"Greece would eventually be able to reinvent itself through its ability to print its own currency"
Uh-oh!!! Eliminate private central banking and its Ponzi scheme?
That's the thing that got Abraham Lincoln and John Kennedy shot, how Hitler achieved the German economic miracle (and we all know how "history" has judged him), and what is enshrined within the U.S. Constitution.
Good luck to the Greek leader who charts that course.
"The new government will face an early gauge of public acceptance tomorrow when unions will join an annual march to mark the anniversary of an antidictatorship uprising in Greece in 1973. Fearing violence, some 7,000 police will be deployed in Athens that day....
A dictatorship the US helped bring about and support.
Greeks must be feeling a sense of deja vu.
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"Greek leader wins vote of confidence" November 17, 2011|By Niki Kitsantonis, New York Times
ATHENS - Greece’s new interim government comfortably won a vote of confidence yesterday, although the unity of the coalition, which must secure rescue funding and save the country from default, appeared tenuous.
The government of Prime Minister Lucas Papademos, a former vice president of the European Central Bank, added that for foreign creditors to continue working with Greece, the leaders of all three parties in the coalition would have to offer the written guarantees sought by foreign creditors....
They want it in blood.
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"Global leaders wonder what would happen if Greece drops the euro" November 17, 2011|By Pan Pylas, Associated Press
LONDON - Until recently, discussions about a country’s exit from the euro had been confined to market commentary and academic papers. Suddenly, top officials are openly discussing the possibility....
So once again the blogs are ahead of the deceptive, distorting, obfuscating AmeriKan media?
A new Greek government now has not much more than 100 days to push through a package approving Europe’s latest rescue package and another round of punishing austerity, over the objections of many Greeks.
Your LEADERS NO LONGER SERVE YOU!
Related: Markets Pick Papademos to Govern Greece
A growing number of analysts believe those efforts will fail, and that Greece’s days in the euro are numbered. They say Greece would do better to cut and run....
It would be BETTER for the GREEK PEOPLE!
Peter Morici, a University of Maryland professor, and other proponents of a euro exit concede that the short-term pain for Greece would be huge. But they argue that Greece would eventually be able to reinvent itself through its ability to print its own currency and set an appropriate economic policy for its own needs.
As ALL NATIONS SHOULD!!
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That's why Greeks are in the streets:
"Thousands march in protest in Greece" November 18, 2011|By Elena Becatoros and Nicholas Paphitis, Associated Press
ATHENS - Masked youths clashed with riot police outside Greece’s Parliament and the US Embassy yesterday as thousands of austerity-weary Greeks marched through Athens in an annual commemoration of a bloody student uprising in the 1970s.
Police fired tear gas and stun grenades to disperse the rioters, and some 60 people were detained for questioning, but no injuries were reported.
Some 28,000 people took part in the march, according to police estimates, making it one of the biggest Nov. 17 protests in years....
With loan-dependent Greece heading for its fourth year of recession and saddled with record unemployment, the demonstration was the first test of public sentiment for the new coalition government of Lucas Papademos, a technocrat enjoying widespread popularity, according to polls.
Meaning I WILL NO LONGER BELIEVE POLLS CITED by the AmeriKan media!
Yesterday’s annual protest commemorates the squashing of a prodemocracy student uprising in 1973 by the military dictatorship that ruled Greece from 1967-74 - and whose backing by the United States still rankles in the country.
But the embassy march has traditionally served as a vent for antigovernment protests that often turn violent.
Because agent provocateurs of the Gladio variety were inserted.
About 15,000 people took part in a similar, but peaceful, protest in the northern city of Thessaloniki.
The clashes came a day after Papademos, a 64-year-old former central banker, easily won a confidence vote in Parliament.
Papademos heads a coalition of the majority Socialists, conservative New Democracy, and the small right-wing populist LAOS party, which has nationalist and anti-immigration roots.
The alleged SOCIALISTS should be ASHAMED, and the banker's government has a fascist element. Great.
He faces a daunting task in the 100 days until early elections in February.
In addition to staving off looming bankruptcy by securing the country’s next rescue loan installment, his government must pass a new austerity budget - to be tabled in Parliament today - and transform paper pledges of sweeping public sector reform into action.
After its borrowing costs ballooned in 2010, Greece turned to its European partners and the International Monetary Fund, winning a $148 billion bailout in return for deeply resented austerity measures to cut deficits bloated by years of government overspending.
But it became clear that the rescue loans were not enough, and European leaders agreed on a second $175 billion bailout last month with an additional $135 billion debt writedown by banks and other holders of Greek government bonds.
Complex talks with the Institute of International Finance, a global bank lobbying group, on the writedown started in Athens on Wednesday and will continue over the days and weeks ahead.
The details of the bond swap will determine how much the deal will actually help Greece in getting its debt down to a sustainable level.
“Our goal is to structure a transaction that will attract the broadest possible support from the bondholder community,’’ Finance Minister Evangelos Venizelos said.
That is NOT YOU, Greek citizen!
“To this end, we will be listening to the IIF, other industry bodies, and individual creditors’ ideas about how best to design this transaction.’’
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Also see: Greek Budget in Good Shape
Breaking News: Goldman Sachs Screwed Greece
They screwed everybody.
