Spiegel: "It's Time To End The Greek Rescue Farce"
Back in July of 2011, when we first predicted the demise of the second Greek bailout package, even before the details were fully known in "The Fatal Flaw In Europe's Second "Bazooka" Bailout: 82 Million Soon To Be Very Angry Germans, Or How Euro Bailout #2 Could Cost Up To 56% Of German GDP" we asked, "what happens tomorrow when every German (in a population of 82 very efficient million) wakes up to newspaper headlines screaming that their country is now on the hook to 32% of its GDP in order to keep insolvent Greece, with its 50-some year old retirement age, not to mention Ireland, Portugal, and soon Italy and Spain, as part of the Eurozone? What happens when these same 82 million realize that they are on the hook to sacrificing hundreds of years of welfare state entitlements (recall that Otto von Bismark was the original welfare state progentior) just so a few peripheral national can continue to lie about their deficits (the 6 month Greek deficit already is missing Its full year benchmark target by about 20%) and enjoy generous socialist benefits up to an including guaranteed pensions? What happens when an already mortally wounded in the polls Angela Merkel finds herself in the next general election and experiences an epic electoral loss? We will find out very, very shortly." Alas, it has not been all that very "shortly", as once again we underestimated people's stupidity and willingness to pay the piper of a crumbling economic and monetary system. But our prediction is finally starting to come true. Spiegel has just released an article, which encapsulates what well over 50% of Germans think, who say that the time to let Greece loose, has come.
Greeks burning a German flag:
From Der Spiegel
It's Time To End the Greek Rescue Farce
Whether it be an escrow account or a budget commissioner, the latest demands by Germany show just how absurd negotiations over Greece's future have become. It is high time to bring an end to this tragicomedy.
For the past two years, Greece has wrangled with the euro-zone states and the International Monetary Fund (IMF) over its so-called "rescue." Austerity measures have been agreed to, aid has been paid and private creditors have been forced to accept "voluntary" debt haircuts. Despite all this, Greece is in even worse shape today than it was then. Its economy is shrinking, the debt ratio is rising and the country and its banks have been cut off from capital markets. There isn't even the slightest sign that the situation might improve. Something has gone very wrong with this rescue.
But none of the protagonists seem to have grasped this. They continue to negotiate as if things are business as usual, they let one "final ultimatum" after the other pass and they persistently fail to realize that their discussions have started to verge on the absurd. It would be a lot better to end this farce.
For weeks now, the Greek government has been negotiating with private creditors and the troika comprised of the IMF, European Union and European Central Bank (ECB) over a second bailout package. But it is already clear that this aid package will not save the country. It appears it will only delay a Greek insolvency -- and it will serve to create new hardships for the country's population.
It is time for politicians to admit that their carrot and stick strategy has failed. The idea that the country can be freed from its debt quagmire though austerity programs and aid pledges tied to conditions just isn't going to work. It won't even work if private creditors forgive part of the country's debt.
Broken Promises
For months, Greek government politicians as well as the so-called rescuers in Berlin, Paris and Brussels have all been deceiving themselves. Each supposedly final rescue package is followed by yet another, and austerity pledges aren't being adhered to.
That has a lot to do with domestic political considerations. German Chancellor Angela Merkel and French President Nicolas Sarkozy must convey to their voters that they have the situation and, especially the Greeks, under control. Meanwhile, the government in Athens must, out of self-preservation, limit the burdens to its own people as much as possible.
That's why both sides repeatedly agree to promises that everyone knows they will not be able to keep. The current rescue package, for example, officially agreed at the euro summit at the end of October, already has to be improved because it has become too small.
The Greek economy is shrinking faster than assumed. And the austerity plan Greece approved last summer under pressure from its euro-zone partners is also failing to live up to expectations. That's no wonder, either, because €50 billion of the €78 billion in total savings pledged was tied to proceeds from privatizations that, not surprisingly, have failed to generate the profits expected.
Out of Thin Air
The truth is that it must have been obvious to all parties concerned, including the Germans, that the figures were pulled out of thin air. What kind of investor would invest so much money in a country that, for the foreseeable future, will be stuck in a serious economic depression?
The supposed rescue efforts have culminated in the latest German proposals. The German government would like to send a "budget commissioner" to Athens to keep an eye on the Greeks. If that doesn't work, then the Germans also want, at the very least, to be able to impound Greek accounts if they don't pay back their debts through an escrow account.
The suggestions have justifiably provoked outrage. Quite apart from the humiliation these measures would entail for the Greeks, Athens would almost certainly find a way to circumvent them. In the end, Germany would wind up turning an entire nation into its enemy without even gaining anything.
Greece Must Go Bankrupt
Perhaps, the Greece rescuers on both sides of the negotiating table should try being honest for a change. Here's the truth: If the country is to lastingly reduce its mountain of debt and, at some point, be able to borrow money on the capital markets again, then it needs a comprehensive debt haircut. In other words, it needs to go bankrupt.
And it's not just private creditors who will have to forego a large part of their outstanding Greek debts. It is also other European countries and the European Central Bank. That would be expensive for taxpayers across Europe, and it would also be economically risky. Indeed, no one knows what consequences a Greek bankruptcy would have for other crisis-ridden countries like Portugal, Ireland or Italy. But at least it would be an honest solution.
Of course, things wouldn't stop there. The euro-zone states would also have to build a bigger firewall around the remaining crisis countries in order to prevent contagion. They would have to help some banks that get into trouble as a result of a debt cut. And they would have to provide Greece with a real opportunity to get back on its feet and start growing under its own steam -- in other words, a kind of Marshall Plan.
All this would be very expensive, and German taxpayers would also be forced to do what they have feared from Day One -- which is to pay for Greece. But this solution has two major advantages. The payments would be limited, and they would actually help Greece.
And unlike everything that has been negotiated up until now, the solution would also be worthy of being called a rescue package.
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Replace "Greek Rescue" with "EU"
"It's time to end the paper ponzi."
Greece needs to be cut loose and left to its own spendthrift devices. And the banks that foolishly lent them money must take losses and heads of their executives must roll.
Yes, I would only add, that the fraud should be prosecuted on all levels. Hhmm, greeks buring a german flag. Let's see, I wonder how they would feel about germans burning greeks? Wake up sheeple of greece, get your politicos before they get you!
If the Germans are at all concerned about their purchasing power they would buy silver. Oh, hey there Trav.
As ugly and distasteful as a Greek bailout is, it must happen, otherwise the house-of-cards will collapse. It will happen no matter what. And it will keep happening in Greece, Portugal, Spain, Ireland, Italy, etc. It doesn't matter how foolish bailouts are ... they will happen ...
This is what happens when a financial system is on its last leg: the focus becomes putting out one fire after the next . . . . anything to keep the house of cards intact.
The only people who fear a collapse are those who know that their labor isn't worth shit. I say bring on the collapse, restore the rule of law. Bailouts without prosecuting the fraud simply allows the moral hazard to continue. I can guarantee you one thing, in the well-armed societies that rise from the ashes people will be polite and compensation will find its way to people who are actually worth a shit. The paper-pushers have forgotten that there is a very real cost for creating capital without creating real value, time to pay the piper.
http://www.youtube.com/watch?v=x3EUzV5_TUs&list=PL2E135D21E0288618&index=1&feature=plpp_video
A Rothschild Speaks - Listen Closely
1 World Currency!
We must de-construct to be able to capitalize on the Crisis!
The Sheep LOVE a Hero!! who will be the 1 World Currency Hero?
High unemployment implies the failure of the welfare state. In Sweden, unemployment
increased strongly in conjunction with the crisis of the 1990s, following which it has never
fallen below 6 per cent. In this situation, it is important to use every means to improve
conditions on the labour market and also to debate the role that could be played by monetary
policy in the fight against unemployment. But it is equally important that this debate is
realistic. From time to time, we have to remind ourselves that the possibilities monetary
policy has in this area have their limits. This is primarily a matter of influencing the more
short-term area of unemployment, which depends on economic activity, via effects on total
demand in the economy. The area of unemployment that also exists in balanced economic
cycles is harder to deal with. This unemployment is usually called long-term unemployment
or equilibrium unemployment. The degree of equilibrium unemployment is highly dependent
on how well the labour market is functioning, which is affected by policy areas other than
monetary policy. Placing an excessive focus on monetary policy in this context could easily
lead to the underlying problems on the labour market – and the solutions to them – not
receiving the discussion they deserve.
http://www.bis.org/review/r120124c.pdf
Henry Ford-
"It is well enough that people of the nation do not understand
our banking and monetary system, for if they did,
I believe there would be a revolution before tomorrow morning."
well.. it looks like the polite blue blooded, blood suckers have voted Death for Greece.
That would be the presbyterian's NOT! the Jews that they bank roll.
http://www.youtube.com/watch?v=JDCUJnoQL8s&feature=uploademail
Portfolio: Eurozone Prepares To Eject Greece by Stratfor
Eat the Rich!
The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
http://www.federalreserve.gov/faqs/about_14986.htm
They have been eating You! and Yours!! for GENERATIONS!!!
Article I, Section 8, Clause 5, of the United States Constitution says
"Congress shall have the power to coin money and regulate the value thereof and of any foreign coins".
But that is not the case.
The United States government has no power to issue money, control the flow of money, or to even distribute it - that belongs to a private corporation registered in the State of Delaware - the Federal Reserve Bank.
http://www.youtube.com/watch?v=V74DERg_aCI
Keiser Report: It's All Legal, Folks! (E246)
Uploaded by RussiaToday on Feb 7, 2012
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the supercommittee that runs America, the perils of Draghi's "blitz" and the IMF turnaround on austerity for Greece. In the second half of the show, Max talks to Gonzalo Lira about austerity, printing and running.
KR on FB: http://www.facebook.com/KeiserReport
Signed, Christian Constitutionalist
P.S. Don't forget!! “See Something? Say Something!” and here is the link for you ---- > http://www.dhs.gov/files/reportincidents/see-something-say-something.shtm
DHS Home Grown Christians Trying to Protect the Constitution are now Terrorists Propaganda
http://www.fas.org/irp/eprint/rightwing.pdf
TLDR
In spite of the fact that you tar entire religious, ethnic and philosophical groups with the same debasing brush, the flip side being equally distasteful "Death to America" (meaning you too, you filthy hegemonic infidel baby killer) you are right about the one world currency and the one world government. This however is prohibited by the Constitution ( I know, big fu.... deal) of the United States of America. It is bad enough the US is rapidly becoming totalitarian with central control of all. Allowing a united world government to give us orders is unthinkable. You would be assigned your work, your compensation, where you may live and number of children you are allowed. I don't think even the sheeple would let this happen.
Bingo! Go back to Article I, Sec 8
Eat the Rich!
The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
http://www.federalreserve.gov/faqs/about_14986.htm
They have been eating You! and Yours!! for GENERATIONS!!!
Article I, Section 8, Clause 5, of the United States Constitution says
"Congress shall have the power to coin money and regulate the value thereof and of any foreign coins".
But that is not the case.
The United States government has no power to issue money, control the flow of money, or to even distribute it - that belongs to a private corporation registered in the State of Delaware - the Federal Reserve Bank.
President George Washington* called this "usurpation" of Constitutional Powers, "the customary weapon by which free governments are destroyed." But how does this happen you ask, what is the trigger?
AND THE ANSWER IS: By removing (usurpation) of the Constitutional Powers/Duties of the Congress (see Article I, Sec. 8), these powers are not only taken over by "cunning, ambitious, and unprincipled men*", but what has happened in the transfer (usurpation) of said powers, is that the PUBLIC FORUM, the foundation of our Constitution and the means by which the people exercise their power and authority over their government and rule said government, is now gone. And not only gone, but reversed, and those "unprincipled men" who now control these Constitutional Powers/Duties, conduct their business in private well out of the PUBLIC FORUM, and now they exercise the power, not only over the government, but over the people.
This is both the definition and difference between LIBERTY and TYRANNY. And tyranny, a failed economic system, drains the wealth of the Nation in order to survive and maintain that segment of the population that supports this tyrannical government that sustains it. This is the problem in America today. And if we want to change it, we must force the Congress to restore and perform its Constitutional Powers/Duties, by returning all specified Powers/Duties, back to the Congress and back into the PUBLIC FORUM, where the people may once again rule and direct their government, rather than being ruled.
See www.nar2012.com for a full explaination and the book, "New American Revolution: The Constitutional Overthrow of the United States Government", designed to empower all Americans to take back the Congress in 2012.
No. Greece MUST be cut loose. Greece WILL NOT CHANGE. And it sure as shit won't if there are no real consequences.
The banks can be saved and the bankers imprisoned even if Greece is cut loose.
nobody in the rest of the world who is a not a getrichquick speculator would EVER be interested in silver.
Indians are typically poor...how do THEY "protect" their purchasing power? GOLD.
Silver is loose change.
Greeks are reacting exactly as they are programmed to do by the banksters propaganda.
LTRO is the firewall that article mentions. Why else would the banks have gobbled up the cheap ECB credit and parked the money with the ECB?
But wait, you can't cut the welfare off to people who just don't know how to work, pay taxes and take care of themselves. How can you blame Greeks for the value system of their culture...their demands are no different form the 99%'ers. There is an old saying, "eat what you kill"...it's not the most pleasant way to do things but it sure keeps things simple. Stop the favors, stop the manipulation, write laws that create a level playing field and ENFORCE them. Shoot the lobbyists and the corrupt banksters and politicians and maybe we'll have a chance...
I agree with you Trav.
And of course you realize that will destory the paper ponzi worldwide and then Silver will be accepted as money again...sending the price past Pluto. I'm glad we agree for once.
nonfuckingsense.
Tally sticks are more likely than silver. Fiat is here to stay.
If I'm from Bavaria I'm telling Chancellor Miracle to take a hike. "turning Germany into a country of 62 million" is the solution. Move along!
Greece will be cut loose. It may (likely) take a revolution. The citizens will not accept it.
"And the banks that foolishly lent them money must take losses and heads of their executives must roll."
Wow, a cogent statment from trav I can get behind. Party on Wayne! Party on Garth!
Cut them loose and pay for it ONCE.
OR
Bail them out now, and every time their bill is due, because they have no desire or infrastructure to pay their own debt.
They don't work and they don't collect taxes.
Germany KNOWS about austerity, they just went through it when they "reunified."
They KNOW it can be done, they KNOW it's painful, they have NO desire to pay for some other countries mistakes.....and I don't blame them.
Their problem, and the problem with the EU, is that the ONLY way out of this problem is to print money.
If you can't print your own money, then, everyone has to pay for the moneyprinting needed to offset the laggard nations. In previous decades they have enjoyed the benefits of "the union", now they are faced with it's shortcomings.
I think this is a "microcosm" of the global financial meltdown. My cure is to "wipe the slate clean", YES, forgive all debts, start over, square one....reset. The only ones to lose, then, are the banks and agencies that CAUSED this problem, and if they can't survive.......(see Greece).
JFC, dude, eliminate all the debts?
So if I lent you money, I'm fucked? I'd have to come kill you.
You cannot just say clean the slate because there are REAL PEOPLE who are owed REAL MONEY, even if they are bondholders of greek debt. A lot of pensions would be wiped completely out by jubilee. Usually only silverbugz are misanthropic enough to want something like this to happen, as they are by nature losers whose only chance to be tall is to have everyone else chopped off at the knees.
I say print and let the chips fall over time.
The other option is my brother lent me money that I can't pay back, so YOU have to....you're STILL fucked!
I go to Vegas and put it all on red, it comes up black, that's SOMEONE ELSES fault?
And the "real people owed real money", Whose "pensions would be wiped out" are the clowns burning down Athens, retired at 45, that never paid taxes. We have our own problems. It has never been properly explained to me why WE need to pay for the bad investments of bankers. On that note......where did the money go?
Money doesn't disappear.
In this recession,if TRILLION$$$ were "lost" then trillion$$ were "made". Where did the TRILLION$$$ go?
These paper losses were paper profits SOMEWHERE, or they never really existed. Wiping the slate clean would only have a negative impact on the businesses shuffling them. (If the blame is properly placed)
My "global" cure follows the same logic as the Greek cure, let the guilty party pay more now, instead of EVERYONE paying for generations.
Or Greeks, rescued by the EU, rescued by the fed, rescued by American tax payers?
...rescued by the aliens.
"...rescued by the aliens." So the annunaki again return to earth to swap our gold for a bailout? Sounds more plausible than the constant propaganda out of the EU..
That was the plan all along... Didn't you hear?
But this time around... the "Kardashians" get to be the chosen people
You mean American tax prayers.
Get it? Get it? GET IT?!?!?!
Red.
My greatest fear!
OR.......
The US bails out EVERY nation ALL their sovereign debt. We just have Uncle Ben print the world to a ZERO balance.....then WE declare bankruptcy!
No, wait, what am I thinking, we are all at ZERO, if no one owes anyone, how could you need bankruptcy?
Problem solved, I'm going to bed. Wake me if you need any more help.
Replace "EU" with "global central banking cartel ponzinomics".
Exactly, as soon as one domino falls, they all do ;)
Why didn't they fall when Argentina hit the brick wall? Or when Asia's debt crisis crippled those nations? The Ponzi Masters have had 2000 years to perfect their game.
Actually, over the last decade or so, the Ponzi Masters have made more progress and become more sophisticated than the past 2000 years combined. They have many more exotic "instruments" to play with, unbelievable leverage, and warp speed vehicles. Wheeee!
Derivatives, the world's most efficient wealth extraction device.
As for the Ponzi Masters, well, this too is their doing. Even they understand sustainability and mathematical certainty. So, they set up things to fail in a method to their benefit.
I am waiting for a final move higher in EURUSD and then I am gonna call my broker at Armada Markets and tell the guy to go all in and short euro with my FX account. This euro is a major fiasco.
If they let Greece go and kick them out of the EU does that not strengthen the Euro? Then when they do it again does it not strengthen it again? Won't the end result be having a euro that is based on the strong remaining countries?
The Euro is not going to tank because the USD is worse. The haydays of Dollar hegemony are over and the world is looking for alternatives. Don't matter how much debt the Europeans have when their trading with Asia, Africa and South America is worth more than the US trade combined.
Der Spiegel used the phase 'tragicomedy,' bitchez!
That can only mean one thing: It's almost over.
Just file bankruptcy already, Greece+Portugal+Ireland+Spain+Italy+France.
Britain won't be far behind, especially if the British banking/financial sector upon which it's so reliant (courtesy of the House of Red Shield) can't get more many trillions of euros via a bailout of the EU, because neither German nor Greek (or PIIGS+France) politicians want to be burned at the stake, in the wake of said bailout, with purchasing power falling at a rapid and precipitous rate across Europe as the ECB-CERN printer pushes beyond the boundaries of BernanCommodus Ponzinomics.
Then again, bakers won't have this, as they do own the 'sovereign states' and their 'sovereign citizens,' in reality. Can't let old man Mayer Amschel & his progeny down. He had the knack for enslaving peoples' children and telling them it was for their own good, as he stuffed his gout-sticken face with even more of the finest meats & cheeses.
So print away, bitchez!
I can see it now: European so-called leaders/Central bankers telling the populace that 'tis merely a flesh wound (akin to The Black Knight in The Holy Grail) as petrol/diesel soar beyond the €5 per liter level (or €19 per gallon), foods and energy prices quadruple, and a whole new slew of taxes and fees take the remaining pound of flesh out European backsides.
And then they complain that nobody loves them. Go figure.
Replace "Greek Rescue" with "US"
The moment approaches (and approaches, and approaches...)
When does the gold standard get reinstituted?
By the people first obviously. Do you think any of these assclowns will do it voluntarily?
JA!
Is this like one of those exponential curves in geometry that approaches a line but never actually gets to it? I never wuz 2 gud wit teh maths
since they like their drama in the EU I look at it like a soap opera...first one to come to mind.."Days of Our Lives...which is in its 47th year.
... infinitesimals, invented by Archimedes. Damn' Greeks.
That's it ! Hire some non-Greek negotiators to do the deal.
The problem all along is the Greeks are caught in their own Zeno Paradox.
Break the mold.
Legend has it that Alexander used his sword to cut the Gordian knot...
yes, at one point (a long point) the predominant nation on the planet in all aspects of what we call culture.
Archimedes was able to calculate the length of a spiral without the calculus, which was an astonishing feat. However, he used "indivisibles" and the method of exhaustion, which was invented by Antiphon.
Asymptote?
The gold spike indicates that the smart money already agrees with the author's thesis.
Isn't Gold trending down on the one year chart?
We could see 1500 before we see 1900. Yes, today is 2/7/2012 and at 1:56 pm it is trading at 1750.
Just looking at trendlines.
OMFG just default already.
are we half-way there yet ? Every day I keep asking myself that. <Zeno>
Default is the solution, not the problem.
Yeah, end it already! Enough is enough. Default and let's deal with the next problem. And the next. And the next….
I accidently fell off the ship
Old Joke!
"What happened then?"
Bugs, "I drowned, of course."
the money could have “vaporized” as a result of chaotic trading at MF Global.
or there is the South Park classic "And It's Gone".
Time to end or reset everything with the word "bank"...
NO matter waht De Spiegel says, Merkels hands are tied. She's all in with a gut shot straight draw. And the river is.........
We will see if she's bought and paid for by the banking cartels or if she's a representative of Germany's national interests. She pretty much declared already that she'd agree to anything Sarkozy was saying or doing.
I want Germans to realize what's being done to them - again. They're on the hook for billions and billions of Euros payable to a banking elite that has raped and pillaged Germany for at least 2 centuries.
Unless the Greeks "voluntarily" leave the euro. Then Merkel can say it wasn't the Germans that pushed them out but the Greeks that left by their own choice.
I wonder how much it will cost to get them to voluntarily leave?
I am sure a smart Greek lawyer/politician will work the angle that Greece never entered the EU in the first place...since the Greek entry was done under "false pretense". So since Greece was never a member of the EU...then leaving is unnecessary (legally). The next day we may suddenly realize that Greece has been independently operating all along in the EU and drachmas will again be in the streets of The Parthenon.
Like an annullment.
I think it's more she hit the river and the Greeks want the Germans to forgive the pot.
Greek Bastards! Germans love the idea of working till 65 to pay for greeks to retire at 53.
Oh dear, is it "divide and conquer by spreading racism, and by now 6 months old MYTHS"-time again, in psyops land?
Reality to paid bankster crackwhore: That stuff about greeks retiring at 53, is a myth... it started out in some US news channel in a single show (don't remember which one again), and then got imitated all across MSM, and sheeple (including ZH-sheeple, and yes including famously Jon Stewart) over and over, with NO ONE EVER CHECKING THE NUMBERS.
What are the numbers? The numbers WERE (you know, BEFORE the austerity) average retirement at about 60 years, which is totally boringly average in europe, and it also is the average retirement age of germany, BEFORE it moved it up in the early euro days, as one of the many measures to bring wages down, and engage in a price-war with the rest of europe.
Basically, greek retirement age about 6 months ago, was in the same state as most other european nations. And NOW after the imposed austerity, it has been raised to about the same as germany - that is, about the highest in europe!
(I won't go into the idiotic premise, that retirement age nowadays had anything to do with total gov spending.... you know, just because you force people to work longer, it doesn't magically make an equivalent amount of additional jobs appear at the same wage.... increasing retirement age mainly just does three things: 1. It increases the total demand of jobs, thus increasing the deficit of jobs. 2. That in turn puts more pressure on wages 3. it slightly shifts the age balance of unemployed, from old to young.
Oh wait, now i DID bust this myth too, sorry)
And before you distract with another attempt of painting greeks "lazy" and greedy.... shall i state the average weekly workhours, as well as the average pay? Just asking, because the former too is about average in europe, and the later is among the LOWEST in europe.
Here's the bottom line: The ponzi wants you to believe, that greece is bancrupt, just because their are lazy and greedy, so that you believe that it is the greek people's work ethics that has bancrupted the country.... why do they want you to believe this racist bullshit? Two reasons:
1. It distracts you from what and who actually bancrupted the country (germany's price-war and corruption. Or perhaps, i shouldn't say "germanys pricewar", because it is not as if the german people wanted it..... just like the greeks now massprotest, germans also massprotested when the VERY SAME stuff was done to them early in the emu, to discount wages).
2. It justifies further exploitation of those who didn't create this mess, by those who did create the mess.
Because you know, all the problems only are there, because we aren't doing the things that caused the problems, hard enough. Bailout 1 not working? Must be that we haven't bailouted hard enough. Ponzi broke again? Must be that the population isn't sacrificing itself hard enough yet. You see, this is all the populations fault.... they just haven't sacrificed themselves enough to the ponzi, those lazy slaves.... and that is why everything is broken, you see?
So, you know....
Go
Fuck
Yourself
Arschloch.
You know who is good at that? The group that benefits when two fractions go at each other's throats because they loaned them the money to build their weapons.
Couldn't possibly be that that group is telling ignorant Americans that all Muslims are terrorists, could it? Now America is on the hook for billions spent on a stupid "war against terrorism" and not much to show for. 10 years since the beginning of that war and America is close to being broke - again.
Could you possibly post links that verify these facts. Thank you
Greeks retire when they get jobs. Their idea of working is lounging in cafes all day while drawing a paycheck
The Fatherland has spoken now bow dogs. If I was a German I would be a tad pissed off right now, Merkel is toast.
I'll believe it when I see it. Two years of this crap only to come to the same conclusion that we already knew.
Agreed. But the elastic band is wearing thin. Little hairline fractures are starting to appear everywhere.
Perhaps they were always there, and just not visible?
The corruption is going on a bit longer than two years.
Default and Exit are more and more common in todays political language regarding Greece, Germany and the Euro.
What's better is that you're in the hook for 36% of your GDP, but you don't know exactly who is negotiating on your behalf ever. You can't vote the bums out, you can't demonstrate in front of some building, you can't petition anyone. You've lost all link to what you pay in taxes and what those taxes actually go to. You have a financial authority completely unaccountable, anonymous, and unlimited in scope of authority. In short, you've got yourselves financial totalitarianism. Your only means of protest is to buy gold and silver and let the wealth transfer from fiat to you.
You've lost all link to what you pay in taxes and what those taxes actually go to. You have a financial authority completely unaccountable, anonymous, and unlimited in scope of authority. In short, you've got yourselves financial totalitarianism
That is the State of the German Republic under Angela Merkel. It appears that German democracy always takes a dive into the black hole whenever the capital is in Berlin. Politicians go completely bonkers in Berlin with grandiosity seeping out of their posteriors. Bonn was the capital of a very successful German Republic where people felt they had some say in their own lives. Since Bonn was abandoned -- thanks to Schauble organising casting votes of the FDP - the situation has deteriorated to the point where Germans may need to consider Art 20 (4) of the Grundgesetz 4) All Germans shall have the right to resist any person seeking to abolish this constitutional order, if no other remedy is available
1345 Venice all over again.. welcome to our new dark age.
Haa haaaa ha - Reuters: A meeting of Greek political leaders to discuss a 130-billion-euro ($172 billion) bailout scheduled for Tuesday has been postponed to Wednesday, a Greek government official said.
One party official, who declined to named, said the delay was because the leaders had yet to receive a draft of the bailout agreement being drawn up by the government and the country's foreign lenders.
Duh. When you owe $172 million, you can't afford to buy new toner cartridges.
Shake that cartridge Papademos! Shake it baby. Get another print job out of it.
So, "the check is lost in the mail", is the best excuse they could come up with?
So the three years was nothing more then "buying time" for the inevitable.
"There is less risk now," Mr Rutte said. "It is in our interest that Greece remain [in the eurozone] and to achieve that it must do all it has promised to do but if that does not work out, then we are stronger now than a year and a half ago."
http://www.bbc.co.uk/news/business-16923706
Sisyphus...
Except the article wants Germany to keep throwing even more money at Greece.
When do these people get it? All they talk is more firewalls, bigger firewalls, more this, more that. It should be pretty obvious to all that eurozone DOES NOT WORK as it is. The price of this political utopia is already massive and it's not gonna change. No matter what they do they will always find themselves inside the economic prison that the euro is. Continuing the same insanity will just add up to the costs and make the problems bigger for everyone but will achive nothing good. That's the reality.
An enormously profitble prison for the people who run it.
And the inmates don't mind cause "the coffee's pretty good".
Firewalls only work (temporarily) against fire - not explosions
It COULD work....just get Greece and Spain and Portugal and....so on...to do what the Chinese did...get rid of the safety net, embrace the free market and live within their (GDP) means. Of course we would need to get 'Capitalism' to straighten itself out too....we'd need the real deal and not what we actually have. Imagine all the people, living with what they produce, consuming less than that and leaving a bit for future generations....in theory that should work and would if we did not have politicians eating everyones lunch.