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Germany Throws Ball Back In Greece's Court As Schauble Says Deal Insufficient
As we predicted, Germany is a no go. The AP reports:
- German FinMin: Greek deal on spending cuts appears to not yet fulfill bailout conditions
And now ball is back in the Greek court where politicians are starting to drop like flies on the "merely insufficient" deal.
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The money is circular, it goes in by one door from EU/Troika and goes out by other as Interest to debt. A meager amount stays to pay local government. But the plan is next year taxes to cover local expendture and Euromoney the banksta rip off. Circular.
Collapse is thus impossible as Greece is now debt slave to Eurozone and will buy what little it can from them and slave to serve them in tourism trade for near nothing, having sold off its RE assets dirt cheap; to add final insult to fatal injury.
They just need the US to join the EU
Normal, this is now knitty gritty time as the devil is in the detail. Hammer away clause by clause. Chase the devil whom you hate, install the devil who is good bait. Get him to mate with the Oligarchs. Then you are home and dry. And they can go home and make their people truly cry, then sizzle and fry. A bucket won't be enuff to collect the tears as honey for hungry Troika bears, the Mediterranean will medit their blood and sweat.
Greece is exactly where the manipulators want it:
In a never-ending, never-changing, constant, continuous, eternal state of being solved. And tomorrow it completely implodes but tomorrow never gets here.
France should pay for this. They are screwed if Greece goes under. Germany is not.
so no deal but euro still strong what a fucking joke
seems like buy the rumors...hoping to HEAVY sell the news.
Hope.
...and yet the eur rallies vs the usd
You must try to understand that whatever happens it's good for the Euro. The only safe bet is the Euro, strange but true.
I'm seeing that! OANDA's stats say their customers are 44% long the EUR vs USD and 56% short EUR/USD
Ping - Pong - Ping - Pong - Ping - Pong - - - - - - -
Can Merkel operate independently? Could she alone pull the plug on the Eurozone? And if she could do this on her own, what would the consequences be for her?
Would it be mere temporary infamy for pulling the plug on a failed experiment? That would seem to be a small price to pay while gathering accolades from conservatives around the world, including those within her own nation.
We need to make the US more like Europe.........
No we need to make the U.S. more like pre Civil War U.S., absent the slavery.
The question is wether the German Gouvernment is sending the Greeks to concentration camps or otherwise.
Most (and by far not only) Germans have the feeling they are working (not only) for Greek bank-obligations and living-standard.
Should we incorporate Greece and some other countries into the United States to persuade critics?
The question is wether the German people are sending the Greeks to concentration camps or otherwise.
Most (and by far not only) Germans have the feeling they are working (not only) for Greek bank-obligations and living-standard.
Should we incorporate Greece and some other countries into the United States to persuade critics?
If you take California and Illinois, we will take Greece off of your hands. he he he
The true is: Both Goldman-Sachs-Governments (in Berlin and Athen) send those people into slavery who at least resist.
As Voltaire ones explained: "Celui qui se donne un maître était né pour en avoir"
From that point of view it's not difficult to predict that the common German people will work a little bit harder for the Mediterranean debts than the Mediterranean people themself.
This table http://www.leimonis.com/2011/07/main-holders-of-greek-government-bonds-a...
Shows that at a 70% writedown, most of the Greek banking system would be wiped out. But, I'm sure that is not the sticking point. The sticking point are those wily boys up in SWF who hold 25 bn of Greek debt, along with Asian investors and some French banks (BNP, Societe General) and our good old friend Dexia.
Who is going to pay the coupon payments and who is going to take the writedowns when a transaction occurs? Because, heaven forbid, we can't reduce the price of assets on any banks books! That would impair bonuses.
The problem with lies is that the usually keep getting bigger, and bigger, and bigger, until people just stop believing them.
How many reductions in the minimum wages, pensions, and salaries can the Greeks take, as each one was promised that it was the "last time" ?
.. and returning to GROWTH in 2013!!! you can't make this shit up.
MUST READ !! 20 Popular Fallacies Concerning Debt Crisis GREECE
http://www.scribd.com/doc/81080885/20-Popular-Fallacies-Concerning-Th-De...
MUST READ !!
PP
Compiled by the Rosa Luxemburg Stiftung. Some good stats. However, comparing Germany's and Greece's economies and measuring where longer hours are worked, or longer holidays are taken makes no sense. If Greece had only a fraction of Germany's manufacturing output and exports, we wouldn't have any issues.
http://en.wikipedia.org/wiki/Rosa_Luxemburg
Things are getting interesting. Germany's Left is fighting class warfare outside the country. What's their goal today? Same as it was yesterday.
For those who don't know, there was a major political battle in Germany in the early 20th century between far left and far right parties. We've seen it all. Been around the block and back. Both extreme groups are trying again.
double post
Getting past historical trauma, in this case Germany is the grownup, trying to solve the issue without money printing and inflation. They are serious about cutting the big inflated social aparatus.
Germany also has itself a big socialist welfare system and they might consider some serious cuts themselves. Their debt is not as rosy as some would think.
Socialism works untill you run out of other people`s money. This is the harsh reality.
Greecs is really a side show..... what really matters is that Europe uses this opportunity to reform and addrress larger structural issues. I think they are trying to do this under the guise of helping Greece. Just an indication that something positive is being done would be more than enough for EUR to start running.
Smart money is long and everyone else is short....
Angie, Angie, where will it lead us from here ?
Angie, Angie, when all those bail-outs disappear ?
With no loving in our souls and no bail-out in our coats
You can't say were satisfied
But Angie, Angie, you can't say we never tried
oh Angie, Angie, you can't say we never tried
oh Angie, Angie please, I am down on my knees...
please let us bugger you just once more ?
(lyrics by Dave)
wr;)