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View Full Version : Germany Tells Greece: Stop Asking For More Help.....



MMC
06-24-2012, 10:26 AM
http://l3.yimg.com/bt/api/res/1.2/1ilz4GUUynd44a0_8oQDMA--/YXBwaWQ9eW5ld3M7Y2g9Mjg0O2NyPTE7Y3c9NDUwO2R4PTA7ZH k9MDtmaT11bGNyb3A7aD0xMjA7cT04NTt3PTE5MA--/http://media.zenfs.com/en_us/News/Reuters/2012-06-24T120904Z_1_CBRE85N0XRD00_RTROPTP_2_CNEWS-US-EUROZONE-GERMANY-SCHAEUBLE.JPG

BERLIN (Reuters) - Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said on Sunday.

"The most important task facing new prime minister (Antonis) Samaras is to enact the program agreed upon quickly and without further delay instead of asking how much more others can do for Greece," said Schaeuble, a close ally of Chancellor Angela Merkel and Europe's most powerful finance minister.

Greece's new three-party coalition government said on Thursday it would renegotiate the terms of the 130-billion-euro bailout deal that is helping the country avoid bankruptcy.
The coalition's platform particularly challenges euro zone paymaster Germany, which has offered to adjust the lifeline's terms to make up for time lost as a result of two Greek elections since May, but refuses to revise it radically.
Greece wants a two-year extension to the 2014 deadline for it to cut its budget deficit to 2.1 percent of national economic output, from 9.3 percent in 2011. The extension would require an extra 16 to 20 billion euros in foreign funding.

The poll of 4,000 people in Germany, France, Spain and Italy showed 78 percent of Germans and 65 percent of French people wanted Greece to leave the euro zone, with 51 percent in Spain and 49 percent in Italy also backing a Greek exit.

The new government must now work to fix its public finances while negotiating with euro zone leaders who are losing patience with Athens after two multi-billion-euro bailouts since 2010 that have failed to stem the crisis.....snip~

http://news.yahoo.com/stop-asking-more-help-germany-tells-greece-120904267.html
Reuters – 3 hrs ago<<<<<More Here, way more!

Seems some were not looking for Greece to pay back their debt and leave the EZ. Wonder how that makes Team Obama feel after he got done endorsing the EU for not letting Greece leave the Blastzone. Now Germany has had enough. They will not budge anymore.

Trinnity
06-24-2012, 10:28 AM
There has to be a limit to the bailouts. Duh~

Shoot the Goose
06-24-2012, 10:51 AM
I wasn't paying attention. At first I thought he was talking to Democrats in America. ;)

I wasn't off by much though.

Shoot the Goose
06-24-2012, 11:03 AM
From the second updated link:


The government (new Greek government) will also seek to extend the payment of unemployment benefits to two years from one, to offer benefits to the self-employed without work, and to limit public sector lay-offs.

and .....


"Anyone who has the chance to spend someone else's money will do that," he (German Finance Minister Schaeuble) added, before telling the reporter: "You'd do that and so would I. The markets know that. And so from that point of view they wouldn't be convinced by euro bonds."

MMC
06-24-2012, 11:11 AM
Don't forget all those that never held jobs get to retire on a pension for life too. Sounds just like Democrats to me. :laugh:

Peter1469
06-24-2012, 11:12 AM
Greece should not pay back its debt. It should let the bond holders and banks eat the loss.

Shoot the Goose
06-24-2012, 11:25 AM
Greece should not pay back its debt. It should let the bond holders and banks eat the loss.

Then what debts are valid anywhere ? In that, where is the line drawn ? A Greek default will be on the backs of other countries in the EU. Their taxpayers. Investors.

Peter1469
06-24-2012, 11:32 AM
Then what debts are valid anywhere ? In that, where is the line drawn ? A Greek default will be on the backs of other countries in the EU. Their taxpayers. Investors.

That is the fault of people who invested in Greece. If you buy stock in XYZ corp and that corp goes out of business will you demand the taxpayers to cover your losses? That is not an investment, it is insurance.

Greece should not nationalize debt while keeping profit private (and for the bankers).

Shoot the Goose
06-24-2012, 12:38 PM
That is the fault of people who invested in Greece. If you buy stock in XYZ corp and that corp goes out of business will you demand the taxpayers to cover your losses? That is not an investment, it is insurance.

Greece should not nationalize debt while keeping profit private (and for the bankers).

But Greece's "debt" is not just such as the junk bonds. In fact, the bulk of the debt is guaranteed by the EU, IMF, etc. Why is it OK to default on that ?

Peter1469
06-24-2012, 03:10 PM
But Greece's "debt" is not just such as the junk bonds. In fact, the bulk of the debt is guaranteed by the EU, IMF, etc. Why is it OK to default on that ?

What interest should future Greek citizens have with the EU, the IMF etc? Why become debt slaves to these foreigners? Bailouts will not free Greece. Greece must leave the EZ and repudiate their debt; just as Iceland did with its debt.

Deadwood
06-24-2012, 03:34 PM
What interest should future Greek citizens have with the EU, the IMF etc? Why become debt slaves to these foreigners? Bailouts will not free Greece. Greece must leave the EZ and repudiate their debt; just as Iceland did with its debt.


The two situations are very different, although you are correct. Just like the US, more deficit spending is not going to solve the deficit spending crisis.

Just like Spain, though, the Greeks want to keep their unsustainable lifestyle without having to pay for it. Last week, Canada's Stephen Harper upbraided Spain and said they would have to learn to live within their means.

The next day the Spanish Prime Minister wailed "we do not need to told how to run our affairs."

OK, then get your own asses out of the fix......but if you want our tax dollars, do what you're told.

Peter1469
06-24-2012, 03:52 PM
I was only referring to one situation- the Greeks. Although you are correct, if could apply widely.