Germany drawing up plans for Greece to leave the euro

thebman

But the severe austerity measures being demanded have caused such fury in Greece, and the cuts required are so deep, that Wolfgang Schäuble, the German finance minister, does not believe that any government would be able to implement them.

http://dailycaller.com/2012/02/19/germany-drawing-up-plans-for-greece-to-leave-the-euro/

So we are running out of road to kick the can down and now it looks like Greece is going to have to face up to this problem and it seems the sensible course is to deal with it now before it becomes an unstructured default.

And as the Euro countries fight over what to do, we come ever closer to the unstructured scenario that they don't seem to acknowledge they are playing with by running into overtime over the new Greek loans.

It seems crazy to give them more money when you know you haven't a chance in hell of them being able to fulfill the conditions of the loan even if they wanted to so bother giving them the loan now?

Isn't this just making the consequences when they do fail greater for the nations lending them the current money? Why not just cut the chord now instead of later and organise the structured default now instead of fighting over terms of new loans?

nyarlothothep

wow, they're just realising this now?

stringed theory

Personally, I wouldn't think of consulting a US source to predict what Germany might do, but you may be right.
Three interesting articles here http://www.spiegel.de/international/index.rss .

thebman

stringed theory wrote: »

Personally, I wouldn't think of consulting a US source to predict what Germany might do, but you may be right.
Three interesting articles here http://www.spiegel.de/international/index.rss .

Well I read pretty much every article Google News had at the time on the subject.

The above was the closest I thought to an unbiased article.

K-9

stringed theory wrote: »

Personally, I wouldn't think of consulting a US source to predict what Germany might do, but you may be right.
Three interesting articles here http://www.spiegel.de/international/index.rss .

thebman wrote: »

Well I read pretty much every article Google News had at the time on the subject.

The above was the closest I thought to an unbiased article.

Not familiar with the Daily Caller but spiegel is a bit like the Daily Telegraph. The Euro shouldn't really be in existence now based on it, the Germans long given up!

stringed theory

K-9 wrote: »

Not familiar with the Daily Caller but spiegel is a bit like the Daily Telegraph.

Even if that is so, and I doubt it, it is a "Daily Telegraph" in a German context. They are far less eurosceptic than mainstream UK media, and I've seen no articles there against the principle of the euro or Euro-federalism, so their views on Greece are particularly interesting. A nd I think that in Ireland we should try to gauge our neighbours' opinions directly at source instead of having them interpreted for us by UK and US interests, as is most often the case.

lets get working

hope ireland just takes the the bull by the horns and goes back to the punt nua save on a lot of greek style rioting. iceland saved its people a huge amount of agro by standing up for its people, 8% unemployment has to be better than our rate

K-9

lets get working wrote: »

hope ireland just takes the the bull by the horns and goes back to the punt nua save on a lot of greek style rioting. iceland saved its people a huge amount of agro by standing up for its people, 8% unemployment has to be better than our rate

They traditionally have about 2% so it isn't that great if you are Icelandic!

lets get working

yep but their getting on with it, there now 3 years ahead of us, they didnt have to deal with meetings about meetings like we gotten from our leaders and merkozy

meglome

lets get working wrote: »

... 8% unemployment has to be better than our rate

And it's also 9 times higher than it was before their bust. This is not something anyone should follow.

lets get working wrote: »

yep but their getting on with it, there now 3 years ahead of us, they didnt have to deal with meetings about meetings like we gotten from our leaders and merkozy

It's very easy to say, by picking the statistic that suit, that Iceland is ahead of us. Iceland's own finance minster says that Iceland should not be used as an example to follow. Iceland could not pay it's foreign bank debt, not a hope. So they stiffed people in the likes of the UK, ordinary savers. The UK government had to step in and pay these people.

lets get working

yes its true to say it is higher than before bust and that uk had to pay uk savers but the fact remains there banks were private companies and for 9 times higher unemployment the lower the better always is a supported view