DU cheers Greece slitting its own throat over debt

[BannedFromDU]

hack89 (13,896 posts)

 
Germans warns Greece: no cuts, no aid

Source: Reuters

Leading German politicians warned Greece on Tuesday that the country would not receive a cent more aid unless it fulfills all the conditions of its international bailout.

As Europe's largest economy, Germany has contributed the biggest share of the financial guarantees under Greece's bailout, which is paid out in installments on the condition that Athens meets specific savings goals.

Greece must push a new round of spending cuts through parliament next month to qualify for an 11.5 billion euros aid installment that it needs to avoid bankruptcy. The post-election deadlock has raised questions about whether that timeline can be met.

Read more: http://www.reuters.com/article/2012/05/08/us-europe-elections-germany-idUSBRE8470QQ20120508


I accept Greece's right to do what they think is in their best interest. I also understand the German taxpayers desire to put conditions on any money they give Greece.

This is going to be a bumpy ride for the next month or so.

Too many Marxist bullshit posts to sift thru, so I will give you the gist: Germany is telling Greece they won't get more money unless they make cuts. The Greeks may tell the Germans to pound sand. The Germans (who are suddenly Nazis again when just a few months ago Germany was DU's Country of the Month) won't belly up any more cash, with the end result being that the gyros-sucking Greeks are going to have austerity whether they like it or not. The genius economists on DU seem to think Germany should lend money in perpetuity.

By the way, this is how the US will eventually suffer when our debt payments are 70% of GDP thanks to B-Hole 0bama. I wonder what our new currency will look in 2035, when hyperinflation renders the greenback worthless.

[EagleKeeper]

Greece, France, Spain, Portugal, Italy.

If I was living in Germany I'd tell them all to GTFO.

[thundley4]

Greece, France, Spain, Portugal, Italy.

If I was living in Germany I'd tell them all to GTFO.

More like tell them to STFU and GTFBTW.

[BannedFromDU]

Greece, France, Spain, Portugal, Italy.

If I was living in Germany I'd tell them all to GTFO.

      Unfortunately, the world cannot afford Germany getting sucked down the drain by worthless socialist countries like Spain and Greece. Otherwise I would love to watch all of Europe sink into oblivion and ask DU how it all happened, when they're so "progressive."

[miskie]

Too many Marxist bullshit posts to sift thru, so I will give you the gist: Germany is telling Greece they won't get more money unless they make cuts. The Greeks may tell the Germans to pound sand. The Germans (who are suddenly Nazis again when just a few months ago Germany was DU's Country of the Month) won't belly up any more cash, with the end result being that the gyros-sucking Greeks are going to have austerity whether they like it or not. The genius economists on DU seem to think Germany should lend money in perpetuity.

I'd like that to be true - HOWEVER - I can guarantee that the Greeks (and soon the French) are going to petition the IMF for cash. Which means WE are going to get to pay the lion's share of Greece's debt.

[jukin]

All is well!!  The EU zone is sound financially and Greece will be fine!

The Greek Butt ****er 1 Year Bond is only up 12% today at 1,143%. The bond market saw this coming months ago when all the eucrats were touting their fantastic plan to save Greece.......and the eu.

Greece Govt Bond 1Year Yield
Add to Portfolio
GGGB1YR:IND
1,143.11900 UP 122.35100 11.99%

As of 03/09/2012.
http://www.bloomberg.com/quote/GGGB1YR:IND

[BannedFromDU]

I'd like that to be true - HOWEVER - I can guarantee that the Greeks (and soon the French) are going to petition the IMF for cash. Which means WE are going to get to pay the lion's share of Greece's debt.

     I don't think even the IMF is THAT stupid. China might like another warm water port - maybe they can lend a few billion euros so Petros Dontwannaworkopoulos can drink coffee and smoke all day.

[miskie]

     I don't think even the IMF is THAT stupid. China might like another warm water port - maybe they can lend a few billion euros so Petros Dontwannaworkopoulos can drink coffee and smoke all day.

Hopefully Obama's influence is gone before that petition can be filed. Else I fear the IMF will be that stupid.

[BannedFromDU]

Hopefully Obama's influence is gone before that petition can be filed. Else I fear the IMF will be that stupid.

     I fear you are correct. I hope Greece at least sends my kids a saganaki and some dolmas for their hard work.