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Merkel Changes Stance on Aid to Greece

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posted on Jun, 18 2011 @ 03:46 AM
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Merkel Changes Stance on Aid to Greece


www.nytimes.com

BERLIN — Chancellor Angela Merkel of Germany retreated Friday from demands that private financial institutions be pressured to participate in efforts to rescue the Greek economy, a compromise that seemed to offer some breathing space in Europe’s efforts to confront its potentially ruinous debt crisis.
(visit the link for the full news article)




posted on Jun, 18 2011 @ 03:46 AM
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Her critics in the European Central Bank and in many European capitals had argued that any requirement that private investors absorb some losses risked plunging Greece into a disorderly default on its enormous debt.

But after a two-hour meeting with President Nicolas Sarkozy of France, whose banks are among the most heavily exposed in the Greek debt crisis, Mrs. Merkel relented, saying, “We would like to have a participation of private creditors on a voluntary basis.” She acknowledged, too, that there was no legal way of forcing banks to participate.


I am not sure what I'm more flabbergasted about - the fact that they steadily go ahead stealing from the people or the fact that most people are angry with their respective governments, instead of with the real perpetrators: the banks.

I wonder how much Sarkozy has been paid in bribes for him to change Merkel's mind. "We feel that private participation should be voluntarily". Seriously... I'm about to explode.

www.nytimes.com
(visit the link for the full news article)
edit on 18-6-2011 by Mdv2 because: (no reason given)



posted on Jun, 18 2011 @ 05:53 AM
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As you can see, corruption ( legal word is lobbing i think ? ) has a great power in germany and france. Of course banks just want their money, no matter how great risk they went through.

Luckily smaller countries that are not that much corrupted have a word in european union, and they can stop bailout for greece.

Greece is #ed up in many ways, mainly because 60-70% of population were working for state, 3-4 hours a day with nothing to do, highest pension from all the countries in EU, huge benefits, and the 30% of the country working for private sector had to pay it all from their pockets.

The whole country has to return the debt for living highly above what they could afford, yet they dont want to loose the standard of living and return to live for what they can afford and so they are dragging rest of the Europe with them.

Quickest bankruptcy is the only way, ideally somehow kick them from EU in the process... and mainly no more bailouts, its like throwing money in to black hole...



posted on Jun, 18 2011 @ 06:12 AM
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From what I can see, everything is going marvellously!

The banks and big investors, having screwed everything up, once again are shielded from exposure and will get their money back in full. The governments bleeding money to the big banks and big investors are then forced to sell off / privatise national infrastructure, that the taxpayers own, to corporate "for profit" entities (funded by those same banks and big investors) for a fraction of their true worth. Yep, it's all going rather well.... for some!


Seriously, our politicians are all bought and are doing nothing to protect the wealth of the nations they are supposed to represent, and are bending over backwards to satisfy the demands of the financial crooks.
You'd hope there would be someone with the nuts to stand up and say "not one penny more"! We the people owe you nothing, so take a hike! But, as I said, our politicians, most of them career types, would sell their granny for the chance of getting another rung up the political ladder and the benefits that go with it, courtesy of the big finance lobbyists, for services rendered.
It's corrupt from top to bottom and simply trying to vote out the current incumbents next election has been shown to be a worthless exercise time after time, as the main parties ARE ALL bought and paid for already. The ordinary Joe on the street cannot just step up and run for office, that needs approval, which is why we always get the career boys, groomed for office over many years, ruling over us.



posted on Jun, 18 2011 @ 07:14 AM
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So basically, Germany and the US (thanks to the FED) will pay the bills of Greece.

Nice. Enjoy the rape rape rape rape rape citizen, it's good for you.

Don't you worry, they'll say all day long how ``if we don't save Greece it'll be an economic apocalypse, you'll see tanks in the streets`` just like in 2008...



posted on Jun, 18 2011 @ 07:27 AM
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I don't see any problems here. Greece is a major exporter of Greeks. America, as well as the rest of world, can't run without a steady supply. If the flow of Greeks stops, economic chaos will cause a domino effect and other nations, possibly whole continents, will collapse.

/TOA



posted on Jun, 18 2011 @ 07:35 AM
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Eurozone leaders formally approve Greek aid package



Eurozone leaders have formally given their backing to a massive aid package for Greece, hoping that their show of political resolve will prevent Athens' debt crisis from spreading to other European countries.

“It’s done,” a European Union source said, confirming the leaders of the 16-country single currency group had given their political stamp of approval to an EU-IMF deal to release 110 billion euros ($147 billion) to Greece over three years.




Oh yeah, another 110 billion thrown into the fire. They really want us to revolt, because that's what's gonna happen sooner or later. We are all joining Greece down the drain as country after country won't be able to pay off debts while trying to safe Greece, which is going to default in the end anyway. The bailout package is simply a bandage while the Greek wound starts to bleed faster and faster. Soon, the bandage will need to renewed until they realize that there's no alternative but to let Greece collapse. At that point, hundreds of billions have disappeared into thin air. The markets will collapse as a result and sh*t will really hit the fan.

Oh isn't it ironic that Spain and Portugal are paying billions to keep Greece afloat?

edit on 18-6-2011 by Mdv2 because: (no reason given)



posted on Jun, 18 2011 @ 07:41 AM
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posted on Jun, 18 2011 @ 07:43 AM
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Originally posted by Mdv2

Oh isn't it ironic that Spain and Portugal are paying billions to keep Greece afloat?

edit on 18-6-2011 by Mdv2 because: (no reason given)


Yes and Ireland and Cyprus, Cyprus also being a country that recently applied for financial assistance. The whole thing would be a comedy if it wasn't so seriously damaging. extra DIV



posted on Jun, 18 2011 @ 08:01 AM
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I´m not suprised that Merkel gave in,we know she lacks a Spine...or a Brain. Nothing new. Now i´m gonna stop before i get another Warning for extensive swearing...



posted on Jun, 18 2011 @ 08:03 AM
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Originally posted by Vitchilo
reply to post by Mdv2
 


The IMF gives 30 billion euro... most of that, if not ALL of that will come from US taxpayers money.

In 2009, at the urging of the Obama Administration, the IMF was provided access to additional funding of up to $108 billion which can be used to bailout foreign countries.



That's alright then ! The IMF by my reckoning still have another 78 billion to go - unless it's already been used up elsewhere ?



posted on Jun, 18 2011 @ 08:05 AM
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reply to post by Mdv2
 


This is absolutely no different than the housing/credit problem that has occured in the States and while it certainly does involve bankers who were irresponsible, it is due to one thing and that is the implementation of social policy via monetary policy coupled with purposefully manipulated banking regulations and oversight.

In the US, the government wanted to extend credit to minorities and poor due to disparities in the credit and housing markets and forced banks to give out loans that were not subject to proper credit standards. The government failed to revise the bank's credit/balance sheet requirements to accomodate their being forced to take on bad loans and the engineering of bad instruments was born. This was due to the fantasy of everyone being able to have access to credit to pursue the social policy of home ownership. As soon as home ownership was considered some kind of glorified right, sooner or later this was going to happen. Not surprisingly, now that credit has tightened in the states, the poor and minorities are once again not receiving credit and the government is again, pushing banks to issue more bad loans. Apparently the statistic of having minorities in homes is more important than having a healthy economy/banking system.

In the EU, it was fully known all along that many of the countries that were being targeted for inclusion were never going to meet the fiscal requirements initially stated in the EU charter. Greece, Spain, Portugal and likely Italy were never going to meet the debt to GDP ratios. Under the social/geopolitial notion of a unified Europe, the EU continued to grant extensions to meeting the critera and ultimately let these countries in when in fact they never had the financial health to be a part of a multi-nation union, where some kind of half baked equality among nations was the liberal goal.

The Greeks lied about their financial condition. The bankers knew they were lying as did the political leaders of the EU. Despite those facts, German and French banks continued to buy bad debt, the same way US banks continue to buy bad debt in the housing sector. Now it comes to fruition. The Greeks can't pay their bills because they lied and never were ever going to be able to pay them. The EU at large is caught in their lie of publically stating that the EU construction was solid when it never was.

This is what happens when you use economics to implement social and geopolitical outcomes and infuse both with falsehoods. The European powerhouses, France and Germany were likely to always be the leaders of the EU and as such wanted as large a union as possible. Germany and France wanted Greece, Portugal and Spain in the union because they would have a level of defacto control over them. As a consequence of that quest for power, French and German banks were encouraged to lend money to Greece and buy Greek debt.

Its all turned out well for all concerned as did the policy of pushing banks to give loans to people who were not credit worthy. As in the US problem, all partys are to blame, the government, the banks and the borrower who knowingly take on debt they know they will be unable to repay.

Ultimately the same result will happen in both situations. Bad loans were written off and homes foreclosed on. Ultimately Greece will default and be kicked out of the EU. The steps going on now have nothing to do with the maintenance of the EU, it is all about engineering a soft landing. Once they have this situation under control, the lesser states of the EU will be slowly managed out and the EU will either be smaller, a two tier union or cease to exist. It was the obvious outcome.



posted on Jun, 18 2011 @ 08:10 AM
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If the Greece problem isn’t resolved soon, then the next wave of selling may come and take most everything down with it.
All of this has caused money to temporarily run to the defensive Dollar for the moment. However, if stocks hold here and the euro halts its decline, then the USD will begin to fall again (like normal) But for now, most everything rides on how this Greek situation is handled. The Greek government has to get some serious budget cuts passed to secure the funding from the EU. If it doesn’t get the funding from the EU, then it won’t get the funding from the IMF either.
From our investment point of view, there are a lot of financial assets at crucial levels that need to hold. If one starts to break down, other financial assets may soon follow. It could cause an avalanche if the officials involved don’t handle Greece’s troubles correctly



posted on Jun, 18 2011 @ 08:14 AM
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So, more money is stolen from the people and poured into the private banks. It's a one way street. I wonder if it's a coincidence that this comes straight after the Bilderbastard meetings.I wonder what pressure was put on her to bend.

It should be clear to anyone with an ounce of sense that the banks now rule the world and the governments.

The Zionists are in total control of the money, and in the words of the Most Evil Mayer Amschel Rothschild:

"Permit me to issue and control the money of a nation, and I care not who makes its laws."

And, in fact, that's exactly what he achieved - he issues the money via his private Federal Res, and controls the money through the banking cartel.

And just for good measure, in case anyone thinks this was a slip of the tongue, another quote says almost exactly the same thing.

"Give me control of a nation's money and I care not who makes her laws.

All roads lead back to the banking cartels.

The right to issue the money which was fraudulently handed over to the Fed Res in US and the BofE in UK
MUST be returned to the governments.

EVERY US CITIZEN should be writing to their Rep and ringing them to support Ron Paul in his demands for an audit of the Fed, and writing to Ron Paul to express your support. This is the vipers nest at the heart of all the problems. If you want to do ONE thing to help get this mafia out, you should be doing this. Not to do it is to give your tacit support to the unaudited crimes of the Fed.

Bear in mind that they always tell us what they are doing.

It's SO important that we keep the focus on the banksters and keep raising our voices against this evil, demonic monopoly.






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posted on Jun, 18 2011 @ 08:20 AM
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Originally posted by Mdv2

I am not sure what I'm more flabbergasted about - the fact that they steadily go ahead stealing from the people or the fact that most people are angry with their respective governments, instead of with the real perpetrators: the banks.


I respectfully disagree and think the blame and ire should be directly aimed at the government. The banks are ultimately a creation of, and protected by, the government. BoA, as an example, would never have been able to become the behemoth it is without the government's assistance and willingness to overlook minor discretions....such as improper foreclosure procedures just to name one.

You cannot get to the banks without going through the government first in my opinion. Problem one: the Federal Reserve. As long as it exists, the banks are just store fronts for the government.



posted on Jun, 18 2011 @ 08:23 AM
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reply to post by slidingdoor
 


Well the IMF gave another Greek bailout LAST YEAR... It was 100 billion euro... so how much the US taxpayers helped pay that...

Exclusive: The Fed's $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went

In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!



posted on Jun, 18 2011 @ 08:24 AM
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I was just reading a Dutch article which provides a more comprehensive matter on the situation and confirms why France wants to rescue Greece so badly or rather, why Germany wants to rescue France so badly.

Some translated snippets:


Dutch banks have a total exposure of $5.1 billion to Greece. Simultaneously, Greek banks have some $4 billion in Dutch bonds. The nett loss for our banks would therefore be maximally $1.1 billion should Greece default.

However, what about the other countries? Would Greece pull the other Mediterranean states along if it defaults? Well, not exactly. Spanish, Portuguese and Italian banks are more exposed to Greece than vice versa. But how much would they exactly lose if Greece goes bankrupt? Italy: $3.78 billion, Spain: $722 million, and Portugal $4.4 billion. Not funny, especially not for Italy and Greece, but definitely incalculable.

There's only one reason why they are really worried about Greece, and that reason is France. French banks are most exposed to Greece and have a nett of $60,7 billion in outstanding loans. If Greece goes down, so will France. Previously, it was leaked that Sarkozy threatened to leave the Euro if the EU would decide not to bail Greece out. So basically: to save France.

We can only let Greece collapse by simultaneously let France default too. If Greece is consequently forced to withdraw from the Euro, so will France. Otherwise you will end up with a second Greek scenario in France within a month. If we don't save the Greeks, we should also expel the French from the Euro. Which effectively is no problem. In fact, it's a perfect opportunity. If we throw these two nations out, we'll rid the union of its weakest links and the rest of the Eurozone could finally breathe again.

We wouldn't have to be afraid that Portugal, Spain and Italy would go down the drain if France goes: the French banks have more outstanding loans in these countries than vice versa. That also applies for the Netherlands and as a matter of fact, for all other Euro nations. We could let France default without risking a billion noose.


Not saying I agree with his point of view entirely, but it definitely sheds some light on the situation. It also shows that MSM is utterly useless, but that's no surprise - they are good at failing in providing us with the truth. Useless journalists.

Either way, this is a recipe for doom, because the Euro is not bringing is closer to one another, it's merely widening division. Soon enough, people will be fed up of "being European" and we go back to the old days of protectionism and nationalism - we all know what that lead to in our (bloody) past.
edit on 18-6-2011 by Mdv2 because: (no reason given)



posted on Jun, 18 2011 @ 08:28 AM
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The deregulation of banks has certainly played its part - for what it's worth Moody's and S & P with their trusty (ha!) credit ratings on nations and debts also have a lot to answer for .... they inadvertently, no, make that blatantly! advised investors that these countries and their debts were worth investing in ! They should all be sacked - the lot of them - and heads roll !
edit on 18-6-2011 by slidingdoor because: addition of words



posted on Jun, 18 2011 @ 08:28 AM
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reply to post by Mdv2
 




We can only let Greece collapse by simultaneously let France default too. If Greece is consequently forced to withdraw from the Euro, so will France. Otherwise you will end up with a second Greek scenario in France within a month. If we don't save the Greeks, we should also expel the French from the Euro. Which effectively is no problem. In fact, it's a perfect opportunity. If we throw these two nations out, we'll rid the union of its weakest links and the rest of the Eurozone could finally breathe again.

More like France leaves and the Euro as a currency collapses. Which is good. Break up the EU already.

Don't bailout Greece.



posted on Jun, 18 2011 @ 08:41 AM
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Originally posted by Vitchilo
reply to post by Mdv2
 


The IMF gives 30 billion euro... most of that, if not ALL of that will come from US taxpayers money.

In 2009, at the urging of the Obama Administration, the IMF was provided access to additional funding of up to $108 billion which can be used to bailout foreign countries.



Which means the Rothschild IMF will control all those countries who receive 'bail outs'.

It must be obvious to everybody why the 2008 economic crisis was engineered. It's allowing them to take control of the whole world via bail outs.

Libya, however, is wealthy, but more importantly, Libya has an independent banking system, so another method had to be devised for him.


edit on 18-6-2011 by wcitizen because: (no reason given)



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