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Europe plans for 'inevitable' Greek default

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posted on Feb, 20 2012 @ 03:57 AM
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Europe plans for 'inevitable' Greek default


www.vancouversun.com

Plans for Greece to default on its debts and possibly pull out of the common euro currency have been drafted in Germany as the European Union faces up to the fact Greek debt is spiralling out of control, with or without a the bailout now under negotiation.

The German finance ministry is pushing for Greece to declare itself bankrupt and to agree to a "haircut" on the bulk of its debts held by banks, a move that would be classed as a default by financial markets.

Eurozone finance ministers meet today to approve the next tranche of loans from the EU and the International Monetary Fund, de
(visit the link for the full news article)


Related News Links:
online.wsj.com

Related AboveTopSecret.com Discussion Threads:
Greece Default Closer Amid Warnings Of “Social Explosion”
Greek default is inevitable
Greece Default Risk Jumps to 98%




posted on Feb, 20 2012 @ 03:57 AM
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Seems like this is just continuously rehashed. I'm posting only because this article is saying that plans are actually being drawn up to have Greece pull out of the Euro.


Plans for Greece to default on its debts and possibly pull out of the common euro currency have been drafted in Germany as the European Union faces up to the fact Greek debt is spiralling out of control, with or without a the bailout now under negotiation.

Read more: www.vancouversun.com...


We have been listening to this stuff over a year now, I hope they just do something so the world doesn't have to put up with the annoying drama.

It's going to happen, make it happen. Seems like the people behind the curtain are just arguing who can make the most/ lose the most money, out of the whole thing.

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



posted on Feb, 20 2012 @ 04:32 AM
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reply to post by boncho
 


I've read Greece may default as early as this spring. Some are saying this summer.

I wonder what the full effect of this is going to be. Greece has been either one of the poorest or the poorest country in Western Europe for the last 30+ years.

If Greece drops the Euro, will other other countries follow? Portugal? Spain? Ireland? etc.



posted on Feb, 20 2012 @ 05:11 AM
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reply to post by boncho
 


Looks that way after all they have raped Greece of all they can so the have to cut them loose.

Only one country as really gained from the euro and that is Germany one has to think did they win WW2 in secret.
Who's the richest in Europe who's making all the decisions Germany they own Europe not one shot fired in this economic war that is.
Just glad England didn't join the euro but we are still a sinking ship it's all coming down no matter where you live there is no safe place."RANT OVER"

Thanks



posted on Feb, 20 2012 @ 05:46 AM
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In January, Wolfgang Reitzle, the CEO of industrial gases producer Linde, said Germany may need to leave the euro zone itself since popular support for rescuing the currency "will evaporate as soon as German citizens have to pay taxes of more than 50 percent to finance the other euro countries."
reply to post by boncho
 


SOURCE

Read last sentence of source link....

In my opinion, after Greece falls, others will follow suit so fast that I'm sure Germany will bail to save its own behind..



posted on Feb, 20 2012 @ 05:47 AM
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Originally posted by mars1
reply to post by boncho
 


Looks that way after all they have raped Greece of all they can so the have to cut them loose.

Only one country as really gained from the euro and that is Germany one has to think did they win WW2 in secret.
Who's the richest in Europe who's making all the decisions Germany they own Europe not one shot fired in this economic war that is.
Just glad England didn't join the euro but we are still a sinking ship it's all coming down no matter where you live there is no safe place."RANT OVER"

Thanks


Yup, that's pretty much it. UK knew what was up. The EU has two subsections- the core, and the periphery. The core countries (Germany, France, etc) are the leaders of it. The other countries were expected to either submit to their hierachy, or be forced into it through austerity measures (aka neo-liberalization of weaker states for the expansion of the larger ones).



posted on Feb, 20 2012 @ 06:07 AM
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reply to post by Dimitri Dzengalshlevi
 


Except France and Germany are no longer singing from the same hymn sheet - and when Greece goes, France is so badly exposed that it will be in serious danger for the first time. And if that happens, i can see bitter recriminations from the French that the Germans aren't prepared to pay for everything anymore - good on them i say!

Should form a new union with us and the Scandinavians (and Dutch).



posted on Feb, 20 2012 @ 06:15 AM
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reply to post by Flavian
 


Star for you


That is so true I think Germany will squish France that's why I said Germany owns Europe France only thinks they are partners
Are they in for a shock time will tell.

Thanks



posted on Feb, 20 2012 @ 06:35 AM
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reply to post by mars1
 


Silly French, thinking that by being in power positions politically in Europe would give them a far reach. History shows us those that control the purse strings really run things.



posted on Feb, 20 2012 @ 03:26 PM
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Originally posted by Flavian
reply to post by Dimitri Dzengalshlevi
 


Except France and Germany are no longer singing from the same hymn sheet - and when Greece goes, France is so badly exposed that it will be in serious danger for the first time. And if that happens, i can see bitter recriminations from the French that the Germans aren't prepared to pay for everything anymore - good on them i say!

Should form a new union with us and the Scandinavians (and Dutch).


You're right, France and Germany on not on the same page. That is their own nationalist views. They united together for the sake of the EU because the EU would open the doors to economic, political, even military expansion into other european countries. When the EU starts to take from them, they will no doubt pass the buck.

The division between France and Germany was apparent during the Libya deal. The French basically started it, and the Germans pulled out immediately. I guess the French saw the opportunity for expanding its empire through Libya while the Germans decided to sit back and further secure its hedgemony among the EU.



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