– Third Time’s The Charm? Greece Agrees To Bailout Amid Rampant Skepticism (ZeroHedge, Aug 11, 2015):
After what were described as “marathon” negotiations, Greece and its creditors have agreed to the terms of the country’s third bailout program. Although some remain optimistic, the general consensus seems to be that, as Finnish Foreign Minister Timo Soini said over the weekend, “we should just admit that this isn’t going to work.”
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This is where the greedy guts are going to get burned. Greece cannot pay back that money, let alone the interest rates being charged. They cannot pay with a contracting economy and growing poverty. It is textbook policy to start wars.
It isn’t just Greece. Spain, Portugal, Italy and many other struggling nations who Germany loaned excessive funds to in their quest for power will be unable to pay either. Germany borrowed the funds to loan these countries, and their debt to GDP is well in excess of 100%, meaning all funds coming in are already owed elsewhere.
Germany’s mad quest for power will get them again. Greece will be unable to pay, neither will Italy, Spain, Portugal, and many other Euro nations that owe Germany……………Germany will end up on the hook for all of these weak nations. So much chaos is coming to all……..
Loaning big bucks to anyone who cannot pay is like throwing money down a rat hole. This reminds me of a truly evil greedy gut woman I met visiting a friend of mine back in the 1980s. She was American who lived like a queen in Mexico. She complained about her servant problems…..ETC. But, she also told me with great satisfaction about her loaning business. She was loaning money to poor Mexicans. They would go to her for money, she would make them sign a contract. She would loan them $1000.00 at 90% interest. She would give them a $100.00 bill, and they were expected to repay her $1000.00.
I found her one of the most contemptible people I had ever met. I pointed out if they were that desperate, they would never have the money to repay her. She looked at me blankly………it was the receivables that turned her on……..
Like the Germans with the Greeks and other weak nations, they are chasing the wrong objective……..They will get burned, and it serves them right.
Bankers used to look at a person’s ability to pay before loaning money…..now, it is all about the debt they collect and sell on the stock market as an asset. It is all going to blow up because there is nothing behind any of these promises but ink.
The Euro will not survive, but the UK and the Swiss monies will……..So will the Indian and Russian currencies.
What can one say here.
Was it Germany…..or the private German Bankers?
Ask the ordinary Kraut in the strasse.
http://www.keeptalkinggreece.com/2015/08/10/study-germany-made-e100bn-profit-on-greek-crisis/