’s debt crisis from spiralling out of control
It gets worse:
Opposition parties blasted the landmark agreement, with conservatives warning it condemned the country to ‘nine more years of collapse and poverty’.
But it is the fury of ordinary Greeks which is raising eyebrows.
Greek government officials who agreed to the belt-tightening moves have been portrayed in cartoons giving the Nazi ‘Sieg Heil’ salute.
Greek finance minister Evangelos Venizelos is a regular target in the liberal daily Eleftherotypia and is often shown in cartoons making a Nazi salute.
One shows a German soldier watching over Venizelos as he barks at a Greek citizen to pay more taxes.
In another cartoon, a young Greek answers a German soldier asking why there were no names on a list of Greece’s newly formed labour reserve, saying: ‘They are empty as you exterminated the Communists, the Jews, the homosexuals, the gipsies and the crazies last time.’
And the most ominous sign is that we already are seeing animosity between ordinary people on both sides of the table, people who are part of the proverbial 99%, and who have nothing to do with the disgusting arrangements at the top whose only purpose is to enrich the already uber-rich.
And German visitors flocking to ancient tourist sites are being met with a hostile welcome from some Greeks.
If that last one isn't very concerning, re-read it enough times until it is.
And while geographical proximity between Greece and Germany may be a redeeming feature to what are already preambles to outright aggression, when will geography no longer matter: when the Greek "experiment" moves to Portugal? To Belgium? To France? Is it time to start plant more trees in the Ardennes forest?
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She looks quite cute. I'd fuck her
You can be 100% sure the Bankers will take zero loss on their Bonds.
It's never happened and will never happen.
Good luck!
Agreed, the losses will be compensated by recapitalization. Only the question remains, if the public pressure will keep banksters from generating personal income from it and maintaining the same undisturbed executive power as under TARP and the EUR equivalent. From what I hear, the game seems to be played differently this time: The British considering turning banking into a nationalized commodity, the Germans considering majority equity stakes WITH voting rights in the interest of the public. But in the end, I have to agree, once the dust has settled, those political claims to calm the public will be lobbied into some convinient arrangement and the game will go on and on and on. I bet the banksters have kidnapped and put away all the fat ladies, just strategic planning.
I am increasingly wondering about ZH followers. I thought and have been supported in my thinking by the continuity of Tyler(s) posts that this blog is about demystification and analysis of reality. Not only does the ever-increasing crowd tend to turn populist, mystical and ideology-driven, the sentiment also switches upon input from 'great, the Germans are the last bastion of prudence and force against the capital elite' to 'every German has ever since for genetic reasons been a fascist and generates above average energy from his evil pursuit of enslaving others'. Either one position may be taken, but doesn't it appear somewhat dumb to state such stuff in this environment. I could go to some church on Sunday and shout loudly about my credit conditions, bureaucrats and my medical condition but as a reflective mind I would feel a little embarassed and would think, these poor people now all think you are completely out of your mind.
I was raised to not like Germans (my parents lived under German occupation in WW II) but they are not the bad guys in this piece. The Greeks, Goldman Sachs, the French banks, those are the people to blame. The Germans are just trying to minimize their own losses and rightly so.
The greek comments are definitely over the top, but I have to admit that's a good look for Merkel.
thats cos she looks NASTY ;-)
That photo touched some nerves. I see nothing but further escalation ahead, leading to more failed bailouts and protests.
Aaaah, we have a sense of humour. We will make you laugh.
She looks better than she did - thanks to her hairdresser.
Nothing funny about the evils of Debt Slavery. The picture presents it well.
if tyler had posted this from germany he would have been arrested for hate crimes.......
You can bet hymie is pushing through a trial in absentia as we speak. TD's next visit to the fatherland will come with a free 'David Irving slept here' tour. I'm sure he's been in their crosshairs for awhile since they despise the free speech that he promotes.
what was it just a few weeks ago, hank williams jr made some offhanded comment comparing someone to hitler and before he could say, there is a tear in my beer, his song was kicked off monday night football............so its here already. they are doing it where they can. td will feel the wrath of zhid, possibly via google advertising revenue, make no mistake about it. it ain't over yet, believe me.........time will tell......
also yes its true. he can get arrested if he ever goes to germany and someone brings this up, while he is in country, or even if he is australia or canada too. the long arm of yiddish memory will find him if he ever leaves the states........
this is not a joke either. very serious.
Zorba the Greek as a State Tourist Guide making $65,000 Euros per year ? Monedas 2011 Comedy Jihad Acropolis Metropolis
Short is the joy that guilty pleasure brings.
Euripides (484 BC - 406 BC)
http://www.stevenredhead.com/quotes/ancient/
Nothing wrong with making a few beans on a short bet...he had it right way back then...
Sorry, no compassion for the Greeks. They have defaulted several times in the past 200 years, a large portion of the working class works on the basis of corrupted handouts/salaries/benefits from the government, as has been their tradition. They owe it all to themselves, and the politicians they voted for.
Besides, they cost me as a Dutch tax payer already some 5 to 10k euros, so my blessing to them is: shut up, start working, stop whining, or go to hell.
it is most probably not the fault of the average greek person, but rather the Greek Mafia and the corrupt politicians.
Same like in Italy.
The only one who is suffering in Greece now is the average guy, although it's not them who have been fraudulent.
The rich who corrupted the system are already hiding on their private islands - in the carribean.
The trouble now is:
bailing out Greece with sound money, will only benefit the bondholders who manipulated the system in the first place - like Goldman Sachs - which helped Greece in their corrupt accounting since many years.
Now let's see: while it sure is ingenerous to portray Canchellor Merkel that way the situation is that private sector and banks in Greece will bear the major part of the haircut then they will charged upon with new 140billions loans kindly provided by IMF and BCE (privileged creditors, that is). If I were Greece I would call for general mbilization and kindly refuse any other help, but from Correa and his likes...
ROFL, this IS what Germany deserves. (not the reaction to the tourists mind you...that the consequence of fascist actions...yet still it's wrong to blame the tourists...just a natural extension of 'you're here, german banksters and gov't officials aren't').
People need to quit looking at this crisis through retarded monetary viewpoints. Austrian AND Keynesian are bullshit.
Last I checked Greece's welfare state isn't doing too well. It's funny that people with dogmatic monetarist viewpoints of one side, criticize the other idiot monetarists on the other side. YOU'RE BOTH WRONG.
So a 28 percent haircut on unpayable debt to banksters, with the Greek pensioners having THEIR bonds haircuts, is a thank you? Why should Greece thank them? Is this a solution to the problem? Should Greeks thank Germany for NOT solving the problem, but pretending to?
People are fucking idiots...oh everybody wants to slam Greece for this? Ask yourself...are you on the side of the banksters? Sure seems like it.
You must Glass-Steagall the debt, because it ain't the welfare state that got us here. It's the MONETARISM. The fraudulent debt that was allowed to be created WITHIN the SCOPE of MONETARISM.
If you don't END MONETARISM, and cancel the debt/push it back onto the banksters with Glass-Steagall then you aren't doing SHIT. If you aren't doing shit, and thus Germany ain't doing shit. What sort of response should Greece give them?
A thank you for something that still won't help stop their economy from contracting, their pensions become worthless, their 'welfare state' from being eroded? People are fucking idiots. Austrians = Keynesians, when it comes to economic idiocy. Both are dogmatic fucktards, who don't know squat about the REAL ECONOMY...i.e. the PHYSICAL economy.
So what did Germany do to the structure of the system that ALLOWS the GREEKS to engage in actions to rebuild the PHYSICAL economy, and get out of debt that is worthless? Nothing. All they did is give a starving man a capful of food to keep him alive in agony another day, rather than giving the Greeks the tools to sow a field. Meanwhile for the capful, they're going to take something from the Greeks, and in the process keep their bankster class going.
Greece shouldn't thank Germany for shit. Anyone that thinks Greece should thank Germany for this is a class AAA rated idiot.
That's like the American public should thank Obama for the new mortgage refinance plan. Yeah, both are about the same in effectiveness. Thank you Germany. Thank you Obama.
How about fuck you.
Glass-Steagall, not more Austrian-Keyneisan Monetarist Bullshit. Both are equal is dumbassery.
Greece still lives under the opressive thumb of the monetarists, just like us, and just about everywhere else. Thanks will come when all of us aren't. Not a second earlier. Anyone calling for boot licking beforehand should realize that there are many ways to serve banksters.
Everyone knows Greece and the world is still going to sink, so on what basis should the Greeks thank anyone? For rearranging the decks on the titanic? Say thanks for that? For pulling another one out of the closet? Throwing one down from first class onto the people below? No thanks.
Glass-Steagall worldwide or you will have the mother of all depression...a breakdown crisis. No amount of austrian or keyensian MONTEARY bullshit will solve this crisis. NONE. Fix the real problem, not the symptoms.
People have to quit being such idiots. It ain't the 'welfare state', it's the fraudulent nature of the SYSTEM. The MONETARY system, the fraudulent debt, the setup of it all, the lack of providing for a physical economy, the lack of even maintaining a physical economy. So if you personally owed 1 trillion dollars to Germany, and they say hey, we'll cut it 500 billion....would that fucking matter? Meanwhile you say, hey buddy I need a job, and food, not a reduction from one unpayable debt, to a less but still unpayable debt. Not to mention Greece in a world of like circumstances, can only survive if not only THEY are freed, but everyone else as well. So until Glass-Steagall worldwide, Greece will continue to sink, more or less, regardless of anything else.
Thank you, thank you, for achieving nothing Germany.
Oh and people are now forgetting the entirety of the situation and now say it's the people sabotaging everything that's causing this. WRONG. Is it shaving a couple percentage points off, sure. But if anyone thinks that is the problem, they are a fucking idiot. People need to stop with this monetarist idiocy. It's entirely a bullshit concept. You don't judge things based on GDP numbers. The whole thing is stupid. They are sabotaging the GDP numbers...no they are protesting, and any pain that is felt, is supposed to be a message. If the gov't then uses that as a basis for more bailout funds, then it is the monetarist dumbfucks in the Greek gov't who are at fault. It is the fault of the bankster class to accept this, because they want their system to continue. So its all just a monetarist game based on sophistry that the Greek gov't and the banksters are playing. No wonder they can't solve anything. They aren't focused on the real issues. Meanwhile people read the whole thing wrong, and that too distracts us from not focusing on the real issues.
It is funny that everybody judges things based on their serfdom. Oh they were undereducated, and underworked, and overpaid? What, by monetary dogmatic serfdom metrics?
Here's a clue, even the educated people are fucking dumbasses, who spent way too much on bullshit SOPHISTRY that was taught to them as fact. It isn't.
We build our reality by the systems we set up. If we set up a system that everyone needs to work 70 hours a week, that's what we get. The inefficiency of the Greeks is subjective based on OUR culture. It isn't necessarily right or wrong, it's what we or they have built up. One isn't right or wrong, but we should all strive for one where we live a better life, and in that, working fairer hours and being paid enough to live, should be the goal for any society. So people should start to realize just because their serfdom was better than your sefdom, doesn't mean your way of being a serf is higher and mightier in the eyes of a god than theirs. The numbers in accounting books HIDE reality from us. They show us a lie that every number is equal, and that everywhere is just like here. (or needs to be).
No, every culture deems what should be important. Every human being DESERVES basic human rights. We are smart enough as a species to account for that, build/maintain a physical economy, and then have the useless shit on top of that. But today, we say, we need the useless shit first, damn the physical economy, damn the human rights. That's monetarism. The bullshit comes first. People need to wake up and smell the coffee, before the monetarists convince you as a serf that there is no way to provide you a cup, or your money won't buy it, you don't deserve it, or so on and so forth.
Quit thinking like a monetarist, then you'll know how to view the economics of the world, how to view the Greeks concerning the Germans, and know why Glass-Steagall must be enacted, and why the scourge of monetarism upon this planet must be ended. All this other stuff, not concerning the physical economy, or promoting the switch to a non-monetarist American (Hamiltonian) credit based system, is just kabuki theater.
Glass-Steagall
Repudiate all debt to free yourself and destroy the system.
Ochi day, ask Berlusconi. Sorry that is tough, but what do you want. Spend as much as you want to from your tax receipts or raise capital.
Don't know, if that is your point, but Glass/Stegall symbolizes a whole movement that very really effects Greek pensions now. The partial involvement of the public in the debt game of the capital elite.
How can depositors held responsible for the speculative hedge fund practices of a bank, of which not even the brightest minds have a proper risk analysis.
How can the Greek (or the Calfornian teachers or the Italian workers or ...) be directed into a promise with their payments to a future minimum living.
That movement, symbolized through deregulation policy prepares the public for the endgame and ensures that they will fight the war of others for their survival and the power of others. Practical slavery.
that was kind of my thinking also. germany is just digging themselves a bigger hole, assuming it was about soveriegn sustainability anyway (i don't think it is). both sides are losers in this equation, just another chapter of oligarchs garnering more control and wealth, and serfs pushed farther towards squalor. just like here in the states, and the rest of the world, the only real winners are the shadow bankster elite who are making out on both sides of the deal. as usual. *(&^'ing bastards.
Greece...I hope you enjoy going back to the third world, you lieing pack of criminals!!!
FU Greece!!!
Another idiot. Greece is not the problem. The debt is the problem.
I see the eye-holes in your paper bag are only drawn with a pencil...
Two choices:
Civil/regional/world war(s), or a Debt Jubilee for all working families of Western Democracies; the banks and the military-industrial complex would certainly prefer the latter.
There won't be any more war between civilians, only civilians against bankers.
We can hope, but who controls the media?
The Fifth Estate needs to be subverted first; perhaps social media is the answer, though mob thought is unpredictable.
I think social media now supercedes traditional media. Those controlling the traditional media try to infiltrate social media, but their efforts will be fruitless.
k33p y0r he'd doun
Blaming other people for problems which are actually your own fault is a really bad habit.
Because it means that the real causes of your problems will never be confronted.
True
thats why short selling was invented...because self deceit is a reality......& very popular at the moment.
Intergrity, honesty, truth...not so much.
Give the population the ability to veto any gov policy in a defined timespan after it became public knowledge (you don't need fullblown direct democracy for this, because this kind of direct democracy is optional.... people in this system basically let policymakers make decisions UNLESS the population disagrees).
You'll get massive changes going in no time..... no "the gov can totally act against the population"-shit anymore..... and for the first time like ever, the population will actually be responsible for the actions of their gov.... something which right now is NOT the case!
mann gegen mann. or no ouzo for youzo
So Greek public sector paper shufflers earn $65,000 or so a year and retire at 50 on gold plated pensions?
Fuck me. No wonder they are rioting at the thought of their gravy train being derailed.
German, French and Dutch taxpayers should be doing their nut.
The Greeks are surely the laziest people in Europe.
Average retirment age in greece: 62, BEFORE the recent cuts.
I don't know if public sector workers get a better deal - in any case, you calling the entire population early retirees, is just more of the usual propaganda bullshit.
But you don't really care, am i right? You're just a fucking sadist, who loves telling people "Work you lazy slave!"
You are made of the same mentally corrupted shit as the elite.... you just ended up just being a lesser slavedriver in society.
So, you know, GFY, asshole.
my man Rynak - tell it like it is ....
btw, have you seen "The Century of Self" ... a great BBC documentary ... available on internet
it is quite good, but it could also stand to have been condensed a bit and still get the message across.
For historical perspective, a few selected words by the real Adolf on international usurers:
http://www.youtube.com/watch?v=hypv4UczVeA&feature=player_embedded
Legal disclaimer: I do not sympathize with statists or socialists of any kind, be they national or international.
This shows again that the notion that the Euro is necessary for the unity of the continent is utter nonsense. In fact, our deeply flawed currency union becomes more and more the reason for hostility in Europe and may indeed - instead of being the crowning achievement in the United States of Europe - be the cause of a total collapse and - beware! - maybe even of a new war. As Nigel Farage put it once: "I hope and pray that the Euro is destroyed by the markets before that really happens."
Some Favor
Germany hasn't helped the Greeks. The Greeks as well as everyone else should scuttle the EU mess. Greeks face at least 9 more years of severe austerity.
Whatever contribution Germany is making is not going to help Greek citizens, maybe its helping in other places, or the Banks and bondholders, from facing a greater castrophe for a while.
Nobody in Germany is interested in dropping Greece and nobody wants another Reich. It is not a paradise over here. Unemployment is high and temp work is on the increase.
And mortgage rates are going up now.
If Germany isn't helping the Greeks, then why don't they just default?
Actually Germany &c are dribbling small amounts of money into Greece. Just a bit over what is needed to cover their bond payments and make it worth Greece's while to not default (yet).
Of course, Germany and the others are just looking after their own interests and are mainly trying to prevent contagion or at least delay it as long as possible.
The people in Greece hate their government-- I mean really hate. I mean far, far, far worse than how Americans felt toward George W. Bush. The current government would never default. The PM is serving the interests of "global governance" and the people in his party lack intelligence. If Greeks had a patriotic government, it would have defaulted, as many economists advised even when this mess first started.
The Greeks will default the very second that the EU stops paying them not to.
The only reason that they haven't done so already is that the EU is loaning them all the money to pay their bondholders and is extending Greece small amounts of extra credit. Of cource, the EU realizes that this extra credit is never going to be repaid.
The Greeks can blame Merkel and the EU for austerity if they want. But the reality is that even more austerity would be required if they were to default.
By the way, anyone interested in obtaining insights into how the Greek economy really works might want to check out the 1984 Greek film called "Loafing and Camoflage".
Don't blame the Squareheads - they are only taking orders from Field Marshal Geithner anyway...Zorba and all his buddies are no different than the 45m Yanks all on Ponzi food stamps. A Canadian "protester" was interviewed this week complaining about the Bay Street bankers that he never sees when he arrives downtown each morning at 9 a.m. because they have already been at work for 2 hours and that he never sees them because they work for an hour after he leaves downtown for home. "Who would want to work THOSE hours ANYWAY?" was his whiny little retort.
We live in a world of inflated expectations and deflated work ethic. A job is to be EARNED, not rightfully deserved. If you can't find one in the local area, leave and find one elsewhere. Our grandfathers did that, God Bless 'Em...
40% youth unemployment in Spain. What they are supposed to do?
I don't know how much government employment statistics can be trusted. In the US, there are lots of people who claim unemployment but are actually making a considerable amount of money in the cash economy.
For example, my neighbor's gardener insists on being paid in cash. And my neighbor says he was complaining that this unemployment benefits are about to run out.
FYI
http://www.keeptalkinggreece.com/2011/10/28/national-day-parades-turn-in...
What IS Disturbing is that so many members of this supposedly well-informed forum of investment commentary, cannot understand that the loans and other mark to market assets in Greece, now unable to be repaid, were in their origination FRAUDULENT....
Who has given bankers of private sector the right and power to create money from thin-air which they have no assets of their own to empower them to create, and then charge usurious interest on funds they never owned, earned, or were given.
The whole fucking deal is crooked and a means for cronies and gangster associates of "top-drawer" credentials to Loot The Fucking World.
The governments these bankers operate in have no disclosure of their operations and cannot take action to regulate them with any manner of effectiveness because the attorneys and accountants are crooked and complicit in the crimes.
Too fucking stupid to understand that you have been LOOTED Too?
That makes you the perfect stooge and confidence-game pigeon.
dude i think everyone DOES understand that...and where are the prosecutions?
The former Greek minister of Finance called it Paradise of cheap money, I responded: Your party will stop. He was not amused. Okay, Greece is more or less a done deal and broke. Now France is the issue and on the agenda. Key to the Euro is the so called Franco-German alliance. Imho, it is a joke.
Yup.
We have all been looted.
Nearly every cent of private savings, investment, mortgage payments, bill payments - has been levered up by the Oligarchs of Usury - who command the Kelptocrats of Equivocation - and funneled into their personal coffers and utilized for bribery.
The bill has been written and handed to EVERY person in EVERY country to be paid with the debauchment of their currency, equity, assets, and that of their progeny.
To the simple-minded, the blame game is a way to pretend that they have not been looted and subverted as they still have coins jangling in their pocket and some database "money" in an account somewhere like so many marshmallows bobbing in the ocean.
There it is – all these months of tragedy - boiled down to the truth. Thanks!! ebworthen.
It’s important to realize that the players in this tragedy are not the Greek people or the German people or the American people; the players are the bankers and their industrial cohorts who are in the game for their own personal, filthy interests. The people be damned!
And the media, from der Spiegel to The NY Times to Fox News to Obama’s Information Czar Cass Sunstein and his horde of Internet trolls to Hannity, is the voice of the bankers and NEVER the interests of the people.
Jim Chanos on the bail out
also check out his comments 3 min in on China's foreign currency counter parties - remember counter parties?
http://www.businessinsider.com/jim-chanos-not-impressed-by-the-europeans-and-still-shorting-china-2011-10
and finally enjoy - we must supprt LFL
http://www.businessinsider.com/lingerie-football-league-2011-10
Time for the World to Go Greek On The Greeks...
...what a bunch of lazy wine drinking dancing early retirement fools.
Like wall street ... but not as rich.
All productive Greeks exit stage left along with their money
Interesting thing I read today: apparently, Germany in 2001 valued Religious assets at ((981))?? billion marks [edit - probably an error in decimal placing there, junk deserved]. That's Germany only, not any of the other 16 countries. The catch? Well, 'apparently' the German state also pays for a lot of the Christian salaries, pensions and so on, to the tune of 400 odd million a year. I've not done the research to check if these numbers / the tax thing is correct.
But... if I were sitting on a debt time bomb, and had to nationalise something to pay off the debts, then... Henry VIII might be a bit of a role model.
Smarter minds than me (hint: red hats) might have also worked this out.
I've noted in the past few days that you're beginning to pick up the scent. ;)
Fuck that. Merkel keeps the debt slave carousel spinning and the Greeks should be happy? Let's not forget the difference between master and slave.
Greeks are supposed to be grateful to Germany? Are you kidding me? Greece could have defaulted all by itself and left the euro, which is what many economists advised from the beginning. Instead, the Greek government which looks out for foreign interests rather than the interests of Greece does what the EU tells it. Germany all this time has been involved, as has France, because they are bailing out their banks. Germany now wants to create "economic zones" in Greece where Greeks will be paid below minimum wage to work for German companies, it wants to establish a permanent presence in Greece, it, along with the EU, ECB, and IMF have prescribed for Greece a formula that has ruined its economy. The wonderful haircut, if it works as they hope (and it never does) promises that Greece's debt in 2020 will be back to the level it was in 2009 when the whole crisis started. Why? Because they keep lending it money to pay the interest on debts that it can't pay in the first place, all the while creating rules that have shrunk its economy and caused many small businesses to close.
The polticians are displaying madness in their methods to save Greece.
The people on the other hand are not buying the politicians' plans and are therefore displaying method in their madness. In other words their strikes, protests etc are not helpful to a recovery but will in any case sabotage what they perceive to be an unworkable plan which will leave them indebted and enslaved for many years. If they succeed in causing chaos then the whole debt will be written off as a matter of reality.
There is no other alternative than to write off the debt. People will no longer work only to service debt, as OWS makes apparent.
Its funny really, im English through and through im 33 and even after all this time I still think the Germans are trying to take over Europe. I would defend my country and goto war if I needed to, im not happy about this at all! poor Greeks.
Holy shit! English, 33, can't punctuate, and brainwashed!
The next generation of leaders....
*face palm*
Here's some education:
http://www.youtube.com/watch?v=t148GmmBlDs
A German view of the bailout deal
via MEP Dan Hannan
Telegraph
October 28, 2011
http://www.youtube.com/watch?v=5CZr17HLH5U&feature=player_embedded
Worth watching...
the Greek words on Angela's armband translate as Public Danger
I cut that poster in last night to my new vid mash-up of Merkel at EU:
used it for bookends... duke
http://www.youtube.com/watch?v=MSB21EZQNkA
Steed Wheeled Into Brussels at Nighthttp://www.borowitzreport.com/2010/05/03/greece-offers-to-repay-loans-wi...
For an EAST GERMAN, Merkel looks rather well in that one...
http://www.marketwatch.com/story/standard-poors-gives-efsf-an-aaa-rating-2011-10-28
Bye bye eurocrisis.
The only job most greek men have is packing fudge.
Who's going to bail China out? North Korea?
"Wir bilden eine vierte Reich!"
(We will form a fourth Reich!)
Bruni or Merkel? Tough choice.
Merkel is hot.
Merkel Merkel Merkel
I think she might be a screamer.
Hey...where ya been lasFagAssDave.
DAX monthly chart at blog shows recent bullish candle revealing aggressive short covering rally enclosed within big picture bearish pattern.
Bullish USD weekly/monthly and bearish SP500/DOW monthly charts will eventually ensure reversal of equity uptrend.
http://stockmarket618.wordpress.com
(Sorry if this is a duplicate message)
For those naive enough to think that Germany or any country just likes to be nice and hand over billions, here is why there was a haircut:
http://www.telegraph.co.uk/finance/financialcrisis/8854125/French-and-Ge...
Everyone knows Greece is going to default at some point, but a haircut, Germany and France hope, will not trigger the CDS and will save their financial institutions billions.
Finally, I have no idea what people are so upset about with this poster of Merkel. Don't you think it is far worse what many people here are doing in their comments by stereotyping Greek people, rather than politicians? I've heard they do that in Germany too. At least this poster makes fun of a politician. Anyone who would make fun of the Greek Prime Minister would be warmly embraced by Greeks. I just find it baffling because I read some sort of x-rated comments about Greek supposed habits, and then it turns out the same people have thin skin about the Virgin Merkel. Weird.
Sheep will baa-a-a-aah at anything put in front of them. Then, as soon as one jumps, they all jump in unison!
I did not see this on the television news so I know it is not really happening.
duplicate
The 50% haircut is for about 160bn euros from which 100bn of them belong to the Greek banks and pension funds that lended them to the Greek government. It's not a 50% to the total debt, that's why the debt will increase , after this haircut, since the Greek banks and pension institutes will go bankrupt and they will have to nationalize the banks and give funds for the pension, so the Greek government will have to get another loan. So, it's like making the external debt bigger...