Posted on 05/29/2011 10:09:59 AM PDT by Nachum
Greece hasn't even filed for bankruptcy yet and the "unexpected" consequences are already coming. In comments to The Sunday Times newspaper, Irish Transport Minister Leo Varadkar said the country will likely need another "unexpected" loan from the troica, after he became the first cabinet member to cast doubt in public on Ireland's ability to raise cash. In other words once on the temporary bailout wagon, always on the temporary bailout gain. Reuters reports: "I think it's very unlikely we'll be able to go back next year. I think it might take a bit longer ... 2013 might be possible but who knows?" Varadkar was quoted as saying. "It would mean a second program (of loans from the EU/IMF)," he said. "Either an extension of the existing program or a second program. I think that would generally be most people's view." We wonder how German taxpayers will fell now that they realize they have not one, not two, but three (and soon 5 or more) heroin addicts they need to clean, wash, scrub, and feed on a monthly basis (with their, and US money, but Americans continue to not care that the biggest source of capital for the IMF is them). And speaking of ground zero, Greece is now scrambling after the Independent said that even Sarkozy is now prepared to let the Greek chips falls where they may. Following earlier news that the troika believes that the privatization plan it itself set up is not ambitious enough, Greece which now realizes that Germany, the EU, IMF, and Franch all are prepared to let it go,
(Excerpt) Read more at zerohedge.com ...
Guillotine time approaches.
As the economy slowly (or rapidly) sinks into the debt induced coma, the only institution left standing and the one that will be portrayed as the savior will be the Federal Government. So we will have a Federal Government and Fed induced fiscal and monetary catastrophe that will be solved by more powerful, bigger and intrusive government.
Everyone will work for the government and ultimate power will be achieved by the progressives, because if you want to eat, you will vote for the ones handing out the food.
The pain we need to endure to prevent this will not be borne by the American people it is sad to say. I hope I am wrong.
sschu
GimmegimmegimmegimmegimmewhenIrisheyesaresmilingtheGermanspaythebillgimmegimmegimmegimmegimme
What did Jefferson say about how in a democracy people get the kind of government they deserve. Unfortunately, there are more people who want their governments to be a lottery give-away rather than a responsibly run business.
We need some right now.
schu
I’m shocked that Obammy’s Homecoming tour (TM) didn’t open the skies and put a pot of gold at the end of countless Irish rainbows...
I guess the cost of hosting the two of them wasn’t such a great idea after all. Moose-shelle probably put an enormous dent in the Irish budget just for groceries alone...
Maybe the US could split up into the "Good" And "Bad" as well. Let us see which one is solvent and prosperous. And let there be an entrance exam in English only when the other side fails and the exodus begins.
True.
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