'Memorandum Macht Frei'. Greece loves The EU/ECB/IMF Fiscal Solution.

[denem]

Last edited Sun Feb 12, 2012, 08:53 PM - Edit history (3)

What's 21% official unemployment got to do with it? How about a 22% cut in the minimum wage?

[font size="+2"]DACHAU![/font] (?taxaoy)
February 10, 2012


Wasn't the EU supposed to bring Europe together?

[steve2470]

1. wow Nazi images associated with Angela Merkel.....

what kind of publication is this ?

[denem]

2. Tabloid Newspaper, February 10, 2012

http://www.politics.ie/forum/greece/181578-angela-merkel-nazi.html

I'd love more information.

[BelgianMadCow]

3. Greece isn't a european problem. The IMF is not an EU institution

and "the problem" is for the entire western world. A Greek default, which is what the people will likely demand, can't be allowed because banksters take a hit. Greece was helped with frauding their way into the EU, their books being cooked by Goldman Sachs. Start to see the picture?

They are the canary in the coal mine.

[denem]

4. The IMF is providing part of the bailout funds IF

the Greeks accept and implement the terms the IMF agreed with the EU/ECB. In Greece they are known as the troika.

IMF asks Greece to cut wages, sees debt deal soon
IMF presses Greece to cut wages, says new rescue deal is due in 'a matter of days'
http://finance.yahoo.com/news/imf-asks-greece-cut-wages-125604319.html

[BelgianMadCow]

6. the negotations on the debt deal have been ongoing "near to fruition" for ages

and now they were included in the vote. That achieves two things:
if Greece said no to the package, thereby choosing default, the private creditors can reverse the ALREAZDY AGREED loss, and
if they say no, they don't just loose 130 billion, but also 100 billion form that"haircut".

Real smart, the troika (=TPTB) and international banking IIF (who was dealing with the haircut). And the timing, an accident? Hmm.

[unblock]

5. a greek default is happening in any scenario. it is a question of how much and what fiscal changes.

the plan on the table involves a a default on 50% of greece's private debt.

the greek people are objecting to it because it's contingent on certain austerity measures.

so it's not a question of default or not.

they aren't paying 100% of their debts no matter what.

[WCGreen]

7. The problem with Greece is that it is essentially a third world economy that was

made to look to potential investors as being just as dynamic as Germany and France.

Greece never had a fully function modern western economy.

Remember, they were under foreign occupation for over a thousand years.

It wasn't until the mid 1800's that they became independent.

What was left was a denuded agrarian economy that depended on tourists and the sale of antiquities.

When the Turks left, they took all their wealth as an occupying force usually does.

The population dropped below one million down from more than two million under the occupation.

Britain came in and took what was left of Athenian public art.

That background has a lot to do with why they are the way they are.

A deep distrust of Government of any kind and a culture built on skirting regulations with the development of a vibrant black market that was incorporated into the culture of government. Kick backs and such.

I know this is superficial but it does explain, to me at least, why Goldman Sachs was able to snooker people into investing in Greek bonds as well as the Greek political leaders went along with all of this.

Conmen dealing with conmen.

[BelgianMadCow]

8. "why Goldman Sachs was able to snooker people into investing in Greek bonds"

and then US ratings agencies start downgrading Greece. And GS has a recordbreaking 2011.

Pure economic warfare, and disaster capitalism.

[WCGreen]

9. Plundering the colony....

In name only...

[BelgianMadCow]

10. part of an earlier (!) bailout package for the Greek was a 50 billion dollar privatisation

water, gas, electricity and ports.

A 50 billion privatisation for a country of 12 million means "give us your country", or close.