Germany Says ‘Nein’ to Greece Bailout Request

[Perspicuo]

Germany Says ‘Nein’ to Greece Bailout Request
http://time.com/3714820/greece-bailout-rejected/

Greece caved in to pressure from the rest of the Eurozone Thursday and asked for an extension of its bailout program.
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But euphoria in financial markets lasted less than two hours before the German finance ministry said the request wasn’t “substantial” and didn’t offer enough guarantees that it would continue to implement reforms.

Berlin’s rejection came barely an hour after Dutch finance minister Jeroen Dijsselbloem had confirmed that the Eurogroup’ (comprising the Eurozone’s 19 finance ministers) would meet again Friday in Brussels to discuss the request.

 

[Harry Bosch]

Germany Says ‘Nein’ to Greece Bailout Request http://time.com/3714820/greece-bailout-rejected/

First Law of Banking: don't chase bad Capitol with new.

 

[Perspicuo]

The word is capital. "Capitol" is a hill in Rome. I hope the guy who nicknamed the US congress "Capitol Hill" is burning in grammar hell now.

 

[dismal]

The Greeks Blazing Saddles negotiating strategy does not seem to be working.

 

[Duke Leto]

I wonder when those spendthrift Germans are going to pony up and pay off those WWI reparations...

 

[funinspace]

Here is a fun headline from the Dutch (assuming Google translate is playing nice). Alas, it looks like the paper needs a login to read the details...

"Swallow or Return To The Drachma"
http://www.telegraaf.nl/telegraaf-i/7GQ

Slikken of Terug Naar Drachma

 

[ksen]

The Greeks Blazing Saddles negotiating strategy does not seem to be working.

View attachment 2317

You mean the strategy of Greece saying they'll continue with the current policies for at least six more months?

I agree that was terrible.

 

[jonatha]

Germany Says ‘Nein’ to Greece Bailout Request http://time.com/3714820/greece-bailout-rejected/

First Law of Banking: don't chase bad Capitol with new.

Second Law of Banking (which I would have though Harry knew; he's a banker, isn't he?): Capital is spelled with two a's....

 

[dismal]

The Greeks Blazing Saddles negotiating strategy does not seem to be working.

View attachment 2317

You mean the strategy of Greece saying they'll continue with the current policies for at least six more months?

I agree that was terrible.

To continue with their current policies they need their bail out package re-approved.

Since they require other people's money, they require other people's consent.

 

[Harry Bosch]

Second Law of Banking (which I would have though Harry knew; he's a banker, isn't he?): Capital is spelled with two a's....

I blame the U.S. Communist liberal nanny school system!

 

[Loren Pechtel]

Germany Says ‘Nein’ to Greece Bailout Request http://time.com/3714820/greece-bailout-rejected/

First Law of Banking: don't chase bad Capitol with new.

So we shouldn't replace Washington D.C.?

 

[bilby]

I would just like to be the first to point out (as everyone else seems to have missed it) that Harry made a minor spelling error in his post, and hilariously wrote 'capitol' instead of 'capital'. This error clearly outweighs in importance any possible circumstance in the Eurozone, so I suggest that we all spend the rest of the thread pointing out this small mistake.

Thank you all in advance for your cooperation.

 

[fromderinside]

I would just like to be the first to point out (as everyone else seems to have missed it) that Harry made a minor spelling error in his post, and hilariously wrote 'capitol' instead of 'capital'. This error clearly outweighs in importance any possible circumstance in the Eurozone, so I suggest that we all spend the rest of the thread pointing out this small mistake.

Thank you all in advance for your cooperation.

OK. So this thread is all about something like  Brasilia, or, about Brasilia's population inflation.

Inquiring minds .....

 

[tupac chopra]

Greece Aid Extension Agreed Pending Measures from Athens

Looks like Greece has to come up with some sort of plan/committment by Monday night, so it's still not over

 

[arkirk]

Germany Says ‘Nein’ to Greece Bailout Request http://time.com/3714820/greece-bailout-rejected/

First Law of Banking: don't chase bad Capitol with new.

First law in life: Don't enslave yourself to people who only wishes to use you for their purposes. The Germans never had good faith in mind for Greece. They and unscrupulous people in Greece created onerous debt that can NEVER BE RETIRED.

Whenever a weak party and a strong party have a conflict of interest, it is the strong party that has to make concessions or the weak party just continues to be weaker and buried deeper in undeserved debt. This was the case with IMF debt in Africa contracted by unscrupulous and uninformed dictatorial governments there who were robbing the people. Making these debts good to the loaner would have allowed the culprits to sneak away with their loot. Most of them did so anyway.

When you build an economic structure that unduly creates harsh, austere conditions for people the structure NEVER BENEFITTED, you are ignoring the wrongness of your actions. That is what the Germans are doing today in this matter. It is haircut time.

 

[Perspicuo]

Here is a fun headline from the Dutch (assuming Google translate is playing nice). Alas, it looks like the paper needs a login to read the details...

"Swallow or Return To The Drachma"
http://www.telegraaf.nl/telegraaf-i/7GQ

Slikken of Terug Naar Drachma

Oregon Dutch proficiency is limited to a few locals.

 

[Jason Harvestdancer]

Those evil creditors, wanting to be paid back and not wanting to lend more. Don't they know it is the duty of lenders to continue to lend, no matter how much they lose out, because otherwise they are evil and don't care about people?

 

[Jayjay]

First Law of Banking: don't chase bad Capitol with new.

First law in life: Don't enslave yourself to people who only wishes to use you for their purposes. The Germans never had good faith in mind for Greece. They and unscrupulous people in Greece created onerous debt that can NEVER BE RETIRED.

Whenever a weak party and a strong party have a conflict of interest, it is the strong party that has to make concessions or the weak party just continues to be weaker and buried deeper in undeserved debt. This was the case with IMF debt in Africa contracted by unscrupulous and uninformed dictatorial governments there who were robbing the people. Making these debts good to the loaner would have allowed the culprits to sneak away with their loot. Most of them did so anyway.

When you build an economic structure that unduly creates harsh, austere conditions for people the structure NEVER BENEFITTED, you are ignoring the wrongness of your actions. That is what the Germans are doing today in this matter. It is haircut time.

If Greece had defaulted, wouldn't it be in much deeper sinkhole right now? Greece had and to some extent still has some structural problems in its government. It's easy to say that austerity doesn't work, but if you don't have the money and nobody will borrow you any, what other option is there?

 

[tupac chopra]

Those evil creditors, wanting to be paid back and not wanting to lend more. Don't they know it is the duty of lenders to continue to lend, no matter how much they lose out, because otherwise they are evil and don't care about people?

It's not like banks actually have the money to start with. They just create, then "advance" it. You and I on the other hand have to actually have the money in the first place. Then we can "lend" it, rather than "advance" it.

But why did these banks "advance" Greece more than they were supposed to anyway.
Why shouldn't the banks take responsibility for advancing money they knew could never be repaid?

 

[Axulus]

First law in life: Don't enslave yourself to people who only wishes to use you for their purposes. The Germans never had good faith in mind for Greece. They and unscrupulous people in Greece created onerous debt that can NEVER BE RETIRED.

Whenever a weak party and a strong party have a conflict of interest, it is the strong party that has to make concessions or the weak party just continues to be weaker and buried deeper in undeserved debt. This was the case with IMF debt in Africa contracted by unscrupulous and uninformed dictatorial governments there who were robbing the people. Making these debts good to the loaner would have allowed the culprits to sneak away with their loot. Most of them did so anyway.

When you build an economic structure that unduly creates harsh, austere conditions for people the structure NEVER BENEFITTED, you are ignoring the wrongness of your actions. That is what the Germans are doing today in this matter. It is haircut time.

If Greece had defaulted, wouldn't it be in much deeper sinkhole right now? Greece had and to some extent still has some structural problems in its government. It's easy to say that austerity doesn't work, but if you don't have the money and nobody will borrow you any, what other option is there?

Venezuelan style or, in the extreme, Zimbabwean style inflation? Print the money you need (which means leaving the euro) and hope inflation doesn't run away from you into hyperinflation?