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Thread: Germany approves biggest cheque in history to save debt-swamped Greece

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    Germany approves biggest cheque in history to save debt-swamped Greece

    Hole-LEE ****


    German leaders today approved the country's share of the rescue package for debt-laden Greece after a boisterous debate in which the finance minister told them they had no alternative to the unpopular measure.
    The lower house of parliament voted 390-72, with 139 abstentions, to authorise granting as much as 22.4billion euros (19.5billion) in credit over three years.

    That is part of a wider 110billion euro (95.5billion) package backed by eurozone members and the International Monetary Fund.
    France, Italy, Spain and Portugal also approved their share of a the bailout to keep Greece from imminent default as the 16 leaders from countries using the euro headed for an evening summit in Brussels.



    Read more: http://www.dailymail.co.uk/news/worldnews/article-1274518/Greece-debt-crisis-Germany-approves-biggest-bailout-cheque-history.html#ixzz0nI9K795V
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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Wow... almost a TRILLION dollars....
    .
    .
    .
    .
    and NO ONE gives a crap!?!?!?!?!
    CORPORATE GREED AND UNION GREED
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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Another reason why we should pull our military from these socialist hell holes! **** Europe! Let Putin run roughshot all over these pieces of human filth!
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by chevydriver1123 View Post
    Another reason why we should pull our military from these socialist hell holes! **** Europe! Let Putin run roughshot all over these pieces of human filth!
    Um... you do realize that it was a U.S. initiative that created the original 45-member panel of the IMF, right? And that its headquarters are in your country?

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by Orion View Post
    Um... you do realize that it was a U.S. initiative that created the original 45-member panel of the IMF, right? And that its headquarters are in your country?
    Another large mistake.
    Like the UN.

    Roosevelt... sure did lard us up full of ****.
    Thanks for nothing (except the execution of WWII).
    War time central planning fit right into his socialist bent.

    The IMF came into existence on 27 December 1945, when 29 governments, responsible for 80% of the quotas to be contributed to the Fund, signed the IMF Articles of Agreement. An agreement with the UN, under which the IMF became a specialized agency, entered into force on 15 November 1947.

    Read more: Creation - The International Monetary Fund (IMF) - system, The Bretton Woods Conference Creation - The International Monetary Fund (IMF) - system, The Bretton Woods Conference
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    when you have NO MORAL COMPASS.

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by The Giant Noodle View Post
    Wow... almost a TRILLION dollars....
    .
    .
    .
    .
    and NO ONE gives a crap!?!?!?!?!
    Still way less than what you lot paid to bail-out wall street.
    PeteEU

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by The Giant Noodle View Post
    Wow... almost a TRILLION dollars....
    .
    .
    .
    .
    and NO ONE gives a crap!?!?!?!?!
    22.4 Billion Euros is worth almost a trillion dollars? That's actually only 28.448 Billion dollars...
    And the whole thing is only 110 billion, which is 139 billion dollars.
    Where is this number coming from?

    PeteEU is also right, thats far less than what the US government spend on major firms to keep them from collapsing. However like this situation and like our situation in the United States, there are no bailouts there are loans

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by The Giant Noodle View Post
    Wow... almost a TRILLION dollars....
    .
    .
    .
    .
    and NO ONE gives a crap!?!?!?!?!
    Letting Greece go under would be far more catastrophic. What do think would happen to banks, governments (local and national) and businesses that had investments in Greece? What do you think would happen if the crisis spread to the rest of Europe (and then eventually to the rest of the world)

    Im amazed that with todays economy people genuinely believe that what happens in Greece is not going to effect the rest of the world. Furthermore i find that right-wingers on this forum are attacking policies necessary for the preservation of capitalism as we know it, and lambasting them as socialist

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    you think that turning an entire nation into a welfare recipient is capitalism? corporatism is capitalism?

    nope. let the bond market enforce enough discipline on politicians.

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    Re: Germany approves biggest cheque in history to save debt-swamped Greece

    Quote Originally Posted by cpwill View Post
    you think that turning an entire nation into a welfare recipient is capitalism? corporatism is capitalism?

    nope. let the bond market enforce enough discipline on politicians.
    I think this crisis has demonstrated that capitalism is dependent on the state, as it always has been. Its only socialism in the sense that it gives money to coke-addled dysfunctional individuals that expect to be rewarded for their failure, namely investment bankers.

    Lets look at what has happened on a global level seriously. Bankers without enough money have lend money to people who did not have enough money, then suddenly everything went wrong What this has demonstrated is that these people cannot be trusted on their own.

    But this is hardly socialism, were talking about a tiny minority of the population ****ing up, then being bailed out by tax payers ( And bare in mind that the very richest, for the most part, avoid taxes through offshore tax havens) Many of ceo's of banks are still getting record bonuses while the rest of society has to pay for them , while at the same time losing access to decent public services. We,re talking about the organized transfer of wealth from the working and middle class to the rich, and yet its called socialism. And yet the genius of this whole thing is that as ever "its the rich what gets the pleasure, its the poor what gets the blame"

    But again lets think about what would happen if Greece was allowed to go under. Again bear in mind that if banks go under then people cannot get money from the bank. We would see mass destitution, a flow of refugees into the rest of Europe and a deterioration regarding the situation of the Albanian minority in Greece (and thus relations with Albania)

    As regards Greece's foreign debt it would be interesting to see how much of this debt was a result of military rule. There are many parts of the world that owe Greece a favor (and Germany is one of them)
    Last edited by Red_Dave; 05-08-10 at 04:25 PM.

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