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Greek Schizophrenia Update
The latest from the mathematically challenged country:
- GREEK OPINION POLL SHOWS 85% IN FAVOR OF EURO
- GREEK OPINION POLL SHOWS 12% OPPOSE EURO
Yet at the same time...
- GREEK OPINION POLL SHOWS SYRIZA WITH 30%
That's right - 30%, or a polling record high, support anti-bailout Syriza. Finally, something like 120% want to shove Merkel's memorandum in her face, or any other orifice, although that number is based on our own, highly unscientific estimates. Basically, the Greeks don't care what currency their debt is denominated in, as long as it is not paid...
The only number we are missing is what is the real amount of deposits left in Greek banks as of this posting.
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In Diebold, we trust.
polls you can believe in? haven't believed a poll since bob dole ran for president....bless his heart. the republicans sent me a poll about issues and the way the questions were asked.......yea you got it...they were going to get "their" answer. no way did they want "my" answers. they got it anyway...in black magic marker, and they even paid the postage.
The Greeks want to get adopted. Where is the courage of the classic period.
If they want to see how a realistic and responsible country handles deficits and debt they should study how Latvia handled theirs in the last crisis.
Lets be clear. Just because Greeks favor the Euro, doesn't mean they favor it for Greece. Maybe they favor the Euro for anyone who wants to buy their olives and marble.
I don't think so. They want all the benefits of the euro without the responisibilties that come with it.
Keep in mind that they lied their way into it with the help of Goldman Sachs and then they borrowed as much as they could spending it on higher salaries and egregious pension plans etc.
Just what would Plato say to that. BOOOOO!
Mmmmm... cake.
I want to eat it, too.
Roses are red,violets are blue,
I'm schizophrenic, and so am I.
3% were in backyard burying their Euros
Squidrophrenic Greeceball Wizards.
Polls? what do we care what the polish think!
I want these Greek citizens to do the "iceland", or the 1990 "Scandinavia", nationalize all the banks, stiffing the international banker elites, forget the drachma, and then introduce the new currency, the ouzo, with some new national motto, oh, say for example, Honor Among Thebes". EURO crisis: D.O.-Done.
Yeh, just like America wants all the benefits of a free market, but perssts in controlling interest rates, spending itself silly, borrowing even from its enemies, printing the rest, subsidising its bankers with zero interest money, protecting characters like Corzine, frisking little kids at airports but not bankers, turning the USA into a concentration camp and the rest of the world into military bases and battlefields, sending the children of its citizens to war but not the children or grandchildren of its congressmen, spying on its citizens but unable to conduct an audit on the gold it holds, ..... Do I need to say more?
Greece is just the pimple on a cancer which has enveloped a world that is functioning on greed, fear and stupidity.
Greeks will pay the price of their own contribution to the problem with a humanitarian crisis. How long before we all realise that a similar crisis is closing in on all of us?
Nah, that ain't exactly fair. The Greek people received very little benefit from the growth in their banks, the bankers and the Government did but the people didn't really get shit. I realize that their policies are seemingly crazy but they are generally popular in Europe, for example France just cut the retirement age back a few years (60 I think). The services are being cut dramatically and have been for several years now, but hey the bankers are still being paid, for sure, no haircut for the IMF or the other institutions that care so much about Greece.
Look, I know the people aren't perfect and just like any other human being they went where they were led, seemed like a good deal - early pensions, high salaries, increasing home prices, etc. You can't blame the people for wanting these things, but you can blame the bankers/government for giving it to them. They are making the Greek people pay for the excesses of the banks and the Government, not the people.
Really, to blame the people for this is crazy. We now get to watch the bankers pillage the remnents of Greece and whatever value is left there - they've (Germans, French and Goldman) already taken most of their Gold, thei public works, docks, power generation facilities, etc. All of this doesn't even mention their sovereignty which was really taken when they joined the Euro.
I feel terrible for those people and the Spanish, Italians, Irish, Portuguese because they are all getting screwed to the wall bu the IMF/ECB and various other nefarious organizations. These countries are committing to being debt slaves forever basically - do they not realize this? We (Americans) need to show solidarity with the so called PIIGS and help them find their way out of this. I absolutely believe that southern Europe is acting as a proxy for what is in our future - by the end of the year!
The whole world is getting screwed by bankers and their incompetent and corrupt Governments, we are all in the same boat heading for a huge falls, without the perverbial paddle. Instead of shit we are floating in a river of green slime generated by all the money being printed.
Anyway, stand up for the people! We are all in this together and they love nothing more then us pointing the finger at each other instead of where it should be pointed - the fucking banker/wall street/government scum! Solidarity for freedom from the banks and the corrupt monetary systems...
10,000,000 Greeks lied their way into the Euro.
As if they were asked.
As if their leaders didn't lie to them, too.
Ratso asks "where is the courage of the classical period?"
Well let me tell you what they did in the classical period. Athenian working people and farmers had become so indebted that whole families became the slaves of their creditors (just like ordinary folk today)
Secondly, pawn brokers sprang up all over the place(just like today)
Thirdly, farmers were allowed to keep only one sixth of their production (the same problem today with income distribution when in 2010 93% of the income increases in the economy went to the top 1%)
Fourthly, freemen had to compete against slave labour(just like workers in the USA compete against cHinese workers)
So what did they do to solve the problem which looked like breaking out into a rebellion? Did they hire a banker or politician? No, they hired the philosopher Solon, and what did he do?
He wrote off many debts, he reduced others, he banned slavery for debt and he allowed interest rates to be set by the market. Oh, one more thing. He devalued the drachma to make it easier for people to pay off their debts.
That is what they did in Athens and it seems to me that that is what Greece and the rest of the world should do today.
Please leave the Polish out of this.
Yeah, they got their own issues... like seeing this slow mo train wreck and actually WANTING to get on board. (rolls eye)
Let's see if we get the 2:30 bounceback
By now the Fed has investors so well trained all they have to do is say Boo!! after 2:30 and all shorts sell off.
hey, harry!
better make that: Boo, BiCheZ!
So they asked 20 people that are Greek...that might not live in Greece.
17 ECB members said Yes including Soros
2 Random greeks said No.
1 Guy was waving his hands and it wasn't clear if he was for or against because no body spoke Greek working for the poll.
Great point, just made me think of something. How are those Euro bets working out for you George?
http://www.guardian.co.uk/business/2003/may/21/1
UNCLE
How many deposits are left in Greek banks, that is a big secret. But I can tell you one thing, I don't believe for a minute that most of the deposits are still in the bank. People who have money or savings and looking around them and at inflation won't leave their money in a system that any day now (hell possibly this weekend) converts their Euros to Drachmas. And this fairytale of it being half th Euro is wrong. Because the other countries won't accept that the Drachma has even that value.
They will be lucky to get 100 Drachma to a Euro.
Greeks: "Yes, we support the Euro; that is why we are taking them out of the bank and stuffing our mattreses with them."
Europosteurpedic?
SYRIZA: 30%
New Republic: 26%
PASOK: 15%
Democratic Left: 7%
Independent Greeks: 7%
KKE: 5%
Golden Dawn: 4.5%
New Republic? You probably mean New Democracy.
Google translates New Democracy as New Republic
http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.bankingnews.gr%2F%25CE%25A0%25CE%25B1%25CE%25BB%25CE%25BC%25CF%258C%25CF%2582-%25CF%2584%25CE%25B7%25CF%2582-%25CE%2591%25CE%25B3%25CE%25BF%25CF%2581%25CE%25AC%25CF%2582%2Fitem%2F46472-%25CF%2580%25CF%2581%25CF%2589%25CF%2584%25CE%25B9%25CE%25AC-%25CE%25BC%25CE%25B5-%25CF%2580%25CE%25BF%25CF%2583%25CE%25BF%25CF%2583%25CF%2584%25CF%258C-30-%25CE%25B4%25CE%25AF%25CE%25BD%25CE%25B5%25CE%25B9-%25CF%2583%25CF%2584%25CE%25BF-%25CF%2583%25CF%2585%25CF%2581%25CE%25B9%25CE%25B6%25CE%25B1-%25CE%25B4%25CE%25B7%25CE%25BC%25CE%25BF%25CF%2583%25CE%25BA%25CF%258C%25CF%2580%25CE%25B7%25CF%2583%25CE%25B7-%25CF%2584%25CE%25B7%25CF%2582-public-issue-%25CE%25B4%25CE%25B5%25CF%258D%25CF%2584%25CE%25B5%25CF%2581%25CE%25B7-%25CE%25BC%25CE%25B5-%25CF%2580%25CE%25BF%25CF%2583%25CE%25BF%25CF%2583%25CF%2584%25CF%258C-26-%25CE%25B7-%25CE%25BD%25CE%25B4-%25CF%2583%25CF%2584%25CE%25BF%25CE%25BD-%25CF%2580%25CF%258C%25CE%25BD%25CF%2584%25CE%25BF-%25CE%25BF%25CE%25B9-%25CE%25B4%25CE%25B9%25CE%25B1%25CF%2586%25CE%25BF%25CF%2581%25CE%25AD%25CF%2582-%25CE%25BD%25CE%25B4-%25CF%2583%25CF%2585%25CF%2581%25CE%25B9%25CE%25B6%25CE%25B1-%25CF%2583%25CF%2584%25CE%25B7-%25CE%25B4%25CE%25B7%25CE%25BC%25CE%25BF%25CF%2583%25CE%25BA%25CF%258C%25CF%2580%25CE%25B7%25CF%2583%25CE%25B7-%25CF%2584%25CE%25B7%25CF%2582-data-rc
Hey dude. Is that a link or a virus ?
You better ring up the party because they call themselves New Democracy in English.
Democracy, Republic, same thing.
/sarc
pods
Sorry
Democratic- Republican. same thing.
The Kevin Youkilis Designated Walk Party - Ball 4
Bob Costas Microphone Phony Party - 2 1/2
...and lest we not forget......
The Zorba The Greek Party of 4 - your table is ready!
This is a huge result at first glance.
At second glance, not so much.
Syriza at 30% will not be able to form a government.
ND and Pasok, with 41% combined, will be able to, because it is my understanding taht Syriza is NOT to get the extra 50 seats, even if they come in first, because they are a consortium of smaller parties. Maneuvers were made to deny them the 50.
If that's done, a ND/PASOK coalition would have a majority. Oddly, the key number here is PASOK. They are lifting that coalition total high enough to force the bailout to continue.
All that being said, this is still a huge result. Syriza is building power.
Syriza has transformed into one single party, eligible for the 50 seats bonus. Today the founding declaration of the "new party", with exactly the same name and the same symbols as the old coalition of parties, was submitted to Greece's highest court for approval.
So TPTB tell the court to delay the approval and they don't receive eligibility in time. This way ND and Pasok form a government and they keep the Euro.
There, all fixed.
More like 120% find Merkel hot
Hotter than greek women anyway
You've never been to Greece.
Our old friend Leo provided this link many months ago, he provided it as evidence of Greek rioting.
http://www.youtube.com/watch?v=AilfsE_k4mg
for many years
one of my favorite vaca spots
On Paros I recommend a restaurant in Naoussa called Silence of the Fish. Great food, even better views
and I'm sorry I called your Mom ugly
you have any pics for us?
Greece is like Bulgaria – lots of women with beards.
Bill Gross just totally pussed out on CNBC. He has no credibility.
CNBC lost all credibility when they were caught "editing" the 911 Zimmerman tapes to make him sound like a racist.
CNBC lost credibility the moment they went on the air.
Who can forget Dan "The Dorf" Dorfman?
Data feed....and even that is suspect. Only thing the network is good for.
Hell, even the babes have left. Brennan, Missy Francis with her sparkly "I just fucked the floor director" eyes. Trish Regan's legs. The new crop pales in comparison.
Only Mandy Drury and her fun down under jugs remain.
I'd like to see the over/under on how many people viewing CNBC
A) Listen to Cramer's stock tips
B) Jerkoff to Mandy Drury's funbags
It's a strain to look her in the eyes.
Dot com bubble was it for me. Abbey Joesph Cohen? Joe Battipaglia? LOL...
CNBC is pure propaganda. It other words, totally fucking useless.
You don't like Bartaroma and Pisani?.............
but, but
In other words:
85% don't want a worthless Drachma - but they don't want austerity either
Gee, people who want to have their cake and eat it too - that is just hard to believe!
My thoughts also. Why not keep trying to drain the teet for all its worth.
assuming that is a fair, non biased, not rigged poll, just like all the Ron Paul rigging is for conspiracy theorists. Oh my goodness.
That what I was thinking. most of these polls are rigged to shape public opinion during elections.
Hey buddy, if there is anyone who wants their cake and eat it as well, it must be the USA or haven't you noticed their massive continuing deficits and money printing?
Greeks wants no pain all gain.
Greeks should sue Goldman Sachs for enabling them to cheat to enter the European Union with fraudulent accounting. When all is lost is due to chicanery, sue your partners in crime.
Goldman Sachs doing God's work and getting the world ready for the apocalypse.
you're confusing the Greek government with the Greek people.
Can you say 'oligarchs'?
By the way. If Greece cheated the Euro people, that means that the EUro people
are total fucking idiots (worth discussing) who didn't know that Greece had financial
problems since forever. So, the Euro people knew, but ignored it. WHy?
That's the 300 billion euro question.
Just saying
Fiddy Pence wrote: So, the Euro people knew, but ignored it. WHy?
I think I can answer that question:
Since the Renaissance, Europe has been enraptured by the ancient Greeks' creation of what has become Western Civilization, and rightfully so, since the ancients' achievements are immense. Beginning with the 19th century's explosion of ancient Greek scholarship, particularly in Germany, Greece has been practically adopted by the West out of simple gratitude for her glorious past. Unfortunately, since the modern Greeks are similar to the ancients in neither cultural audacity nor philosophic curiosity, such gratitude is unsupported sentiment. So one must ask why are the modern Greeks so unlike the ancients? I suppose you could ask the same of the Germans, whose ancestors from that era were members of barbarian tribes, but we lack space here for a complete history of civilization.
The Greeks began to betray their classical values as early as the imperialist adventures of Alexander the Great, lost their political initiative to the Romans and their cultural audacity to Christianization. They probably would have recaptured their ancient birthright with the European Renaissance but this was cut short by the Ottoman conquest of Greece and after living under that regime for over three centuries, ancient Greece was dead. You can read about that period in the Wikipedia "Ottoman Greece" article, of which the following is an excerpt:
The Euro people thought they were getting the heroes of Marathon and Salamis, the trading mariners of the Piraeus, and the wisdom of the Academy and Lyceum. Instead, of course, they got the prokritoi.
Nostalgic sentiment. That's the "300 billion euro" answer.
The idea that democracies can be nonsensical doesn't bother me. The idea that political elites can be nonsensical stares at me from every headline.
Its beyond the point of return now. The anti-government/bailout/europe/germany anarchists have nothing to lose. Annexation.
Oh! So they want to have their baklava and eat it too!
...depends on what the meaning of the word "is" is.
The Existential Willie.
Are they counting the pregnant chads or hanging chads?
Time to get educated Greeks.... you can't have the EUR currency without offering years of pain/anguish/depression. Take the pain now and pull out. Yes, it'll suck but long term, you'll have the envy of the Spanish and Italians in the years to come.
Debt can't magically disappear... 1+1 must always equal 2
Given that fiat currency is nothing but debt, it's easy to see that it's not designed to dissapear, but roll over into infinity as ZIRP becomes "priced in."
Like it or not, we're going to be forced to "muddle through it." Well, if we're lucky enough to not to be Corzined first.
edit: I did not junk you
Iceland showed the world what's possible. Nothing is going to get cleaned up until people start making those hard decisions. Let the IMF keep them on life support post announcement.... that's what they're there for anyway. When I said debt can't magically disappear, I should have added: in some new, massive pan-european funding scheme. (Not that one would have any luck getting funded anyway, but that's another story)
Talking financial heads keep convincing the world that "default" is a dirty word that will bring about the end of the world. The planet has survived world wars and depressions before.... and they made us stronger. Muddle Thru will suck more time away... time that would be better spent rebuilding off a clean base.
They should do a poll
"Greek Opinion Poll says 100% in favor of Germany picking up all bills in perpetuity"
Of course they want the Euro, they want the ponzi good times from 2001-2008, but they need someone else to fund it. Not that I blame them, if I could get some Germans to fund my lifestyle I'd take them up on the offer.
So obvious. They want euro because the eurofanatics in Brussels and national parliaments keep pouring good money after bad no matter what the Greek politicians do. They haven't met ANY of the conditions/targets attached by the dictator aka Troika. What was the amount Mr Borrow-or-so mentioned? Was it something like 170% of greek GDP that the eurofanatics have poured into greece? I feel bad for the greeks, i really do BUT i just don't understand why would they want so bad to belong to such a dysfunctional and undemocratic economic prison the euro is...
I think they are reaching the end of holding WWII over Germany's head.
How odd, everyone want the benefits of their decisions and none of the consequences.
I would like to eat a whole pizza about 4x a day. Unfortunately i don't want the epic ass that is the consequence of that decision.
But hey if someone can figure out how i can repo a sizable portion of my ass, please let me know. In that case will gladly eat pizza 4x a day.
#pomolist
Rehypothecation baby ... someone will put your ass to work.
There's nothing wrong with a big ol' butt! I say go for it. If the repo thing doesn't work out, you can always date black guys.
Simple. Eat 4 pizzas while running 10 miles while sticking your fingers down your throat. Badda Bing.
Tyler - I'm jumping the thread to give you all a "heads up" that little Timmay Geithner will be the speaker addressing the graduating class of John's Hopkins University SAIS school in 1/2 hour from now. Here is the link to watch the video live:
http://www.sais-jhu.edu/graduation
I'm trying to figure out what would be the best word for shots....should it be "jobs" or "recovery" or.....???
Maybe you could post a main link on the main page?
Seriously, this is so wrong. We need to put this euro dog out of its misery so that the world, including Greece, can get on with the the clean up. This has become a war of attrition with the global economy (ie. millions of real people) losing slowly to a failed monetary union experiment.
"Thank you for your money, Germany!"
We would like to keep spending money, we just need people to keep giving/lending us money.
Beware of Greeks accepting gifts....
They like the currency fine but have no intention of paying their debts.
I really wish that this would just all come to a head so that we can all 'get on' with whatever there is left to 'get on' with. I'm so freakin tired of the discussing and guessing and pondering and waiting ....
Nice - just in time for 2:30 rally ramp to the close.
Its 2:30 again and another rally starts. Whats the rumor this time?
rally? what rally? ... not yet at least
No PPT today, they blew thier wad in the morning. Gotta see which algo wins today, buy the greek euro positive headline or sell the greek election negative headline.
S&P climbing higher, DJ positive and VIX keeps going up.
Things that make you go hmmmm
Lets not start using unscientific estimates here at ZH. You have cred to uphold. sarc
I'm calling it: Greece does not exit. Massive can leaking ouzo and souvlaki sauce will last seen bouncing further down road. I think bankers will try any scheme and concede any point to Syriza - anything to kick it down the line one more time, ntil it is utterly impossible and meltsdown before anyone can take any action.
I can detect the stench of Eurobanker (and US) desperation from here, and Greece's politicians are holding the stronger hand. Owe a little money, it's your problem, owe a lot of money, it's the bank's problem.
I am starting to slowly move to the otherside and think this will be the end of Greece and the eurozone. They can continue to print but the facts are the facts. Their current problem is this: If they print and give Greece more money now and things don't improve, they will not be able to "say" that printing will solve the problems in Spain, Italy, Portugal, etc. If they stop printing now, don't help Greece further, as the shit hits the fan in Spain and elsewhere they will be able to make the argument that they just didn't spend enough money in Greece and that printing money is still the solution. At ZH we know it isn't but the banksters don't want everyone to know that.
This is just typical entitlement addict mob mentality. Everyone thinks they are entitled to free shit and an easy life but no one wants to work or pay for it, they don't even try to learn why it is that they are in this mess in the first place and do something about it, nooo of course not.
Fking uneducated financially illiterate ignorant sheep piss me off.
On & on & on & on this goes
Please,somebody just stick a fork in this fucker!
Greece will be sold to the higest bidder. Strategic position in Europe and MENA offers some real enticing possibilities to numerous parties including the US, China, Russia, and even players like India. The ECB and IMF already realize that their Greek debt holdings are worthless so the only debt that really has to be addressed is the balance, mainly held internally. So for the US or China to cough up $100 billion (about one month's cash burn in the US and less than 10% of China's holdings in USTs) to support Greece and its "restructuring" is nothing compared to the political/military value secured by gaining a large amount of "influence" in the region.
This is beyond economics now and is more political/strategic/military. Of course the US government will use its proxy, the Fed, to develop a package (indirectly) to assist Greece as this achieves numerous objectives including gaining further US influence in the region and implementing a policy that is not called QE but achieves the objective of further USD devaluing. The timing is what is interesting given how close Greece is to failing, and the domino effect it would have on Italy and Spain, in relation to the Presidential elections in the US. Too early and BO is going to, in the words of Roy Wally from the first Vacation movie "Someone better start explaining or there will be alot of explaining to do" and too late and this situation could create a full scale depression in Europe and drag the US into it (as well as the world). The balancing act going on with TPTB might be the best show over the next six months.
That strategic importance you suggest is completely overrated.
Turkey is a strong NATO partner and other Med. ports have better rail / road interlinks.
Greece is worthless.
Your confirmation bias is showing, again.
What? No Brady bonds??
Basically, the Greeks don't care what currency their debt is denominated in, as long as it is not paid...
Okay, now THAT is funny.
GENIUS GENIUS GENIUS!!
OK These are competing poll.
Public Issue took one and DATA RC the other (on behalf of pelop.gr)
Obviously a reflection on who's asking the questions.
That's consistent. SYRIZA want's to keep the Euro.
Actually Syriza doesn't care at all. They just want to keep collecting other people's money.
So what, never heard of Wall St?
The Greeks want more debt and less work. Greece has been declining for more than 2000 years, it's high time it stopped falling.
Mexico prefers the USD by 85%
12% prefer drug money
3% have no opinion on the matter and couldn't be reached for comment behind their 8ft solid concrete walls
the polls are a propaganda feedback device used to determine the efficacy of past propwash and recent propwash
they are designed and published to BE propaganda, imo
then people will be better able to understand what the propagandists are telling them after the "election", too...
same as here, really
if you are somewhere where this ISN'T true of the mass mainstream "media" let us know, ok?
this information does not include when the poll was taken; it prob was taken b4 the german newspaper piece was "leaked" and the russian "this is obvious" press release this morning
so the next poll will show how that is "working" in greece
but of course, everyone is waiting for angela to utter her ex cathedra, and the whale banks, who fade everything anyhow, may win big on a "surprise" stick save (# 88) until more "details" are worked out (squidified forevah in new, "improved" fiatsco debt) and the fuking pig gets the new shade of lipstick and the summer hat thing going...
while the citizen-taxpayers are made into sausage...
I hate to quibble, but I think the post was wrong when it said "the Greeks don't care what currency their debt is denominated in, as long as it is not paid..."
It should have said "The Greeks prefer to stiff their creditors in Euros, but would stiff them in another currency if absolutely necessary. Paying them is not an option."
Yeah Greeks are Schizo just like your avatar picture...
I like how you potrait a whole nations as Schizophrenics and you still have readers
Dear zerohedge (Tyler that is),
You surprised me with this post. Us Greeks may be wrong but we are certaintly not inconsistent. You clearly neglected to notice that SYRIZA is also in favour of staying in the euro. Since when does a default within a currency area translate into an expulsion from it (or a preference for leaving)? When a US municipality, or indeed a state, defaults no one even thinkgs of suggesting that it should leave the dollar-zone. You may, of course, retort that the eurozone is very unlike the US. True. But the point I am making is still valid: If the eurozone does not mature to the extent that it can allow for defaults within its territory without going into a paroxysm of centrifugal forces that tear it apart, it will not survive. In this sense, the Greeks conclusion that we should default within the eurozone makes perfect sense. It is not a question of not wanting to pay our public debt. As you know, once in a debt trap, the only rational outcome is a debt write off - with all the costs this entails both for borrowers and lenders. If Greece gets out of the euro to default, the costs will be greater both for the eurozone and for Greece compared to defaulting within. Not defaulting is as much of an option as it is to declare the laws of graviry null and void.
Yanis Varoufakis
some of the links above, at the bottom of the article, here, show some earlier stuff
some of it from yesterday, in which the parties were discussed more thoroughly
hobo's of the world?
http://covert.ias3.com/expose/
Greece (they will let SYRIZA do the dirty job) could just abuse ELA beyond any limits to fund (money printing) their government indirectly or even directly and serve their outstanding debt this way. It would be illegal by ECB statutes and create inflation, but it would be much better than a default, haircuts and another global financial shock. Maybe ECB & EU will nothing do about and secretly tolerate that, because that will be the best outcome for most. Of course, the savers, especially the Germans, get hurt, but they have to suck it up because they don't need to be asked in this case.