Sunday, June 5, 2011

Let the Greeks go bust

Greece: there is a method in this madness

"Saving" Greece is not in fact saving it, but a money transfer machine from taxpayers pockets to the bankers' coffers. Glad our government refused to join this scheme. (But City may still twist the arms of the Chancellor to change his mind.)

Posted by ant @ 02:14 PM (1598 views)
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6 thoughts on “Let the Greeks go bust

  • ‘Glad our government refused to join this scheme.’

    ~ Much like Ireland. Sorry wrong answer, please try again!

    And the referendum??? We could always do it electronically if all else fails.

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  • Why are Europe’s banks so vulnerable to default by the government of a country that accounts for under 3% of eurozone GDP? It’s because the regulators assumed that (any) government debt was risk-free (a pre-euro assumption based on governments’ paying off debt in their own currencies), so banks didn’t have to create additional reserves against the government bonds they held. Furthermore, such bonds were considered relatively liquid. Banks therefore gorged on such bonds – about a third of public debt in euroland is held by banks – and the banking system therefore became highly sensitive to any sovereign default. Finance ministers could claim that the low debt-financing cost resulting from such demand from banks was a good thing for taxpayers. Oh dear.

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  • Why can’t the whole of the eurozone just default on all it’s debt? The banks would live to fight another day (after all they’ve been bailed out) and the poor old taxpayer would be more likely to start spending again and it’s a return to normal.

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  • happy mondays says:

    @ 2, Because the whole thing will be seen a the sham it is.. Can you imagine the population all defaulting on there debts as what’s good for the Goose.
    The financial sector & governments are sweatier than a Glass blowers Ars* at the moment

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  • 2. alan_540,

    Which countries would be willing to fund the New World Order knowingly?

    Defaults, tax cuts = end of the international corporate war machine.

    Let them foot the bill and let the cowardly traitors show their faces to the slower members of our population.

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  • 3. happy mondays

    Along with T Blair for setting up Gaddafi for a Goldman Sachs double scam.

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