Posted on 09/25/2011 1:02:52 AM PDT by AnAmericanAbroad
Greek Finance Minister Evangelos Venizelos sought to reassure nervous markets and EU partners on Saturday by pledging his debt-ridden country would do whatever it takes to avoid default and stay in the euro zone.
During an IMF meeting in Washington that was dominated by fears that Greek debt woes could trigger a wider European crisis, threatening banks and hurting the world economy, Venizelos dismissed any talk of bankruptcy.
(Excerpt) Read more at zeenews.india.com ...
Isn’t that akin to what the thieves at Solyndra said just two months before declaring the big B?
So Greece pledges to let the other euros bail them out?
Woo ****ing hooo
He’s trying to boost confidence, which means that there’s probably a risk of this happening.
Spain, Portugal and Italy are waiting in the wings.
The EU has no constitutional way to cut Greece loose or any of the others
Come bail away, come bail away, come bail away with me lads.
I find it hard to imagine that sunny Greece is the straw that would break the euros back. but Spain is a different matter.
Gotta light?
Usually such absolutist “not going to happen” talk is not a good portender. As they say... “Pride cometh before a fall”.
It's like a politician down 15 points in the polls on the eve of an election. What else is he supposed to say?
Sounds like a threat.
So how does Venizelos plan to reassure all those nervous Greeks that they can continue to live beyond their means?
Wasn't it the Greeks who invented the concept of hubris?
You are correct. However, I read that a possible way to get around the EU Constitution on this is by instituting a two-tier Euro; a Southern Euro and a Northern Euro, each allowed to float up or down to it's natural value independent of the other. It's essentially a method of creating separate monetary systems while staying within the EU's legal structure. Guess it may be the next best thing to booting the PIIGS out and letting the flounder on the backs of their own curriences. Don't know......
You are correct. However, I read that a possible way to get around the EU Constitution on this is by instituting a two-tier Euro; a Southern Euro and a Northern Euro, each allowed to float up or down to it's natural value independent of the other. It's essentially a method of creating separate monetary systems while staying within the EU's legal structure. Guess it may be the next best thing to booting the PIIGS out and letting them flounder on the backs of their own curriences. Don't know......
And what Dodd and Frank said about Fannie and Freddie a few months before today's situation first burst into being...I keep hearing how Europe is bringing us down - I think it's really the other way aroud - we aided and abbetted them and when they, like Solyndra, went over the cliff anyway, we were far too invested to be able to save our own skins.
I’ll see that when I believe it!
Months ago a freeper posted about such a plan and said it was already developed and ready to go.
At the time it sounded like tin hat stuff.
Kinda’ of like your kid living on an allowance in your basement....vowing to never leave home or get a job
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