Greece requires to be bailed out...Just like the banks were a few years back...Hundreds of £Billions were dished out and also Q.E. was introduced and indeed will continue, just so the financials continue to operate...Kicking that can down the road. Now ask yourself what's the difference between banks and Greece...Both were broken by miss management and greed. Today however the banks and financials continue on their merry way...richer than ever, whilst the people of Greece (and others) must suffer austerity and unemployment...The divide between the rich in the centers of finance and politics, getting wealthier as their assets and investments go up in value maintained all the while by Q.E. and bail outs, and the rest of societies, grows wider by the day.  Greece meantime...There is an argument here, for Greece just throwing in the towel and defaulting on their debt, returning to the Drachma and say stuff it, we've had enough of this, Let the financials suffer for a change...Once this course of action happens, as sure it will, others will follow and the Euro will then be no more...First to leave will benefit the most...When?, that is the question...One is a loan and the other one is a "Donation" (well supposed to be a loan). Notice under TARP, the US government made profits - from the interest charged and the capital gains when the securities were sold. In contrast to Greece, so far 53.5% of the original loans were written off. Yet, Greece wants more debt write-off.And the same time, it wants Europe to lend it more money, which no doubt a portion will be written off in the future.  If you were the lender, would you lend your OWN MONEY to Greece?!?  As to the issue of reforms - every single country, when bloated must reform - whether the country is the US, Russia or Greece. Remember that unemployment in the US nearly reached 10M at one stage.  The extra-ordinary loans were made, so that companies and countries could carry out the necessary reforms and transition into a new viable and competitive entity (for example GM or Ireland).  Europe and IMF have offered Greece the loans, so it could carry out reforms.  But Greece only wants the money, but "does not" want to carry out reforms.  Which in the end results in Greece and companies within Greece, to remain un-competitive, which results in Greece asking for more "Loans" from Europe and IMF and more "write-offs".

A vicious cycle - no?!?

How long does it take to double your money? You likely can have twice as much wealth in 10 years, if you invest it in stocks, or 72 years if it goes into a savings account. It pays to understand the math.  Everyone says you should invest because you'll grow your money, but let's back up a second and look at how it really works.  Stocks are one of many possible ways to invest your money. While the future is never guaranteed, history suggests that they have high potential returns. The long-term average return of the Standard and Poor's 500 Index is about 10% per year from 1928 to 2014. Warren Buffett several years ago, in the aftermath of the financial crisis, said that investors should expect a return of 6% to 7% a year. Keep in mind that these are long-term averages. The market can go down in one year, and you have to wait a couple of years for things to turn around. That's why it's best to invest money that you most likely don't need for several years.  The likelihood of achieving high single- to double-digit annual percentage returns is why people invest in the stock market for their retirement. Beyond your emergency fund, why would you put money that you don't plan on touching for 10, 20 or 30 years into savings accounts that can't even keep up with inflation?  According to Bankrate, today's average money market rate in America is 0.09%. With inflation rising at approximately 2% year over year, socking away your retirement money into a savings account means you're actually losing money. (What's even crazier, there are new ways of saving that earn no interest at all, such as this new app called Digit.)

every day more bad economic data, the possibility of a stagnating economy is going to look pretty attractive soon.

The French economy remained a blot on the eurozone’s economic landscape in April, as leading surveys of the private sector showed the country lagging the pack.  Closely-followed indicators for France revealed that the country’s private sector growth slowed this month. The all-sector purchasing managers’ index (PMI) slipped from March’s 51.5 to 50.2, according to preliminary estimates compiled by Markit.  Any number above 50 would imply that the private side of the economy was growing, a threshold the French index narrowly managed to remain above. While the currency bloc’s other large economies enjoyed stronger scores, analysts at French banks declared that the country was still limp.  Frederik Ducrozet, an economist at Crédit Agricole, said that France was “still lost in stagnation”. Ken Wattret, of BNP Paribas, said that the reading “looks very disappointing”.  Both the manufacturing and services components of the French PMI fell in April, to 48.4 and 50.8 respectively, as the country's industrial sector continues to shrink. Jack Kennedy, an economist at Markit, said: "Output growth stuttered almost to a halt in April, signalling a continuation of the moribund economic environment." ... the French economy is a basket case and has been for some time. They have gold plated rules so business can't sack people, pension rights that are bankrupting the Country, taxes through the roof; workers who strike all the time.   People can't set up companies or grow businesses because over regulation by the State which actually penalises you if you want to grow your business and have massive disincentives for employing more people.  Yes Motorways and TGV are good, but then they have huge areas which are not developed unlike us which makes it so hard and expensive to put in new roads or railways; whereas in France who have huge tracks of land virtually empty to buy and build on. Huge numbers of French people have come to our more liberal shores to set up and run businesses. France is effectively closed to international business whereas we are open and welcoming.  The huge growth in jobs in the UK and reduction in levels of unemployment has been very rapid over the last 2 years. In France Unemployment, and particularly long term and youth unemployment remain stuck at over 10% and getting worse.

Shares in Greece's stricken banks fell to an all-time low on Tuesday after fears the European Central Bank was planning to finally pull the plug on the country's lenders. A memo drawn up by the ECB's staff proposed capping the emergency assistance (ELA) that has been keeping lenders alive since the Syriza-led government entered office at the end of January. Bank stocks fell by 4pc on the news, capping off a torrid run which has seen more than 50pc wiped off the value of lenders since the start of the year. ... The greek government got elected by promising that there wouldn´t be a new bailout and that they would not take any more money from the ECB/Eurozone/IMF. Unless they accept a new bailout in June they will indeed go bankrupt. For all intents and purposes they are already bankrupt, they stopped paying all suppliers to the public sector already and that debt is 3 billion euros and rising. Who wants to sell anything to hospitals, universities and schools when you don´t get paid?...For the sake of Greek sovereignty and its citizens...I hope that they do default and give the institutions the finger! Sometimes freedom is more important than forever being a slave!...70-80 % of the debt is fictitious ( usury product and corruption ) ... Unilateral Delete is the only path to be followed the people's representatives in government and appeal to Greek and international courts  ... The funny thing is, they were going to extend and pretend until Syriza arrived on the scene, and now they're going to implode the whole of the financial system just to spite Syriza.

Germany's Federal Security Council has approved the export of a fifth submarine to Israel. It's the penultimate submarine promised to Israel by German Chancellor Angela Merkel and will be handed over by the company Thyssen Krupp.  Süddeutsche Zeitung newspaper revealed the approval, citing the Federal Security Council's report to the parliamentary Economics Committee.  Germany's Howaldtswerke-Deutsche Werft (HDW) builds the new Air Independent Propulsion Dolphins and the decision to sell them has been criticized for two reasons. One, in that German taxpayers are shouldering a third of the cost.  According to an article written by Anthony Bellchambers for Global Research, the Dolphin Class nuclear powered submarines "that have already been converted by the Israeli navy to being armed with ICB nuclear missiles…has given the Israeli state 'deep sea dominance' that is now virtually irreversible."  Adding that German Chancellor Merkel agreed to supply Israel with the vessels "without any prior consultation with the EU."    "These are the first submarines that will be able to fire this missile, the size of the torpedo tubes allow it to be fired, they have a bigger tubes for bigger missiles.  "The submarines would have the ability to launch them [missiles] — it's the weapon itself that is the critical part and developing that weapon and navigation system for the guidance from within a submerged submarine is a further challenge."  Peter Roberts says it's difficult to say whether the submarines are distinctly designed for nuclear weapons.    A recent report titled 'German Submarines — Capabilities and Potential', written by Captain Raimund Wallner, and published by the Royal United Services Institute in London, says:  "To sum up, one may say that due to their characteristics of compactness, covertness, sustainability and high combat power, submarines made in Germany are already able to meet the majority of the demands which today's and future scenarios pose to underwater platforms. "They do have their price, but they extend the maritime capability spectrum of the Bundeswehr in a unique way, and thus the military options in the hands of the political leaders…

"And it is no exaggeration to claim that the German Navy today disposes of nothing less than the best non-nuclear submarines in the world."

Last Monday, an emergency presidential decree forced up to 1,500 local government bodies to transfer their excess cash reserves to the Bank of Greece. The measure, which was pushed for by Brussels, has been met fierce resistance in the country. Giorgis Kaminis, the mayor of Athens, said he would fight the confiscation law, attacking it as "unconstitutional".“We’re determined to use all political and legal means we can to repudiate the content of the decree,” the Union of Municipalities and Communities said in statement on Tuesday night. The raid could generate an estimated €1.2bn to €2bn for the treasury by seizing reserves in commercial banks and shifting them to the central bank in Athens. But Greece's labour minister said his government would seek alternative solutions should mayors and local governors resist the measures.  In a further sign of domestic troubles for the Leftist government, approval ratings for Syriza's negotiating strategy have fallen to just 45pc in April, down from 72pc in February. The debt impasse has also seen the country's economic fundamentals degenerate. Figures from eurostat show that 73.5pc of people who were unemployed in Greece in 2014, had been out of work for more than a year, compared with 67.1pc in 2013. Seven out of the ten EU regions with highest share of long term unemployment are also in Greece. Pressure on the government's coffers has grown ahead of a meeting of Europe's finance ministers on Friday. The European Central Bank is reported to have demanded Greek lenders take a 50pc haircut on the collateral they use to access the emergency life support from the ECB.

However, ECB governor Benoit Coeure denied allegations that the institution was "blackmailing" the country, insisting the ECB would continue funding lenders as long as they remained solvent.

This crisis has shown clearly that EU government is corrupt to the core being run by Merkel/Germany by diktat and appointing tax cheating Junker to high office. The EU is clearly nothing more than a service agency there to help the oligarchs and the corporations they own accumulate more wealth and power.  It's apt that The Little Boy Who Cried Wolf is thought to have its origins in Greece - as the present lot there seem to be quite adept at doing the same thing.  In a few days' time the Greeks are due to refund more than a billion Euros' worth of short-term bonds and then, very soon afterwards, give 80 million Euros to the ECB for an interest payment. Now seems a very good time to, once again, throw up the hands and wail, "Oh you nasty, nasty people! How dare you expect us to pay back the money we agreed to borrow."  Of course it's all theatre - Kabuki, really. The Great Fraud of Europe will no more kick Greece out of the club than Greece will volunteer to go. The first one daren't acknowledge that it's possible to leave and the second one couldn't find a more willing bunch of suckers anywhere else...IMF chief Christine Lagarde is being influenced/controlled by her French financial connects. (France and Germany are the key players of the EU.)  The IMF has formed a pact with the EU and ECB instead if being the independent organisation that it was meant to be. The IMF is not making independent rational decisions.  The IMF/Greek fiasco has destroyed the credibility of the IMF as a responsible lender of finances to nations having financial problems.The IMF must be disbanded. It no longer is a responsible organization. YESSS...April 17th could have been a good bet for a selective default (leave it till about 4pm for maximum damage) on the 194 euros owed to the ECB for interest payment. Friday evening.... close down the Bank of Greece. EU cannot enforce a payment against a bank that does not exist. Target2 goes pear-shaped. Without Target2 EZ would be finished as a union. The hedgies attack the following Monday.