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Greek government on the brink of collapse
msnbc.com ^ | November 3, 2011 | msnbc.com news services

Posted on 11/03/2011 6:26:25 AM PDT by John W

The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout with turmoil in the ruling party casting grave doubt on whether Prime Minister George Papandreou can survive a confidence vote.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: greece
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1 posted on 11/03/2011 6:26:26 AM PDT by John W
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To: John W

My 401K hates Greece.


2 posted on 11/03/2011 6:27:06 AM PDT by TSgt (Legal Disclaimer: View my profile at your own risk)
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To: John W

Prime Minister George Papandreou to offer resignation.

http://www.bbc.co.uk/news/world-15575198

I guess if you can get off the Hindenbug and make a run for it, you better!


3 posted on 11/03/2011 6:28:35 AM PDT by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: John W

LOL!

Merkel blasts ‘lazy’ Greece and Portugal
http://www.eutimes.net/2011/05/merkel-blasts-lazy-greece-and-portugal/
German Chancellor Angela Merkel has this week sparked a wave of outrage across Europe by calling on Portugal, Spain and Greece to raise their retirement ages and reduce their leave. She warned that German aid to these countries could be cast into doubt should southern European countries fail to adopt the work ethic of her countrymen.

“It’s not just about getting any further into debt in countries such as Greece, Spain and Portugal, people should not be allowed to receive pension before their German counterparts”, Angela Merkel told supporters at a political rally in Germany.

“We all have to put in some effort. This is important, we cannot have the same currency, yet some have an abundance of holiday leave and others have very little”, reasoned the German Chancellor.

“We cannot stand by these countries and allow them to act the way they have up until now. Germany will help, but only if these countries demonstrate they are putting in the necessary effort”, added the Chancellor.


4 posted on 11/03/2011 6:30:34 AM PDT by TSgt (Legal Disclaimer: View my profile at your own risk)
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To: John W

The Greeks intend to give everybody a haircut.

In the world.


5 posted on 11/03/2011 6:32:47 AM PDT by exit82 (Democrats are the enemies of freedom.)
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To: VanDeKoik
So when does the Bundeswehr get sent in to do the repo. It's been so long since the panzers have rolled. Makes me all nostalgic.

I do so enjoy socialist vs communist warfare. Popcorn sales will be way up.
6 posted on 11/03/2011 6:33:51 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: TSgt

Oh, how heartless and cruel!
She wants them to actually WORK for aid!..............


7 posted on 11/03/2011 6:33:58 AM PDT by Red Badger (Obama's number one economics advisor must be a Magic Eight Ball.................)
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To: GonzoGOP

The Luftwaffe is warming their engines...........


8 posted on 11/03/2011 6:34:49 AM PDT by Red Badger (Obama's number one economics advisor must be a Magic Eight Ball.................)
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To: John W

Italy is calling for Berlusconi’s resignation too...


9 posted on 11/03/2011 6:35:21 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: John W
doubt on whether Prime Minister George Papandreou can survive a confidence vote

Shouldn't be a problem, since he's a confidence man.

10 posted on 11/03/2011 6:38:01 AM PDT by edpc (My silence IS an answer)
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To: Red Badger
The Luftwaffe is warming their engines...........

I know nothing about Greece, other than they are a welfare problem for Europe. Is there any real chance for any kind of civil war? Or are they all too lazy for that?
11 posted on 11/03/2011 6:41:35 AM PDT by ZX12R (FUBO GTFO 2012 !)
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To: John W

So collapse already! Let’s get it over with.


12 posted on 11/03/2011 6:41:47 AM PDT by Huskrrrr
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To: John W; All
Chris Martenson issued this alert Tuesday for his subscribers. I'm seriously thinking of following his advice. If the banking system collapses in Europe, the contagion will flow into the American banking system, IMHO. Am curious as to what other FReepers are thinking about this. Excerpt follows:

Tuesday, November 1, 2011, 4:54 pm, by cmartenson

I am issuing an Alert tonight. After examining the data, I have come to the conclusion that the possibility of a European centered systemic banking crisis is unacceptably high and that there are certain actions you should take.

For my new subscribers, I will only send an Alert when I am personally moved to action, or would be if I were not already as prepared as I am. That is, the point of an Alert is action. I do not wish to add to anxiety, especially unnecessarily, and take my responsibiliites in this regard very seriously.

That said, tomorrow I am going to get more cash from the bank to hold in reserve until things clear up (or break down). The idea here is that cash will be a very useful commodity to hold and then deploy should the banking system suffer some sort of a freeze-up for any length of time.

The risk now is that the Greece situation spills over into Portugal, Italy and Spain; if only because more people wake up to the idea that these economies are just as incapable of servicing their outstanding debt as Greece. The warning signs are as ominous as any since the crisis began in August of 2007.....

13 posted on 11/03/2011 6:42:15 AM PDT by OB1kNOb (The prudent see danger and take refuge, but the simple keep going and pay the penalty. - Prov 22:3)
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To: John W

MUST.NOT.LET.THE.PEOPLE.VOTE


14 posted on 11/03/2011 6:42:51 AM PDT by BfloGuy (Even the opponents of Socialism are dominated by socialist ideas.)
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To: Huskrrrr

I agree!


15 posted on 11/03/2011 6:43:36 AM PDT by txmissy
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To: John W
BBC Reports Former ECB VP Papademos To Lead Caretaker Government
16 posted on 11/03/2011 6:44:03 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: John W
Greek government on the brink of collapse

When isn't it? That should be a standing headline.

17 posted on 11/03/2011 6:47:48 AM PDT by AU72
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To: ZX12R

It would be a civil war between the ‘have nots’ and the ain’t gots’............


18 posted on 11/03/2011 6:48:20 AM PDT by Red Badger (Obama's number one economics advisor must be a Magic Eight Ball.................)
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To: mewzilla

MSNBC update: Greece’s Prime Minister Papandreou says he won’t resign, amid demands that he steps down and let a coalition government move forward on the European bailout plan.om


19 posted on 11/03/2011 6:48:29 AM PDT by John W (Natural-born US citizen since 1955)
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To: John W

Maybe a collapse will be the best thing that could happen to them in the long run. The bailouts need to end, they need to take the fall for their bad policies and behavior. Only then will they learn from them and correct them.


20 posted on 11/03/2011 6:49:23 AM PDT by GeronL (The Right to Life came before the Right to Happiness)
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