Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?
Posted on 06/14/2015 1:05:35 PM PDT by Red in Blue PA
BRUSSELS/ATHENS (Reuters) - Talks on breaking a deadlock between Greece and its international creditors broke up in failure on Sunday, with European leaders venting their frustration as Athens stumbled closer toward a debt default that threatens its future in the euro.
With Athens insisting it would never give in to demands from the EU and IMF for pension and wage cuts, the European Commission declared that the negotiations in Brussels, also involving the European Central Bank, had not succeeded.
(Excerpt) Read more at finance.yahoo.com ...
i think it rallied Thursday because of the deal and fell Friday because of the deal. or some such nonsense.
tomorrow will be ugly.
but what’s a quarter of a trillion among friends?
that reminds me...can anybody here lend me 10000 dollars?
in return i promise to enact austere cuts in my lifestyle :) somewhere in the future...
The EU: Pay us our money.
Greece: We can't. We are broke
The EU: We'll lend you the money to pay us and you can pay us later.
Greece: We can't. We are broke and the governing party will not accept financial reductions to our voters.
The EU: Alright, we'll lend you the money and you just appear to pay it back.
Greece: No response as yet.
I don’t have a clue why Greece doesn’t just say “forget it...we can never pay these loans back, so we won’t even try”. Why does their leadership want to be in forever slavery to the northern European banks, anyway?
I do expect widespread default at some point. No one can really pay back anyone. It’s more apparent with Greece, but it’s true for us as well.
“can anybody here lend me 10000 dollars?”
My God, that’s paltry! Quick, somebody loan this man ten million!
When you owe $10,000 the bank owns you. When you owe $10,000,000 you own the bank. (You need to hang out with the Clintons to see how it’s done.)
In the US, it would be so nice if the DC crowd simply disbanded the Federal Reserve. Then we wouldn't owe them anything.
It's not as crazy a thought as it first seems.
This has been going on for so long I’m getting tired of hearing g about it. The Euro was a bad idea to begin with. They should have listened to Margaret Thatcher.
Problem is I think that all currency is floating, manipulated, and endlessly negotiable as to value.
And the powers that be have much grander plans of one military and eventually, I guess, one nation.
“I don’t have a clue why Greece doesn’t just say “forget it...we can never pay these loans back, so we won’t even try”. Why does their leadership want to be in forever slavery to the northern European banks, anyway?”
Because they’ve been living on borrowed money and their economy will instantly flat line the moment they default and leave the EU: no one will ever lend them another dime and the new drachma will be worth about the same as a zimbabwe dollar, namely about one bazillonith of a US dollar. In fact, Greece will pretty much instantly turn into Zimbawe on the Mediterranean the moment they default.
Greece will soon be leaving the EU and going back on the drachma. The unraveling of the Eu is about to begin.
All the Greek hair dressers who retired at age fifty with full pensions gonna take humungous hair cuts. Those pensions will be on par with USSR pensions after the fall.
Suicide on the installment plan.
Who here didn’t see it coming long ago.
OPM no more.
Someone speculated that the Greeks were actually manipulating the market. Go long, and claim they have a deal; sell, go short, then act like the deal is dead, cash out, go long again...
If you look at what they’ve done over the last few months, it makes sense, and would explain where the money came from for the last payment.
Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?
Tell the Greek idiots to get out if the EU. They don’t deserve any more free money from countries that actually work for a living.
Trades are all corrupt.
He even said that the 1987 Stock crash was manipulated. We were selling everything to Japan, the US Dollar to the Deutshmark was something like 4:1 - so it was in the advantage of the manipulators to force a crash. Don't know how true that is, but it was interesting.
I don’t know. I learned in econ that floating currency is worth what people think it is worth. While on the one hand it seems like that should make things easier, I don’t think the architects of this system figured on the Chinese.
You are definitely onto something with the comment on the Chinese.
I believe currencies are manipulated.
I lived in Germany before the Euro. Germany was, and is, Europe's largest and most powerful economy.
One day, the US Dollar exchange rate to the Deutschmark was such that 1 DM was worth about 60 cents.
Overnight, Germany goes to the Euro, which is said to be worth about 80 cents to the US Dollar. In a very, very short time, you wake up one day and find that the Euro is now suddently "worth" about $1.40 to the US dollar.
In Germany.
And - the rest of the basket case economies that lied to get into the EU were able to keep the ruse going for years, even thought the banks and the EU knew they had lied and were lying about their nation's balance sheet.
If that isn't manipulation, I don't what is.
Completely unexpected?
Nope!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.