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Merkel Just Says "Nein"
Any hopes that Germany may bend and allow Greece a little leeway in its bailout negotiations, buying at least a little goodwill with its people have just been dashed. Not only that, but readers may recall last week's Die Zeit article that a third Greek bailout may be in the workd. Well, forget it. From Reuters:
- GERMANY'S MERKEL SAYS CANNOT ACCEPT ANY LOOSENING OF AGREED REFORM PLEDGES IN GREECE AFTER ELECTION
- MERKEL SAYS DOES NOT SEE ANY REASON TO SPEAK ABOUT A NEW AID PACKAGE FOR GREECE ON TOP OF THE TWO ALREADY AGREED
- GERMANY'S MERKEL EXPECTS QUICK FORMATION OF NEW AND STABLE GOVERNMENT IN GREECE
Good luck with that, and good luck to everyone whose entire investing strategy is based on the assumption that Germany will blink when it comes to Greece.
EURUSD slides to the day's lows in the aftermath of reality once again offsetting speculation of unicorns and magic money growing trees.
To summarize:
Q: "Merkel: What is best in life?"
A: "To crush the Greeks, see them driven before you, and to hear the lamentation of their women"
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NEIN - NEIN - NEIN
Check mate! Bitchez!!
Awww man, I really love unicorns too. :-(
Urkel's basically saying "look Bitchez, you voted the wrong way, now you are forcing our hand!"
Ja, Herr Stumbafurer! Ze Greeks haf to be punished fur their disobedience.
So do the Greeks say “Nuts!” or do they turn into peanut butter?
My money’s on peanut butter.
http://www.youtube.com/watch?v=73OiRZf7DsM
They will be made to vote until they do it properly. That's democracy for you.
The Greeks can do as they please, but if they expect Germany to fork over massive amounts of cash due to continual Hellenic incompetence the Germans quite rightly and rationally expect conditions to be met.
Pouring continual money into the black hole of Athens is not an option.
Yep, your dead on about it. Germany was hoping the vote would go the other way and so Greece can be blamed for the calamity instead of them when they leave the Euro and EU. Now Germany's hand is forced and they aren't giving them one red dime and not more time.
unicorns ... the other white meat ...
Racist basturd
... it's particularly yummy with some fava beans and a nice chianti ...
Krom!
CROM!
Crom is a grim and gloomy and unforgiving god, ever watching from atop his mountain in dark clouds and obscuring mists, ready to pass a disapproving judgment on any and all.
Crom Cruach or Cromm Crúaich (Classical Irish/Gaelic pronunciation /?k???m? ?k??u?ç/), also known as Cenn Cruach /?k??n?: ?k??u?x?/ or Cenncroithi /?k??n?: ?k??o???/, was a deity in pre-Christian Ireland, reputedly propitiated with human sacrifice, whose worship is said to have been ended by St. Patrick.
<snip>
In the old Irish tale from the Book of Lismore, "The Siege of Druim Damhgaire or KNOCKLONG" (Forbhais Droma Dámhgháire), Crom is associated with Moloch.
http://en.wikipedia.org/wiki/Crom_Cruach
OR ehm...
Crom (pronounced /?kr?m/) is a deity created by American author Robert E. Howard. He is mainly mentioned in swearing by his character Conan the Cimmerian, and "worshipped," it is presumed, by the bulk of the Cimmerian people. His name is probably derived from the ancient Celtic deity Crom Cruach, with the Cimmerians functioning as proto-Celts in Howard's pre-historic Hyboria.
http://en.wikipedia.org/wiki/Crom_(fictional_deity)
sacifrice the first born
Mmm, unicorn chops in skittle sauce...Good Eats! :>D
Checkmate is right. They just got screwed. I think this could kill coalition talks. Should have released this after they formed a government.
You like your game of chicken fried or baked?
Stop plagiarizing Herman Cain.
Somehow I think it might start to get real ugly before and during the Greece -vs- Germany European Cup game this week.
w.w.colored-cardDrinkingGame.ouzostein.BiCheZ
"fick mich" would be more appropriate
Shocker.
So, Ms Fox, How are things going in the Hen house?
Almost finished.
still got to get the Leghorn... (Livorno)
Just that means the door is open for Ireland and Portugal to re-negotiate, right? Right?
Really? That's not what I hear. Supposedly if you "bring up her days back on the communal farm with Hans" she get's all sorts of chatty.
GERMANY'S MERKEL EXPECTS QUICK FORMATION OF NEW AND STABLE GOVERNMENT IN GREECE
All I can say is...ROTFL
That is, until the TPTB instruct her otherwise. Puppets, just Puppets.......
when the iron bitch's own economy and banks start reeling, lets see her reaction then.
No doubt that she will feel the pain but allowing someone who hasn't paid their bill in 5 years to keep borrowing isn't going to make that pain go away. The game is up. Time to face the real facts with real solutions. Time to turn on the lights assess the damage and start re-building.
What would her reaction be? Agree on more bailouts without any reform concessions? She's highly popular in Germany because she's balking. Way more popular than Obama or any other prominent western leader. If you have a look at the massive trade deficits expanding to new records especially in the UK, thanks to debt fuelled private and public consumption, the Germans have nothing to worry about. Their products are easily finding markets - now that the € is depressed even more so. The only ones that have time on their side are the Germans. I'll concede that they have lost quite a sizable export market chunk in €-Europe but have surprisingly more that made that up in non-European markets. Of all the large western economies, they are by far the healthiest. They will win this game of chicken if need be.
They might win, but only if Greeks, Spaniards, Irish etc. do not lift their heads from the sand and follow the Iceland's example. The Germans are betting that the lesser nations will not have the balls.
Schatzi, this game cannot be won anymore. Kicking the can down the road, accumulating even more Target 2 or ESM volumes will not do it forever. At some point the whole thing will blow up and bankrupt Germany. It is too late.
Merkel highly popular = high degree of uninformed/ naïve/ dumb people in Germany.
Merkel may be balking. More important is that she is paying and ruining her country.
I can't disagree. I'm here in Austria - quasi an economic satellite of Germany, net € and EU contributors, working into the late sixties, paying 50% income tax and watching Hollande make campaign promises his country cannot afford, but expects others i.e. Germany and other northern Europeans to pick up the tab. It makes me sick. Target2 exemplifies how broken the system is. A trillion € if I'm not mistaken. Absolutely crazy numbers. I still believe we can extricate ourselves from this mess. Start anew, maybe a small northern € based on Germany's economy with some small currency satellites like Luxembourg, Baltics, Netherlands and Austria or revert back to our original currencies. Tying in the periphery into the northern core was a massive mistake. Even France is not ready for a currency union. They're completely deluded and have just crossed the 100% debt/GDP threshold. I'd rather this mess end now in massive pain, then dragging this fiasco on till the point we are bled dry. At least Merkel is putting up some resistance, but it won't help anyway. European and US governments will keep insisting you need to make debt to grow out of debt. The grave is just getting dug deeper.
As you and Otto are on the ground over there, do either of you think it likely that your countries will finally get tired of this and go your own way, or will your governments cave after being hammered with intergenerational inherited guilt (bad, bad Teutons- you are all big meanies!)?
While some in the US may yell for never ending bailouts with funny money, I think the northern Europeans would also get significant support for saying no and it will probably break down along party lines over here. Whatever nonsense is in the average American head about Germans and Austrians from watching too much Hollywood propaganda, nobody questions their work ethic.
It's all very difficult to predict. Generally party lines are very pro €, as it's seen as the pro Europe line which coincides with the post-war new European approach of growing closer all for the benefit of mutual peace and reconciliation. The last war may be 80 years back, but politicians still tread lightly. It carries stigma to renounce the pro European idea. This isn't a United Sates of Europe and there is little solidarity with Greece nor the willingness to financially carry other countries for the greater good. When the own € is being taken from your pocket then that usually means the end of any feelings of solidarity. I think there is a tendency shift towards a more egotistical standpoint within the populace. If the politicians read that correctly and latch on to this new undercurrent, we may see a much more hard-line approach in politics.
The USA will not annex Mexico for pretty much the same reason(s) that Greece should not have been permitted to enter the Euro.
Merkel running naked at you wearing a strap on,,, yikes!!!!
Frankly, until someone gets a verifiable shot "under the hood," I'm not sure a strap on wouldn't be redundant.
She carries a bowling ball in her knickers...when the going gets tough, the tough batter you with a bowling ball.
Merkel says nein....until tomorrow
wake me when they figure out that electing a new government does exactly nothing to change the cash flow problem
Ok, so how about those relaxed terms for ireland? Also i guess the rumor rolodex is now back to pusing eurobonds again.
No Relief:
PIGS rate exploding again,
Spain 10j 7,25%!!
ECB fearindicator up
http://www.cds-info.com
We HAVE liftoff!
Erkel says yes or their will be a new leader in Germany. The cartels wont have any crazy talk
dow down 3 points on the news.
by 3 did you mean about 40?
sorry my bad i meant up ten since they posted the quotes
That's 'cause everyone is expecting the Bernak to harvest the money tree on WED. US markets are going to be just plain silly until we hear from the FED. Of course, after the FED anouncement things are going to be really, REALLY silly.
You know the dow was up 20 points before this was leaked right. not that it matters its all a rigged game anyway.
good point
We've seen this movie so many times it's becoming to wear down on us. It feels like I'm watching 158th episode of a Spanish soap-opera.
Why should the Germans backstop loans to Greece? Just because the banks say they won't lend the money unless a government (read taxpayers) guarantee it? That's between the banks and the Greeks, the banks lies to the contrary notwithstanding.
"I Call." - Angie
Bullish, no, seriously.
Well, we all know political figures are just figureheads and really control very little. My expertise is not on Europe, but if anyone can enlighten me--who is pulling Merkel's strings? The CFR is too American I would imagine... Has anyone figured this out yet?
We can only speculate. There's so much misinformation out there it's not even funny any more.
My WAG :
# oil rights
# mining rights
# strategic rights .. NATO+EU etc.
Most other assets are not interesting to the Elites.
+ AFAIK... Russia currently offering 3.5 Bio EUR to bailout Cyprus - no strings except Navy Deep Water Ports
PS: Straight out of John Perkins "Economic Hitman" book of course ... drown them in Debt first, then foreclose !
Her parliament is pulling her strings...as it should do.
Distraction, Der Bundestag has as much influence on Merkel as Congress has on the Choom-boy.
Look into a person's past and you'll see their present motives. When it comes to IM Erika (Angie's codename in Stasi) one must have in mind that she comes from a respected family in East Germany, which by itself is contradiction because her father was a priest (Commies don't like religion).
I'd say you should look no further than the Zionist landlords of The Square Mile.
"who is pulling Merkel's strings?
Putin.
Absolutely not . Deutsche Bank. follow the money, in this case CDS s on Greek government debt.
SNB must be shitting themselves, im sure they would have preferred a Grexit, even just to get things moving, now they will have to buy Euro until the bitter end. Back on the rack they go.
The msm thought on this is that Germany was successful because the fleeced all of southern Europe and thus should give back all of their winnings to keep the game going.
The thought in Germany is why would we give up our winnings if the whole thing is going to hell regardless.
As it has been stated so many times before, eventually you run out of other peoples' money and the Germans seemed to not want to play ponzi putzs.
Two years of protests, riots and national strikes, pensioners setting themsleves ablaze and the results of the Greek elections show they are no match for the global bank cartel. Why do I find myself looking to Mother Nature to unleash climate catastrophes, or a pestilence that infects the banking class? When will the Merry Go Round of Insanity End?
UGGH
What is it about you or your post that justifies shouting boldly?
HA, let your words and ideas do the talking, not the fonts.
Diebold. Makes vote rigging a LOT easier these days. You no longer have to bribe the vote counters to look the other way. Voting is a waste of fucking time as long as those machines are enabled.
Merkel just gave Syriza the ticket to build a minority government and prepare GREXIT.
The EU cannot announce any details on Spain until Greece is out of the EU.
Spain will get other conditions than Greece because Spain is already home to hundreds of thousands Germans, British, Dutch and so on.
VW is building cars in Spain. There is something tangible in Spain and it's a bridge to the important North African market.
Spain will get what Spain needs because Spain can afford it. Greece is clearly the ugly step child.
Germany is playing Greece in the next EM round. That will be interesting to watch.
Only thing bringing this market down is if Bernak says no to print
No, no, no, the full recipe is;
Print
and
Bomb
oh shit! lmao..
PIIGS just lie. Promise and do nothing. Just keep threatening to blow up the Euro. Central banksters are afraid of the Euro nuke option.
Bailouts forever! Send the bill to Germany, the US (IMF) and Brussels.
Free money PIIGS!!!
Holy crap ... here we go ... she's admiting the experiment's over? ... ok, plan 'B', or plan 'C'?
Greeks: now is the time to gather up your belongings and leave the country. Capital controls will be incrementally rolled out until leaving becomes impossible.
Good for her! If Greece thinks they are going to be able to resume their profligate ways, there is soon a very big brick wall approaching!
here's a classic: (popular when I last rolled it out!)
Angela Merkel channeling an 'old school' German wisehead about what to do in the Euro-Crisis today.
http://www.youtube.com/watch?v=MSB21EZQNkA + the picture of Merkel in a Nazi uniform is worth the time (thanks Mel Brooks for dance number)
I'm not one to quote exprez G.W.B. but this one seems fitting: "This looks like a rerun of a bad movie and i'm not interested in watching it"
What we need urgently is Corexit, Grexit isn't nearly poisonous enough to bring this euromonster down.
Germany, the 22 worst country as far as debt levels, only has a high productivity/worker efficiency ratio working for it. With an economy 50% dependent on exports killing the other EU partners simultaneously while slow downs in all the BRICs are occuring and the US will come back to haunt them and deliever their own form of pain they so defiantly want to inflict on others perched from the currently looking high seat of fiscal superiority.
Karma is a Mother Fcker.
Or alternatively, Germany has a way superior and more productive culture, and an industrial base, via making real investments, that no one else made, and so now can not compete with, at their level.
Any way you slice it they are going to do better.
Conan was such a great movie!
Barbarian or destroyer? I'd take the destroyer.
Dra(c)ma on the horizon!
Merkle to Greece's plea for changes in the deal: Es geht nichts!
Nostalgic Song about the Euro: "Es geht alles vorueber, es geht alles vorbei"
Merkel, and the German electorate may not blink, but the German and European bankers will get the final say, regardless. So far, the Euro banksters seem to prefer extend and pretend, work-around, public balitouts, etc, so that is what I expect to continue.
Why not extend and pretend? The bonuses and paychecks keep coming while the can gets kicked.
Greece will be supported....it is important both to act as a prop to funnel support to big Euro banks, and it is a long term important military base. Also, Europeans love their beaches.
The question is, do they support outside the Euro (like Britain) or within? My guess is they just prop up long enough to prepare for orderly withdrawal such that the Euro banks survive.
Who will pay? The usual....the upper middle class of Europe and USA. This will continue until there is no real middle class left or there is a world war that results in a changing of the guard.
Only the upper middle class will pay? No middle middle, or lower middle will pay?
If history is any guide, the poor will always be hit first, no matter what, and then it'll work it's way up.
Fear not, Seabass will pick up the tab...but there might be some unpleasant consequences.
http://www.youtube.com/watch?v=JUvV0BOiE6E
ok...
this is a work in progress ... be kind... (needs editing... something about car wrecks that is inherently funny)
YouTube - EuroZone's Death Race 2012
...
the filmic equivalent of Greece is seen at the 53 second mark...
Like every other female, a NO means YES or at least a strong maybe.
"Q: "Merkel: What is best in life?"
A: "To crush the Greeks, see them driven before you, and to hear the lamentation of their women"
Do you actually believe such BS? I mean, you sound more and more like one of the many Greeks who lament like they were professional victims and think up ridiculous conspicrazy theories about Germany.
This is good for the markets. When money is worthless you need to have a portfolio of buildings and stuff. On the other hand it's nbad for markets because if money is worthless then the economy almost stops. So it's a stalemate.
Didn't she win a frankfurter eating contest prior to becoming Dictator?