Ministers in Berlin warned that they would withhold international aid to Greece in a move which could trigger a fresh, damaging countdown to default in Athens. Has anyone else noted the word 'INTERNATIONAL' in the above sentence? Since WHEN did Germany have the right to with hold INTERNATIONAL money? Just when did the Germans become the mouthpiece for the rest of the world? Either somebody is stepping way above their pay grade here or the Ministers in question are suffering from a psychiatric illness called Delusions of Grandeur.Did they honestly think that the Greeks were going to just take being starved and humiliated forever? It also beggars belief that before open their stupid mouths and issuing threats like this, that they haven't stopped to think what will happen if the Greeks decide to load up those lovely German submarines and French warplanes with missiles and aim them right at Berlin and Paris! Duh! How STUPID can you get?...So the Germans will withhold money that goes straight back to their own banks who were foolish enough to lend money to feckless Greeks in the first place. This is as much as a threat as saying you will shoot yourself in the head if the other guy doesn't give you his wallet....
Greece WILL default no matter how much money is pumped into it. Why can't the eurocrats see that the damage has been done and Greece should be allowed to leave the eurozone, default and return to the drachma in order to set their own interest rates and rebuild their own economy. Is it only me who thinks Herman Van Rompuy shares a significant resemblance to Emperor Palpatine?
3 comments:
Measures to overhaul Spain's ailing banking system are expected to be announced on Friday as the government races to shore up confidence in the economy and head off fears that it will need an international bailout to remain in the eurozone.
The emergency measures taken to partly nationalise the country's fourth largest bank, Bankia, on Wednesday are not regarded as enough to encourage investors to start pouring their money back into the country.
Antonio Garcia Pascual, chief economist for southern Europe at Barclays, said that in the past six months there had been large outflows of funds from Spain and that this needed to be tackled. "If foreign investors continue to reduce their exposure to Spain at an economically disruptive rate, the country will require external financial support to manage this adjustment", he said. Some €16bn (£13bn) of public sector funds are already being used to prop up Spain's banks and Pascual believes another €50bn will be needed this year and next as banks recognise losses on a wave of property loans
saza
10 May 2012 9:07PM
So, let me get this straight....
Spain who has never had a problem with national debt is now making huge and unprecedented cuts in education and health to save money so that it can be used to nationalise a bank which will, in due course, if all goes well, be sold off for pittance.... So the private sector wins again. God, it doesn't matter what they do, they end up winning whatever the odds. It's incredible really.
Oh and by the way, I think the article fails to mention that the same government which is now nationalising the bank, criticized the same measure when proposed by the previous Socialist Government, and were resolutely against it.
Well, there you go, yet something else they lied to everyone about.... just like cuts in health, VAT increase...
Spain should follow Iceland's example, let the banks fail, prosecute the bankers, nationalise what is left of the banks and get out of the Euro.
They can start rebuilding Spain the next day!
Iceland who jailed the bankers, prosecuted the crime minister is growing at 3% this year!
All the bailouts are to protect the banks - They are capitalist institutions let them fail!
Post a Comment