Skip to comments.Europe Crisis Deepens As Chaos Grips Greece
Posted on 05/05/2010 4:36:30 PM PDT by The Magical Mischief Tour
ATHENSGreece's fiscal crisis took a new turn to violence Wednesday when three people died in a firebomb attack amid a paralyzing national strike, while governments from Spain to the U.S. took steps to prevent the widening financial damage from hitting their own economies.
U.S. Treasury officials have been quietly urging their European and International Monetary Fund counterparts to put together a Greek rescue plan more quickly to contain the damage, it emerged Wednesday, as U.S. policy makers worry the continent's problems could undermine a U.S. recovery much as U.S. housing woes hammered Europe in 2008.
In Spain, rival political leaders came together Wednesday with an agreement that aims to shore up shaky savings banks by the end of next month. Investors, meanwhile, are pouring money into bonds of countries seen as less exposed to the crisis, from Russia to Egypt.
(Excerpt) Read more at online.wsj.com ...
Damage, public sector unions making high wages and unsustainable pensions.
I’m not versed in European history, but we seem to see this movie many times.
Interesting though that it isn’t the workers rising up against the capitalists and industry. Rather those who receive government benefits rising up against the government cutting their benefits.
Hopefully this isn’t us in five or ten years.
I guess I just don’t udnerstand why they are doing this? How can they not understand that there is no more money to give them? They act like spoiled children who refuse to take no for an answer. I could see this happening with our own government workers and welfare recipents.
If the Apocalypse hadn't been written, it would have to be...
We were hoping to take a Med cruise next fall.. hope they get things under control in Greece.. and EUrope by then
I’m too old to play Tommy Commando anymore..
1 in 3 Greeks are government employees.
California, as a whole, is Greece writ large. Our fiscal problems exactly mirror the Greeks, except that Cali’s economy is more than five times larger than Greece’s.
That’s gonna leave a mark when it blows up.
In California, 1 in 7 are government employees.... 1 in 3 Greeks are government employees.
It’s getting there.
Athanassakis sounds like a Palestinian.
So it’s really a WORLD crisis. Not just GS. HUMMMMM..this kind of stuff can get REALLY ugly fast. and everyone knows that euro radicals are not adverse to killing people.
Mutually assured economic destruction.
Ain’t globalism grand?
Please tell me that is a Photoshopped sign.
If not that picture should be on every billboard in America.
Us in 5 to 10 years? Try the end of this years or sooner.
A remember about 5 years ago, Larry Kudlow was predicting this was coming to Europe. He was commenting on the Paris rioting over them trying to raise the hourly work week and make it easier for employers to fire non-productive workers.
He said Europe was due for a major economic spanking and it wasn’t going to be pretty. That’s its socialist model of public sector subsides for the majority of their job creation was a total recipe for disaster. Because their abysmal private business development created such low GDP rates, and bloated pension and welfare benefits that promised payouts in the millions for paying very little into it (are you listening California????) had so crossed the point of no return line, that major recessions and entire governments declaring bankruptcy was on the way.
These are the good ol' day's.
The globalist elite banks have thrown the Greek economy in the toilet by design so that they can financially enslave it. That’s why.
That has got to be an agent provocatuer. Even a lefty Latin American wouldn’t be that dumb.
Tea Party folks don’t like it when the left does that to us, and I don’t think we should approve it when somebody else does that to the left. It ain’t fair.
I think the UK has more then 1 in 3 as govt employees.
I don’t want to print one worthless dollar for these communists. NO US MONEY!!! I get around and the mood of this country is getting real bad. I think something could blow.(pray no). People I talk to are PISSED!
This movie’s worse - it’s gonna jump off the screen and infect us all...
Where did you get that? I`d like to download it myself. I`d pay real money to have that turned into a nice big poster.
How can we think about bailing out Greece when several of our large states are at the edge of bankruptcy?
Five or ten years? What an optimist.
It was discussed on a thread today, can’t remember the exact title but it was specific about that sign. Levin? Horowitz? With I could remember. If you check today’s articles you’ll find it.
The conclusion was that it is not photoshopped.
Coming soon to a nation near you. :)
Ooooooo... I certainly hope so. The moochers out in the open - bring it on. Loot my part of town, baby! I’ve got a little friend I want you to say hello to.
Imagine if there was only one salary, and everybody made it. Then we could all go ahead and do our jobs, whatever our abilities were, but we’d do it for the love of the work and for our common good. Wouldn’t that be grand?
I heard some in Greece are saying “We gave the world Democracy. You OWE US!”
Looks like the less equal animals are rising up against the pigs. There Will Be Blood.
Wow... you’ve GOT to be kidding me.
It’s at Leisler’s link to Denninger. Down towards the bottom of the page.
It's all part of the socialist agenda. Get useful idiots to join World Worker's Party type of groups to cause enough strife that eventually capitalism collapses. It has been happening been incrementally for decades and now the push is on.
At the business end of a firearm too!!! Long live Marxism! Workers of the World Unite!
Greece is succubing to anarchy. No one seems to bein charge. This will not end well. Even if they get a bailout, that money is already gone. ANSWER has itself a victory there.
You hit the nail on the head.
"U.S. Treasury officials have been quietly urging their European and International Monetary Fund counterparts to put together a Greek rescue plan more quickly to contain the damage, it emerged Wednesday, as U.S. policy makers worry the continent's problems could undermine a U.S. recovery much as U.S. housing woes hammered Europe in 2008."
International Monetary Fund: US Governor Timothy F. Geithner, Alternate Governor: Ben Bernanke. The US has roughly a 17% stake in the IMF. Translation: We are already helping bail out Greece.
It is very simple. Those who have conscripted wealth away from those who earn it and entitle those who don’t now have to face reality. Those who earn won’t and those who won’t get will riot.
Nice freaking mess, Socialists.
Greece has been a mess for decades. There is a really strong communist element in Greece, and it has been riddled with domestic strife since long before the 2nd World War.
What's happening today in Greece I believe foreshadows what is to come in many of the European countries with over-indulgent social programs.
Too many people have become far too accustomed to government largess. It's an unsustainable model.
And in Greece, who gets the bailout dollars? The banksters get the lion’s share, while the political elite pick up the rest.
These are the good ol’ day’s.
Yeah, I was telling an employee the same thing. I told him wait until the cannibalism starts.
Maybe 1 in 3 is a government employee, another third actually works for a living, and the remaining third is on the dole.
I’d like more proof that it is real. If so, it’s a bombshell.
I thought the NHS was one of the largest employers in teh world with something like 720,000 employees largely providing lousy health care in filthy hospitals.
They cannot admit they have made a mistake. They will never admit socialism/communism is a failure. Even though the first large nation to embrace it collapsed (Soviet Union) and nations that have only partially embraced socialism are now sitting on total debts close to and over 1 trillion dollars each. These leftist pukes would rather burn bank employees alive then admit they were wrong.
Greece needs to grow its economy aggressively and it cannot do so when it is chained to the Euro and ECB.
So an orderly and rapid exit from the Euro is essential to restore competitiveness. It is possible that a move away from the Euro will result in a run on the banks but it does not have to be so. The government can decide to allow all deposits currently in euros to remain in this currency while introducing a “new drachma” for payments and salaries.
The “new drachma” can be originally set at parity with the euro and allowed to freely move in the markets. It may decline precipitously originally, but if Greece resumes fast growth, it would recover some of its value.
It shouldn't take long.
The crowd you show would be a great excuse to open up on them with something belt-fed-!
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