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News Link • Economy - International

Ack! They Are Actually Going To Let Greece Default!

I wish that I had an "aha moment" to share with you today, but instead all I have is an "ack moment" to share.  As I was analyzing all of the info coming out of Europe in recent days, I came to the following realization: "Ack! They are actually going to let Greece default!"  The only question is whether it is going to be an orderly default or a disorderly default.  Of course the EU (led by Germany) could save Greece financially if it wanted to.  But Germany has decided against that course of action.  Many in the German government are sick and tired of pouring bailouts into Greece and then watching Greek politicians fail to fully implement the austerity measures that were agreed upon.  At this point a lot of German politicians are talking as if a Greek default is a foregone conclusion.   For example, Michael Fuchs, the deputy leader of Angela Merkel's political party, recently made the following statement: "I don't think that Greece, in its current condition, can be saved."  But that is not entirely accurate.  Greece could be saved, but the Germans don't want to make the deep financial sacrifices necessary to save Greece.  So instead they are going to let Greece default.

Many prominent voices in the financial world that have been watching all of this play out are now openly declaring the Greece is about to default.  Moritz Kraemer, the head of S&P's European sovereign ratings unit, made the following statement on Bloomberg Television on Monday: "Greece will default very shortly. Whether there will be a solution at the end of the current rocky negotiations I cannot say."

You might want to go back and read that again.


2 Comments in Response to

Comment by Lola Flores
Entered on:

"Ack! They are actually going to let Greece default!"  

No, they won't.  Far from it.  If "they" let Greece default, "they" lose and the Greeks win.  Please refer to Iceland circa 2007 and Argentina circa 2000.  If anything, they've got Greece well under control and right where they wanted it:  in the hands of a technochract (please read as "a banksters's coupe") and the people of Greece are now forever indebted thru debt to the international banking cartel.  Italy is already in the bag.  Next will be Spain.  The US will soon follow suit...particularly, if Wall Street manages to fudge the election again and put the Oven Mitt in the White House.

Comment by Ed Price
Entered on:

Ho hum tee-dee (yawn). Germany lost WWI. They were torn up, more or less. They lost WWII. They were totally fragmented, and Berlin was split for several decades, into two separate parts. Now they are the ones who are declaring that Greece will default?

It isn't really the German people behind this. It's a bunch of bankers who are trying to rape the world. Their plans aren't working out so well.

Remember these all-important parts of any supposed default, etc.:
1. There are multitudes of people who are willing to work;
2. There is an almost unending supply of natural resources;
3. The knowledge and technology are readily available for the people to use the natural resources any way they might please.

So, where is the problem? Isn't it the Big Banks, and Big Business, who are stealing from the people so that all their hard labor and good will isn't producing anything of value for them?

War doesn't do any good (generally). War destroys much of the advancements made by big business and the banks. Rape of nations works a lot better when there is peace. They (the banks) have learned how to keep their present-day Hitlers under control so that we don't have a big destructive mess like in WWII. Now their rape can proceed much easier.

However, isn't there some telltale sign that maybe their whole system is failing, falling apart right before their eyes?

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