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Nigel Farage On Europe's Economic Suicide

Tyler Durden's picture





 

Dismissing the propaganda-like vision of growth and jobs that is now at the forefront of any and every word from the status-quo seekers that are the European Elite, England's Nigel Farage notes the hypocrisy of the forthcoming summit's agenda. The Euro itself was supposed to create growth and jobs and yet it is actively destroying both of those things - more of the same - as the medicine is killing the patient. He attacks the idea that the world will end if Greece were to exit the Euro - "European leaders say if Greece leaves the sky will fall in - it won't!" - though notes that there will indeed be a difficult few weeks - and when challenged by a Greek politician (who questions what will happen when gas prices for Greeks rise on Farage's suspected 50% devaluation in the Drachma), Nigel, offering the other side of the coin related to real growth, investment, and innovation to compete with expensive imports pointedly remarks: "Give Greece a chance because stuck inside the Euro, you are going to be literally destroyed".


 


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Tue, 05/22/2012 - 12:20 | Link to Comment sbenard
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Lord Monckton yesterday repeatedly referred to Europe's socialist-elitist government as a "dictatorship".

Tue, 05/22/2012 - 12:27 | Link to Comment Zero Govt
Zero Govt's picture

and Lord Monckton is correct

...as he's been on the Govt-crone bollocks of Climate Change

In fact I think he's the only Lord in Blighty that isn't regularly called to Govt 'consultancy' (ie. underwrite the policy Govt wants to hear)

..because he speaks the truth (exceedingly rare amongst Our Lordships)

Tue, 05/22/2012 - 12:29 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

With all the trolls and whores and liars and thieves out there in the world today, it is so refreshing to hear Nigel continue to speak the truth. 

Tue, 05/22/2012 - 12:34 | Link to Comment The Big Ching-aso
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Greece?   Well they're certainly giving Vaseline a chance.

Tue, 05/22/2012 - 12:59 | Link to Comment Wakanda
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That is certainly a slippery slope.

Tue, 05/22/2012 - 14:00 | Link to Comment Hard1
Hard1's picture

Teh guy sitting on the right of Farage is the typical european beaurocrat.  He can barely keep his eyes open and cannot stop burping his big lunch.

Tue, 05/22/2012 - 13:08 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

UKIP = FREEDOM!

Tue, 05/22/2012 - 15:04 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

There is actually a fair amount of negative material on Nigel Farage - 'Farage the Mirage' - some of it from former UKIP party members. - Even though Farage speaks much truth and is hugely entertaining.

It is said that Nigel Farage - who is personally associated in his past work with the Rothschild family - is actually working for bankster interests from the other side, both to sabotage the efforts toward new political parties in Britain, and to profit from EU destruction.

In Britain, Farage is said to be ruthless in running his Ukip party, and to be intentionally running it so badly they make sure Ukip has just about no representatives in Britain's Parliament. - Like recently, when Ukip missed being on the London ballot because 'they filed the forms incorrectly'. Detail of this for example on John Ward's UK-based 'The Slog' website.

Why did Farage mess up crucial election forms in London, but he fills out his EU expense account reports perfectly?

Farage is taking great relish in EU destruction and seems to be pushing it and advancing it. For many this is viewed as a good thing, but ...

Profiting from destruction is a traditional theme of the Rothschild family, going back to 'Buy when there is blood in the streets.' And Farage at least was, if not now, a Rothschild man.

Tue, 05/22/2012 - 16:07 | Link to Comment Anton LaVey
Anton LaVey's picture

I will simply say this: "Even a broken clock shows the correct time twice a day".

This is a saying whose truth I have seen verified time and time again - especially here on ZH where the signal-to-noise ratio may seem discouraging.

Nigel Farage motives may be disputable, but, at least on this matter, he is perfectly correct.

Tue, 05/22/2012 - 14:00 | Link to Comment lasvegaspersona
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Sheepscrewer

I enjoy Mr Farage and his pasionate appeals but I am not sure he is correct. TheEuro might just have a purpose which could be of benefit to not just the EZ but the world. This Summer we shall see the whole thing play out. It will be the greatest show of our lifetimes and we will learn if the Euro can survive or even rise to its purpose.m Until we see the final outcome it is hard to know who are the heros and who are the villians. I know here on my favorite site ZH the bankers always wear black hats (and they probably deserve to) but we won't know if they had a noble purpose in founding the Euro for a bit longer...it IS a possibility...

Tue, 05/22/2012 - 14:59 | Link to Comment Umh
Umh's picture

You can call their purpose noble, but noble goals can still be impractical.

Tue, 05/22/2012 - 18:38 | Link to Comment fnord88
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Kind of like how Greenspan may also actually be a hero, by implementing polices designed to speed up the inevitable crash of fiat paper?

Tue, 05/22/2012 - 17:59 | Link to Comment Freddie
Freddie's picture

Meanwhile Ameika has Hussein.

Tue, 05/22/2012 - 12:43 | Link to Comment ThirdWorldDude
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Tip of the hat to Lord Monckton for disclosing the NWO Agenda! 

http://www.youtube.com/watch?v=oSfvXjWV2Vo

Tue, 05/22/2012 - 13:33 | Link to Comment dougie
dougie's picture

Yup, a complete idiot.  He was predicting the take over of the world by the third world within a few weeks...2.5 years ago.

Tue, 05/22/2012 - 15:07 | Link to Comment Nachdenken
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They did.  You didnot notice.

Tue, 05/22/2012 - 16:46 | Link to Comment MarsInScorpio
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Nachdenken, I found this on Blogger, in support of what I think is your point:

 

Black Racism now rules in America

I wrote this in response to a story about a woman who was seriously beaten in a line at McDonald's for having asked a black woman to not litter in the parking lot.:

What we are witnessing is Black Racism. It is the only form of racism in America that is not only tolerated, it is encouraged.

It begins with Affirmative Action laws. Just as it was immoral to give whites superior protection in law because of their race, so too it is immoral to give blacks superior protection under the law because of their race. Whenever you have an aspect of law that applies strictly on the basis of race, then you have a racist law.

It is obvious that when a black hate group - in this case the New Black Panther Party - can solicit for murder as it did in soliciting for the murder of George Zimmerman, and no law enforcement agency arrests those soliciting murder, you are at the point where Black Racism is enshrined above the law.

If a group of whites had solicited the murder of someone black, they wouldn't have made it across the street before being arrested.

The real tragedy is that this Black Racism now trumps every law enforcement agency in America. Arresting the Panthers was the primary responsibility of the local police, sheriff's department and state attorney's office, but they are too intimidated by the Black Racists to act.

Next it fails to Gov. Scott of Florida to enforce the laws, but he is too worried about his re-election to enforce the law - so Black Racism has him intimidated. Gov. Scott reacts to Black Racism by appointing a dishonest special prosecutor who has already committed perjury to lead the lynch mob

Next it falls to the federal government through the Office of the Attorney General utilizing the FBI. But that department is run by the Black Racist Eric Holder, under the protection of the White Black President Obama.

Then it falls to the journalism community to expose the flagrant cowardice of these so-called law enforcement agencies so that citizens can express themselves at the ballot box, and vote out the sheriff, the state attorney, the Florid Attorney General, the Florida Governor, and the US president.

But the LameStream Media are too intimidated - no, make that too supportive, of Black Racists to do what they should do to flush Black Racism down the sewer pipe of history.

So Black Racism now rules in America.
-30-

Wed, 05/23/2012 - 01:55 | Link to Comment Psyman
Psyman's picture

From the day I was born America has been sending me one message through the media, the schools, and our government - "you are not wanted here white boy."  So I can either stay here in the United States and live as a second class citizen after whites become a minority here, which will happen within my life time, or seek a better life overseas among people of my own race that will not blame me for slavery or segregation.  I have never felt accepted or wanted in America.  From day one I was taught that white men are the devil and responsible for all the world's ills.  Everyone is a victim of the white man's crimes according to the schools, media, and America's anti-white male culture.

 

The choice is clear then.  Whites are not welcome in the United States of America.  This will become even more crystalline as whites are displaced as the majority race in America.  Even now, with a black president and his anti-white appointees it is open season on whites in America.  Imagine how bad it will be in 30 years when we're a minority.

 

Rhodesia and South Africa come to mind.  If not Haitii.

 

And so I am leaving.  Not that it's a very hard choice at this point, because aside from being anti-white male the U.S. is also a brutal police state with individual liberty declining on a month by month basis.  So long America, I'll go where I'm welcome.

Tue, 05/22/2012 - 13:21 | Link to Comment TWSceptic
TWSceptic's picture

"...as he's been on the Govt-crone bollocks of Climate Change"

 

Actually he has made many scientific errors and even lied about many things. Not that the govt doesn't, but just sayin...

Tue, 05/22/2012 - 13:29 | Link to Comment dougie
dougie's picture

Why on earth would anyone care what Lord Monckton says about anything?  He's probably certifiable in his inability to recognize reality.

Tue, 05/22/2012 - 12:23 | Link to Comment Sandmann
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http://www.amazon.co.uk/Politicians-Slump-Labour-Government-1929-31/dp/0...

 

This book reveals just how clueless Government really is when times like this expose them for what they are

Tue, 05/22/2012 - 12:26 | Link to Comment Cognitive Dissonance
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First they laugh at you, then they argue with you, then they fight with you, then they agree with you.

The lonely life of a contrarian thinker.

Tue, 05/22/2012 - 12:35 | Link to Comment GeneMarchbanks
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The lonely life of a contrarian thinker.

That would actually be the case if only he didn't have so much to gain being a City ponce an all.

Mostly, it is proper to laugh.

Tue, 05/22/2012 - 12:37 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I did not say he was pure in thought and deed. I said he was a contrarian thinker.

However I am also not pure in thought in deed. But neither am I (nor Nigel Farage for that matter) full of shit as are so many of the so-called leaders.

So maybe it is a relative thing. :>)

Tue, 05/22/2012 - 13:26 | Link to Comment Harlequin001
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The correct answer to the Greek would be 'Let the market decide the prices. They will be whatever they should be...'

Tue, 05/22/2012 - 12:37 | Link to Comment The Big Ching-aso
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Greece should just print The Gyro.   At least it'll have some real meat beefing it up.

Tue, 05/22/2012 - 13:37 | Link to Comment TJ00
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And drop it from Gyrocopters.

Tue, 05/22/2012 - 17:12 | Link to Comment NewWorldOrange
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Or Gissue.

Tue, 05/22/2012 - 12:37 | Link to Comment willien1derland
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All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident

Arthur Schopenhauer
German philosopher (1788 - 1860)

Tue, 05/22/2012 - 12:38 | Link to Comment Cognitive Dissonance
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Yeah......that thingy. :)

Tue, 05/22/2012 - 13:23 | Link to Comment tim73
tim73's picture

Or you suffer the faith of Arthur Eddington, Einstein's friend. In his later years he went wildy off the tangent in his search for the unifying theory, started using numerology bullshit in his theories. He was mercilessly ridiculed by other physicists but he refused to believe them. In the end the critics were right, his theories were just that...bullshit. 

Tue, 05/22/2012 - 13:55 | Link to Comment Cognitive Dissonance
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Yup! There are always exceptions to the contrarian rule.

Wed, 05/23/2012 - 00:32 | Link to Comment Cosimo de Medici
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One of those sayings everyone can use.  Around these parts Max Fischer and RobotTrader own the copyright;  most everyone else reads from the exact same script and tolerates contrarian thinking like a mullah tolerates the funny pages of a Danish newspaper.

Tue, 05/22/2012 - 12:26 | Link to Comment lolmao500
lolmao500's picture

Farage kicks asses once again... And Farage, you know they won't let Greece go... because as you said, it would give hope to other countries to leave the EU... and that can't happen... the globalists want their European government.

In other news...

http://www.telegraph.co.uk/news/worldnews/g8/9278873/Cameron-tells-Greec...

"In the end... somebody has got to persuade Germany that this is a catastrophe   for Britain, Europe and the world and that Germany has got to change   course," he added.

"The problem is, the German people went into the eurozone 10 years ago on the   clear promise that they weren't going to bail out Italy and the central bank   wasn't going to play this role.

"Both things have got to change."

LOL!

Tue, 05/22/2012 - 13:11 | Link to Comment Joe The Plumber
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But the euro did bring growth and prosperity in the beginning

Unsustainable credit expansions dont look so good on the downside however

Tue, 05/22/2012 - 12:27 | Link to Comment tocointhephrase
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Man crush (blush)

Tue, 05/22/2012 - 12:28 | Link to Comment ebworthen
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Euro trap.

"We'll lend you more Euros so you can grow your economy out of this recession caused by joining the Euro."

*cough*

Tue, 05/22/2012 - 12:50 | Link to Comment SuperVinci
SuperVinci's picture

Euro trap.

"We'll lend you more Euros so you can grow your economy out of this recession caused by the failing $IMF system."

 

Fixed it for you.

Tue, 05/22/2012 - 13:13 | Link to Comment Joe The Plumber
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The dollar and IMF caused the problems in greece?

Please do explain. I am all ears.

Tue, 05/22/2012 - 13:29 | Link to Comment Nothing To See Here
Nothing To See Here's picture

$ still used as reserve currency. The more $ on hand, the more other currencies central banks can print (because they are allegedly backed up by $).

Tue, 05/22/2012 - 15:11 | Link to Comment Nachdenken
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Thats new.  The Euro does not matter after all then.

Tue, 05/22/2012 - 13:36 | Link to Comment Nothing To See Here
Nothing To See Here's picture

Eurokrugman trap

"We'll lend you more Euros so you can keep spending and repay the banks who lended you Euros because you were spending too much"

Tue, 05/22/2012 - 13:27 | Link to Comment GeneMarchbanks
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"Give Greece a chance because stuck inside the Euro, you are going to be literally destroyed".

''Give the City a chance to rape the local currency then allow for easy pickings after the Greeks are suffering from battle shock''

Tue, 05/22/2012 - 12:34 | Link to Comment Kaiser Sousa
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Nigel Farage.... THAT'S MY N_ _ _ A!!!!!!

Tue, 05/22/2012 - 12:32 | Link to Comment Paul Atreides
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Chuck Norris wears Nigal Farage pajamas to bed.

Tue, 05/22/2012 - 12:37 | Link to Comment dizzyfingers
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Paul Atreides:

Laughs are hard to come by these days, but please, a little warning. ... coffee out my nose!

Tue, 05/22/2012 - 12:32 | Link to Comment l1b3rty
l1b3rty's picture

Taking on the masters of the universe! Down with the demise of the state globalists hidin behind transnational kkkorporations.

http://silvervigilante.com

Tue, 05/22/2012 - 12:34 | Link to Comment Mike Cowan
Mike Cowan's picture

Most of us know Nigel is right. Get out of the Euro now, Greece!

Tue, 05/22/2012 - 12:34 | Link to Comment Global Hunter
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That Greek MEP didn't seem to have his heart in that debate as if he knew the score deep down.

Tue, 05/22/2012 - 12:54 | Link to Comment _underscore
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Yes - and I think most of the other MEPs did too.  I'm sure the real problem is one of realised / crystalised  losses - as soon as Greece leaves all those EURO debts become real & immediate balance sheet losses/liabilities for the ECB, various national CBs & institutions/hedge funds. They fear the 'firewall' will be about as good as naptha impregnated polystyrene in that leave/default event & are terrified - that's what all the can kicking has been about.

 

Tue, 05/22/2012 - 13:53 | Link to Comment spine001
spine001's picture

Hey, Underscore, your are a very smart Guy/Gal! What you say is indeed exactly the problem...

And when your present income depends on the bad debts remaining in the books as good, and to add wood to the fire, the money you need to use to keep those bad debts appearing to be good is not yours but the taxpayers (from your and other Countries that chose to believe in the EURO, i.e. China, Japan, USA, etc.). Your incentives are clearly to keep the party going for as long as you possibly can.

Of course, people on the outside looking at the crazyness of the party, can't understand, using rational (impact on the society) thinking, what the hell you are doing. It makes abolutely no sense for them ... Until they understand the previous paragraph, and then everything fits...

Am I a paranoid megalomaniac because I think that I'm correct in this? May be I am, but I may also be correct.

Thus, if Underscore and I are correct, how can we get out... I have no idea, my only suggestion is to ask Bobby Fisher, or Steve Hawkins, their IQ was a little higher than mine :) ... :(.

Although judging from the last conference Steve Hawkins gave (available in Youtube) he doesn't have the solution, since he indicates that humanity is at its most dangerous time in history and he has doubts about our ability to survive the next hundred years... Watching the conference was pretty depressing for me, I thought that he could have figured out a solution to the mess or had higher hopes for us...

Don't take me wrong, there are solutions that would make things work, but the problem is how to implement them, how to make them happen, and about that is that I have no idea how to make the solutions happen. Steve gave me the impression in his conference that he shares the same thoughts, poor consolation for me, given the future that I envision today.

Until next time,

Engineer

 

Tue, 05/22/2012 - 12:35 | Link to Comment dizzyfingers
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"Greece, escape while you still can!!!"

Tue, 05/22/2012 - 17:25 | Link to Comment NewWorldOrange
NewWorldOrange's picture

Germany! Escape while YOU can! You need to be a part of those blood sucking parasites' Euro Club about as much as Texas needs the federal government.

Tue, 05/22/2012 - 12:35 | Link to Comment lordbyroniv
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Lovez the Firage.

Tue, 05/22/2012 - 12:36 | Link to Comment tu-ne-cede-malis
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It's hard to tell if, based on his question, Mr. Papanikolaou is an insider who wants Greece destroyed for his own benefit, or if he simply has no knowledge of economic history. 

Tue, 05/22/2012 - 12:38 | Link to Comment Joshua_D
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Nither would be really surprising.

Tue, 05/22/2012 - 12:48 | Link to Comment sexcellent
sexcellent's picture

@tu-ne-cede-malis

perhaps both

Tue, 05/22/2012 - 12:48 | Link to Comment Global Hunter
Global Hunter's picture

he seemed to me like he was in a state of disbelief as to the state/status of his own beliefs.  

Tue, 05/22/2012 - 12:39 | Link to Comment Dr. Engali
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I have a man crush on Nigel.

Tue, 05/22/2012 - 13:24 | Link to Comment Sandmann
Sandmann's picture

Bromancer

Tue, 05/22/2012 - 12:42 | Link to Comment Doubleguns
Doubleguns's picture

For greece the sky fell a long time back. Now they have to decide to live with it or pick up the pieces. I suggest they brush themselves off and start picking up the pieces.

Tue, 05/22/2012 - 12:46 | Link to Comment willien1derland
willien1derland's picture

Nigel Farage has the courage of 100 men & the integrity that is missing from all political forums - unfortunately the Banksters know that democracy will require them to accept the losses - When Greece defaults the derivative markets will play their version of 'spin the bottle' & when the circular references reveal the usual suspects the loss profile will force them to be responsible & accountable - but those are terms which are only applicable to the working class - I wish the Greeks luck & keep them in my prayers but I would rather struggle knowing I can influence my future than live in slavery to bankster elite because they will yield no quarter nor will they promote any mercy

Tue, 05/22/2012 - 12:47 | Link to Comment tim73
tim73's picture

About 80 percent of Greeks want to stay in euro. So this little Englander from foggy islands just "knows" better?! Without even that island in Eurozone?! Fuck off, Farage. Mind your own business.

Tue, 05/22/2012 - 13:08 | Link to Comment kridkrid
kridkrid's picture

If what you say is true, and I don't doubt you... what that tells me is that 80% of Greeks have been successfully propagandized by the central banking oligarchs and the apparatus that they control.  Somewhere inside you, you know this to be true... especially if you've managed to find your way here.  So instead of hostility towards his message, perhaps you should share it with others.

Tue, 05/22/2012 - 15:02 | Link to Comment kikkoman
kikkoman's picture

not quite, but close:

 

Like many Greeks who punished mainstream parties in a fruitless May 6 election that has brought Greece to the edge of a political abyss, she thinks politicians have exaggerated the threat of euro expulsion to scare up votes for failed policies.

http://news.nationalpost.com/2012/05/22/greek-paradox-majority-believe-greece-can-stay-in-euro-but-reject-bailout/

 

as much as I'd like to agree with NF - substantially he's right and an optimist  - this will make for a very nasty narrative among the Greek people. Can you say Dolchstosslegende?

time's running out for them, and I really doubt they'll come to their senses before you-know-what.

many greeks are going to be pissed for who knows how many generations.

Still, great work, Mr. Farage!

Tue, 05/22/2012 - 13:09 | Link to Comment PivotalTrades
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Greeks want to stay in the Euro because they believe they can make Germany pick up the tab. 

Tue, 05/22/2012 - 13:36 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

The Little Englander comes out again. Got a f**king brain, have we? Or do we just copy the other Europrats in daubing insults all over the place? Nurse, the nappy needs changing.

Tue, 05/22/2012 - 12:52 | Link to Comment Cpl Hicks
Cpl Hicks's picture

Dismissing the propaganda-like vision of growth and jobs that is now at the forefront of any and every word from the status-quo seekers that are the European Elite, England's Nigel Farage notes the hypocrisy of the forthcoming summit's agenda.

If there were a Nobel prize awarded for speaking the truth you would be my nominee, Tyler!

 I know, you wouldn't accept it and would probably quote Groucho Marx on the subject, but still...thank you very much.

Tue, 05/22/2012 - 13:03 | Link to Comment Satan
Satan's picture

How many countries were allowed to leave the Warsaw Pact?
How did countries eventually manage to leave the Warsaw Pact?

Tue, 05/22/2012 - 13:23 | Link to Comment Sandmann
Sandmann's picture

The Soviet Union could have left any time it wanted.....

Tue, 05/22/2012 - 13:05 | Link to Comment Satan
Satan's picture

How many countries were allowed to leave the Warsaw Pact?
How did countries eventually manage to leave the Warsaw Pact?

Sorry for the double post...first post stage fright!

Tue, 05/22/2012 - 15:51 | Link to Comment marathonman
marathonman's picture

Satan had stage fright?  Interesting.

Tue, 05/22/2012 - 13:10 | Link to Comment tim73
tim73's picture

Is this the Nigel Farage fan club? This man is a typical populist. Now he is talking like Greeks are being hammered by EU when in reality Greeks themselves WANT to STAY IN EU AND EUROZONE. How do you numnuts explain this paradox?! Or I get now, do not speak bad about our Heavenly Cult Leader, right?

Tue, 05/22/2012 - 14:13 | Link to Comment Satan
Satan's picture

Yes the Greeks want to stay in the EZ and the EU. They also want jobs for life, free medical, free education and to retire young on fat pensions. What they don't want is to pay their fair share in tax or pay for anything at all. They behave like petulant children ,demanding bailout money but unwilling to offer anything in return. Now they need to be force fed their medicine.

Tue, 05/22/2012 - 21:15 | Link to Comment BigJim
BigJim's picture

Awww, wossamatter Timmy? Nigel turn you down?

Wed, 05/23/2012 - 00:53 | Link to Comment Cosimo de Medici
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And 99% of former subprime borrowers in the US want to buy another house with the same generous terms they got in 2007---and bankers probably want to give them the loans, provided they can securitize.

Upon entering the Eurozone Greece's funding costs, both public and private, tumbled.  What's not to like?  The Government built a non-viable public sector and promised the impossible to its people, and the Greek people bought Porsche Cayenne's at a per capita rate exceeding any other EU country.  Property boomed, and everyone lived the good life.  Debt vastly outgrew economic growth and domestic capital formation.  The bills came due.  Greece couldn't cover the vig, and so long as their economy is forced to compete with Germany, will never be able to match desire with competitiveness.  The desire to remain in the euro merely reflects nostalgia for those few good years before the bills came due, but it ain't going to be Yesterday Once More (unless a majority of Eurocitizens are like you and are happy to fund the Greek's lifestyle).

Tue, 05/22/2012 - 13:09 | Link to Comment lemonobrien
lemonobrien's picture

suicide is painless; it brings on many changes.

Tue, 05/22/2012 - 13:11 | Link to Comment buzlightening
buzlightening's picture

Farage the only financial economic financial  dr in the PM house.  Bleed the patient clean of toxins the leaches have created.  Nigal Farage stands alone as brave men do!  Bring on the leaches and let the Ezero die.  Won't be long for ameriCON'd to follow. 

Tue, 05/22/2012 - 13:20 | Link to Comment Legolas
Legolas's picture

I'm waiting for Nigel to go up to Mr. van Rumpoy, give him a wedgie, and tell him "now you know what it feels like to be Greece".  

Tue, 05/22/2012 - 13:21 | Link to Comment goforgin
goforgin's picture

So the solution is for Greeks is to compete with China labor? I am afraid that Nigel has an agenda, helping Greece is not it.

Tue, 05/22/2012 - 13:28 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Pretty much. Makes the retarded Americans giddy like school girls though.

They love the 'truth'.

Tue, 05/22/2012 - 13:53 | Link to Comment Cpl Hicks
Cpl Hicks's picture

You may not understand this but everyone is competing with the Chinese.

The exceptions, Cubans and North Koreans, pretty much prove the rule.

The Greeks are going to take their medicine. It will be the hard way or some other much harder way.

Have a plate of feta and a glass of retsina and watch this play out.

Tue, 05/22/2012 - 13:39 | Link to Comment Marco
Marco's picture

If Greece leave the Euro all trade deficit nations in the EU will have to declare a bank holiday and do the same thing instantly ... or be faced with a national bank run which will kill their economies.

There is only one way we can allow Greece to leave the Euro, by the EU first guaranteeing all current Greek bank deposits in Euros (with conversion to Drachme being done only gradually as people need to perform trades within Greece). It will cost a lot of money, because all the Greek banks will go bankrupt in short order as their loan payments are converted to Drachme while the deposits are still in Euros ... but it will be money well spent IMO.

Tue, 05/22/2012 - 13:46 | Link to Comment tim73
tim73's picture

Greece is few percent of GDP in the Eurozone, it is not that important. Yes, banks will go bust but still, the losses will be manageable. There are painful times ahead no matter what Greeks or creditors of Greece will decide.

ECB could cut off credit lines within next few months and then Greeks would be in instant pain and suffering greatly. Most likely Greece will become a failed state and citizens still use euros. 

Tue, 05/22/2012 - 15:12 | Link to Comment Marco
Marco's picture

Greece is not important in and of itself, the problem is that if Greek banks go bust and the depositors are left with the loss (because Greece is bankrupt and can't print Euros to pay for it's deposit guarantees) then there will be a bank run in all the countries which might be heading the same way.

Which is of course most Euro countries, because unlike say the US our deposit guarantees are not ultimately back stopped by the printing press. If we actually try the Drachme adventure I imagine the EU will be forced to give full faith and credit of the ECB to bank deposits though, but only after a metric fucktonne of chaos.

Tue, 05/22/2012 - 13:32 | Link to Comment Oldrepublic
Oldrepublic's picture

Sweatshops have their place! It is better to have low wages than massive

unemployment.

Tue, 05/22/2012 - 13:51 | Link to Comment q99x2
q99x2's picture

By the time things deteriorate like they have in Greece a lot of politicians and banksters have become guilty of crimes that are prosecutable. Those people whether in the US or Greece don't care about the people because if things turn around they are headed straight to jail.

United States of Europe. What would ever make one use such a term for (not Farage I mean others) It implies United States of Greece at this point. And is more like the Fatherland of Homeland Security and Banker Occupation.

All Farage has to do is find someone to listen to him. That gang of NWO he is talking to understand. They won't stop until the world goes pop.

Tue, 05/22/2012 - 13:48 | Link to Comment zonkie
zonkie's picture

If you look through the entire video (any EU parliament video), there is a very spooky music in the very end. A twilight scene with a haunting music, very chilling indeed. 

Anyway, on the subject - Farage should also have mentioned that Drachma will re-ignite tourism in Greece, today the hotels are priced at 5-6 times that of neighboring Turkey and they are not even clean. In fact travel insurance to Greece is most expensive because more tourists fell sick in Greece last year than any other European country.

Tue, 05/22/2012 - 14:13 | Link to Comment MrBoompi
MrBoompi's picture

Damned if you do or damned if you don't, so you might as well go ahead and do.  Much of the world, who take their advice from the financial elites, still believe we can pay off the debt that was created for us.  And when there is nothing left to take, they'll create more out of thin air and take that too.

 

 

Tue, 05/22/2012 - 15:05 | Link to Comment boiltherich
boiltherich's picture

One week from Thursday, on the 31st, Ireland goes to the polls to vote on ratification of the EFSF, polls right now are hard to read, not trust worthy as the government REALLY wants a yes vote and are doing all they can to supress the no campaign, the yes side claims to be ahead by no more than the margin of error, but they also admit that more than 40% of the voters have not made up their minds yet.  If they vote no on the ratification all further bailout disbursements will cease at least till the treaty change is modified.  Germany has IMPLIED it would leave the euro before that treaty change is in any way modified, they are adament and today Austria joined that sentiment. 

In a related development:

Eggs thrown at Taoiseach's car in Donegal

http://www.irishtimes.com/newspaper/ireland/2012/0522/1224316502227.html

And remember Kennedy is the guy they voted for when they tossed the old guard out of office in the most stunning upset in Irish political history, and that is saying a lot.  But the DAY after the guy took office he had a summit with euro leaders and instantly turned into a Eurocrat ass kissing bailout hound.  If the voters could vote again today he too would be toast and on his ass begging for coins on a Liffy queue. 

Tue, 05/22/2012 - 15:17 | Link to Comment Nachdenken
Nachdenken's picture

... Irish ayes are smiling.

Tue, 05/22/2012 - 15:14 | Link to Comment honestann
honestann's picture

Greece will be fine if they escape the euro and stop being a top-down predator-run society.  Will things be a bit funky for a few weeks?  Sure.  Will things massively improve thereafter.  Absolutely.  Get real, and get independent Greece... and you'll be fine.

Tue, 05/22/2012 - 15:50 | Link to Comment jonytk
jonytk's picture

I'm starting to suspect all those people screaming GREXIT GREXIT have credit default swaps on Greek bonds...

Tue, 05/22/2012 - 18:02 | Link to Comment The Alarmist
The Alarmist's picture

All we are saying is give Greece a chance.

Tue, 05/22/2012 - 20:01 | Link to Comment Quonk
Quonk's picture

...we are the world...we are the sheeple...

Tue, 05/22/2012 - 20:26 | Link to Comment jerry685
jerry685's picture

This amount of debt is unsustanable....and always will be...Greece needs to take the Iceland approach..

Tell the banksters to get stuffed...When this goes down it will be quick...46 hours...maybe

Runs on the banks are a good start...to an inevitable end...

 

http://www.bloomberg.com/news/2012-05-22/war-gaming-greek-euro-exit-high...

Tue, 05/22/2012 - 20:51 | Link to Comment zippy_uk
zippy_uk's picture

Representing the "IN THE EURO CAMP" - Rumpoy and Barroso

Repersenting the "OUT THE EURO CAMP" - Nigel Farage

 

Definately two losers in this debate - BUT ONLY ONE WINNER

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