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greek mess

How can we solve it? (keep it civilized)

Re: greek mess

Postby wyoming cowboy » Sun Jul 29, 2012 2:40 am

Not Greece or any other Eu member state will declare a default. The plan is being negotiated where liquidity will be given to Eu banks hence ending this crisis. The Germans want to squeeze as many concessions from the rest of the Eu as possible making the Eu central bank more powerful and controlling as is the Federal Reserve bank in the usa.

There are negotiations to rid the Eu of this crisis.."The European Redemption Pact" is in focus.


the first paragraph of the Pact:

"..... The European Redemption Pact (ERP), a proposal of the German Council of
Economic Experts, describes an exit strategy from the debt crisis which currently plagues the
Euro-Area. The pact includes a binding commitment of all participating countries to bring
public debt ratios below the reference value of 60 % within the next 20 to 25 years. To ensure
that this objective can be reached with realistic primary balances, participating countries can
transfer their excessive debt exceeding the 60 % threshold at a certain date, into a redemption
fund for which participating member countries are jointly and severally liable. In this
technical paper, we describe in detail one possible way of implementing the ERP and the
primary balances each country would need to achieve under the proposal....."

Basically any debt over 60% of GDP gets transferred to the fund. With economic growth expected, a certain percentage of the growth will be used to pay the debt down by individual countries.


http://www.telegraph.co.uk/finance/fina ... ption.html

This article also envisions a collateral of a countries gold reserves in making loan payments for the next 20 years....(initially the time frame was 35 years)
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Re: greek mess

Postby boomerang » Sun Jul 29, 2012 11:17 am

Image

:lol:
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Re: greek mess

Postby wyoming cowboy » Sun Jul 29, 2012 5:27 pm

wyoming cowboy wrote:Not Greece or any other Eu member state will declare a default. The plan is being negotiated where liquidity will be given to Eu banks hence ending this crisis. The Germans want to squeeze as many concessions from the rest of the Eu as possible making the Eu central bank more powerful and controlling as is the Federal Reserve bank in the usa.

There are negotiations to rid the Eu of this crisis.."The European Redemption Pact" is in focus.


the first paragraph of the Pact:

"..... The European Redemption Pact (ERP), a proposal of the German Council of
Economic Experts, describes an exit strategy from the debt crisis which currently plagues the
Euro-Area. The pact includes a binding commitment of all participating countries to bring
public debt ratios below the reference value of 60 % within the next 20 to 25 years. To ensure
that this objective can be reached with realistic primary balances, participating countries can
transfer their excessive debt exceeding the 60 % threshold at a certain date, into a redemption
fund for which participating member countries are jointly and severally liable. In this
technical paper, we describe in detail one possible way of implementing the ERP and the
primary balances each country would need to achieve under the proposal....."

Basically any debt over 60% of GDP gets transferred to the fund. With economic growth expected, a certain percentage of the growth will be used to pay the debt down by individual countries.


http://www.telegraph.co.uk/finance/fina ... ption.html

This article also envisions a collateral of a countries gold reserves in making loan payments for the next 20 years....(initially the time frame was 35 years)


Since the Eu is doing its best to mimic the usa, with their own version of QE's, then their most important asset in their endeavor would be to hold onto Greece+Cyprus. The natural resources these two members hold can give the Eu the hedge against printing euros, in the long run. The usa is destined to become the number 1 energy producer in the world , through natural gas and petroleum. The Eu will probably follow the USA's example there also...

http://www.bloomberg.com/news/2012-02-0 ... oducer.htm
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Re: greek mess

Postby ZoC » Sun Jul 29, 2012 7:00 pm

ZoC-Wed Jun 22, 2011 7:42 am wrote:i think a special tax should be levied in cyprus (on those cypriots who will not betray the greek nation only mind), to help replace the wealth that's been plundered by these rats. a tax on the stupid.


prescient or wot?
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Re: greek mess

Postby wyoming cowboy » Sun Jul 29, 2012 7:07 pm

ye of little faith, stop jerking off in front of cnn
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Re: greek mess

Postby supporttheunderdog » Mon Aug 06, 2012 5:56 am

Against a background of more austerity mesaures a German Minisier has called for Greece to leave the Euro by the year- end
http://www.telegraph.co.uk/finance/financialcrisis/9454255/Debt-crisis-threatens-to-break-up-Europe.html
[url]The divisions within Europe were laid out in the weekend’s German press, where German regional finance minister, Markus Soeder, said that aid to Greece should be stopped. “When a country like Greece on a continuing basis cannot pay back debts, it must leave the eurozone,” he said. “Greece should quit by the end of the year.”[/url]
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Re: greek mess

Postby kurupetos » Mon Aug 06, 2012 12:21 pm

boomerang wrote:Image

:lol:

I agree, but have in mind that those are commie flags. :wink:

Image
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Re: greek mess

Postby supporttheunderdog » Mon Aug 06, 2012 1:47 pm

I believe Tsipras is talking of a Greek default and a return to the Drachma while Papariga is talking about disengagement from the EU and unilateral write-off of debt (i.e. default.) In that case our banks end up ot just with a haircut, but well and truly shaved, pubes and all.
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Re: greek mess

Postby kimon07 » Mon Aug 06, 2012 10:50 pm

supporttheunderdog wrote:I believe Tsipras is talking of a Greek default and a return to the Drachma....


Not any more.

.......while Papariga.....


Who? :lol:
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Re: greek mess

Postby supporttheunderdog » Wed Aug 15, 2012 12:52 am

read this -
http://www.dailymail.co.uk/news/article-2188453/The-case-Europe-MEP-Daniel-Hannan-reveals-disturbing-contempt-democracy-heart-EU.html

Meanwhile, Greece and Italy suffered what amounted to Brussels-backed coups as elected prime ministers were toppled and replaced with Eurocrats.

In Athens, George Papandreou’s mistake was to call for a referendum on Greece’s austerity deal - a move which was to prompt fury in Brussels where, as we have seen, the first rule is ‘no referendums - unless we can fix the result’.

Papandreou was not a Eurosceptic. On the contrary, he fervently wanted Greece to stay in the euro. His ‘sin’ was to be too keen on democracy, and so he was out


and some want closer EU integration?
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