"Greece’s “draconian reforms,’’ which he said could help “shock and awe markets and reestablish confidence.... Officials are hoping the size of the program will signal a “shock and awe’’ commitment’’
"$145b rescue is OK’d for Greece" by Raf Casert and Elena Becatoros, Associated Press | May 3, 2010
BRUSSELS — European governments and the International Monetary Fund yesterday committed to pull Greece back from the brink of default, agreeing on $145 billion in emergency loans on the condition Athens makes painful budget cuts and tax increases.
The rescue is aimed at keeping Greece from defaulting on its debts and preventing its financial crisis from infecting other indebted countries.
After chiding Athens for years of mismanagement and cheating on budget reporting, the IMF and Greece’s 15 partners that share the euro currency rewarded Prime Minister George Papandreou for tough measures that include cuts in civil servants’ pay....
Violent protests already marked the Labor Day parades in Athens on Saturday and more demonstrations and a nationwide general strike are set for Wednesday....
Yet with Papandreou’s Socialists holding a large majority, his austerity plan is unlikely to face obstacles before it is rushed through Parliament by Friday.
The IMF’s lead negotiator in Athens, Poul Thomsen, praised Greece’s “draconian reforms,’’ which he said could help “shock and awe markets and reestablish confidence.’’
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Yeah, how about a little SHOCK and AWE, huh?
"EU ministers agree on euro defense plan; Packages add up to nearly $1 trillion" by James Kanter and Landon Thomas Jr., New York Times | May 10, 2010
BRUSSELS — Pressured by sliding markets and doubts over their ability to act in unison, European leaders agreed yesterday to provide almost $640 billion in new loans to the Continent’s debt-riddled nations in a sweeping effort to regain lost credibility with investors.
Yeah, THAT is who it is ALL ABOUT ALL the TIME!
The GOD-DAMN "INVESTORS!"
After more than 10 hours of talks, finance ministers from the European Union agreed on a deal that would provide $560 billion in bilateral loans and $76 billion under an existing lending program managed by the European Commission, the union’s executive body. Elena Salgado, the Spanish finance minister, who announced the deal, said the International Monetary Fund was prepared to give up to $280 billion separately.
I'm awed by the AMOUNT TAXPAYERS will have to FORK OVER!
Officials are hoping the size of the program will signal a “shock and awe’’ commitment that will be viewed in the same vein as the $700 billion package the US government provided to help its ailing financial institutions in 2008.
The leaders were making yet another attempt to stem a debt crisis that has engulfed Europe and global markets. Underscoring the urgency, President Obama spoke to the German chancellor, Angela Merkel, and the French president, Nicolas Sarkozy, yesterday about the need for decisive action to restore investor confidence.
Yeah, well F*** "INVESTORS!"
New political complications in two of Europe’s most important countries added to the challenge. In Germany, voter anger at the effort to save Greece cost Merkel an important regional election yesterday, undermining her leadership, and in Britain, the government remained in a state of suspended animation because of the inconclusive Parliamentary elections last week.
Related: Loss in German vote curbs Merkel’s power
Sifting Through the British Ballot
The package comes at a time of mounting financial unease.
This after we were told the economy was on the mend and healing, blah, blah, blah.
Riots in Greece, ever-tightening terms of credit, and the unexplained free fall in the American stock market on Thursday have compounded the sense that the European Union’s inability to address its sovereign debt crisis might lead to the type of systemic collapse that followed the fall of Lehman Brothers....
It is NOT UNEXPLAINED!
The FED was sending a MESSAGE about the AUDIT in the financial regs bill.
While the sums being discussed are eye-catching, some bankers questioned whether they would be enough to calm the markets.
What GREEDY FUCKING ASSHOLES!!
I'll SEE YOU IN HELL, shitters, where I WILL FEAST on your DISEMBOWELED INNARDS!!!!!!!
One banker said that with more and more European economies coping with rising deficits that raising, guaranteeing, or backing such a large number would not be an easy task — unless the European Central Bank stepped in a more forceful and specific manner. The bank has so far rebuffed calls to inject liquidity into the markets by buying back European bonds.
Now they want them to BUY BACK the SHIT BONDS they BOUGHT!!
Late yesterday, the Federal Reserve opened a program to ship US dollars to Europe in a move to head off a broader financial crisis on the continent.
Oh, THAT SURE WAS KEPT QUIET over here, wasn't it, AmeriKan taxpayers?
Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank, and the Swiss National Bank, are also involved in the effort. The Federal Reserve said the Bank of Japan will soon consider a similar program.
But NO TAX DOLLARS for ANY SOCIAL NEEDS, taxpayers of the world.
NO WONDER you are IN REVOLT!!!
The Fed said the action is being taken in “response to the reemergence of strains’’ in financial markets in Europe.
There were many complications in trying to forge a consensus on a new package. They included defining the role of Britain, which lies outside the euro zone and had said it would not help in propping up the euro, as well as the European Central Bank. The fractiousness underscores the frailty of a monetary union in which its richest member, Germany, is also the most opposed to a financial rescue.Yes, the GLOBALIST HOUSE was BUILT UPON a BANKERS DECK of DEBT CARDS!!!
And YOU KNOW WHAT HAPPENS to HOUSES of CARDS, right, readers?!!
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