Posted on 11/03/2011 6:26:25 AM PDT by John W
The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout with turmoil in the ruling party casting grave doubt on whether Prime Minister George Papandreou can survive a confidence vote.
(Excerpt) Read more at msnbc.msn.com ...
My 401K hates Greece.
Prime Minister George Papandreou to offer resignation.
http://www.bbc.co.uk/news/world-15575198
I guess if you can get off the Hindenbug and make a run for it, you better!
LOL!
Merkel blasts ‘lazy’ Greece and Portugal
http://www.eutimes.net/2011/05/merkel-blasts-lazy-greece-and-portugal/
German Chancellor Angela Merkel has this week sparked a wave of outrage across Europe by calling on Portugal, Spain and Greece to raise their retirement ages and reduce their leave. She warned that German aid to these countries could be cast into doubt should southern European countries fail to adopt the work ethic of her countrymen.
“It’s not just about getting any further into debt in countries such as Greece, Spain and Portugal, people should not be allowed to receive pension before their German counterparts”, Angela Merkel told supporters at a political rally in Germany.
“We all have to put in some effort. This is important, we cannot have the same currency, yet some have an abundance of holiday leave and others have very little”, reasoned the German Chancellor.
“We cannot stand by these countries and allow them to act the way they have up until now. Germany will help, but only if these countries demonstrate they are putting in the necessary effort”, added the Chancellor.
The Greeks intend to give everybody a haircut.
In the world.
Oh, how heartless and cruel!
She wants them to actually WORK for aid!..............
The Luftwaffe is warming their engines...........
Italy is calling for Berlusconi’s resignation too...
Shouldn't be a problem, since he's a confidence man.
So collapse already! Let’s get it over with.
Tuesday, November 1, 2011, 4:54 pm, by cmartenson
I am issuing an Alert tonight. After examining the data, I have come to the conclusion that the possibility of a European centered systemic banking crisis is unacceptably high and that there are certain actions you should take.
For my new subscribers, I will only send an Alert when I am personally moved to action, or would be if I were not already as prepared as I am. That is, the point of an Alert is action. I do not wish to add to anxiety, especially unnecessarily, and take my responsibiliites in this regard very seriously.
That said, tomorrow I am going to get more cash from the bank to hold in reserve until things clear up (or break down). The idea here is that cash will be a very useful commodity to hold and then deploy should the banking system suffer some sort of a freeze-up for any length of time.
The risk now is that the Greece situation spills over into Portugal, Italy and Spain; if only because more people wake up to the idea that these economies are just as incapable of servicing their outstanding debt as Greece. The warning signs are as ominous as any since the crisis began in August of 2007.....
MUST.NOT.LET.THE.PEOPLE.VOTE
I agree!
When isn't it? That should be a standing headline.
It would be a civil war between the ‘have nots’ and the ain’t gots’............
MSNBC update: Greece’s Prime Minister Papandreou says he won’t resign, amid demands that he steps down and let a coalition government move forward on the European bailout plan.om
Maybe a collapse will be the best thing that could happen to them in the long run. The bailouts need to end, they need to take the fall for their bad policies and behavior. Only then will they learn from them and correct them.
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.