Banks to shoulder €37bn in fresh Greek bailout

Banks to shoulder €37bn in fresh Greek bailout

www.euractiv.com

The euro zone attempted to draw a line under Greece’s mounting debt problems yesterday (21 July) as banks holding the country's government bonds agreed to contribute €37billion in a fresh rescue totalling €109 billion until 2014.

(visit the link for the full news article)

A rather marginal contribution if you ask me. Germany and the Netherlands have been pressing hard for their contribution while Sarkozy has repeatedly dismissed such proposals.

However, the author of the article stashed away some very critical and disturbing news in the last paragraph:

EU economic government in the making

French President Nicolas Sarkozy, who agreed to shelve his idea for a €50 billion tax on eurozone banks, said the deal had pulled the euro zone back from the brink of disaster and laid foundations for the creation of an EU "economic government".

"By the end of the summer, Angela Merkel and I will be making joint proposals on economic government in the euro zone. Our ambition is to seize the Greek crisis to make a quantum leap in eurozone government," he said, calling for "bold and ambitious" plans to create an embryonic EU treasury in the form of a European Monetary Fund.

"The very words were once taboo. We will give a clearer vision of the way we see the euro zone evolving. We have done something historic. There is no European Monetary Fund yet, but nearly."

The parliamentarian cooperate puppets work hard to effectuate the demands of the corporate world. It's shocking to see Bilderberg conspiracies turning into reality. We're slowly progressing towards 'one world company' Under the guise of financial stability, the crisis is smartly exploited to centralize more power towards Brussels.

Perhaps a full meltdown of the financial system would benefit the common people in the long-term after all. We are being kept hostage by corporate elites who enrich themselves at our expense.

www.euractiv.com
(visit the link for the full news article)

i heard it was only 17 billion.....
( german news)

Hooray!! WORLDWIDE economic collapse!!

America isn't alone anymore. =)





Naa but for real though, this has to stop...

reply to post by icepack


Dutch media also reports €37 billion (on voluntary basis).

reply to post by Mdv2

(on voluntary basis).

I think that's the key phrase out of this "bail out". I cant see many private banks wanting to stump up that type of money to bail out the greek economy.

That seems to marry into George Osbornes comments that the remorseless logic of Monetary union is greater fiscal union to set the stage for the rise of a new Roman type Empire.

I'm just surprised such a call for greater fiscal union inside the Eurozone is coming not just from the UK but from those in the UKs conservative party...

The banks can easily afford it, otherwise they would not have just been paid £14 BILLION in bonuses..

This whole financial situation is so incredible, you almost could not make it up.

Regards.

reply to post by Mdv2


They're never going to get that money back. That must be the point ...take the country hostage with a loan. They do the same thing all over the globe, with money they don't even have.