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Greek default!!

 
Anonymous Coward
User ID: 1492966
United States
09/13/2011 03:41 PM
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Re: Greek default!!
[link to www.rtl.nl]

Q: This is really a rock hard signal eh?
Yes, never been so clear about the problems Greek spoken to us through government circles, with springs, everything sits around, the story is clear.

Q: Fred, can you say that the Netherlands is aiming for a Greek bankruptcy?
No, but it is the Ministry of Finance is seen as inevitable. Just say the most likely scenario.

Q: But now it is known that it has a huge impact?
Yes. And that's what I think some of the messages to us intended. From official sources will therefore be immediately denied. This knowledge has already led to crisis meeting in the highest circles.
Anonymous Coward
User ID: 1548354
United States
09/13/2011 03:43 PM
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Re: Greek default!!
I don't see this as a bad thing. The DOW needs to jump down about 11,000 pts.
Frater

User ID: 1193197
United States
09/13/2011 03:46 PM

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Re: Greek default!!
The wealthy see this as an opportunity to own Greece.

"I'll take the Airport." "I'll take those Hospitals."...
LVX!
Anonymous Coward
User ID: 1548363
Germany
09/13/2011 03:51 PM
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Re: Greek default!!
[link to www.zerohedge.com]
Anonymous Coward
User ID: 1516110
United States
09/13/2011 03:54 PM
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Re: Greek default!!
Finally. Took them long enough. Now watch the dominos fall.
Démodé

User ID: 1489794
Serbia
09/13/2011 03:56 PM
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Re: Greek default!!
Berlin prepares for Greek insolvency

German Finance Minister Wolfgang Schäuble is making preparations for a Greek insolvency, according to newsweekly Der Spiegel.
His officials are reported to be preparing for several scenarios that might arise should Athens go bankrupt.

There are two possible outcomes, in the view of the ministry. Either the country stays in the euro zone, or it re-introduces its former currency, the drachma.


[link to www.thelocal.de]
 Quoting: Démodé



from Thread: German Finance Minister: Greek Drachma to be Re-Introduced!!!
BuRn

User ID: 1505703
Belgium
09/13/2011 03:57 PM
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Re: Greek default!!
The IMF will control Greece IF this happens.
Guess who owns the IMF (I mean : who is really in control of the IMF). You should watch the videos in this GLP thread :

[link to www.godlikeproductions.com]

Watch the second video. And then compare with the current situation in Europe...
Deja Vu experience for me....
Celtìbero

User ID: 1542880
Spain
09/13/2011 03:58 PM
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Re: Greek default!!
Apparently It is Merkel who is trying to stop the rumour mill:


“Everyone should weigh their words very carefully. What we do not need is alarm in financial markets,” she said. “There is already enough uncertainty.”
[link to www.ft.com]
 Quoting: IscopeU


Obviously Angela isn't a doomtard...
 Quoting: Slow


She has no other option than to defend her own policy. Her and Sarkozy's credibility are at stake too, as they are the ones who took the leading role in this whole EU soap. Especially after the German Court ruled on the bailout in her favor last week.

In her heart she must realize though that it was already over before this whole circus began. She just can't say out loud yet that her and Sarkozy have been royally fucked the Greek way too.

And Spain and Italy are waiting in line to take her to the next gangbang session.

But you know what the real sad story behind this is? Merkel, Sarkozy and all these so called rulers will not lose their home or wealth on any default. It is the people who are the true gangbang subjects for many years to come.

And that is what makes me mad.
 Quoting: InterMezzo


Having a Large Euro Area Is an Advantage for Germany

by Adam S. Posen, Peterson Institute for International Economics

Op-ed in Die Welt
February 19, 2010

Listening to the current hue and cry over Germany's role in backstopping Greek restructuring, one might be duped into thinking that having the euro extend beyond the core economies was a great mistake. Whatever the balance of economic costs and benefits of euro adoption for other countries, for Germany itself, widespread euro adoption has been a boom. There are many advantages to being the anchor economy for a currency zone from which Germany has benefited over the last 11 years. None of those advantages are imperiled by the Greek situation and all of those advantages increase with the size of the euro area.

First of these advantages to Germany is seigniorage: the public revenues generated when actual currency issued is used outside of the originating area. Throughout Eastern Europe and the Med, as well as in some forms of illicit commerce globally, cash euros are in wide usage—and that translates into hard cash for the German government budget, as much as 0.2 percent of GDP (or 5 billion euros) a year, every year. That usage abroad is much greater, and has more potential for growth in usage, than deutsche mark (DM) usage ever had.

Second, companies doing business in the euro area get to price and invoice most of their transactions in euros without having to worry about exchange rate fluctuations. That applies to both German companies exporting to other euro area members and foreign companies doing business in Germany. Greater certainty reduces transaction costs, lowering costs to the consumer. It also expands trade, creating more variety and competition, also of benefit to the economy's productivity growth. Germany, as the Euroexportmeister, benefits most from this network of stability—and again has a wider and deeper range of trade in its own currency now than it did under the DM. And that means more transactions with producers outside of the euro area are denominated in euros as well, reducing costs and risks there, too.

Third, interest rates for businesses to borrow have been reduced on average. Some of this benefit was felt much more in other euro area economies than in Germany, since Germany already had the lowest risk premia on its borrowing. Still, the significant deepening of euro-denominated bond markets has paid off for many German businesses and households as well by expanding access to credit. That deepening of bond markets is a direct result of the euro's wide adoption including by Germany. This attracts inflows of capital to Europe beyond what came in to just the DM-denominated debt market, which increases liquidity. These gains dwarf any risk premia on overall euro debt that are feared, and may not even come to pass.

Fourth, at least still in prospect, the euro provides a platform for Germany to stand with the Americans, Chinese, Japanese, and now other rising economic powers in international negotiations. Yes, Germany was an original member of the G-5 then G-7, and had often spoken for continental Europe in the late 20th century. Increasingly, however, it will require the weight and legitimacy of the euro area as a whole to have a major voice at the table. In fact, that is an argument for the German political discussion to favor greater European integration in German self-interest. And that begins with how Greece and other "peripheral" economies—including in Eastern Europe outside the euro area—are treated.

Finally, and most importantly for the present situation, Germany benefits directly from the stability that the euro provides to surrounding countries—and that includes from having southern membership of the euro area. Germany gets to run a trade surplus with member countries that otherwise would not be able to afford so many of its exports. People should remember what happened in 1992 and 1995, the last time that other European economies found their combination of demand growth and real exchange rates against the German economy unsustainable: massive abrupt nominal depreciations against the DM, which hammered German export competitiveness and then shocked the depreciating economies. Those were lose-lose situations, and a repeat of such is what the euro prevents.

So the current fevered debate in Germany over a potential contribution to a strictly conditional loan to Greece—which will in any event be fully repaid—is misplaced. The German economy is a beneficiary of being able to run a sustained trade surplus with its European neighbors, particularly in a time of global contraction. It is in the Germans' own enlightened self-interest to provide financing to ease the process of real adjustment in those euro area economies that have overstretched on spending on German goods. That will not only keep the markets open and prevent contraction in growth on both sides of the trade——it will be an investment in the continued attractiveness of the euro area to future members. An expanded euro area remains so much in Germany's direct interest that it is worth financing, if not paying for.
At my scriptorium:
*'The Black Swan' by N.N.Taleb
*'L’Etranger' by A. Camus
*'Beelzebub's Tales to His Grandson' by G. I. Gurdjieff
*'El Laberinto Español' by Gerald Brenan
*'Zen and the Art of Motorcycle Maintenance' by Robert M. Pirsig
Mart Alien
User ID: 1445853
Canada
09/13/2011 04:05 PM
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Re: Greek default!!
another breaking pin news that mean nothing !nothing will came out of it god i am sick and tired of these soo called breaking news threads.. DOOM will come when you least expect it!! and everyone will moan and cry coz they cantrant use their shitty computer to spead shitty rumors. trust me doom will come but it wont knock on your door coz doom is nothing to laugh and wish for! becarefull what you wish for doomtards
rant
Anonymous Coward
User ID: 1548388
Sweden
09/13/2011 04:06 PM
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Re: Greek default!!
All Greece has to do is to print euros like hell and give those newly printed paper money back to the IMF...problem solved! (just joking)
Anonymous Coward
User ID: 1547095
United States
09/13/2011 04:07 PM
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Re: Greek default!!
ahhh
Anonymous Coward
User ID: 1548391
United Kingdom
09/13/2011 04:14 PM
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Re: Greek default!!
They wont let Greece default.

Rothschild doesn't do business like that.
Anonymous Coward
User ID: 1548407
United States
09/13/2011 04:20 PM
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Re: Greek default!!
funny, isn't?

The western world began with Greece and now it will end with Greece.
 Quoting: kphzorz


yes.

now consider...

started with Greece as western world leader

then Rome

then the U.S.

it falls same order...

-
1-greece
2-latin countries Italy, Spain, Portugal ...then Mexico

3-THEN U.S.
Anonymous Coward
User ID: 1273864
Netherlands
09/13/2011 04:21 PM
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Re: Greek default!!
It was leaked because the Dutch government realised that Greece will never be able to repay any of the money it will get.
Considering that most Dutch politicians weren't happy with the aid plan to begin with, this is as an attempt ( with backing of the german banks) to pre-empt a massive waste of money.

The people behind the program the info was leaked too have longstanding very reliable and trustworthy contacts to dutch policy makers.
Anonymous Coward
User ID: 1394135
United States
09/13/2011 04:24 PM
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Re: Greek default!!
GREEKS take back your country!!!
Stop being a hirsute israel!!
Holy Bat Shitman!

User ID: 1213011
United States
09/13/2011 04:24 PM
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Re: Greek default!!
jerkit
Dozens of them. Armed to the teeth. I'm outnumbered. Outgunned. But the alley is crooked, dark, and very narrow. They can't surround me. Sometimes you can beat the odds with a careful choice of where to fight.



[link to batshitman.mybrute.com]
CERAPHIC_DOOM

User ID: 1399457
United States
09/13/2011 04:27 PM
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Re: Greek default!!
ahhhabomb
;)
Anonymous Coward
User ID: 1548416
Argentina
09/13/2011 04:30 PM
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Re: Greek default!!
Does this explain all the body bags shipped to Athens?
 Quoting: Anonymous Coward 1546536


I demand a link!!!
 Quoting: skeptic 1492774


ur such an idiot
Doomamatrix

User ID: 1288564
United States
09/13/2011 04:31 PM

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Re: Greek default!!
Yet the markets did not crumble. Why?
Obamacare: Never has so much been taken away from so many for so few.
Celtìbero

User ID: 1542880
Spain
09/13/2011 04:32 PM
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Re: Greek default!!
All Greece has to do is to print euros like hell and give those newly printed paper money back to the IMF...problem solved! (just joking)
 Quoting: Anonymous Coward 1548388


No its not a joke. Keep the money and do what Argentina did.



"Argentina will suffer the storm in small, which later will ravage the world. Will be an example!" Benjamin Solari Parravicini(year 1938)



Last Edited by Celtìbero on 09/13/2011 04:37 PM
At my scriptorium:
*'The Black Swan' by N.N.Taleb
*'L’Etranger' by A. Camus
*'Beelzebub's Tales to His Grandson' by G. I. Gurdjieff
*'El Laberinto Español' by Gerald Brenan
*'Zen and the Art of Motorcycle Maintenance' by Robert M. Pirsig
Anonymous Coward
User ID: 1548275
United States
09/13/2011 04:34 PM
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Re: Greek default!!
where's this default???

where????

unpin this crap this post is bsflag
 Quoting: Anonymous Coward 1547738


You are just not smart enough to read the truth! The default is "on" - you as a "common citizen" will not be told about the full details of the deal UNTIL AFTER the rich have their money safe and secure...you..me and everybody else in the western world is SCREWED by this hidden default. Notice Merkel said something like "uncontrolled default" - OH, she means they have a "controlled default" in place!
Anonymous Coward
User ID: 1546080
Greece
09/13/2011 04:35 PM
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Re: Greek default!!
Well, it's not news! The problem for them (economic "geniuses") is if the default will be a controllable one or if it will get out of their "hands" and will spread to other countries too...
Anonymous Coward
User ID: 1089924
United States
09/13/2011 04:36 PM
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Re: Greek default!!
Let the Ouzo flow like water, my brothers!
 Quoting: Anonymous Coward 1063137


OPA!!!!
Anonymous Coward
User ID: 1532498
Greece
09/13/2011 04:40 PM
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Re: Greek default!!
Greek... Bulgaria is in crysis from 20 years... but alive :)
live is hard to say... in private sector we have battle for survive...
Greeks in Bulgaria factory exploit bulgarian womens for low money cost and overtime work...

yak
 Quoting: Deamon


we like Bulgarian women. Especially the ones with big tits and no taboos.
Anonymous Coward
User ID: 983137
Netherlands
09/13/2011 04:40 PM
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Re: Greek default!!
Let the bidding begin!

I'm willing to buy Lesbos for 1000,- Euro!
Anonymous Coward
User ID: 1548275
United States
09/13/2011 04:40 PM
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Re: Greek default!!
Well, it's not news! The problem for them (economic "geniuses") is if the default will be a controllable one or if it will get out of their "hands" and will spread to other countries too...
 Quoting: Anonymous Coward 1546080


EXACTLY! Well said! I hope the best for you and the Greek people! The rich banksters ripped off the people...and now they are making sure their "investments" are safe, before they put out a press release that describes the bailout!
Anonymous Coward
User ID: 1548434
United States
09/13/2011 04:46 PM
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Re: Greek default!!
byekitty Greece



 Quoting: Anonymous Coward 1343978


Anonymous Coward
User ID: 1546080
Greece
09/13/2011 04:47 PM
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Re: Greek default!!
Greek... Bulgaria is in crysis from 20 years... but alive :)
live is hard to say... in private sector we have battle for survive...
Greeks in Bulgaria factory exploit bulgarian womens for low money cost and overtime work...

yak
 Quoting: Deamon


we like Bulgarian women. Especially the ones with big tits and no taboos.
 Quoting: Anonymous Coward 1532498


You are rude. I would say to our Bulgarian GLP friend that they do the same thing in Greece too, since a 600 euros salary isn't enough even for renting a flat. Yeah, it is cheaper for them in Bulgaria and many times they move whole factories because of the lower taxes that they pay, not just the cheaper labor. All these factory owners, banksters, entrepreneurs etc are just the same everywhere. Don't expect them to be nice people. They haven't made any money by being nice to people. You won't find a single one of them loving his country (or any other country) and wanting it to be a better place.
Anonymous Coward
User ID: 1548434
United States
09/13/2011 04:48 PM
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Re: Greek default!!
mclinking
User ID: 1519908
France
09/13/2011 05:11 PM
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Re: Greek default!!
The real crisis will happen is when the Greek people say NO to the austerity programme. These corrupt European leaders ride roughshed over their citizens, blaming them for their country's woes, and bleed them white. Well, the day is coming when the peoples of the European continent say 'Enough!' and down tools.
It's only a matter of time before everything unravels.

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