Greece bailouts : 136% of GDP

And most of the money goes to the banksters.

The Cost Of The Combined Greek Bailout Just Rose To €320 Billion In Secured Debt, Or 136% Of Greek GDP

Some of our German readers may be laboring under the impression that following the €110 billion first Greek bailout agreed upon and executed in May 2010, the second Greek bailout would cost a "mere" €130 billion. Alas we have news for you - as of this morning, the formal cost of rescuing Greece for the adjusted adjusted adjusted second time has just risen to €145 billion, €175 billion, a whopping €210 billion, bringing the total explicit cost of all Greek bailout funds to date (and many more in store) to €320 billion. Which incidentally is a little more than Greek GDP (which however is declining rapidly) at 310 billion, only in dollars. So as of today, merely the ratio of the Greek DIP loan (Debtor In Possession, because Greece is after all broke) has reached a whopping ratio of 136% Debt to GDP. This excludes any standing debt which is for all intents and purposes worthless. This is secured debt, which means that if every dollar in assets generating one dollar in GDP were to be liquidated and Greece sold off entirely in part or whole to Goldman Sachs et al, there would still be a 36% shortfall to the Troika, EFSF, ECB and whoever else funds the DIP loan (i.e., European and US taxpayers)! Another way of putting this disturbing fact is that global bankers now have a priming lien on 136% of Greek GDP - the entire country and then some now officially belongs to the world banking syndicate.

Where the money is going :



So basically, 71% of the bailout money ends up in the banksters hands... and the Greek and European taxpayers have to pay for it... turning them into debt slaves. Ain't it grand?

Default , in an orderly way or default in a chaotic way just get the hell out is the universal message to our Greek brothers and sisters , end this monetary bondage that is killing Greece.

reply to post by Vitchilo

I seem many on this forum attempting to say the bailouts are necessary and it is all their own fault. (An opinion I personally have never held) Not being the economist type, I would be interested to know how long this bail out money will last them. 1 year? 10 years?

reply to post by Droidinvoid


If only this was an option. "Default" is a legal term, if it is used in this case, it will trigger a derivatives avalanche. Those who bet the whole greek fiasco will need to be "paid" because a default was achieved - yes achieved. If there is a write down, there will be no trigger.

If the default happens, chaos will ensue, and I mean chaos. If there is a write down, the chaos is postponed for while at least - how long is a guess.

And while folks may relish the idea of collapse of the banking system, who doesn't but the 1 percent, the chaos will be too much to bear for those who want it collapsed. Russia collapsed and no on loved it, no one. Iceland recently collapsed and no one loved it. So those who just love the idea of the bankers getting theirs by the the system crashing don't realize it isn't any fun at all, and there is no waking up in the morning laughing and shouting - "see, I told you, you deserve it!"

Keep in mind, it isn't the default that is the actual problem it is the BETS, straight up gambling bets, that are tied to the default of any nation that are the problem - trillions of dollars of bets waiting to be put in play when a default is finally achieved.

reply to post by Vitchilo

So, if Tyler is right and Merkel really made up her mind that letting Greece go is the better option... what do you ATSers think will happen on Sunday?

It's strange, the total debt was about 320billion right? so why not just give 50% of that debt as a gift (with 0% interest), that seems cheaper! then their credit ratings (with only 68% debt/gdp) would go up, so then they can pay their bills and if the economy grows again they can start to repay it.

So they got a bailout as much as their total debt in new loans which basicly makes their total debt 640 billion?
Or am I missing something..

Are our politicians crazy and blind?

Anyways, in my opinion, this was just an orchestrated attack on the EU, first Iceland as some practise, then Greece and so on, wallstreet, rating agency's and even maybe political (they got them in their pocket, following their wishes), it's all connected. Money = power, and we got clueless politcians here in Europe with no leadership, just followers.

Also see:
www.youtube.com...

Originally posted by ColCurious
reply to post by Vitchilo

 

So, if Tyler is right and Merkel really made up her mind that letting Greece go is the better option... what do you ATSers think will happen on Sunday?

Maybe surprise default.

The ``end date`` is March 20. So they still have plenty of time to screw the Greek people over and give the control of the economy over to the EU, killing all democracy in Greece.

Of course now that the cops have said NO SIR if they do that, they might have a coup d'état on their hands...

I think this ain't over...

reply to post by crankyoldman


I hear what you are saying .....but a write down is putting a sticking plaster on an open wound as far as the greek people are concerned , I understand about the bets regarding a default , someone makes money whatever way it goes , Greece is about to blow one way or the other, then the Portugal , Ireland , Italy etc , the sh** will hit the fan.

The whole thing will play out tomorrow.

Everybody thinks, hopes and prays that the deal will pass the Greek Parliament. If they vote NO tomorrow, prepare for Glory

On Monday everybody will be running for their lives... this is going to be catastrophic. (for the markets that is)

I personally hope for my country that they will vote NO. We will be driven to default one way or the other. There just is no 'worse' for us. But since we're going to default, let us do it ourselves. Enough of this! It wouldn't be the first time and we survived it back then, too

Originally posted by Hellas
The whole thing will play out tomorrow.

Everybody thinks, hopes and prays that the deal will pass the Greek Parliament. If they vote NO tomorrow, prepare for Glory

On Monday everybody will be running for their lives... this is going to be catastrophic. (for the markets that is)

I personally hope for my country that they will vote NO. We will be driven to default one way or the other. There just is no 'worse' for us. But since we're going to default, let us do it ourselves. Enough of this! It wouldn't be the first time and we survived it back then, too

edit on 11-2-2012 by Hellas because: (no reason given)

Added to the mix is that 13% of Greek cabinet ministers resigned Friday. This will clear the path to push in 5 new lackeys who will embrace this governments plan. I agree with Vitchilo this will pass and drag out even more. Even if it does pass, at the rate they are slashing jobs there won't be anyone left to pay taxes (for those that do of course).

brill

reply to post by brill

Added to the mix is that 13% of Greek cabinet ministers resigned Friday. This will clear the path to push in 5 new lackeys who will embrace this governments plan. I agree with Vitchilo this will pass and drag out even more. Even if it did pass, at the rate they are slashing jobs there won't be anyone left to pay taxes (for those that do of course).

brill

Unfortunately that has nothing to do with the vote, since some of those who resigned said that they're going to vote YES

ΕΤΑ: They resigned from their positions, but still are members of the Parliament thus they get to vote anyway

Originally posted by Hellas
reply to post by brill

 

Added to the mix is that 13% of Greek cabinet ministers resigned Friday. This will clear the path to push in 5 new lackeys who will embrace this governments plan. I agree with Vitchilo this will pass and drag out even more. Even if it did pass, at the rate they are slashing jobs there won't be anyone left to pay taxes (for those that do of course).
brill

Unfortunately that has nothing to do with the vote, since some of those who resigned said that they're going to vote YES

I've learned 3 things in life:

a) never play cards with someone who's first name begins with a city
b) never trust a man with a perm
c) never trust a Greek

One could argue b/c are synonymous but my point is that they say one thing and do another. Plus they're politicians, its in their DNA to lie.

brill

Originally posted by Hellas
ΕΤΑ: They resigned from their parties, but still are members of the Parliament thus they get to vote anyway

edit on 11-2-2012 by Hellas because: (no reason given)

Was not aware of this, thanks.


brill

Where were the clear heads when the Greek government was spending there way into this mess?

Shouldn't come as a surprise to see the bankers getting the bailout money if they are the same bankers that lent the spend crazy government the money in the first place , no?

There is much wrong with how things happened in Greece but why do people wait until things get to the point of no return before crying foul ?

Are the bankers crooks ? Why yes they are !

Are the people wrong for taking on to much personal dept and allowing / demanding governments to provide for there every need , from cradle to grave ? Why yes again .

As long as we all want something for nothing and are willing to sign away tomorrow for today we will see much more of this type of thing happen . Once the dust settles , we will see extream socialist government take over with regulation governing most aspects of day to day life .

reply to post by Plugin


It was never about ``helping`` Greece. It was always about enslaving them to the banksters.

reply to post by crankyoldman

Keep in mind, it isn't the default that is the actual problem it is the BETS, straight up gambling bets, that are tied to the default of any nation that are the problem - trillions of dollars of bets waiting to be put in play when a default is finally achieved.

That's easy to fix. Make derivatives illegal.

But of course they won't do that since the governments are sellouts.

reply to post by LightSpeedDriver


Probably less than a year.

That's the whole plan. Put Greece in debt so much that the bailouts don't last and then they have to become more and more in debt.

And to all the nitwits blaming the Greek for this... guess what folks, your own government did the same thing to you... will you want the world to blame your people when it's YOUR government spending your country into oblivion?? Of course it's not ALL the government's fault... the citizen have a duty to KICK THOSE BASTARDS OUT if they continue to screw you... but since that has not happened in any western country (except Iceland) well you are as bad as the Greek.

Same thing going in America, Japan, UK, France... even Germany... all their banks are over-leveraged and when they blow, they bring down the whole country down with them.

We are ALL Greece. Greece is just at the end of the marathon of debt... The US, UK, France, Germany and Japan are already there but the reality has yet to sink in... Italy, Spain, Ireland and Portugal are already there but reality is not fully there yet but it has started...

Originally posted by crankyoldman
reply to post by Droidinvoid

 

Russia collapsed and no on loved it, no one. Iceland recently collapsed and no one loved it.

I'm not an economist, but one question springs to mind.

After a few years of hardship how are those countries you mentioned doing now ?

Message to the greek people, tell the bankers to sod off, it will hurt for a few years but its not like you are not hurting now.

reply to post by Vitchilo


The reasons are to enslave us as you mentioned and taking our natural ressources

I agree, i wouldnt get on mu high horse about greek spending their way into the poor house....
Much of these international bankster payday loans are simple comjobs ....The people whould actually look at the bretton woods agreement the nations all signed giving all the power to the big banks years ago......
When it come right down to it
Its the Fed and the Rothschilds and the other .01% who run the BIS and profits off of it have never ever been taxed or even disclosed......
There is real manipulation going on that most people would never agree to participate in privately, but they have signed the people into slavery like idiots.And we know they are not!
All this slight of hand by the international money guys should simply be ignored, and the Big Boys can carry the can.....simply eliminate the debts of every country that has had to borrow from these blood suckers....
Private debt could be simply reduced to repaying withour compounded interests....
Everyone might have a chance to catch up then.....