Default threat remains despite Greece’s austerity vote - The Globe and Mail
The IMF is now going to move in and begin its purchase of Greek assets. Greece should have followed Iceland's example.Greece has pulled back from the brink of collapse, but still faces the real threat of an eventual credit default that could easily plunge the euro zone into bedlam.
Prime Minister George Papandreou’s socialist government won a crucial parliamentary vote Wednesday to support a €28-billion ($39.2-billion) austerity program. Mr. Papandreou’s 155-138 vote victory opens the door to a fresh bailout from the European Union and the International Monetary Fund, which had made any new funds conditional on a “yes” vote, to be followed Thursday by approval of the legislation that would implement the severe cutbacks.
The private banking cartel created the toxic assets which destroyed the world economy, banksters got bailed out with taxpayers money in the US, now the same story repeats in Europe - where Banksters will get more billions on top of the trillions all paid by taxpayers money.
It's the biggest transfer of wealth and monetary ponzi scheme ever.
On top of that the invisible hand of the private banking cartel, the IMF will privatize every source of income that Greece has. Can you say DISASTER CAPITALISM? Create the problem and fix it in a way which benefits the ones who created the problem to begin with.
People pay with austerity while Banksters and Wall Street gangsters fill their pockets with stolen taxpayers money.
The bailout is not for Greece, it's a bailout to bond holders and the Private Banking Cartel. Capitalism failed and Socialism has to bail them out.
The world needs to wake up to what is happening or this same problem could be on our doorstep before long.