He folded like a coward and if the greek people who not only elected him to avoid this but voted against it in a referendum accept this then screw them, far from being a victory it just kicks the can yet again down the road. Unless you are a trader or investor in which case merkel expects a percentage of everything you do...
I do not live in Germany, am not subject to German taxation nor is a single of my savings used for this crap. But thank you for your concern.
Oh jolly good I am glad, the point still stands. Far from being a shinning light for honesty and truth germany is acting like a peice of """" forcing this crap through and doing what ever it can to force the cost of doing so onto other people. A true victory, for honesty and sense would have been to kick greece out of the zone, giving the currency a fighting chance of survival and putting greece onto the only path of recovery it has...so..popcorn....next few years will be interesting.
FRANKFURT — The International Monetary Fund threatened to withdraw support for Greece’s bailout on Tuesday unless European leaders agree to substantial debt relief, an immediate challenge to the region’s plan to rescue the country. The aggressive stance sets up a standoff with Germany and other eurozone creditors, which have been reluctant to provide additional debt relief. The I.M.F role is considered crucial for any bailout, not only to provide funding but also to supervise Greece’s compliance with the terms. A new rescue program for Greece “would have to meet our criteria,” a senior I.M.F. official told reporters on Tuesday, speaking on the condition of anonymity. “One of those criteria is debt sustainability.” ---- Ouch. For the slow among us the above is not my work and neither do I present it as so.
* Has Germany not paid the most into the European pot since 1990? * Has the UK not been granted many exceptions in its dealing with the EU, of which it is a member? The latest being that the UK was granted the payment of over 2 billion euros of unpaid member fees in tranches rather than in one single immediate payment? And now there is an outcry in the UK that potentially money from the ESFM is used for Greece? How much hypocrisy can come out of the UK. Please do not lecture Europeans and the rest of the earth how the British understand solidarity and equal treatment. So far for the Brits it has been according to the credo "gimme freebies if they are free, and many exemptions for our financial market in London, but fuxx you guys in continental Europe, we don't wanna make any sacrifices whatsoever". The bully spiel applied by the UK is almost on the same low level as Greece's game.
Thanks for acknowledging your sources. Are you too poor to afford a FT subscription by the way? By the way, of course the IMF wants this and wants that, after all nobody wants to pay a penny anymore. But make no mistake Germany and Northern Europe did not allow Greece to blackmail and bully them and it will not allow the IMF to attempt the same. You will see, the IMF will shut up, all big talk.
Are you Jewish or something? You seem to bring this up a lot. Anyways, who else is looking forward to trading D-mark futures?