Poor Greece.....home of Western civilization

The bailout outrages never stop.

Of the 110-billion Euro Greece bailout, 30-billion (approx $40 billion) will be paid for by the IMF.

The US supplies almost 20% of the IMF's funding (per quotas). So that means US taxpayers are providing ~$8 billion of the $145 billion going to kick the Greek can down the road.

That's the first outrage. (Why is this our problem?)

The second outrage is that, as in some of the US bailouts, our bailout money is JUNIOR to Greece's existing debt. That means that, over the next couple of years, the idiot banks that loaned bankrupt Greece money will get their money back. And then, when Greece runs out of cash again, we'll be left holding the bag (along with Germany and the rest of the folks who bailed Greece out).

In any normal financing, the lender of last resort would be SENIOR to all existing debt. It would get its money back first, before the other idiots got a penny.

In the Greece bailout, however, the new money we're putting in will be going right out the door to pay off existing lenders who would have lost their shirts. And if the Greece austerity measures don't work and there's nothing left for us? Tough.

(Why don't the existing creditors have to lose a penny? Same reason the AIG creditors didn't lose a penny. Because it would apparently be too traumatic to ask them to do that. The idea that the existing creditors might have to lose money was apparently so unthinkable that it was never even on the table).

It's nice of us to bail out Greece, isn't it? Can't we at least get the Parthenon as collateral or something?

http://www.businessinsider.com/henry-blodget-guess-whos-paying-for-that-greece-bailout-thats-right-you-2010-5

There's a word written across each, and everyone of our heads.

Whose going to bail us out?

Let these companies and banks fail.

It's all corruption.

by knarf Today at 10:52

There's a word written across each, and everyone of our heads.

Let me guess...SUCKER??

My sign still glows in the dark, although i got it to quit blinking a few years ago....

We need to bail out America first, before we bail out other Foreign countries!

requete' wrote:We need to bail out America first, before we bail out other Foreign countries!

I really truly believe they want to destroy America, the decisions make no sense otherwise. I used to tell people if you can afford to leave, seriously consider it. It wasnt option for me.

speechless right now but I will have something to say on this issue for sure!!!!

I just hope that everyone realizes that this is a bailout of banks (again) and not of Greece, like the media tries to spin it. The regular people of Greece don't want this and don't benefit from this just like we didn't with ours. They know that they don't owe this money for the fraudulent derivatives and shouldn't have to borrow more money and have austerity to pay for it, just like we shouldn't. It's yet another scam to rob the world being done by the global banksters, IMF, World Bank, and central banksters.

Jen wrote:I just hope that everyone realizes that this is a bailout of banks (again) and not of Greece, like the media tries to spin it. The regular people of Greece don't want this and don't benefit from this just like we didn't with ours. They know that they don't owe this money for the fraudulent derivatives and shouldn't have to borrow more money and have austerity to pay for it, just like we shouldn't. It's yet another scam to rob the world being done by the global banksters, IMF, World Bank, and central banksters.

Yes the big global wealth clean-out. Arent they rich enough. Yeah we shouldnt think that Greek fisherman or Greek lady with children whose just making ends meet, is going to see any of the money. The IMF and central bankers are total evil.

Greek anti-austerity protesters surround parliament

http://www.rawstory.com/rs/2011/06/15/greek-anti-austerity-protesters-surround-parliament/

ATHENS (AFP) – Thousands of
Greek protesters surrounded the parliament building in Athens on
Wednesday as a general strike paralysed the country and the prime
minister held emergency talks on a controversial reform package.Riot police and barricades blocked approaches to parliament as 20,000
people gathered in the capital, summoned by a popular protest group
that has occupied central Syntagma Square for weeks after a similar
mobilisation in Spain.Lawmakers inside the building are debating a new austerity package
worth over 28 billion euros ($40 billion), a condition demanded by
Greece's creditors in return for a badly-needed new aid bailout.Prime Minister George Papandreou began an emergency meeting with the
Greek head of state, President Carolos Papoulias, after a government
deputy defected on Tuesday, reducing the government's majority to five
seats.Another party member also recently indicated that he would vote
against the government's plan, raising the likelihood the reforms may be
rejected.A similar event in Portugal prompted the collapse of a left wing
government followed by snap elections that were won by a right-of-centre
party.Reports said the government may seek to force opposition deputies to
shoulder some responsibility for the reform package by setting a minimum
majority for its passage of 180 votes in the 300-seat body, 25 more
than the ruling party holds.But Greece's right leaning main opposition party insists it will vote against the measures.Greece has warned it will be unable to pay next month's bills without
a 12-billion-euro loan instalment from the EU and the IMF, part of a
broader 110-billion-euro bailout package agreed last year.But the creditors have warned that no more aid will be forthcoming without firm reform commitments from Athens.Dozens of police vans were parked in front of parliament to allow the
deputies unhindered access and keep at bay the crowd of protesters.The square opposite the legislative chamber was awash with Greek
national and Spanish flags and banners reading "Resist" and the battle
cry from the Spanish civil war, "No pasaran" (They shall not pass).Rallies called by trade unions were due to begin in the late morning.The general strike, the third this year against austerity, disrupted
public transport on land and sea and forced offices to close.Tension has been rising in Greece in the past few days with
protesters voicing their discontent over plans for a new wave of
spending cuts and tax hikes.Many Greeks are angry that additional sacrifices are demanded after billions of euros in spending cuts and tax hikes last year."The politicians lied to us," said Maria Chira, a 30-year-old mother of two."Greece is in danger, this is the most important mobilisation since
the seventies," she said, referring to a student uprising that helped
bring about the collapse of a military dictatorship in 1974."We no longer have our fates in our hands," added 70-year-old Machi Spyridaki."I am here to defend our country's pride and the future of my
children and grandchildren who are destined to a life of unemployment
and poverty wages," she told AFP.Eurozone finance ministers failed to reach accord at talks on Tuesday on a second bailout package to avert a Greek default.Opinion polls show most Greeks have lost confidence in their
country's government and a political and judicial system that has
conspicuously failed to root out endemic corruption.




The Greek people know that they don't owe all of this money for the fraudulent derivatives that the global banks duped all of the governments of the world into investing in and they are fighting back. We need to do the same.

http://www.timesunion.com/news/article/Greece-wracked-by-political-turmoil-in-debt-crisis-1426810.php

Holey cow those guyz are going nutz--rioting in the streets. Their fed, state, & local govts must've had alot of money invested in 'tranches' & the other 'elegant' financial instruments before the Recession. They must've gotten trounced in the economic crisis.

I don't buy the argument that their govt has been providing excessive social services. Most of Europe has given similar social services as Greece such as national health. Poor Greece has to make more severe cuts than the rest of the EU countries.

Anyways hope the Greek rioting will be limited & will end & that it won't be like CNN said 'contagious'....apparently Germany & France are working on another loan plan to help Greece weather the storm.

Greece needs a few miracles from the old gods & goddesses.

Yep, Phillymg. They were once the cradle of True Democracy !

Lol.....I wouldn't call what the ancient Greeks had a 'true democracy.' Yes what classical Greece established was the seed of what would become modern democracy but it was also a massive slave society where slaves had zero civil rights & where Greek women related to official male 'citizens' also had zero civil rights. However like you say Greece did lay the groundwork for democracy today. Our kids studied Aristotle's writings in school this year & helping them we learned that way back then the ancient philosopher argued for a strong Middle Class. He said that any nation ruled by the rich would fail because the rich are too selfish & power hungry to see beyond their own self-interests & achieve laws that are good for the entire society. Go Aristotle!

Greece prepares to sell off state assets to get loans

http://www.cnn.com/2011/WORLD/europe/06/20/greece.debt/index.html?hpt=hp_t2

Greece has to raise 50 billion euros ($71 billion) through privatization
by 2015, Eurogroup members said. It also has to push through tough
budget-cutting measures, they said, despite widespread protests in the
country that forced a government reshuffle last week.


Being forced to privatize everything and implement horrendous austerity measures is what the banksters want to do to all of us.
They don't owe that money for the fraudulent derivatives and neither do we. The banksters need to be stopped. Glass-Steagall needs to be reinstated immediately.

Now Spain too.


Spanish protesters launch anti-austerity marches
http://www.breitbart.com/article.php?id=CNG.635de64b726f1b8098689531868a3741.121&show_article=1

Wow, the comments that are on that article are some of the most idiotic I've ever seen. They've (Fox News and company) got these people so brainwashed about the EU, it's insane. They think they are "socialists" and "lazy" and that that's the reason their economy is horrible and it's just not true. It is because of the global banks and corporations.

Greece - Video Report As Thousands Protest Sweeping Austerity Cuts - Democracy NOW!
https://www.youtube.com/watch?v=wcJwv1D8M3c&feature=autoplay&list=ULourgVXME0tM&index=21&playnext=1



Greek Parliament Approves $40B Bailout that Will Worsen the Recession - Democracy NOW!
https://www.youtube.com/watch?v=Jd0TZH6U3bY&feature=mfu_in_order&list=UL

I'm confused about the European rioting because rioting is always destructive & counterproductive. It isn't seniors or poor single moms whose govt support is being cut who are rioting. It isn't middle-class workers whose taxes are going up who are rioting. It's a bunch a rabblerousing young men wearing masks & scarves who are lobbing rocks & molotov coctails at police. Seems to me that the ones who are rioting are doing it for a motivation *other* than objections to the cuts in govt programs & increase in taxes.....seems to me that the rioters are *anarchists* who've taken advantage of the economic problems to create chaos & advance their own agenda.....whatever that is.....

Controlled by Agenda 21 promoters?

Never heard of it but looked it up.....

http://en.wikipedia.org/wiki/Agenda_21

Doesn't sound like rabblerousing young men.....sounds like middle-aged bureaucrats.....& we haven't seen any UN forces lobbing rocks & bottles at cops in Europe. What's ironic is that the multinational corporations have quite effectively been *redistributing the wealth* from Western nations to China, India, Brazil etc. Seems like the corps & the UN are on the same page.....with unemployed & underemployed Americans thrown into the gutter.

I was thinking more along the lines of people like this guy.....not necessarily him & his group per se because he's pretty old.....but nutty folks like him who believe that the governments of the world should be overturned thru violence--

http://en.wikipedia.org/wiki/Lyndon_LaRouche

Another possibility is that the rioters are Bilderberg hired thugs intent on making the legitimate peaceful protesters & strikers look bad--

http://en.wikipedia.org/wiki/Bilderberg_Group

It defies logic that ordinary citizens of a country would engage in tossing molotov coctails at police because they'd know how counterproductive such violent actions would be.