DE GROTE EURO ZONE CRISIS : The Endgame

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Oorspronkelijk geplaatst door Bolleke Wol

Gaat het je verstand te boven?

http://forum.politics.be/newreply.ph...eply&p=5234614

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Meer blufpoker ?

Zero Hedge - German Press: "The Greek Exit Is A Done Deal"


<sub>Did France, Italy and Greece think they are the only ones who can float strawmen in the media? No. Once again, Germany shows us how it is done. From Tomorrow's edition of Deutsche Wirtschafts Nachricthen: "The Greece-exit is a done deal: According to the German economic news from financial circles EU and the ECB have abandoned the motherland of democracy as a euro member. The reason is, interestingly, not in the upcoming elections - these are basically become irrelevant. The EU has finally realized that the Greeks have not met any agreements and will not continue not to meet them. A banker: "We helped with the Toika. The help of the troika was tied to conditions. Greece has fulfilled none of the conditions, and has been for months now." So more posturing? Or is Germany truly just so sick and tired of bailing out not just Greece (which pockets between 0% and 20% of any actual bailout cash), and indirectly French banks which as of this moment are the biggest pass thru beneficiaries, and of course the ECB with its tens of billions in old par GGB holdings, that this article is, gasp, founded in reality? Is Europe approaching its own Lehman moment when everyone says "just screw it", and let the dice fall where they may? Many said Lehman could never be allowed to fail. They were wrong. Just as many are saying that Europe will never let Greece leave as the costs to the continent are just too great. Well, judging by tonight's epic fiasco of a Euro-summit, the last thing we would attribute to Europe's leaders is clear and rational thought.

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[Antoon]

Oorspronkelijk geplaatst door zonbron

Ja hoor, maar het is alvast niet alle dagen even leuk.

Dat snap ik wel. Al dat schrijven en copy/pasten en geen respons.

Dank U voor het onderbreken van de monoloog.

Graag gedaan.

Hoe gaat het met U beste @Antoon ?

Prima dank u. Mooi weer buiten, zaken lopen niet slecht, weer veel bestellingen binnen. We hebben zelfs nieuwe mensen aangeworven.

Verder nog iets OT te vermelden ? Graag.

Tuurlijk: ik geloof niet in doemscenario's.

Net als het einde van de wereld wat in de jaren '90 werd aangekondigd voor eind van vorig millenium (we zijn er toch nog )

Net als het gedoe van de Maya's en het einde van de wereld in 2012, wat - weer eens - totaal uit de lucht gegrepen is (zo blijkt uit de laatste ontdekkingen van archeologen, en ik herinner u er met plezier aan in januari 2013)

Net als de derde wereld oorlog (reeds tig keer aangekondigd sinds de jaren '50, niet in het minst de laatste jaren), wat blijkbaar niet wilt komen (gelukkig maar).

Net als het einde van de wereldeconomie dat sinds de financiële crisis van 2008 werd aangekondigd. Het zijn zware tijden geweest, en er komen zeker in Europa nog pijnlijke aanpassingen vanwege de jarenlange geldsmijterij naar een werkonwillige bevolking), maar er is geen 'totale crash van de wereldeconomie' gekomen.

etc...

... ben ik er zoals altijd al, vast van overtuigd, dat het ook nu gewoon goed komt.

De wereld blijft draaien, de zon blijft schijnen (al heb je af en toe een regenbui nodig), de mensen blijven eten, zich aankleden, bouwen, rijden, werken, reizen, kindjes kopen, etc...

Ik wens ook u in deze configuratie een leuk, gezond en voorspoedig plekje.

[Antoon]

Oorspronkelijk geplaatst door zonbron

http://forum.politics.be/newreply.ph...eply&p=5234614

[zonbron]

Oorspronkelijk geplaatst door Antoon

Dat snap ik wel. Al dat schrijven en copy/pasten en geen respons.

ongeveer 25.000 gelezen en U hebt ongeveer een 25.000 posts...

Graag gedaan.

Welkom !

Prima dank u. Mooi weer buiten, zaken lopen niet slecht, weer veel bestellingen binnen. We hebben zelfs nieuwe mensen aangeworven.

Geen dank, U maakt me benieuwd...

Tuurlijk: ik geloof niet in doemscenario's.

Net als het einde van de wereld wat in de jaren '90 werd aangekondigd voor eind van vorig millenium (we zijn er toch nog )

Net als het gedoe van de Maya's en het einde van de wereld in 2012, wat - weer eens - totaal uit de lucht gegrepen is (zo blijkt uit de laatste ontdekkingen van archeologen, en ik herinner u er met plezier aan in januari 2013)

Net als de derde wereld oorlog (reeds tig keer aangekondigd sinds de jaren '50, niet in het minst de laatste jaren), wat blijkbaar niet wilt komen (gelukkig maar).

Net als het einde van de wereldeconomie dat sinds de financiële crisis van 2008 werd aangekondigd. Het zijn zware tijden geweest, en er komen zeker in Europa nog pijnlijke aanpassingen vanwege de jarenlange geldsmijterij naar een werkonwillige bevolking), maar er is geen 'totale crash van de wereldeconomie' gekomen.

etc...

... ben ik er zoals altijd al, vast van overtuigd, dat het ook nu gewoon goed komt.

De wereld blijft draaien, de zon blijft schijnen (al heb je af en toe een regenbui nodig), de mensen blijven eten, zich aankleden, bouwen, rijden, werken, reizen, kindjes kopen, etc...

Ik wens ook u in deze configuratie een leuk, gezond en voorspoedig plekje.

Tja, geloof, etc etc...

Volgens een recente enquete zouden veel mensen besparen op kleding, eten, rijden, verwarming en elektriciteit. Maar goed, Uw bestellingen zijn binnen.


Bedankt voor Uw wensen, dat is reeds lang in orde en hopelijk blijft dat nog lang zo.

[kelt]

Oorspronkelijk geplaatst door Bolleke Wol

zaagt zo niet, rampprofeet.

t'is eigenlijk waar..Dankzij de aanstaande studie naar euro-obligaties komt alles weer goed....

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Oorspronkelijk geplaatst door kelt

t'is eigenlijk waar..Dankzij de aanstaande studie naar euro-obligaties komt alles weer goed....

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Ex-Bilderbergbezoeker en voormalig voorzitter van de Canary Wharf Group Sir Martin Jacomb wil 5 dagen bank holiday om het overschakelen van de euro naar nationale munteenheden voor te bereiden.

FT - We must break up the failing euro


<sub>As the struggle to preserve the euro goes on, two worrying trends are emerging. One is the migration of able and energetic young people away from the poorer eurozone countries. The other is the increasing belief that, since the euro is shaky, it is better to have your deposits in German banks than in those of the weaker countries.

Unless addressed at once, both these developments may become irreversible – but the second is the more urgent. The domestic banks of weaker eurozone members are losing deposits. The pontifications of European leaders have given the impression that Greece may revert to a new national currency. Depositors who envisage their euro deposits being converted into devalued new drachma are withdrawing them and keeping the money in euro notes (a liability of the European Central Bank) or in deposits with German banks. It amounts to a slow run on Greek banks.

This is greatly weakening the banks from which the money is withdrawn and lessens any chance of recovery in that economy. It may already be too late to alleviate the position in Greece, but this trend may develop in other weak eurozone countries.

Once a bank run starts to develop, it is already too late to take action. So now is the time to act, to ensure that a euro deposited with any sound bank will be worth the same as one with a bank domiciled in a strong country. Otherwise the banking sectors of the weaker countries may be seriously damaged.

Given Germany’s understandable reluctance to underwrite the euro system without limit, it is difficult to do this. But unless a way is found, the situation may get a whole lot worse without much warning.

One way would be to accept that the opportunity to “save the euro” has been lost and for all 17 members to decide at once to revert to national currencies. The chance of differentiating between eurozone countries, weak and strong, has been lost. This is how it could be done.

There must be no advance warning. Experience shows that currency break-ups, like devaluations, have to be handled so as to avoid anticipatory speculative activity. The essential requirement is a single, unequivocal decision to revert to national currencies, reached confidentially by all 17 governments and announced without prior notice.

The decision would be that all obligations and rights denominated in euros would be converted legally into rights and obligations denominated in new national currencies, with each euro henceforth to be divided into the 17 national currencies in the proportions in which member states hold capital in the ECB. All 17 governments would undertake to legislate to confirm this.

The conversion would apply not only to notes, bank deposits and loans, but also to bonds, including sovereign bonds, and to commercial contractual rights. There would be no difference between the worth of a euro deposit with a German bank and one with a Greek bank. Legal disputes about commercial obligations would mostly be avoided.

In theory, the aggregated values of the fractions of each euro should be the same as the value of the euro itself, but in practice there would be a discount from the previously prevailing value because of the need to unwind the agglomeration of national currencies. The holders of what were euros would want to sell the fractions they did not want and in exchange buy the fractions sold by others, so that all would end up holding the currency they wanted.

There would be a five-day bank holiday to enable foreign exchange markets to prepare.

Euro notes would continue to circulate until the new national currency notes were available. It would not be possible to unwind the euro notes while they were in circulation. But where quantities of notes are held, they could be deposited with a bank to effect the exchanges desired.

...

Sensible values would quickly emerge; these currency variations are what is needed anyway in order to achieve competitiveness. Confidence would soon start to reappear.

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De euro zone crisis bedreigt de wereldwijde groei

NY Times - Euro Zone Crisis Boils as Leaders Fail to Signal New Steps



<sub>BERLIN — With Greece’s membership in the euro zone teetering, fears of bank insolvency rising and Europe’s leaders bickering about what to do, the euro crisis is once again intensifying and threatening to undermine fragile growth globally.

At a summit meeting in Brussels on Wednesday, regional leaders failed to signal any significant new steps to stimulate the sputtering regional economy or resolve the competing agendas of President François Hollande of France, who favors stronger action to spur growth, and his German counterpart, Chancellor Angela Merkel, who has opposed aggressive moves to ease the pressure on Europe’s weakest economies.

Yet, the urgency for a solution to the region’s debt crisis, now in its third year, may never have been greater.

With international economic monitors warning that the Continent could slide back into recession, Spain has watched its borrowing costs climb to unsustainable levels, as concerns rise about the country’s weakened banking sector. Fears continue to grow that it will be difficult to avoid a messy divorce between Greece and the euro zone, with still unpredictable consequences for markets and other struggling European economies, including Spain and Italy.

In a conference call held on Monday, finance ministry officials from the euro zone countries were urged to make sure contingency plans were in place for all eventualities, including a Greek exit, one European official involved said.

“You have a debt crisis, a banking crisis and a political crisis. Those are the three crises that are occurring simultaneously,” said Thomas Cooley, economics professor at the New York University Stern School of Business. “Anything that undermines confidence in the financial system is bad, not just for the European financial system but the U.S. financial system as well.”

Problems in Europe pose a threat to President Obama’s re-election plans as well, because a deeper slump there could drag down the United States economy, as happened a year ago. In a recent report, the Organization for Economic Cooperation and Development cited Europe’s potential slump as the leading threat to global growth.

...</sub>

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Heeft Europa de crisis nog onder controle ?

Business Time - Euro Crisis: Is the Currency (Finally) Doomed?


<sub>Since the start of Europe’s debt crisis in 2009, there has been a steady drumbeat of predictions that the euro was doomed. The problems were too intractable, the debts too large, the political will too feeble. So far, the doomsayers have been wrong. The leaders of Europe have managed to put a bandage here and a few stitches there to keep the monetary union together. But now we really have to ask if the game is up. The years of half-measures, misguided policy and delusional stubbornness may finally be building up to crush the euro, like a cartoon snowball rolling downhill. Financial markets are clearly smelling an approaching debacle – the euro this week hit its lowest level against the dollar since mid-2010.

Let’s take a quick look at the mounting evidence of impending catastrophe:

Europe has all but admitted that Greece will exit the euro zone. It seems impossible to me that the second round of elections in Greece on June 17 will produce a government that will strictly adhere to the austerity measures agreed to by the previous government in return for European Union bailout funds. Yet German Chancellor Angela Merkel has made it clear she has no intention of renegotiating. “We want Greece to remain in the euro zone,” she said after Wednesday’s summit of E.U. leaders in Brussels. “But the precondition is that Greece upholds the commitments it has made.” With that attitude, the leaders of Europe might as well boot Athens out of the union right now. Unless someone is willing to bend here, Greece won’t get its rescue money, and will likely run out of funds by early July, which could force the country to reissue its own currency. No wonder European finance ministers earlier this week talked of the need for contingency plans to combat a Greek exit.

(MORE: Euro Crisis: Why a Greek Exit Could be Much Worse Than Expected)

If a failed bailout doesn’t push Greece out of the euro zone, the slow-motion bank run will. Unless something is done to stop the flow of deposits out of Greek banks, the sector will eventually fail, and that, too, could propel Greece to ditch the euro. And if that happens, the Greek bank run could spread to other weak euro countries like Spain and Italy, nudging them out, as well, and threatening the entire union.

If Greece doesn’t tip off a wider crisis, then Spain just might. The situation in Spain continues to deteriorate. The zone’s fourth-largest economy finds itself in a nasty, no-win situation. If Madrid moves aggressively to fix its banks, which are burdened with massive bad loans from the country’s property bust, it could blow out the government’s finances (as in Ireland) and push the country towards a bailout. If Madrid continues to go slow on fixing its banking mess, uncertainty will persist, the economy will remain stagnate, and the country could slip towards a bailout. If the Spanish government asks the euro zone for funds to help shore up its banks, it could get cut off from private funding and end up needing a bailout. All I can say is: Oy vey!

Meanwhile, amid all of this chaos, the leaders of Europe have had no response. At their summit this week, European leaders announced no new initiatives for tackling the debt crisis. In fact, the divisions in Europe appear to be widening. Camps are emerging between those who want to move more decisively towards solving the crisis, by, for instance, issuing eurobonds, and those (in other words, Germany) who refuse to change course despite the mounting evidence that that course has failed.

(MORE: Is a Greek Exit from the Euro Inevitable?)

It comes as no surprise, then, that people are openly talking about preparing for an end to the euro. Martin Jacomb, chairman of Share Plc, wrote in the Financial Times that it might be best for Europe to simply throw in the towel and concede that the euro is a failure:

...


Yet the risks are rising that the debt crisis is slipping out of Europe’s control and the weight of the combined threats to the euro is becoming overwhelming. The world needs a firm plan of action from Europe: a euro-wide deposit insurance scheme to stop a euro-wide bank run; a real recapitalization program for weak euro zone banks; a clear plan on what to do with Greece; an expanded firewall to protect Spain and Italy from any Greek fallout; and a true agenda to support growth.

We’re not close to any of these steps. The more time slips away, the more likely the euro will, too.</sub>

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Lees ook :

Global Economic Analysis - Containment Theory Blows Sky High: German Manufacturing PMI Plunges to 45; French Manufacturing PMI Plunges to 44.4, Sharpest Contraction in 3 Years

CNN - A Greece euro exit could make Lehman's collapse 'look like a tea party

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Oorspronkelijk geplaatst door Antoon

[kelt]

Blijkbaar is er een Duits "voorstel" in omloop.

Het zou ongeveer hierop neerkomen :"Stop met zagen en doe zoals ons"....

Diegenen overigens die denken dat,als Frau Merckel van het toneel verdwijnt en er een Socialistische Kanselier(ster) te tonele verschijnt Duitsland dan zacht zal worden...wel...die vergissen zich deerlijk!

Het gaat nu om het meest essentiele in onze maatschappij GELD!

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Bankia zou nu 19.000 miljoen euros nodig hebben

ZERO HEDGE - Bankia Bailout Costs Rise Again, Now At €19 Billion, €4 Billion Increase Overnight
Reuters

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Oorspronkelijk geplaatst door kelt

Blijkbaar is er een Duits "voorstel" in omloop.

Het zou ongeveer hierop neerkomen :"Stop met zagen en doe zoals ons"....

Diegenen overigens die denken dat,als Frau Merckel van het toneel verdwijnt en er een Socialistische Kanselier(ster) te tonele verschijnt Duitsland dan zacht zal worden...wel...die vergissen zich deerlijk!

Het gaat nu om het meest essentiele in onze maatschappij GELD!

Wat gaat er met dat essentiele gebeuren ? Onze leider zijn moraal failliet...

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Draghi is feeling the load

The debt is about to explode

It isn't a shocker

He's in the hurt locker

The hopium line he has towed



The Limerick King



Merkel knows things can't go on
Keynesian growth is a con
The bill has come due
Her options are few
Embracing the final black swan

The Limerick King



AS A REMINDER...



Meer : Williambanzai7

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Bekijk het debat LIVE

Munk Debates Live: "Has The European Experiment Failed?" - Niall Ferguson And Others Dissect Today's Most Critical Issue

ENJOY !

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S&P (Spanje) : Bankia = rommel...


ZERO HEDGE - S&P Junks Nationalized Bankia, Downgrades Various Other Banks

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Lagarde & het IMF zijn de Grieken spuwzat !

PAYBACK TIME NU of... of.. NU !!! En de Grieken moeten op geen sympathie meer rekenen. Nu betalen !

GUARDIAN - It's payback time: don't expect sympathy – Lagarde to Greeks
Take responsibility and stop trying to avoid taxes, International Monetary Fund chief tells Athens. The IMF has no intention of softening the terms of Greece's austerity package, says Christine Lagarde.

<sub>...

The International Monetary Fund has ratcheted up the pressure on crisis-hit Greece after its managing director, Christine Lagarde, said she has more sympathy for children deprived of decent schooling in sub-Saharan Africa than for many of those facing poverty in Athens.

...

Asked whether she is able to block out of her mind the mothers unable to get access to midwives or patients unable to obtain life-saving drugs, Lagarde replies: "I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of them, and who are very keen to get an education. I have them in my mind all the time. Because I think they need even more help than the people in Athens."

Lagarde, predicting that the debt crisis has yet to run its course, adds: "Do you know what? As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax." She says she thinks "equally" about Greeks deprived of public services and Greek citizens not paying their tax.

"I think they should also help themselves collectively." Asked how, she replies: "By all paying their tax."

Asked if she is essentially saying to the Greeks and others in Europe that they have had a nice time and it is now payback time, she responds: "That's right."</sub>

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Duitsland keert Griekenland de rug toe.

-Gaat Duitsland uiteindelijk zelf nog de euro willen behouden in de nabije toekomst ?

ZERO HEDGE - Germany Walks Away From Greece