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Thread: Default threat remains despite Greece’s austerity vote

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    Default threat remains despite Greece’s austerity vote

    Default threat remains despite Greece’s austerity vote - The Globe and Mail

    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 IMF is now going to move in and begin its purchase of Greek assets. Greece should have followed Iceland's example.

    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.

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    Re: Default threat remains despite Greece’s austerity vote

    The lollipop kids are on acid again.

    Capitalism failed in GREECE? Lol.

    I have nothing else to say but lol.

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    Re: Default threat remains despite Greece’s austerity vote

    Quote Originally Posted by Temporal View Post
    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.

    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.
    Your claim that capitalism created the crisis in socialist Greece is ludicrous.


    Uncontrolled government spending combined with the Greek government misreporting economic statistics for several years, just so it could continue to spend beyond its means, created an international lack of confidence in the ability of Greece to pay back its debt. Throw in a worldwide recession, out of control public employee unions and citizens who think government should provide for all of their wants and needs and you get the inevitable disaster that has befallen Greece.

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

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    Re: Default threat remains despite Greece’s austerity vote

    Quote Originally Posted by GPS_Flex View Post
    Your claim that capitalism created the crisis in socialist Greece is ludicrous.


    Uncontrolled government spending combined with the Greek government misreporting economic statistics for several years, just so it could continue to spend beyond its means, created an international lack of confidence in the ability of Greece to pay back its debt. Throw in a worldwide recession, out of control public employee unions and citizens who think government should provide for all of their wants and needs and you get the inevitable disaster that has befallen Greece.
    who lent the greeks the money?


    The socialist greeks, or the capitalist banks that will fail when greece can no longer pay back its debt. Why where the the non greek lenders more carefull
    Happy Hanukkah Cheerfull Kwanzaa
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    Re: Default threat remains despite Greece’s austerity vote

    I think its cute the people that borrow money like pigs blame the people that grant their wish. Lets blame China for accepting our debt when we go under. I bet it will somehow make more sense than this line of reasoning.

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    Re: Default threat remains despite Greece’s austerity vote

    Quote Originally Posted by Lord Tammerlain View Post
    who lent the greeks the money?


    The socialist greeks, or the capitalist banks that will fail when greece can no longer pay back its debt. Why where the the non greek lenders more carefull
    I’m pretty sure socialists have banks too so I fail to see your point other than recognizing it as the mindless “I hate banks” drivel that most socialists espouse.

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

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    Re: Default threat remains despite Greece’s austerity vote

    The IMF and world bank is most likely culpable in the down fall of the Greek Economy. John Perkins will explain how they do it all the time.

    I have talked with John and I trust what he says to be true. This is very long if you want the whole truth but you can get the message in short order.

    Confessions of an Economic Hit Man


    Part two.

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