Schaeuble Blesses Gaspar: German FinMin Promises To Rescue Portugal

Tyler Durden's picture


In an incredibly candid 'informal' discussion caught on video by Portugal's TVi24 television crew, German finance minister Wolfgang Schaeuble gives Portuguese finance minister Vitor Gaspar 'the nod' that after the Greek deal is done, Germany will relax the conditions of the financial assistance program for Portugal. While the soundtrack is a little flaky, it is clear that the German finmin notes they must remain resolute in their conditions against Greece in order to maintain the appearance of 'seriousness' with the fellow members of the Greek parliament and more importantly the people of Germany. It would appear that once they have flexed their muscles against the Greeks (think Lehman?) then (and only then) can (and will) they 'help' the Portuguese. Perhaps the hard default is the way they expect this to play out with the assumption they can post-hoc avoid contagion in some manner but nevertheless, Samaras' comments this afternoon on growth and a focus away from austerity do not sit in any way complementary to Schaeuble's comments in this candid-camera moment.

Portuguese TV is having a field day with the clip as they note: Vítor Gaspar was "looking like a student trying to impress the teacher," was how the commentator saw the episode. Adding, the minister "did everything but say that not only is doing everything right as even very fond of the austerity policy."


The full transcript is here (via Google Translate):

Talk quietly and when the two thought not being heard, was held on Thursday in Brussels during the meeting of European finance ministers and was captured by a camera TVI. Schäuble told Gaspar that Germany was willing to relax the Portuguese aid program, but after you solve the problem of Greece. "Thank you very much," said the Portuguese Minister of Finance. Vítor Gaspar said after the German minister: "We made ??substantial progress in the European context." "Yes, they did," says Schäuble. Pedro Passos Coelho said recently that Portugal does not need more time or more money to fulfill according to the European Union and the International Monetary Fund. "Portugal will not ask for a renegotiation of the program is running. (...) He said it clearly in Parliament and I will reaffirm it: Do not ask more time or more money to implement the program, "said on January 24, during a press conference.

Transcript of the conversation in its entirety Wolfgang Schäuble: If at the end we need to make an adjustment to the program [Portuguese], having taken large deciosões about Greece ... This is essential. But then, if necessary an adjustment of the Portuguese program, will be prepared. Vítor Gaspar: Thank you very much. Wolfgang Schäuble: No problem. Since ... It is that members of the German parliament and public opinion in Germany does not believe that our decisions are serious, why not believe in our decisions about Greece. Vítor Gaspar: We made ??very substantial progress in the European context. Wolfgang Schäuble: Yes, you did progress. Vítor Gaspar: Yes, we did. And now we have to work ...

Video is not embeddable so click picture for the link...


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I think I need to buy a gun's picture

after this is all over is the United states going to keep its "strong dollar policy?"

He_Who Carried The Sun's picture

Its simple: Schaeuble does not like to be called a NAZI which is why the Greek will be allowed to put their feet into their mouths and chew on them to death as of next month and see what the Germans say about their lying and cheating politicians and the burning of German flags, calling Merkel Hitler and such...

The Portuguese followed the Greek model for a while and finally did one sharp turn-about when they realised they were about to hit a very solid wall...

The difference between Portugal, Ireland and Greece is that the former two have tried with all they have in their power to stem the tide whereas Greece has DONE NOTHING for more than two years, literally.

So, Greek Politicians hold an entire nation hostage feeding their clients, but their time is running out now....

Wipeout2097's picture

"The Portuguese followed the Greek model for a while and finally did one sharp turn-about when they realised they were about to hit a very solid wall..."

This doesn't make sense.  The difference is that Portugal and Ireland cannot use the Nazi card

Ghordius's picture

blablabla Nazi card - the first biggest difference at the beginning of the story between Greece, Portugal and Ireland is something all here seem to have forgotten:

the Greek Government cheated big time, courtesy of Goldman Sachs advise how to park bad debt off balance sheet

the question is about trust - are their books still cooked?

Wipeout2097's picture

Did you even read or understand what I quoted and replied to?

Ghordius's picture

yes - did you read or understand my point? The difference between Greece and Portugal is not the "nazi card". It's the appalling corruption of the Greek political system. I happen to know both countries quite well, btw. Do you?

He_Who Carried The Sun's picture

This doesn't make sense.  The difference is that Portugal and Ireland cannot use the Nazi card

Nope, the difference is, Portugal and Ireland DID SOMETHING TO CHANGE the trajectory of their misfortunes, that's all.

Nussi34's picture

Schäuble is an Euro-Nazi. He will send the German population if this is the only way to rescue his failed Euro project.

Buck Johnson's picture

This is amazing, truly amazing.  The finance minister from Portugal is showing how much power HE DOESN"T have.  And the German finance minister is trying to bust Greece.

He_Who Carried The Sun's picture

And the German finance minister is trying to bust Greece.


No need a tryin' no more, son....

StychoKiller's picture

No need a tryin' no more, son....

Exclaimed the "bust" :>D

Michael's picture

Nazification everywhere now. Please sir may I have some more.

nmewn's picture

This does have that aroma about it doesn't it? The German's are the only ones with "money" to lend to the debt slaves within the EU and thereby dictate the terms?


Vhat vee cannot vin on ze battlefield ve vill vin by jour veakness...all of jour veaknesses BWAHAHAHA !!!

Problem Is's picture

Ve vant ze money Greece!

Or ve fuck you up.

Ja... and no funny stuff...

morning_glory's picture

No, Donny, these men are nihilists.

There's nothing to be afraid of.

blu's picture

I must be paranoid. I cannot help but think the whole "caught on candid camera" thing was actually a setup, staged.

Regardless the Greeks will be most displeased.

achmachat's picture

candid camera or not...

i suddenly feel the strong urge to watch "Dr, Strangelove" again.

Spooky Polish's picture

You mean "How I stopped using tanks , and used banks instead?" 

old naughty's picture

Problem solved!

Stay in, on your knees, or...

...I am flying home.

walküre's picture

Imagine you're the German finmin and you're trying to tell one country in gentle terms to take a hike, no more money. Then the finmin of another country begging for cash is sweet talking to you about their austerity and pressuring you for commitments about more money.

In the end, the German finmin is just tired of all these assclowns asking for money or guarantees from Germany. He's not about to sign the cheques anytime soon. He's got zero political support for it and quite frankly, he could personally care less about homeless in Greece or Portugal. He's just one guy.

My interpretation of Schäuble is that he's tired, he's uncomfortable and he's trying to say something without actually saying anything.

The official German government stand is that they're not sure what to do. Who can blame them? A government involved in a foreign debt crisis and asked to come up with a solution to re-finance the debt of another country. It's unprecedented. And believe you me, Frau Merkel is not concerned with a re-election bid. In fact, she can't wait for the day when this nightmare is ending. Secretly she wishes, that the parties in opposition had tried to boot her out last year. There were so many scandals surrounding her government, but nothing would stick for good and the opposition is pretty lame. That poor Angie!

Lord Welligton's picture

Schaeuble's real message to Gaspar was.....

Let us finish with Greece first.

Then we're going to fuck you so badly you'll wish you were Greek.



Wakanda's picture

Wasn't it "Then we are going to Greek you so badly you'll wish you had some olive oil."?

Cheesy Bastard's picture

+1.  Your computer must have a feature that goes straight from google translator to bullshit translator.

Wakanda's picture

It takes one to know one, and I can talk nasty bullshit.  As my hispanic friends say (with lots of drama) "Dass naasty".

StychoKiller's picture

Hmm, but Portugal DOES have olive oil...

falak pema's picture

Pecking order for peckered butt tarama.

Spastica Rex's picture

I am listening to Philip Glass and I'm so hypnotized and calm that nothing will ever bother me again as long as I live.

blu's picture

Some of his stuff can leave you jumpy though. It's a risk you have to take.

Wakanda's picture

I am never calmed by Philip Glass.  I always feel something is missing - like rhythm.

falak pema's picture

Have a glass of chilled lager, it will cure your  calm bladder, and churn your hypnotic mind.

Scalaris's picture




Glass Reflections (Cello Octet Conjunto Ibérico) - Symphony for Eight

25 Year Old Glenlivet = zero fuck given, Sir.


Spastica Rex's picture

 Amen, but I'll have a bourbon.


Texas Ginslinger's picture

He also said to 'Never turn your back to a Greek'........

YuropeanImbecille's picture

This fucking Schäuble should be hung while duct taped to his fucking wheelchair.


I wonder if there will be a new set of nuremberg trials to try these traitor fuckers ? 



sorry for faul language but tired and upset :)

knukles's picture

Now that's just plain cruel.
But that's what makes the wheels go 'round.

walküre's picture

What are you talking about?

Go after Bush & Co. for covering up 9/11, the greatest crime and false flag ever by a government against its own people. Bush, Rumsfeld & Co. starting an illegitimate war against Iraq. Putting the country on a path to fascism with the most paranoid citizens-watch program ever! How about Bush, Paulson & Co. putting a gun to your Congress heads and demanding several billion Dollars for the banks or else?

That's so blatantly obvious but oh no, gotta call out the crippled German finmin instead. Yeah, that's some conspiracy alright. Germany is asked to come up with hundreds of billions for foreign governments which cannot be repaid or collected. If Germany doesn't shut up and put up, they're cruel and mean. If they try to figure out a way to make it actually happen, they're Nazi pigs wanting to take over Europe.

Do you see now why Germany was blamed 2x for starting large scale wars in Europe? It's always Germany's fault no matter what happens. When it goes wrong and it will, then it's Germany's fault.

What a bunch of crap.

He_Who Carried The Sun's picture

Okok, you're right. If you feel that strongly about it, I will be getting very worried, so please calm down.

We're all friends here except... (well put G***ce here...), so please: RELAX!

YuropeanImbecille's picture

I was maybe unclear he should be hung for crimes against his own fucking population, I dont give a fuck about BUSH and gray aliens and all that crap.

This fucking handicapped satanist whorechild has sold out his "own" people, therefore he should die

Rainman's picture

Das moron vill be floating in der Rhine by sun up.

alien-IQ's picture

This feels like a scene from "The Godfather".

Cheesy Bastard's picture

Never tell anyone outside the family what you're thinking again.

falak pema's picture

When you ask the other for money you don't exist anymore. There is no soiidarity between serf and Oligarch. Clear as hell. To save the banks they are prepared to let the peripherals rot; only Greece was a true political scam from day one. Not Portugal, Spain, Ireland; who are all vicitms of private sector banking rape and subsequent government pump financing, socialising their private debts. Criminal scam now gone viral.

old naughty's picture

But, why Greece?

Craddle of de-civilization?

Perhaps we haven't seen nothin' yet.

Mae Kadoodie's picture

When are these Greek pussies gonna stand up and fight?