Try: #ThisIsAnInvasion. Paul Krugman thinks that the Euro, in the long run, will be doomed because of German intransigence.
The EuroBanksters and Merkel have, essentially, declared economic warfare on Greece. Every other county in the Eurozone had better wake up to the reality that Germany views the Eurozone as their economic empire. The Greek people didn't like it, so now the Germans are going to stomp them into the dirt for daring to believe that they had any degree of independence from the dictates of the
Bottom line: The Euro currency has gained, temporarily, for Germany what its Panzers could not.
Update: Infidel753's Euro-flag.
Mr Krugman is biased and completely ignoring that the Greeks are asking Germany to give German money to Greece.
ReplyDeleteNormally when someone is asking for your money you get something for it. Germany doesn't get anything for its money from Greece (the guarantees were given without any fees, for example), so Greece can at least pledge to stop doing the shit that brought it to bankruptcy.
Whether the conditions are wise or not is a different question, but Schäuble/Merkel are driven by the need to delay the revelation that they sank billions of German taxpayer money on the Greek crisis at all. So far they kept it a theoretical loss, not a real one. Their days in power are counted if they need to tell the Germans that they wasted 30-90 billion Euros on Greece. Thus no haircut this time.
And if the Greeks are forced out of the Euro, your bankers will get a 100% haircut.
ReplyDeleteNo, the Greek debt that's left is largely guaranteed.
ReplyDeleteAnd some of the lenders who were stupid enough to lend to Greece before 2009 did so because Basel rules pushed them to do so.
Life insurances were heavily engaged as well - they aren't free to invest in risky assets, but the worthless piece of shit rating agencies didn't rate Greek bonds properly.