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Germany and Greece prepare for greek default.

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posted on Feb, 19 2012 @ 08:46 AM
Germany and Greece are secretly preparing for a greek default, according to an article on ZeroHedge and the Telegraph's Bruno Waterfield.

While the conventional wisdom is that Europe will never let Greece slide into default, Germany has been quietly preparing for just that.

We now learn that Germany is far deeper in Greece insolvency preparations than conventional wisdom thought possible [...] yet it is not only Germany that is getting ready for the inevitable. So is Greece.

- quoted from the ZH article: Germany, Greece Quietly Prepare For "Plan D"

The Greek government should officially declare itself bankrupt and begin negotiating an even bigger cut with its creditors. For Schäuble, it is more a question of when, not if.

"The Greek state has gone bankrupt, let's face it," the conservative daily Kathimerini said in an editorial.

- quoted from the Telegraph article: Germany drawing up plans for Greece to leave the euro.

And here is the link to the Financial Times article Athens rehearses the nightmare of default.
Unfortunately you have to be registered to read the article.

Personally, I have always expected and predicted this. When the numbers turn bad, Germany will put an end to this drama once and for all. Apparently, this point is coming closer.
The greek-german insanity might finally come to an end.
edit on 19-2-2012 by ColCurious because: (no reason given)

posted on Feb, 19 2012 @ 08:50 AM
Looks like Germany is ensuring whatever money they have in Greece will be as safe as can be for re payment. Every other nation can probably say cheerio to there future interests on having lent to Greece.

posted on Feb, 19 2012 @ 09:33 AM
reply to post by Ixtab

The way I see it a greek default is inevitable anyways.
The alternative at this point would be to lend even more money to a state that will most likely go bankrupt anyways.
edit on 19-2-2012 by ColCurious because: (no reason given)

posted on Feb, 19 2012 @ 09:41 AM
reply to post by ColCurious

Well the most economicaly beneficial outcome would be to lend as much as possible to Greece, not out of any real altruism, but money lent is proffit on interest. I dont know about Germany, but usualy the IMF will usualy push for a bailout as much as possible to maximise future proffits.

If they are allowing Greece to default, its clearly beyond repair, the sort of money they probably need to lend Greece is money Greece cannot ever hope to pay back.

Greece will be better for it anyway. Iceland worked out just fine.

posted on Feb, 19 2012 @ 09:58 AM
That was the goal from the beginning. They just put on the whole show to get some cuts approved!

But the real cuts are yet to come. The cuts on our Traitor's bodies! We did it in the past and we will do it again!

posted on Feb, 19 2012 @ 10:09 AM
reply to post by ColCurious

Greece should just do an Iceland

posted on Feb, 19 2012 @ 10:37 AM
reply to post by Ixtab

Yeah, that's what I meant with "the numbers turn bad".
It's no longer economicaly beneficial to pump more money into a state that cannot ever hope to pay back.

The preparations behind the scenes now are about mitigating the damage of the upcomming default.
A default will be for the better of Greece in the long run, although it will be a much worse "nightmare" at first then the austerity measures are now, but at least Greece remains a pride and sovereign nation.

Just look at all the greek-german disputes soaring in the respective medias over the last weeks.
This insanity has to stop now.
edit on 19-2-2012 by ColCurious because: (no reason given)

posted on Feb, 20 2012 @ 01:36 AM
I just noticed that Surrealist already made a thread about this here.

posted on Feb, 20 2012 @ 02:14 AM
?... Greece defaulting was always going to happen.
You cant borrow your way out of debt.

So, the questions..

How much money did europe give greece to survive this long?
Where did that money go?
More importantly, WHO did that money go to.

answer that you get a big indication of who's behind the scenes.

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