Greek Bonds Rise for Third Day as EU Leaders Reach Debt Accord
Feb. 11 (Bloomberg) -- Greek bonds rose for a third day as European Union leaders demanded the nation’s government get its budget deficit under control, while stopping short of offering specific measures to help manage the country’s debt.
Please focus on those words for a few moments.
“We are sending a signal that is clear, unambiguous, and strong,” Sarkozy said. “Greece is part of Europe, it is part of the euro zone, and we will defend Greece. There will be rigor and transparency on the side of Greece, and solidarity on the side of the other EU countries.”
Wow! That's some serious support! Thank God someone in charge had a Thesaurus!
Who would have guessed that they could be that clear, unambiguous, strong, rigorous, and transparent while simultaneously coming up so short on details? It's a miracle I tell you.
As clear cut as Paulsons 3 page TARP plan that said "give us cash, trust us, and we cannot eb held criminally liable". About as clear cut as can be!
ReplyDeleteG.H.,
If you swing in glad your dad is doing better. I can attest not much can be worse than losing your dad at a young age. Best wishes.
GYSC,
ReplyDeleteI'm going to go way out on the limb here and say that THIS does not look anything like Paulson's plan. ;)
Moral support but no money, EU says to Greece
http://finance.yahoo.com/news/Moral-support-but-no-money-EU-apf-818715776.html?x=0&sec=topStories&pos=2&asset=&ccode=
1. It actually uses the word moral.
2. Where's the frickin' money?
More notional money in the form of loans that will never be paid back just rolled over until the end of time. The same old song.
ReplyDeleteGYSC,
ReplyDeleteI'm working under the assumption that Germany's taxpayers won't cough up much actual money for Greece's taxpayers.
We'll see!
Remember a bluff works as long as you are not called; thats the problem right now, so many bluffs but few calls so the whole things stays together. Someone might call the worlds "all in" and then I am glad I have a toilet paper closet stash!
ReplyDeletePS,
they are raising gold/silver/palladium margins so that should be interesting.
GYSC,
ReplyDeletePS,
they are raising gold/silver/palladium margins so that should be interesting.
Please don't squeeze the margins!
http://www.youtube.com/watch?v=BOA2xDlKrlQ
$345! That's my lowest offer!
History repeating itself over and over and over and over...
ReplyDeleteThe Munich Betrayal 1938:
http://www.youtube.com/watch?v=nZHpprf6HSM
We all know what happened soon after, yet people BELIEVED.
Moneta,
ReplyDeleteI almost went there too. I guess I am now.
Axis occupation of Greece during World War II
http://en.wikipedia.org/wiki/Axis_occupation_of_Greece_during_World_War_II
The country's weak economy had already been devastated from the 6-month long war, and to it was added the relentless economic exploitation by the Germans. Raw materials and foodstuffs were requisitioned, and the collaborationist government was forced to pay the cost of the occupation, giving rise to inflation, further exacerbated by a "war loan" Greece was forced to grant to the German Reich.
The EU is no doubt one big happy family now though. At least that is what I am told to BELIEVE.