Death default. Whoops. lol

Right of course Benvolio. Thanks for the comment, that’s changed now.

Happy to help…and thank you for the article!

What we are seeing is the powerful in the EU – Germany and France, removing the need to work with others, it is their EU. We are also looking at the appointed commission and EU civil servants looking at how to implement their vision without having to listen to the plebs. The Communist party of China in its modern form, is what the look at but of course they tell themselves that it is for the good of all.

@Tim Yes, that’s a more eloquent version of “what he said” ;-)

Hmm, seems pretty clear that the Germans would have prefered the Greeks to have a referendum on leaving the Eurozone so they would have been rid of them.

But you can labour under your fantasy that the German taxpayer actually wants to hand over billions to fund Greeks retiring in their 50s if you want.

@Neil Who is talking about the German taxpayers here?

You’re saying that the EU is ordering about the Greeks. Well lets look at what happened. Papandreou announced there would be a referendum on the bailout, to cover himself politically against responsibility for the austerity measures attached.

Then the IMF, EU and ECB said no bailout money until your referendum is passed. And the French and Germans said “Actually, a Eurozone without Greece is no so unthinkable. Your referendum should be on whether you want to be in the Euro”. The German taxpayers in particular want no more responsibility for funding the Greek state. Just look at German press. A bit more complicated for the French given their banking exposure.

Suddenly Greek minds are concentrated: the German taxpayer won’t be sending us over any cash unless we sign up to this bailout. And they seem to coming around to preferring Greece went out of the Euro altogether, even though it means a full Greek default and the risks that brings to the rest of the Eurozone.

Alright everyone, just kidding about that referendum! Please keep sending us the money!

Not exactly the takeover you seem to be fantasising about. Just the Greeks realising that getting no money from the Germans, and leaving the Euro, would mean austerity on an apocalyptic scale.

There are no shortage of people in Nederland, Germany, Austria, Britain, Denmark, etc etc who are disgusted with the power grab by France and Germany. Pretty much every leading investor and economist in the world thinks that the ECB/EU is run by lunatics and fanatics who are risking the entire global economy. Pretty much no one believes that what is goof for Greece or its economy has anything to do with what is going on.

The EU/ECB have probably blown their chance to resolve this crisis in the least destructive way socially and economically. All over Europe euroskepticisim is growing, yet the leaders of the EU continue to defy economics and push for further integration. Well, Germany and France wanted the Euro, if they aren’t willing to pay for what many leading economists pointed out was inevitable, then they should put a plan in place to break up the Euro.

It really is that simple for Germany and France, you wanted the Euro, either pay for it, or set a mechanism for breaking it up. Ye had 3 years to resolve the crisis, but refused to act meaningfully.

The continent will regret turning the EEC in to the EU and introduction of the currency. All to satisfy the power hungry in Berlin and Paris. Buckle up people, ye have seen nothing yet.

EU leaders “shot themselves in the foot” as European banks offload European sovereign bonds.
http://mobile.bloomberg.com/news/2011-11-08/european-banks-cutting-sovereign-bond-holdings-threatens-to-worsen-crisis.html