Not Greek to Them

[don]

Greek Civil Servants Strike Over Austerity Measures

ATHENS — Striking civil servants brought public services to a halt across Greece on Wednesday, in a largely peaceful one-day protest against the tough austerity measures officials have said are necessary to stave off a mounting financial crisis.

Greece has been under intense pressure from other members of the European Union to cut its huge budget deficit and is in danger of failing to refinance some $28 billion in debt coming due in April and May. Fears of default in Greece and other struggling European countries have roiled financial markets around the world in recent weeks.

But the Greek government’s proposals for deep spending cuts to rein in the deficit have met significant resistance.

“We won’t pay for their crisis!” loudspeakers blared from Klafthmonos Square, otherwise known as “the square of the crying people,” where disenchanted Greek workers have come for centuries to express their discontent. “Not one euro to be sacrificed to the bankers!”

http://www.nytimes.com/2010/02/11/wo...greece.html?hp

[WildspitzE]

Re: Not Greek to Them

LOL.

[chr5648]

Re: Not Greek to Them

“We won’t pay for their crisis!”

Who caused it?

[GRG55]

Re: Not Greek to Them

Who caused it?

Well if we're not sure we can always blame it on Goldman Sachs...;)

[Chris]

Re: Not Greek to Them

I love the way that Stiglitz and that Spanish finance minister laugh at Hendry when he suggests debt jubilee as the only solution to the debt crisis.

Ohhh the (rich) fool. When will he learn...

[don]

Re: Not Greek to Them

I missed my chance on this one: Greece FIRE

[GRG55]

Re: Not Greek to Them

I love the way that Stiglitz and that Spanish finance minister laugh at Hendry when he suggests debt jubilee as the only solution to the debt crisis.

Ohhh the (rich) fool. When will he learn...

That's the same conclusion that EJ came to quite some time back [metal can dig out the references, I'm too lazy...].

[tsetsefly]

Re: Not Greek to Them

wasn't the debt caused by increased federal spending? including in the form of pensions, salaries etc. to state workers?

Funny that they dont wan't any cuts but want to be bailed out. They shoudln't be bailed out...

[Jay]

Re: Not Greek to Them

That's the same conclusion that EJ came to quite some time back [metal can dig out the references, I'm too lazy...].

Hudson has been touting a jubilee as the only solution for years. He has some papers that take a look back through the millennia and show how it has occurred many times. It is much easier to invoke when you have one all powerful head of state. Maybe that's where we are heading...

[kriden]

Re: Not Greek to Them

EU Will Fail Upwards Until it Really Fails:

This week's summit of EU leaders in Brussels rapidly evolves from a policy workshop into an historic gathering that may catapult the EU across the Rubicon towards fiscal federalism and a de facto debt union. The EU's top brass are seizing on the crisis to push for a radical extension of EU powers, saying Greece has exposed the deep flaws in the structure of monetary union. Herman Van Rompuy, the EU's new president, has submitted a text calling for the creation of an "economic government" that shifts responsibility for economic planning from national authorities to the "EU level". In a parallel move, Commission chief Jose Barroso said Brussels has treaty powers allowing it to take the reins of economic management. " This is a time for boldness. I believe that our economic and social situation demands a radical shift from the status quo. And the new Lisbon Treaty allows this," he said. - UK Telegraph

Dominant Social Theme: Having failed, the EU must acquire more powers.

Free-Market Analysis: The European Union, like Frankenstein's monster, is not about to die again - or not if its leaders can help it. Every crisis, every mis-step, every unworkable solution only provides those running the EU with additional reasons why the EU should obtain more power. It is a classic case of failing upward, and a cynical one as there is ample evidence that those who founded the EU always expected that serial crises would present themselves as an opportunity to create an ever-closer union.

More:
http://www.thedailybell.com/802/EU-W...lly-Fails.html

[GRG55]

Re: Not Greek to Them

EU Will Fail Upwards Until it Really Fails:

This week's summit of EU leaders in Brussels rapidly evolves from a policy workshop into an historic gathering that may catapult the EU across the Rubicon towards fiscal federalism and a de facto debt union. The EU's top brass are seizing on the crisis to push for a radical extension of EU powers, saying Greece has exposed the deep flaws in the structure of monetary union. Herman Van Rompuy, the EU's new president, has submitted a text calling for the creation of an "economic government" that shifts responsibility for economic planning from national authorities to the "EU level". In a parallel move, Commission chief Jose Barroso said Brussels has treaty powers allowing it to take the reins of economic management. " This is a time for boldness. I believe that our economic and social situation demands a radical shift from the status quo. And the new Lisbon Treaty allows this," he said. - UK Telegraph

Dominant Social Theme: Having failed, the EU must acquire more powers.

Free-Market Analysis: The European Union, like Frankenstein's monster, is not about to die again - or not if its leaders can help it. Every crisis, every mis-step, every unworkable solution only provides those running the EU with additional reasons why the EU should obtain more power. It is a classic case of failing upward, and a cynical one as there is ample evidence that those who founded the EU always expected that serial crises would present themselves as an opportunity to create an ever-closer union.

More:
http://www.thedailybell.com/802/EU-W...lly-Fails.html

Dominant Financial Policy Overhaul Theme [in the USA]: Having failed [at it's regulatory responsibilities] the Fed must acquire more [regulatory] powers...:rolleyes:

[GRG55]

Re: Not Greek to Them

I missed my chance on this one: Greece FIRE

Not to worry don...plenty of time yet...it's not as though the situation is moving as fast as Greeced lightning...

And besides we know the sqeECBy wheel gets the Greece...

[raja]

Re: Not Greek to Them

Hudson has been touting a jubilee as the only solution for years. He has some papers that take a look back through the millennia and show how it has occurred many times. It is much easier to invoke when you have one all powerful head of state. Maybe that's where we are heading...

A debt jubilee requires that the creditors, i.e., the Financial Elite, take a haircut. Do you think they will submit to that willingly? Of course not. The only way is to force them through governmental control.

The Politicians are in the pockets of the Financial Elite. Do you think they will willingly bite the hand that feeds them? Of course not. The only way is to force them.

And how can the Politicians be forced to act in the benefit of the People? The People have to force them, or they will suffer the consequences of their inaction.

If the People don't act, then we will have Debt Servitude or Dictatorship, both of which are forms of slavery.
So our choice is slavery or class warfare. I hear Goldman Sachs is long chains . . . .

[dcarrigg]

Re: Not Greek to Them

I hear Goldman Sachs is long chains . . . .

+1
____________

[ThePythonicCow]

Re: Not Greek to Them

I hear Goldman Sachs is long chains

But I also hear that JPMorgan is short Goldman...

It's the Battle of the Oligarchs!

Just as the European "Community" is failing upward, so are the "United" States, and overriding all that, the New World "Order."

"They" are building a strong case for stronger central regulation. "They" have a deep and abiding faith in Freedom -- one Freedom in particular -- the Freedom to Rule.