Woman writes 'closed due to usery' at branch of Eurobank in Athens
Posted on 02/26/2010 9:00:39 PM PST by bruinbirdman
He made the comments following a visit by European Union inspectors, who delivered a grim assessment of the Greek economy.
Mr Papandreou said that the previous Conservative administration had "fled from its responsibilities", understating the budget deficit by half.
Woman writes 'closed due to usery' at branch of Eurobank in Athens
"The damage is incalculable. It is not only financial or fiscal but also affects the position of the state," he said.
"Our duty today is to forget about the political cost and think only about the survival of our country. Past policies make it necessary to proceed to brutal changes and reduce accumulated privileges."
Mr Papandreou announced that he would meet Angela Merkel, the German Chancellor, next week, amid growing signs that diplomatic efforts are underway to find a solution to Greece's problems. He also met Josef Ackermann, Deutsche Bank's chief executive.
However, the Greek prime minister insisted that his country would find a solution to its financial problems.
"We ask the EU for its solidarity and they ask us to meet our obligations. We will meet our obligations ... we will demand European community solidarity and I believe we will get it," he said.
"No other country will pay for our debts," he said. "It is a matter of honour and pride for our country to put our own house in order."
Greece's debt problems have put pressure on the euro and have triggered jitters in world markets, as fears that the country will default on its debt persist, which would potentially destabilise a global recovery.
In a sign of how much of an impact Greece's problems are having elsewhere, Mr Papandreou will also meet President Barack Obama.
Concern over Greece has been mounting since the government warned the deficit is running at 12.7pc
(Excerpt) Read more at telegraph.co.uk ...
"there's no one in @#$%ing charge here, let's just get moving"--Captain Willard, Apocalypse Now
Ruben: Are you an assassin?Bernanke: I'm a soldierRuben: You're neither; you're an errand boy sent by grocery clerks to collect the bill.
Papanddreou and Obama
Another Socialist Summit.
Note the Chicago connection. Papandreou’s father was also a Greek PM, after he had been a virulently Anti-American Univ. of Chicago Professor.
"...fraud, you probably think their should be rules against it, I think the market will figure it out."--Alan "The Wizard" Greenspan.
Exactly right.
“The writing on the bank looks like Buenos Aires 2002.”
Bullet holes next.
Does look similar. Actually its the exact same; middle class protesting, painitng the front of the banks and such.
Same happened with Iceland and its a pretty typical financial collapse patern. The consequences are many and long term, its not only the lost trust in the institutions, socially speaking its an enitre generation that will have it on thier backs.
FerFAL
I don’t think it’s over by a long shot for Greece, Argentina, the USA etc.
Horrific editing.
The word is usury, not usery.
Maybe they should host the Olympics...that should give the economy a boost.
There is oil in the Aegean.
That is why Turkey does they flyover stunts and a few years back Greece and Turkey almost went to war when turkey TRIED to float an oil exploration ship in Greek territorial waters.
the olympic renovation projects gave the corrupt ruling families a boost. The LOCAL construction companies were screwed.
Think Chicago “infrastructure” projects.
That's assuming I'm even alive to attempt it.
“Nothing lasts forever.”
Olive Oil?
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