Greeks celebrate ECB/IMF bailout, page 1

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Topic started on 3-5-2010 @ 11:56 AM by leo123

www.reuters.com...

by blowing up an HSBC bank in Athens.

[edit on 3-5-2010 by leo123]

reply posted on 3-5-2010 @ 12:05 PM by leo123

More on this topic from Zerohedge:

www.zerohedge.com...

"Zero Hedge will not report on any of today's so-called Greece bailout news, because a) this is not news and b) Greece will still go bankrupt. According to latest polls, 53% of Germans oppose the bailout, with just 39% approving it. Guess what - same thing in Greece: per Reuters, "Opinion polls show the public opposes the measures and more than half of those asked in a recent survey said they would join protests against them." In other news, Greece has just expressed its appreciation of bankers and the European Commission, who as of noon today run the country, by blowing up an Athens HSBC branch. "

reply posted on 3-5-2010 @ 12:06 PM by Agent_USA_Supporter

So does the us dollar celebrate

abcnews.go.com...

I guess the dollar must love bad news
Oh and what improvements in the economy ? i dont see any.

The improvements in the U.S. economy have been outpacing gains in Europe and Japan. The expectation that the Federal Reserve will have to hike interest rates before the European Central Bank, Bank of England and Bank of Japan has also helped boost the dollar versus the euro, pound and yen this year.

The money is aimed at keeping Greece from defaulting on its debts and preventing its financial crisis from infecting other indebted countries just as Europe is struggling out of recession.

funny they mentioned the recession so far i havent seen CNN or any other news networks using the phrase anymore.

reply posted on 3-5-2010 @ 12:42 PM by TV_Nation

I wonder how bad it is going to get in Greece or if things will improve with the bailout...

I have a friend who is supposed to move to Greece for a year and I'm wondering if it's still a good idea for her to go with the way things are going over there.

reply posted on 3-5-2010 @ 12:58 PM by Agent_USA_Supporter

Originally posted by TV_Nation
I wonder how bad it is going to get in Greece or if things will improve with the bailout...

I have a friend who is supposed to move to Greece for a year and I'm wondering if it's still a good idea for her to go with the way things are going over there.

Your friend should have second thoughts my family members in greece just lost there jobs

Hack my family member was in this year winter games of 2010, and still they aren't paying him for what job he did.

Today they called us, and said things arent looking good as they would like, they cant find a job, its even hard to raise a kid in greece, i think your friend should rethink this, but if you asked this 4 years ago, i would say go for it.

But now its best that you avoid.

And no it wont improve with the bailouts.

reply posted on 3-5-2010 @ 01:34 PM by Sinter Klaas

I said this was gonna happen in another thread. Weird.

But what would you expact ? Those Greek are a bunch of passionate people.

reply posted on 3-5-2010 @ 01:39 PM by schrodingers dog

Originally posted by Sinter Klaas

But what would you expact ? Those Greek are a bunch of passionate people.

Yes we are ...

We also invented the concept of "spite" for which our definition is:

If I can't push you over the cliff, I will pull you.

The above is but one of a plethora of reasons the future looks bleak ... and explains the considerable "celebrating" to come.

reply posted on 3-5-2010 @ 01:47 PM by leo123

From Mish - I couldn't have said it better myself.

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Bloomberg:

www.bloomberg.com...

"The objective of the fund will be to ensure that the Greek banks are well capitalized at all times,” Servaas Deroose, deputy director general of the European Commission’s economic and financial affairs department, said in Athens yesterday. “Injections will, as always, be subject to tough conditions.”

The so-called financial stabilization plan is part of an unprecedented 110 billion-euro bailout from the European Union and the International Monetary Fund. The commission, the EU’s executive arm, estimates Greek gross domestic product will shrink about 4 percent this year and by almost half that amount in 2011, before growing in 2012.

“The Greek banking system is actually quite well capitalized,” Poul Thomsen, the IMF European Department deputy director, said in Athens. “But clearly, with this dramatic program, the contraction in nominal GDP, we do expect to see an increase in non-performing loans.”

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Mish

globaleconomicanalysis.blogspot.com...

"Well Capitalized?

The entire global banking system is insolvent. Talk of well capitalized banks at a national level is a joke. The only pertinent question is "What order do various countries implode?"

The market seems to think Greece is a good candidate and I see no good reason to argue"

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USD is going through the roof and 10 year yields are coming off - say no more.