Greece Calls for Activation of Financial Rescue Package

Greece Calls for Activation of Financial Rescue Package

www.nytimes.com

The Greek government formally requested an international funding package Friday aimed at pulling the euro-zone member out of a debt crisis.

Prime Minister George Papandreou announced on Greek television the activation of up to €45 billion, or $60 billion, in loans expected from the European Union and International Monetary Fund, Reuters reported.

(visit the link for the full news article)

looks like greece is now comleatly Insolvent expect riots and civil unrest to increase, I hope this stays in Grease and dos not spread through out Europe.


"The announcement means that funding from the I.M.F. can be expedited once the board of the Washington-based fund has approved the terms. The fund is expected to provide €12 billion, according to EU officials.

Up to €30 billion in loans pledged by Greece’s euro-zone partners are still awaiting approval by legislators in some of the countries. French lawmakers, for example, will discuss France’s 21 percent contribution early next month.

It is possible that Greece could seek to expedite some of the loans before negotiations are formally complete.

The yield on benchmark 10-year Greek government bonds fell to 8.1 percent Friday after the reports, having touched fresh record Thursday close to 9 percent. The Athens composite share index gained almost 4 percent around midday, with shares in Greek banks surging after their recent sharp declines."




www.nytimes.com
(visit the link for the full news article)

Well I really hope this contagion is contained, but then I hoped the sub-prime etc issues would be contained..

We will have to see what the real fall out from this will be and how the markets react..

Personally, I have always felt the next conflict would happen just prior to any next market crash.. on that I hope I am wrong as well..

reply to post by thoughtsfull


Agreed…. This bail out will only buy the Greeks time. There interest rate on there debt is unsustainable. They will not be able to provide basic services to there citizens. that’s when the machine brakes down and the poo hit’s the fan.
These are interesting times in witch we live. Lets hope we all live through them.

reply to post by thoughtsfull


I am wondering if there are any good books on the relation between World War II and the Great Depression. It would be interesting to compare the parallels between the current geo-political unrest and financial crisis and that of the same factors that led to the second world war in the 20s and 30s of last century.

reply to post by Mdv2


I cant think of any right off hand but this book would be a good place to start.
Lies the Government Told You: Myth, Power, and Deception in American History
By: Andrew P. Napolitano

So, the solution for getting Greece out of the debt problem is to get them more debt?

I mean, if a patient is dying from blood loss, do you bleed them more?

Greece is a sovereign country, how bout they file bankruptcy and call it a day.

It is only fiat money debt that they owe, is it not?

They already have the next generation in slavery, do they really need to put the next one in slavery also?

The bailing out of companies that are to big to fail have put everyone in the world on a course for the cliff, how bout the world saying that the IMF and the other mafia bankers can take their frelling cliff and shove it up their frelling ass?

Does the debt REALLY exist. Who is it owed to?

Time to wipe the slavery slate clean of the 100 elite bank owners debt control. Time to do it NOW!

I say we seize all assets and control of the banker thieves and call everything ALL GOOD. ALL EVEN. ALL DONE.

When will this madness end? You cannot continue to borrow against the future lives of the world for YOUR STUPID vision of utopia, dangled out there by these fascist bankers.

Fiat money based on DEBT cannot be maintained, EVER.

US future financial obligations, 110 Trillion and counting. What are you going to do about that? Interest on the current debt of over 500 Billion per year as we speak and CLIMBING.

This is NOT a future problem, it is a problem in the here and now.

Dominoes, watch them fall.

Originally posted by endisnighe
So, the solution for getting Greece out of the debt problem is to get them more debt?

I mean, if a patient is dying from blood loss, do you bleed them more?

Greece is a sovereign country, how bout they file bankruptcy and call it a day.

It is only fiat money debt that they owe, is it not?

They already have the next generation in slavery, do they really need to put the next one in slavery also?

The bailing out of companies that are to big to fail have put everyone in the world on a course for the cliff, how bout the world saying that the IMF and the other mafia bankers can take their frelling cliff and shove it up their frelling ass?

Does the debt REALLY exist. Who is it owed to?

Time to wipe the slavery slate clean of the 100 elite bank owners debt control. Time to do it NOW!

I say we seize all assets and control of the banker thieves and call everything ALL GOOD. ALL EVEN. ALL DONE.

When will this madness end? You cannot continue to borrow against the future lives of the world for YOUR STUPID vision of utopia, dangled out there by these fascist bankers.

Fiat money based on DEBT cannot be maintained, EVER.

US future financial obligations, 110 Trillion and counting. What are you going to do about that? Interest on the current debt of over 500 Billion per year as we speak and CLIMBING.

This is NOT a future problem, it is a problem in the here and now.

Dominoes, watch them fall.

they cant just wipe out the debt as they are in the euro...they are stuck...and thats the whole idea..

reply to post by alienesque


Yes, I know, but they can tell the Euro to stick it. They can tell their creditors to stick it.

Yes, the interconnected society the governments of the world have created, I wonder was that all planned? Of course it was. People just do not step back and just SEE.

Why is it that Iran has to be stopped? You do understand why don't you. How bout any other SELF SUSTAINING country?

That is why they have to be stopped, they are INDEPENDANT of the control parameters.

Tax and Control, this is all they want.

If a country can become self sustaining, this is the one place that cannot be allowed to continue.

When will the world's countries learn. Self sustaining independant enclaves are the only way to fight the elite control freaks of the NWO.

You cannot be interconnected, you cannot trade in FIAT money systems. You cannot fight the mafia banksters in their system. Every country will only survive in their systems SLAVES TO DEBT. FOREVER.

I am really beginning to wonder why the Muslims are being targeted. Is it because of their terrorist activities.

Or is it their belief that usury is a sin and abhorrent?

Kind of makes one wonder.

well its certaintly not a aid package for the greek people.

feedroom.businessweek.com...


looks like the intrest on the greek 10yr debt is about 8.8% that’s unbelievable!!!!!