Posted on 03/05/2010 1:57:14 PM PST by C19fan
Greece's chances of being thrown a financial lifeline were dealt a heavy blow today as German economy minister Rainer Bruerderle warned Berlin has no intention of offering Athens a single cent in financial aid. The debt-laden country has been forced to plead with Germany and other European Union partners for a bailout to help it lower its spiralling borrowing costs. But Mr Bruerderle said at an event in Berlin: 'The German government does not intend to give a cent.'
(Excerpt) Read more at dailymail.co.uk ...
Interesting. Thanks for posting.
But, but......since they all have accepted socialism, aren’t they supposed to support each other with their own money? Dam.......does that mean it doesn’t work that way? When will people wake up. Socialism has never worked. Just check history in any country you want, any time period you want.
Thor hammers Zeus. Down goes Zeus! Down goes Zeus! Down goes Zeus!
Yup. Utterly and shamelessly for show. Officially, no bailout for Greece...in reality, though...German private lenders are being ordered to buy up Greek debt. Today’s Greek debt auction was even **oversubscribed** by the German private lenders!
And why not?! From the perspective of the German private lenders, they’ll get bailed out by the German government if/when Greece defaults. In the meantime, they get 7% interest from Greece.
Can’t lose.
Germans are much less hostile to bailing out private German lenders than to bailing out Greece directly, so the EU is being indirect (read: duplicitous).
OR is AIG still involved?
Good one!
Well, at least the krauts’ were honest LOL. Wished they would have worded it politely but what the heck, Sit back while Greece goes 300’ on the krauts..
No, I think the Germans mean it. Greece is like the unemployed brother in law who lives in your basement. He asks for $1000 to tide him over until he gets a job.
He’s not going to get a job.
LOL!
Time to take some of Greece’s “national treasures” to the pawn shop and put some money in the coffers.
I read one German minister who said “The average German civil servant retires at age 67, in Greece it is 55...there is no way the German people will stand by why we subsidize THAT”. Bravo. I hope they give Greece the shaft. Let them sell Mykonos.
Greece has a hugh public sector that receives 14 monthly pay checks a year! Early Retirement at 50ish! Crazy borrowing with no prospect of loan repayment. Hmmm, California!
The EU wants the IMF to do it.
Greece?
very appropriate
Will the EU take from the “haves” and give to the “have nots?”
A hugh public debt? That is stuning!
Questions for those who know. The EU as a whole has a public debt of 62% compared to the US public debt of 52%. The intergovernmental debt is 30% in the US, what is the intergovernmental debts in the EU?
Germany is in no mood for this after pouring billions into the east germany reconciliation project. The east germans, still clinging to communist ideals when it comes to work lazily sit around around collecting an endless stream of government benefits and produce very little.
Greece is also one of the most corrupt countries in Europe. It cooked the GDP books to gain EU membership in the first place, and now expects to be taken care of while its done nothing to reduce its economic and corruption problems. It takes massive bribes to get anything done in the country, job and private business growth is abysmal, while the government keeps growing bigger in size.
Germany, now that more conservatives are in charge and have a bigger majority, are refusing to throw more money at a bad investment. Good for Germany.
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.