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

The Giant Noodle

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Hole-LEE **** :doh


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
 
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!
 
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?
 
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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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
 
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:lol:
 
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.
 
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 :doh 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)
 
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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:lol:

They would probably go down the crapper...and that's the chance you take when you invest. The only thing a bailout will do is make it okay in the future to invest money in a losing proposition.

Investor 1: Let's dump a buncha money into this poorly run socialist country.

Investor 2: They're going to go belly up 'fore long.

Investor 1: So? Someone will bail us out.
 
They would probably go down the crapper...and that's the chance you take when you invest. The only thing a bailout will do is make it okay in the future to invest money in a losing proposition.

Investor 1: Let's dump a buncha money into this poorly run socialist country.

Investor 2: They're going to go belly up 'fore long.

Investor 1: So? Someone will bail us out.

So if you woke up one morning and you couldnt get any money from the ATM you would just think "meh, thats the risk i took"? I,l give you a hint, if banks go under, you cannot get money from banks any more. But ild agree that in the long run this way of doing things is neither sustainable or sensible,
 
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So if you woke up one morning and you couldnt get any money from the ATM you would just think "meh, thats the risk i took"? I,l give you a hint, if banks go under, you cannot get money from banks any more. But ild agree that in the long run this way of doing things is neither sustainable or sensible,

If I had voted for and believed in an entitlement government that was paying more money than it was bringing in, then I hope to God that I would, at that point, realize the error of my thinking. The Greeks made their bed, now they can lay in it.

If your government didn't work, then you got a bailout, are you going to realize that all the entitlements are breaking the bank and change your system, or are you to go on, business as usual saying, "aww hell, someone will bail us out".
 
If your government didn't work, then you got a bailout, are you going to realize that all the entitlements are breaking the bank and change your system, or are you to go on, business as usual saying, "aww hell, someone will bail us out".

If you are talking about Greece and are keeping up with the new laws they are creating, with changes in the regulations for the banking sector along with changes at about every level. So the answer would be, "change your system."

If youre saying the EU shouldnt bail out Greece because they won't change, the evidence doesn't support that.
 
Europe wanted to be big and bad with their Euro. Now their stuck with their decision. You wanted a union, you got a union....warts and all.
 
If I had voted for and believed in an entitlement government that was paying more money than it was bringing in, then I hope to God that I would, at that point, realize the error of my thinking. The Greeks made their bed, now they can lay in it.

If your government didn't work, then you got a bailout, are you going to realize that all the entitlements are breaking the bank and change your system, or are you to go on, business as usual saying, "aww hell, someone will bail us out".

No. The Germans and French did. Where do you think the debt came from in the first place?
German and French banks. Hence the willingness to bail Greece out.
 
Europe wanted to be big and bad with their Euro. Now their stuck with their decision. You wanted a union, you got a union....warts and all.

Hey, you guys pay for Wyoming....
 
Wow... almost a TRILLION dollars....
.
.
.
.
and NO ONE gives a crap!?!?!?!?! :(

****ing Europe's problem. What do you want me to do about it. The only thing that really sucks is that this will horribly alter the Euro's value and we trade a lot with Europe. I told them the Euro was a dumb idea, but they didn't want to listen.
 
ITT conservatives opposing countries making a choice to help each other.
 
No. The Germans and French did. Where do you think the debt came from in the first place?
German and French banks. Hence the willingness to bail Greece out.

Not so fast there Alvin. The US tax payer last year gave the IMF an extra $100,000,000,000..... so a very good case could be made that it is the US tax payer that is bailing out Greece.

Just saying.
 
Not so fast there Alvin. The US tax payer last year gave the IMF an extra $100,000,000,000..... so a very good case could be made that it is the US tax payer that is bailing out Greece.

Just saying.

Given that the US does not have a spare 100 billion, it is in fact the Chinese, Japanese, South Koreans, Saudi's and Taiwanese who are bailing out Greece
 
Given that the US does not have a spare 100 billion, it is in fact the Chinese, Japanese, South Koreans, Saudi's and Taiwanese who are bailing out Greece

Yeah, but it was charged to our credit card. Right?


Man, the stock market really loves government bailouts.
 
Given that the US does not have a spare 100 billion, it is in fact the Chinese, Japanese, South Koreans, Saudi's and Taiwanese who are bailing out Greece

OK..... but the US tax payer is still stuck with the 100 billion that Barry gave the IMF..... seems like 6 of one, a half dozen of the other. :mrgreen:
 
Hole-LEE **** :doh


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

Do you think Germany can bail out my State and help create some jobs here?
 
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