GREEK ELECTION: The fate of the euro is NOT in Greece’s hands

The eurozone is doomed whatever happens in Athens

‘Greeks went to the polls on Sunday in an election that could decide whether their heavily indebted country remains in the euro zone or heads for the exit,’ opined Reuters this morning. I do wish the MSM (especially in the States) would stop writing half-baked bollocks about the Greek elections. If Greece leaves the euro next week following today’s election, it will be because other forces want it out, not because the Greeks themselves want to leave.

The percentage of Brits wanting to leave the EU is almost double that of Greeks who want to leave the ezone. The only difference between the Syriza Party led by Alexis Sipras and the former leading Greek Parties in 2012 is  that he wants to renegotiate the scorched earth austerity insanity imposed by Sprout & Kraut GmBH of Berlin-am-Brussels. That’s it. But Sipras represents The Resistance as far as the Fuhrerin is concerned, because he dares to suggest that her economic ‘policy’ is devastating the entire ClubMed area. He should dare a little further and suggest that she’s a complete Dummkopf.

All last week, trading houses across the West and in Asia were giving their staff detailed briefings on accepting any trades beyond a certain size “because of the turmoil that will follow if Greece votes to leave the eurozone”. Do these ‘analysts’ ever read any briefing notes past the first paragraph? Two things are obvious about the Greek election: first, it is highly unlikely to the point of near-impossibility that any Party will win a majority, or cobble together an anti-austerity Government – another stalemate is still the odds-on probability; and second, it is a General Election, not a referendum.

In turn, there are three certainties about the eurozone: first, it has lost all bond market credibility; second, its economy is at a near standstill outside Germany, thus exacerbating its imbalance problems with every day; and third, there is no way it can bail out Spain, Italy and France….all of which it would have to do in order to arrive at a Fiskal Union not entirely peopled by the inmates of a debtors’ prison.

The eurozone will leave the stage before Greece leaves the eurozone.

A month ago, the MSM thought the French election was more important than the Greek one. They were wrong. Now they think it’s the other way round. They’re wrong again. Today’s Athens count will tell us little or nothing we don’t know already. If, however, Francois Hollande wins a majority in the French Assembly, he will take to the next EU summit on June 28th what he can present as the popular will of France in favour of growth actions and eurobonds in order to calm the markets. Angela Merkel will then find herself between a rock and a hard place – especially as by then, Spain’s need for a full bailout will have come to light, and Italy’s bonds will be spiking up towards the Suicidal Seven too.

Forget the Greek election for a while, and focus instead on what will be a far more significant event: full Greek default, bailout or not, unless more bailout monies are poured in, and pretty damn quick. Both Berlin and Washington know for sure this is coming. The White House especially would like that one out of the way well before November; and the Merkeschäuble would prefer the Greeks to be out of the ezone when it happens. They won’t be: but what the gargoyles want tells you everything you need to know about what they’ll try to get.

93 thoughts on “GREEK ELECTION: The fate of the euro is NOT in Greece’s hands

  1. That absolutely sums it up JW. This is just another match in the Great 2012 Euro Can Kicking Compeition. It just wnot be as much fun as the possibility of Greece meeting Germany on the Ukranian fields.


  2. IMHO,the problem lies in the terms inflicted on the Irish taxpayer, who are supposed to pay off over a generation all their bank debt( haircut).You cannot rebuild Greece or any where else without a haircut.


  3. Sorry to be somewhat of a pedant but its Alexis Tsipras. That apart the article sums things up rather well. Not that listen to such arguments here on Crete where they are for the most part staunch PASOK supporters.
    Either way it all boils down to a rock and a hard place scenario where no one will be left untouched….just depends on how pissed off they are when they vote as to how quickly it all happens.


  4. Absolutely correct ! I am fed up to the eye teeth of MSM reporting this as a ‘referendum on the Euro’. It is nothing of the sort and seems to be mere propaganda to enourage fear among Greek voters that they will have to leave the EZ – which apparantly they do not wish to do. Thus the EU top banana’s attempt to enforce the auserity measures demanded by Brussels rather than have any alternative position to have to deal with.

    One has to wonder if the vision of Stock Brokers in the ‘great crash’ will see the EU Leaders attempting to fly without wings as their vision of EUtopia crashes around OUR ears. One has to admit to feeling a tad excited by this prospect………….but not the suffering of the Greek (and other ‘people’ brought on by these Kleptocrats).


  5. I agree with everything you say, John :-)
    What we’ve seen over the past few weeks is nothing less than a relentless campaign by the EU elites to scare Greeks into voting for a pro-austerity party – ie ND – and they’ve ignored that it’s wrong to interfere in the domestic politics of a sovereign country. I have little doubt it’s had an effect, but exactly how much we will have to wait and see. And of course MSM is doing what it always does: mindlessly giving air to what the elites are saying.
    Even if ND become the largest party and somehow manage to cobble together a coalition government, none of that will solve the EZ crises. No way. The crises has now moved on to Spain and then Italy & France. The EZ is an empty can being kicked down the road for political motives.


  6. What I find ever so slightly disturbing is how, almost by default, ‘Germany’ has quietly succeeded the ‘EU’ as the final arbiter on matters European. There are many other countries whose views are supposed to be represented in all this turbulence, but we don’t seem to hear much from the Polish Finance minister for example, or the Dutch European minister or Hungarian PM … it’s always Mutti this and Mutti that.

    Now call me Old Mr. Simpleton if you will but I think that’s a bit thick. If all the little countries all stood together and told the Germans to stop farting in church for a bit, a valuable period of proper consultation could ensue, and, forgive me, the Teutonic κεφάλι σκατά would have to listen.

    But then, as I am constantly reminded, I tend not to see the bigger picture, so I’m probably best ignored :-)


  7. You cannot be serious when you say that the economy of the EZ is ‘at a standstill’.

    It is far, far worse than that. It is contracting by almost every measure, including money supply and production.

    Or did you mean that there was no economic activity at all any more? (Which may well prove to be the case when the true figures escape in a year or so….

    No mention either of the recent statements of great wisdom from Incapability Brown?


  8. Dead right starting with your headline JW. The core of the problem is US Treasury bonds. Greece holds hooky paper from everywhere. Try as he might, Tiny Tim Geithner hasn’t been able to bring them back into balance with the 0% rate cratering the economy over there and they’re screwing southern Europe to keep it under cover. Tiny supports Germany so that’s another reason the Greek Euro exit won’t be a local choice. The reason?

    Don’t know if you caught this from Bloomberg;

    “In the millions of words written about Europe’s debt crisis, Germany is typically cast as the responsible adult and Greece as the profligate child. Prudent Germany, the narrative goes, is loath to bail out freeloading Greece, which borrowed more than it could afford and now must suffer the consequences.
    Would it surprise you to know that Europe’s taxpayers have provided as much financial support to Germany as they have to Greece? An examination of European money flows and central-bank balance sheets suggests this is so.”

    Sorry for the comment length and

    Kudos ;-)


  9. So true JW.
    With real Greek debt at 456% of gdp, default is certain.
    When ,not if.
    The real stories are Spain,Italy and France.
    Having had the misfortune to have a business go bankrupt once,
    (as a result of the Iraqi invasion of Kuwait)I was amazed how
    long it took.Dragged on a year,then it all fell apart in two weeks.
    The pace in the EZ is about to pick up fast.
    My guess is September/October this year.


  10. Caratacus

    “told the Germans to stop farting in church for a bit”

    Their problem is that the Germans would stop coming to church and the collection plate would be somewhat shorter of the readies – and they know it.



  11. Fear will probably ensure that the vote goes the EU way. News flash to the Greeks; either way you are screwed, the only difference is, if you throw off EU’r shackles you can start to build again, regain your self respect, else welcome to serfdom.
    Either way, the days of milk and honey are gone. No more cheap credit, no more German cars, no more retirement at 58, no more 13 months pay per year, no more easy tax evasion, permanent reduction in wages (if you are lucky enough to find a job), get the picture? The only question is you either accept this as a price worth paying for you children and for your country or you accept this as instructed by your lords and masters, none of whom are Greek.

    As an aside, when are the Irish going to grow a pair? Then again, maybe the don’t want a pair and actually enjoy getting royally screwed over….and over…..and over again.


  12. “Antonis Perris was a devoted son. When his elderly mother was diagnosed with Alzheimer’s four years ago, there was no question of putting her in a state facility.

    He would care for her at home in Athens and they would face the future together.

    But then things started getting very much worse.

    ‘The problem is that I was not prepared when the economic crisis hit and I do not have enough money in my account,’ wrote the 60-year-old unemployed musician.

    ‘My credit card is overdrawn, we do not have enough food to feed ourselves. I live a drama with no end. Does anyone have a solution for me? World leaders, you who brought this financial crisis, you all need hanging!’

    Perris wrote of his despair in an internet chatroom three weeks ago. Then, one morning, he led his mother on to the roof of their five-storey apartment block. Hand-in-hand, they jumped off.”


  13. The Slog’s article is very accurate – especially where describing the possible outcome of elections. As for the euro cup, if Greece meets Germany…rumour has it that Merkel has put a new term about this match on Greece MoU-3 :-)


  14. For creating this obscenity alone the EU socio-psychopaths should be hung, drawn and quartered, and then some! Poor poor man who wanted to do the best for someone he loved, who loved him. And the best he could do was kill her and himself. I hate, loathe and despise the EU, the people who support it, everything it has done to Europe and to our little island (helped by the morons in government for the last 50 years). I hope some of my hatred somehow affects these vile and evil people and helps to destroy them.


  15. Spot on BT! as for the “advise” to Greek voters coming from German and other MSM, either they know nothing about the Greek psyche, or they do know very well…Greeks (especially the young) usually react to threats and finger pointing but doing the opposite thing…I can yell you what the effect has been: sending more young voters to the left and anti-MoU parties.


  16. Just came back from Athens center, where i went to vote. If you want your 15min of publicity, all you have to do is take a 10min stroll at Athens center. There’s so many foreign media here – for a moment i got confused if i am in the correct country!


  17. In my mother’s village (Crete). the elders use a specific wish which aligns very accurately with JW’s previous article on NHS. It’s used to curse somebody on being mean and evil, and goes like:
    “May doctors and lawyers be frequent visitors of your house…”


  18. Pingback: John Ward – Greek Election : The Fate Of The Euro Is NOT In Greece’s Hands – 17 June 2012 | Lucas 2012 Infos

  19. There are 27 members of the EU and 17 of the EZ. Germany and (sometimes) France have seized the reins and made off with what should be a democratic organisation. This really is unacceptable.


  20. Junckers, in particular, needs to keep quiet. He is of course addressing another constituency, but silence from him is the preferred option by all recipients of his wisdom.


  21. For John Ward – have any of your sources revealed to what the results of the secret EU polls indicate for today’s election ? I recall you were so kind to share your intel before the May election and your info was pretty much spot on ! If you can share , I would be curious to read what that intel might be , if you are at liberty to share same ! Thanks in advance !


  22. “If, however, Francois Hollande wins a majority in the French Assembly, he will take to the next EU summit on June 28th what he can present as the popular will of France in favour of growth actions and eurobonds in order to calm the markets”

    I believe the German parliament is supposed to vote on ratifying the ESM on the 29th – what hope is there of that happening with Hollande wanting to rip up the austerity policies. Assuming the German parliament then says no, I think we have a possible timeline for the final implosion – i.e. the first week in July.


  23. @Nick & BT…Both Absolutly Right!!…I had a very lively Message exchange with a very happy Athenian friend last night particularly after the football result…not quite in her youth and normally centre right in politics but off to vote for Syriza today as she is totally sick of it all and whether in the ballot box or on the football pitch of Euro 2012 is definatly of a mind to ‘Bring on the Germans’ next !!

    As you both were mentioning about MSM’s role in all this……If Syiza does well tonight, I wonder if it will be a Greek, Berlin or London newspaper tomorrow morning that (utterly ignoring the plight of Spain, Italy etc.!) runs the headline “Eurozone sunk by Greek goal just before half time !” ;)


  24. I like this sentence …

    “all of which it would have to do in order to arrived at a Fiskal Union not entirely peopled by the inmates of a debtors’ prison.”

    Porridge anybody?


  25. Nigel Lawson (ex British Chancellor in the 80s) reminded us today of what he and Schlessinger (ex BuBa President when it was the best central bank in the world) both said at the time:

    …………”This [the Euro currency] will never work”…………….
    How right they were.

    It is surely time to bring the EU madness to an end…

    Politically, I am almost certainly diametrically opposed to the general policies of Syriza. But I wish the party the best of luck in today’s election for having the guts to take on the EU elites. I do not believe the predictions of doomsday being spread around by the EU opponents and commentators in the MSM Daily Slime.


  26. You are not alone – I am not a natural ‘hater’ but in the case of the EU and its supporters, wherever they may be, I make an exception.


  27. Nick
    650 foreign news teams….
    Can’t see any right from wrong any more apart of the following ;
    This is not a financial crisis but the harsh manifestation of mass disenfranchising & commoditising.
    Sad; culture, wisdom & filotimo are evaporating and we still refuse to unite and see…


  28. Offf topic, but Greece beating Russia in the Euros has made me slightly more sunny, slightly less cynical, and a tiny little bit more confident as to what lies ahead of us.
    Russian money didn’t make Greece lose. Who’d have imagined that?


  29. Almost all to the point, dear John, except..
    1. Merkel is certainly no dumbhead – on the contrary, she has a very clear idea of what matters to herself over the next decades. Would you trade short-lived praise from corrupt European and North American politicians for the lasting anger of the raided German taxpayer and his children and grandchildren? Knowing full well that the mess can’t be fixed anyway, no matter what?
    2. Net exporters, contrary to what can be read in the MSM and your blog, are not evil profiteers per se. Rather, they tend to be hard working fellows who happen to produce goods which other nations’ consumers hold in high esteem.


  30. uofficial predictions expect pro-Bailout ND is head by just ~1%…

    Despite all the blackmailing from EU, Media, the public is clearly fed up…


  31. Interesting article, plus the comments are up to the usual standards, plus some excellent links. Much better then MSM, but life is for enjoyng and the little people can’t change much. So do the best you can to minimise the damage done by our leaders and [betters?]

    Check the link and have a a coffee and enjoy the video.


  32. First official exit poll:
    ND : 27.5 – 31.5
    SYRIZA: 27.0 – 30.0
    It’s gonna be a thriller. And as JW wrote, formation of a stable government will be very difficult.


  33. Pingback: GREEK ELECTION: The fate of the euro is NOT in Greece’s hands [TheSlog] « Mktgeist blog

  34. MarkyMark.

    For 40 years the west utilized excessive consumption, to create the growth necessary to service and grow the debt only to repeat the cycle as if this was some way to get something for nothing. Sovereigns thought Keynes could be used this way when in fact it does have a useful purpose if you can see it.

    Two extremes now.

    1.) Under any austerity cutting a consumption of 10 to 9 you lose one hey who cares?

    2.) Start cutting the excessive consumption of say initially 100 to 9 now where 9 is needs in both my scenarios.

    1.) Is a 10% contraction and the best case scenario while 2.) is a 91% contraction a worst case scenario. The question is not austerity but how much did we grow the excessive consumption past needs?

    At some point in 2.) you can no longer service the debt you run up so start adding a dash of funny money to keep it all going Mr BoE. Downside is everybody is being deflated into poverty in varying degrees. Even the investors don’t realise it they are only standing still on the return if they are lucky.

    Now the thing about 2.) the income to support the debt keeps falling so the debt is now primarily growing by this mechanism and the inability to service it so it keeps resetting the baseline. Worth saying now sovereigns have lost control of the debt as they are in fact no longer controlling it. The contraction now the dominant factor all the sovereigns can do is create more money to try and keep plugging the gap and it don’t stop until under scenario 2.) we hit 9. Even then it might not end because the debt so big is unrealitically ever serviceable on earned income.

    The current rallies are to try and preserve the end value where debt becomes ever harder to service because of falling incomes this is the manipulation. You just can’t let it go kind of thing.

    I could be wrong … just an opinion and as there is nothing I can do about it I just watch with amazement at all the apparent pretence of a solution.


  35. I smiled too, maybe that will help a Greek citizen somewhere for a short time the feel good about something factor.


  36. No prob Shafted. And yeah the fat guy goes down. Unfortunately PASOK will be the “third” party, necessary to form a coalition :-(


  37. I have a cyncial thought.

    Did the Russians give the game to Greece for the feel good factor.

    A happier soul might influence the outcome of the election?

    Is that a cyncial thought to far? it would not surprise me though if it was.


  38. @Judith: I share @Mudplugger’s comments. The EU elites who brought this disaster upon the whole of Europe should be held to account.


  39. IMHO, if your idea is that the Germans are accused for being hard working and productive, you got it all wrong. You don’t wanna see, or you can’t see (that a problem with German psyche) what is wrong with German leadership, and the tactics of the last 20 years.
    Conrad Adenauer, where are you?
    Ludwig Erhard where are you?
    How myopic your successors have been :-(


  40. Absolutely right. We are being invited to take it on the chin and up the arse at the same time but it really won’t do to become emotional.


  41. Naaahhh…to far. Russians where so sad they lost the game that they ‘d have to be 1st class actors.
    Now if Greece faces Germany in the next match, and Germans decide to let Greece win, that ‘d be something :-)


  42. Bay root
    I do not recall demonising successful exporters. I merely remember saying that those who’ve had export success based on an artifically cheap currency should not then pauperise those poorer nations who made it possible.


  43. Ireland’s problem is simply its size. 4.7m is not big enough to challenge the Frau Doktor and only a sub-grouping with several other like sized countries will solve that problem. I foresee that such groupings will occur in future, and I think it would be a very good thing.

    Plus Ireland continues to irritate ‘important people’ by setting its corporation tax rate at half that of other countries.


  44. OK,that’s the Greek ,Egyptian and French elections out of the way.Stalemate,civil war and la la land,in that order .Spain and Italy,I do not trust those YIELDS.Ah, Germany,the potential biggest loser in a meltdown,no thanks.Sterling, give me a break,I will wait until 3 percent base.Roll on the market’s judgement whilst they sun themselves in Mexico.


  45. @kfc: We were right. 100% :-)

    The translation of his words is “I don’t want to lead Europe until the job becomes available”…one of those political off-the-cuff comments that means what you want it to mean. And all things being equal, Cameron would support him. Anyone care to name the year Britain will be taken into the Eurozone?


  46. Nick Epaminondas, your battle order is certainly oblique, or slightly opaque this time. Neither Konrad Adenauer nor Ludwig Erhard would have the FAINTEST clou how to fix the utter mess which the EZ has become. For sure those visionarizes – inclusing the fat one, Kohl, or cabbage – were more capable of creating, rathrer than resolving, probelms. Common problem of visionaries. Helmut Schmidt famously said: You have visions? See the doctor.


  47. @BT: “Anyone care to name the year Britain will be taken into the Eurozone?”
    That’s going to be the hardest issue to predict, there are so many influencing factors, too many variables for me anyway but, if the playing field were level, I would say that within 6 months of Blair getting the top job, which I think is less than 12 months away at the most.
    I suppose the issue that intrigues me the most is, how much does the US want Europe to succeed, in as much as a common currency along with Fiscal Union? I can’t help but think that that would be a rival for the dollar. But, I suppose the politicos only think in terms of immediate future now, long term planning has long gone.


  48. For my money, tonight’s result is the germans have lost. Greece stays in the Euro and gets deal germany didn’t want on austerity. Then Spain gets a deal on their banks: equity not debt. The Euro survives and the EU survives. WE LOSE, we stay in and gourgle down the toilet. I’m depressed but not surprised.


  49. Worth a shot, what the hell, might be a waste of time, but personally I feel it’s worth trying to do something positive in order to bring some reason into play, before things like the events shown in the link below become the only outlet for dissent. I will then at least be able to look my Grandchildren in the eye & say: ” I didn’t just talk about it “.

    Warning – like this blog, not mainstream media approved :


  50. Well…Kohl has been one of Merkel patrons. CDU/CSU scandals…yap.
    Only the tip of the iceberg is visible. But wait till the end of the year/beginning of 13…could be there are surprises.
    Probably you’re right and not even Chuck Norris can find a solution to this EZ mess. I still believe politicians like Adenauer and Erhard would have avoided putting Germany and EU into this “bend-over” position.


  51. Who can really tell? Everything’s on the edge right now. But maybe soon, in the next one-two months things clear out.
    BTW, rumor has it that the Asian stock exchanges are having a party on Monday morning? In Tokyo S.E. they are waving flags of ND ? :-)


  52. @Nick/@oah: As in: I know this train is going over the edge but, these are my friends and……… we all have to die sometime and……….. I don’t want to live without my friends. Rather than: My friends are frigging nuts……. I’m getting off this sucker right now and find some new ones! ?


  53. @kfc: Well, Blair wants the super-duper-unelected new POTUSE job (President of The United States of Europe) and that’s only in the early stages at the moment, even though Barreloso and the Garden Gnome are squabbling over it already. I guess it’ll get formalised in good time …maybe needs another treaty, dunno. Then he’ll want to get himself parachuted in (with Cameron’s support), get his feet under the table and choose his private plane spec. First things first for our Tone you know ;-) He’ll also want to check the Euro still exists by then!

    With all that, my best guess is that he’ll be peddling the Euro for Britain for the next UK general election in 2015, which he’ll calculate will tear the Tory Party apart. Labour will go along with it (which is what they’ve always wanted) and of course the LibDems will be champing at the bit. I would expect a coalition between these two venal parties to achieve this all-time act of treachery.


  54. Oh well, as expected, fear wins the day in Greece. Will ND try for renegotiation of terms and risk a slap down? Will they do nothing to improve the situation and risk a popular backlash? Will Merkel throw them a crumb wrapped up as a renegotiation as reward for their compliance? Obedience has its own rewards and work will set you free. Trust me I am a doktor.
    Merkel and the EU have made an example of Greece as a warning to others, now she will help them, and Spain and Italy will get the message.


  55. Call me pessimistic , call me cinical , call me depressed , call me misanthropists , but we talk about solutions as it is given that they always exist . After tonight’s results in Greece I don’t cling to hope anymore .The only ones that see solutions in Greece are probably part of the problem .Greeks will need more than economic/political/social solutions .
    they will need a leap in ” consciousness ” and will take a long long time ,is the kind of problem that when you are faced with ,as Einstein said ” you wish you have chosen to be a watchmaker ”
    We have the whole century ahead of us . I will have some chocolate now .


  56. Pingback: GREECE: Jubilation is premature…nobody has factored in the reality of the morning after | A diary of deception and distortion

  57. Pingback: John Ward – Greece : Jubilation Is Premature… Nobody Has Factored In The Reality Of The Morning After – Pasok Still Wants Syriza in Coalition, Or No Deal – 18 June 2012 | Lucas 2012 Infos

  58. The EU and democracy are not even on shaking hands terms. In fact fair to say that the EU could not see democracy using binoculars through a telescope ! The whole concept of ‘the nation state’ is gone (except for those living within the boundaries where austerity is demanded.) If the EU was what it pretends to be…….there would be no doubt whatsoever that the German (and other) economies would be supporting financially the less strong economies. After all its no good telling these totally diverse countries that all of their (multi-)cultures are to be celebrated equally and then adding – but you’ve got to all become Germans ?

    Well, you would have thought, wouldn’t you ?


  59. Nice idea but totally unlikely. We – the bloggers and politically aware make up such a small proportion internationally that however hard we try we could not get enough of the TOWIEs interested enough especially as an international movement.
    I have said it before and I’ll keep saying it. These people will not get motivated until they cannot get enough food…………and these are the masses that are required to ensure change.
    Things are not bad enough yet and I have no clue as to when they will become so. The best that ‘we’ can hope to do is organise some sort of ‘leadership’ to try to put things back together again after the blood and violence has ended.

    Trying to take society back from the anarchy which will likely prevail for some time and give everyone left a reasonable chance is going to be harder than trying to get the current political groupies to do what they are supposed to be there to do. This is where I think that the ‘aware’ crowd need to be focusing their attentions.


  60. Pingback: ACTION….Spanish bailout “imminent….unavoidable”. | A diary of deception and distortion

  61. Pingback: 3rd GREEK BAILOUT: Slog prediction vindicated in MSM | A diary of deception and distortion

  62. Pingback: John Ward – Action…Spanish Bailout “Imminent…Unavoidable” – Words : “The G20 Wishes To Express Its Alarm About The Eurozone Crisis” – 19 June 2012 | Lucas 2012 Infos

  63. Pingback: John Ward – 3rd Greek Baillout : Slog Prediction Vindicated in MSM – 19 June 2012 | Lucas 2012 Infos

  64. The only good thing about this FINANCIAL ARMAGEDDON, is that the masses are now realising what a CON JOB the EU really is – but how deep is the rabbit hole? I suspect the puppeteers right at the top of the pyramid have planned all of this, we cannot imagine the lies and cunning and control that have gone on…..its a snake pit!!


  65. Pingback: GREECE: If you want to know whether the latest election makes any difference at all, then read this S&P verdict. | A diary of deception and distortion

  66. merkel has not an easy job to do secondly the dutch finland luxembourg are also against euro bonds
    would england give accesss to ireland or greeks to get to it´s savings, would the usa have shared bonds with mexico i don´t think so.
    with euro bonds the south of europe would have access to plunder our resources and moody´s or fitch can downgrade our economy right away
    because germany as biggest paymaster should have some rights.
    merkel is not alone there, with a a germany there would not be bailouts and greece would not be able to overspend.
    and the smaller triple aaa nations would not help if germany did help too.
    banks should know how they handle their loans and not make tax payers responseble
    fact is in the middle of europe needs to be a strong germany if not it would be bad if they where like the greeks
    they keep a balance as the uk only is critical and the french banks are depleted because of greece
    so they believe euro bonds is the answer to plunder our treasury,..
    ben bernanke of the federal reserve would surtenly not give other access to the us treasury
    why should we in northern europe
    greeks italians and spanish have to have reformations fiscal and banking cut out corruption and hunt down local tax evaders not get easy way out what they cannot pay back
    the problem in greece spain and italy is a inside cancer called corruption we can give all our saving but point is reforms not paying credit with credit.
    but the uk is many time just critical towards germany regardless but as one of the bigger nations we cannot go around them.
    we need them like it or hate it…
    also the uk does not really help to bailout the south of europe and sometimes i believe that the usa and some others love to see germany go down, but they forget in this euro crisis that their allies are other triple aaa nations
    it is a complicated issiue not only the blame from germany..


  67. Pingback: EUROBLOWN: Now it really is, as Spain & Italy to get…. | A diary of deception and distortion

  68. Pingback: John Ward – Euroblown : Now It Really Is, As Spain & Italy to get… – 20 June 2012 | Lucas 2012 Infos

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