"EU rescue plan little comfort for Greece; Creditors want higher rates" by Elena Becatoros, Associated Press | April 9, 2010
Protestors opposed to tax reforms demonstrated yesterday in Athens. More than 3,000 people took part in the Greek capital. (Thanassis Stavrakis/Associated Press)
That's all you will see of them. There is no print.
ATHENS — Greece’s borrowing costs rose to a record yesterday, intensifying the country’s debt crisis and suggesting a euro-zone and International Monetary Fund rescue plan is providing little support for Athens’ struggle to avoid default.
The higher interest rates demanded by bond investors are potential poison for the Greek budget; unless they fall, the government will pay a massive premium to borrow and face a vicious cycle in which higher borrowing costs fuel fresh default fears.
When they say "government" in this case it means YOU, taxpayers!!!!
And YOU KNOW WHO the INVESTORS are, right?
A Greek default would be a further blow to confidence in the shared euro currency, which has fallen against the dollar as the crisis has escalated....
That's interesting: their crap currency lower than the buck.
You can't tell me there isn't manipulation going on somewhere.
“There can now be little doubt that Greece will have to turn to the IMF for help,’’ said UBS currency strategist Beat Siegenthaler. With bond yields high and reports of depositors moving money out of Greek banks, “time could quickly run out,’’ he said....
Yeah, CAPITAL FLIGHT is NEVER GOOD for a NATION!
Aren't the smart guy globalists taking care of all this?
Related: Profits overshadow worries about Greece
Yeah, I guess they are.
"Greece is pushed closer to a bailout" by Associated Press | April 23, 2010
ATHENS — The financial markets pushed Greece closer to an expensive bailout after the European Union raised its estimate of the country’s budget deficit and Greece’s credit rating was downgraded. The moves caused the indebted nation’s borrowing costs to spike to apparently unsustainable levels.
I thought the financial markets were supposed to work for us.
Man, was I ever misinformed on that one!
Greece’s government has said it prefers to tap the bond markets and avoid using a joint eurozone-International Monetary Fund rescue package, details of which are being hammered out. But with investors demanding punishingly high interest rates — over 8.7 percent for 10-year bonds — the chances Greece will get by without a rescue seem increasingly remote.
Yeah, the BIG BANKS (those are the INVESTORS, folks) are REALLY PITCHING IN and HELPING OUT after the TRILLIONS TAXPAYERS GAVE THEM for BONUSES and CLEARING the BALANCE SHEETS.
“Greece is in the midst of another hellish week and now faces no choice but to seek to formally activate the European rescue package,’’ said Ben May, at Capital Economics....
How many more can the people take?
"In crisis, Greece accepts rescue from IMF, EU" by Elena Becatoros, Associated Press | April 24, 2010
ATHENS — Hobbled by exorbitant borrowing costs, Greece triggered an emergency aid plan yesterday to draw cash from the International Monetary Fund and countries that use the euro — the first test of whether the EU is prepared to bail out one of its members.
This is the FIRST TEST of the GLOBALIST SYSTEM of CONTROL, folks!
WILL IT WORK in the EUROPEAN LABORATORY!
The package has enough money to keep Greece from defaulting on its massive debts anytime soon. But Athens still faces years of painful cutbacks and questions about its long-term finances, raising worries that its troubles will affect other indebted members of the European Union and further harm the euro currency.
Yes, they are NOT WORRIED about the PAINFUL CUTBACKS that have the (unreported) PEOPLE in the STREETS!!
The three-year plan adopted in Brussels recently and hailed as a sign that Europe can cope with the crisis will provide Greece with loans....
THAT isn't going to help them, and is NO BAILOUT AT ALL!!!
European governments made the financial assistance available to fend off a Greek default, which would deal a serious blow to the euro currency, shake market confidence, and inflict losses on banks that invested in Greek bonds.
I TOLD YOU it was ALL ABOUT THEM!!!
The GREEDY SWINDLERS want EVEN MORE INTEREST, huh?
It also aims to keep Greece’s troubles from spreading to other financially weak euro-zone governments, such as Portugal and Spain.
Yes, PUT OUT THAT FIRE!!!
Not easy when it is a GREECE FIRE (as anyone who has worked in a restaurant kitchen knows).
While the aid would stave off default for now, it raises more questions: Will other governments ask for a bailout, and will assuming the financial burdens of Greece mean shakier finances and higher borrowing costs for other euro-zone countries?
Greece is under no illusions that the plan will resolve all the problems of a country that has a debt of $400 billion and other serious fiscal issues. But Athens hopes the plan, which will allow it to refinance its debt, gives it breathing space to push through tough reforms.
Turn around, drop trou, and spread, Greek taxpayers.
And THIS MEETING sure was UNDER-COVERED in AmeriKa's MSM:
"Obama links finance rules to woes in auto industry" by Darlene Superville, Associated Press | April 25, 2010
WASHINGTON — Greece’s finance minister, George Papaconstantinou, held talks in with Treasury Secretary Timothy Geithner and others at the International Monetary Fund headquarters in Washington, while an IMF team worked with Greek officials in Athens on a deal to deliver financial aid to Greece.
"As confidence sinks, Greece is urged to be more austere" by Judy Dempsey and Matthew Saltmarsh, New York Times | April 27, 2010
Are banks being austere?
BERLIN — Confidence in Greek assets sank to a new low yesterday, as Chancellor Angela Merkel of Germany kept up the pressure on Greece, insisting on tougher austerity measures.
What a bi....
Questions remain about when and how the aid package to Greece of up to $60 billion might be delivered. Fears are also increasing that even with the money promised, Greece will have to restructure its debts, leaving investors with losses....
You see whose interests the papers are working for, no?
Greece has to accept “hard measures’’ for the three years specified in the IMF program, Merkel said. “When Greece accepts these tough measures not for one year but several, then we have a chance for a stable euro.’’
Yes, TAKE YOUR GLOBALIST MEDICINE, Greeks!!
There is that word again.
If I had a nickel for every time I saw that word in the paper.... sigh.
at the same time, Germany’s finance minister, Wolfgang Schaeuble, said the stability of the euro was at stake and was preparing to press for quick passage of the bailout in the German parliament. The German public has opposed any major bailout of Greece, and Merkel has had to be persuaded to support the idea.
Yeah, because THEY KNOW WHO is going to GET PAID with it!
Another nickel in the cup.
the German government seems reconciled to the idea of lending Greece about $10.7 billion. That would make it the biggest contributor. The assumption had been that an international aid package would buy Greece time to restructure its economy and pay down debt — estimated at 115 percent of national output.
So if Greece took ALL THEIR MONEY and PAID OFF DEBT it would STILL NOT BE ENOUGH?
Then Greece is finished as a nation. They will NEVER be able to pay off their debt.
That confidence has evaporated as investors focus on long-term obligations, which continue to grow. Investors appear unwilling to wait the months that would be required to see an improvement from austerity measures.
They are IN-F***ING-CREDIBLE, are they not?
Athens officially requested an aid package from its euro-zone partners and the IMF on Friday. But the yield on 10-year Greek bonds rose again yesterday, to 9.5 percent.
There is added danger if Germany and France delay financial aid: Banks in those countries retain significant holdings of Greek debt, so any default by Athens could have ripple effects on asset markets elsewhere.
Are you not GLAD you JOINED that PoS union, Europeans?
Yet political wrangling in Germany ahead of an important regional election next month has also led to doubts about how swiftly the aid will be transferred.
Merkel’s coalition has a comfortable parliamentary majority, so it is likely that she will be able to push the measures through.
President Nicolas Sarkozy of France released a statement highlighting the need for “rapid and resolute action against the speculation that is targeting Greece.’’
And we ALL KNOW WHO is behind the SPECULATING, don't we?
Are they BETTING ON FAILURE and RAKING IT IN on BOTH ENDS AGAIN?