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Greece bailout has failed : EU tells Greece to prepare for bankruptcy

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posted on Jan, 23 2011 @ 03:43 PM
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Suddeutsche Zeitung: EU prepares for Greece to declare bankruptcy

Brussels. According to EU sources in the European capitals it is already running the preparation on Greece to declare bankruptcy, German newspaper Suddeutsche Zeitung announced.
Various options for action are been considering. One option under consideration is banks "voluntarily" to simplify part of the obligations of Athens, according to sources.

Meanwhile, the Ministry of Finance denied preparing an emergency plan for Greece.


We'll see what happens soon enough.... But yeah, the bailouts were never there to ``save`` anyone, just to save the bankers and force the countries to be total slaves to the EU.




posted on Jan, 23 2011 @ 04:01 PM
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The bailouts will last long enough to cover the losses in the major German and French banks, after that the peripheral countries can default when they've no assets left and even more exposed



posted on Jan, 23 2011 @ 04:25 PM
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Of course the Greece bailout will fail. All the bailouts will fail. That's the plan! The American bailout is showing signs it will fail, as well. bailout, the fail, then bailout again, then fail. It will repeat until the time comes when no country has any money. The banks will be broke, and the citizens of the world the poorest ever, save a select few: The elite rich. That's when we being to incorporate North America into one region, (the North American Union), the same will happen with South America. Then Africa is next. After that comes Asia, and the South Pacific nations.
It already started when THEY formed the European Union. How could you people not see this coming? It's all just little baby-steps to a One World Government!
I truly wish I am wrong, but I don't think I am.



posted on Jan, 23 2011 @ 04:37 PM
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Originally posted by moondoggy2
Of course the Greece bailout will fail. All the bailouts will fail. That's the plan! The American bailout is showing signs it will fail, as well. bailout, the fail, then bailout again, then fail. It will repeat until the time comes when no country has any money. The banks will be broke, and the citizens of the world the poorest ever, save a select few: The elite rich. That's when we being to incorporate North America into one region, (the North American Union), the same will happen with South America. Then Africa is next. After that comes Asia, and the South Pacific nations.
It already started when THEY formed the European Union. How could you people not see this coming? It's all just little baby-steps to a One World Government!
I truly wish I am wrong, but I don't think I am.


Lol?

If they really wanted to f the states in the a then they would just stop using the US Dollar as the world's reserve currency.
They formed the European Union to make a common economic zone and make trade within the union more streamlined. There are some obvious downsides to doing this but the goal was to make Europe a more dominant force. The most serious issue was overlooked, which took place as the major sub-prime crisis and the issue of the EU having a common interest rate which doesn't work since each country is in different economic situations.

I really think you need a lot more knowledge of what's going on before you post some insanity and commit an insane number of fallacies.



posted on Jan, 23 2011 @ 04:44 PM
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Found the article, google translated text below link:

www.sueddeutsche.de...

"Plan B" for Europe
EU gears up against the bankrupt Greece
01/19/2011, 18:30

By Claus Hulverscheidt and Cerstin Gammelin

Perhaps banks and funds are in the event of an imminent bankruptcy without "voluntarily" to a portion of their claims.

The EU countries are preparing the case prior to that Greece , despite all savings efforts but has yet to file for bankruptcy. According to the Süddeutsche Zeitung is a subject of discussion among other things, whether the banks "on a portion of their claims against the government in Athens could give voluntarily." Decided that's not enough.

Greece is currently undergoing a strict austerity program and receives a large scale loans from the Euro-partners and the International Monetary Fund (IMF). According to the official version, this drastic times lead to Athens, interest and principal in a few years will easily be able to pay and the financial market new loan replaced.

This position also represents the federal government in Berlin. From among the EU countries, however, rumored that there is a growing number of experts, who feared that Greece's debt load itself will not be able to lift, if it successfully completes its austerity program. Also circulating in the financial markets, such a scenario, as the very high risk premiums Greek government bonds with two years showed maturity.

In the capitals of the EU will present a "Plan B" discussed. It would allow the Greek government to buy back bonds issued by it at a discount, for example, 20 percent of the nominal value. The securities are being traded on financial markets with some even lower rates.

The owners of the bonds, therefore, primarily banks , insurance companies and investment funds, may wish to consider therefore whether they contain or repel a loss of hope for better times to keep in want. In this case, they were however a risk that higher loss of suffering still. To pay for the bond purchases, can the Greek government would receive more loans from the stabilization fund EFSF, the Commission, the Euro countries and the IMF have established the EU.

A spokesman for the Ministry of Finance rejected the reasoning and stated that the participation of private creditors in debt restructuring state was only for the period after mid-2013 planned if the EFSF was replaced by a new one, then permanent shield. However, the statement is only apparently in contradiction to the current discussion: When the new screen is effective, namely to finance houses can be the first time urged to forgo part of their claims. "In the discussion here, Plan B is' on the other hand it is a voluntary waiver," it said in the circles.

The government in Athens had brought the idea of a debt restructuring itself into a conversation on Tuesday. Although rejected Deputy Prime Minister Theodoros Pangalos called off a haircut, a claim so average. However, at the same time he proposed to postpone principal and interest payments on bonds.

During the deliberations, as the current screen is improved and a permanent European stabilization mechanism can be established, it is also about the repayment terms for loans to Greece. The recent Luxembourg Prime Minister Jean-Claude Juncker after a meeting of EU finance ministers have confirmed. Similar discussion is also in the case of Ireland. A EFSF spokesman declined on Wednesday not comment on the discussion of voluntary debt reorganization.



posted on Jan, 23 2011 @ 04:51 PM
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Greece declared bankrupt and looks like the Irish Government is about to collapse completely.

Five cabinet ministers resigned, PM quits as leader of his own party, and coalition pulls out of Government, all in the same week.

Of course bailouts for nations don't work, only austerity measures do.

Coming soon to Portugal, possibly to Spain and Italy, possibly to the USA, almost definitely to Tunisia.

Nations crumbling gives a big advantage to folks behind NWO.



posted on Jan, 23 2011 @ 04:54 PM
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It's been expected. Unlike United States, printing of Euro paper money is not centralized. The Euro printing jobs are being done in many European countries and constantly being monitored. Thus, there is almost no room for "unaccounted" or missing money.



posted on Jan, 23 2011 @ 05:46 PM
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Iceland seems to be the model to follow. No bailouts. No IMF. Let the banks hit the ground. Restructuring, regulation and arrest of bankers...it's a recipe that seems to be working for them.



posted on Jan, 23 2011 @ 06:15 PM
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Originally posted by wcitizen
Iceland seems to be the model to follow. No bailouts. No IMF. Let the banks hit the ground. Restructuring, regulation and arrest of bankers...it's a recipe that seems to be working for them.


well said it seem the correct thing to do. But i wonder if that would work somewhere like the uk, most of the monety here is made through the banking sector. what happens when you bite the hand that feeds.



posted on Jan, 23 2011 @ 08:49 PM
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Originally posted by purplemer

Originally posted by wcitizen
Iceland seems to be the model to follow. No bailouts. No IMF. Let the banks hit the ground. Restructuring, regulation and arrest of bankers...it's a recipe that seems to be working for them.


well said it seem the correct thing to do. But i wonder if that would work somewhere like the uk, most of the monety here is made through the banking sector. what happens when you bite the hand that feeds.


The banks always take more than they give, UK would survive, adapt and become a better place.



posted on Jan, 24 2011 @ 12:34 AM
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I defiantly agree that Iceland has got it together. I remember hearing about Greece a while ago and they where debating if to let the IMF in or not. Seeing that the IMF are now in Greece explains a lot about the troubles going on. They would not have to have done much homework to realise the long term devastation the IMF does, they are like loan sharks for nations and have left a lot of damage in their wake. To think plan B is a blessing is just the banks drawing out the suffering. The banks know Greece has no more to give so they just give it a little life support with some interest reductions and can keep sucking the nation at a latter date. This whole bank game of 'head I win, tails you lose' needs to end if Greece and the other nations are to sort this mess out.
edit on 24-1-2011 by kwakakev because: added heads and tails



posted on Jan, 24 2011 @ 01:02 AM
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Originally posted by purplemer

Originally posted by wcitizen
Iceland seems to be the model to follow. No bailouts. No IMF. Let the banks hit the ground. Restructuring, regulation and arrest of bankers...it's a recipe that seems to be working for them.


well said it seem the correct thing to do. But i wonder if that would work somewhere like the uk, most of the monety here is made through the banking sector. what happens when you bite the hand that feeds.


I just had to laugh when I read your response lol. Bite the hand that feeds
you crumbs, table scraps and if you are lucky bones? Start chompin I'd say



posted on Jan, 24 2011 @ 01:06 AM
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NEWS FLASH: Money has no real value.
duh.
Activate Venus project.



posted on Jan, 26 2011 @ 03:31 PM
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Originally posted by _SilentAssassin_
NEWS FLASH: Money has no real value.
duh.


God I get tired of reading this overly simplistic opinion everywhere I turn. Money has a very real, very tangible value so long as it is accepted in exchange for goods and/or services. The exchange rate may fluctuate, but until the exact moment comes when nobody can walk into a grocery store with their money and walk out with purchased groceries, money most certainly has value.

I mean let's be real honest here, almost every foundation the "Money has no real value" argument is based on is fatally flawed.
1. "money isn't pegged to gold"... OK, and what makes gold valuable in the first place? It, like money, is just a thing with a particular scarcity which translates a value to it. They may not be making any more of it (unlike money), but you never know when the world's largest lode will be discovered, the market saturated, and the value dropped.
2. "you can't eat money, be sheltered by money, or defend yourself with money." OK, true enough, but you can trade money for all of these things TODAY. Prepare for the future, but live in the present. Furthermore, if you applied those criteria to everything else in life, things like art, music, non-facilitative literature (read: anything other than survival and how-to books), most electronics, and virtually all gadgetry has no real value and should be rejected by the elevated individual.

A society going money free may seem like a candy rainbows and floral farts dream, but realistically it would be a nightmare. We have a growing population, finite resources, and growing demand. For a $1 loaf of bread in 1980 to still be $1 today, 31 years later, you'd have to realize that the baker would be paid less, the store would make less profit (likely even a loss), and that $1 would represent a greater hardship on the buyer as it did in 1980 because they, too, would be sitting on a lower income as well. Why? Easy answer is that as population grows, demand grows, supply shrinks. The only way around this, the only way to keep supply even with demand, is to either increase prices to reduce demand, or increase supply under the restrictions of cost... meaning everybody takes a generous cut in compensation because they would be producing more for the same amount they were paid 31 years ago. (and this is very simplistic... I've completely avoided the very real fact of the impact of resource shortages on unit costs.)

Thus, we have a monetary supply which MUST be affected by inflation, valuation, and constant adjustments. I am NOT saying I believe the PTB have even remotely handled the world's monetary policies wisely, because they haven't. They have demonstrated that they have their heads up their rears and their pockets lined by big business at every turn. By the same token, just because somebody played a Vanilla Ice CD on your sterio doesn't mean you should chuck the player, amp, and speakers out the window.



posted on Jan, 26 2011 @ 03:42 PM
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Originally posted by burdman30ott6
1. "money isn't pegged to gold"... OK, and what makes gold valuable in the first place? It, like money, is just a thing with a particular scarcity which translates a value to it. They may not be making any more of it (unlike money), but you never know when the world's largest lode will be discovered, the market saturated, and the value dropped.


Somewhat true, but the real point of pegging money to a scarce metal like gold is that it's a bit of assurance to people that no one can come along and print up 100 kajazillion dollars. If there is no peg, there is no assurance that this won't happen.


Originally posted by burdman30ott6
2. "you can't eat money, be sheltered by money, or defend yourself with money." OK, true enough, but you can trade money for all of these things TODAY. Prepare for the future, but live in the present. Furthermore, if you applied those criteria to everything else in life, things like art, music, non-facilitative literature (read: anything other than survival and how-to books), most electronics, and virtually all gadgetry has no real value and should be rejected by the elevated individual.


Of course all the things you mention have real value, I'd much rather read Tolstoy than a worthless green rag wouldn't you?



posted on Jan, 26 2011 @ 04:05 PM
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Originally posted by SevenBeans
Of course all the things you mention have real value, I'd much rather read Tolstoy than a worthless green rag wouldn't you?



Actually, I'd rather have the "worthless green rag" which I can trade at a store for some fly tying materials, or a bottle of vodka, or something else to take my mind off the inane background noise of the world. My point wasn't that Tolstoy has no value, it was that Tolstoy has little trade value to get me from holding a book in my hands to holding something I have traded said book for which I wanted/needed more. Money, on the other hand, is the accepted vehicle of transaction which I can most easily go from point A to point B through. Some may despise the current system and may have legitimate beefs with it, but so long as it is the universal system it is foolish to say money has "no value."




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