tag:blogger.com,1999:blog-7924773307171301256.post993209978525856875..comments2024-03-29T05:51:00.183-04:00Comments on Just An Earth-Bound Misfit, I : Wrong Hashtag, GuysComrade Misfithttp://www.blogger.com/profile/15404477636451308763noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7924773307171301256.post-16488790049424865582015-07-13T10:59:15.296-04:002015-07-13T10:59:15.296-04:00No, the Greek debt that's left is largely guar...No, the Greek debt that's left is largely guaranteed.<br /><br />And some of the lenders who were stupid enough to lend to Greece before 2009 did so because Basel rules pushed them to do so.<br />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.S Ohttps://www.blogger.com/profile/03359796414832859686noreply@blogger.comtag:blogger.com,1999:blog-7924773307171301256.post-9981515689601567232015-07-13T07:43:19.367-04:002015-07-13T07:43:19.367-04:00And if the Greeks are forced out of the Euro, your...And if the Greeks are forced out of the Euro, your bankers will get a 100% haircut. Comrade Misfithttps://www.blogger.com/profile/15404477636451308763noreply@blogger.comtag:blogger.com,1999:blog-7924773307171301256.post-6391234416867839882015-07-13T05:30:14.381-04:002015-07-13T05:30:14.381-04:00Mr Krugman is biased and completely ignoring that ...Mr Krugman is biased and completely ignoring that the Greeks are asking Germany to give German money to Greece.<br /><br />Normally 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.<br /><br />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.S Ohttps://www.blogger.com/profile/03359796414832859686noreply@blogger.com