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Post by Jaga on Mar 4, 2010 4:07:21 GMT -7
I love this story ;D I wonder whether Germans would buy it?
BERLIN, March 4 (Reuters) - Greece should consider selling some of its islands as one option to reduce debt, two members of the German parliament in Chancellor Angela Merkel's centre-right coalition said
Josef Schlarmann, a senior member of Merkel's Christian Democrats, and Frank Schaeffler, a finance policy expert in the Free Democrats, were quoted on Thursday as saying that selling islands and other assets could help Greece out of its crisis.
"Those in insolvency have to sell everything they have to pay their creditors," Schlarmann told Bild newspaper. "Greece owns buildings, companies and uninhabited islands, which could all be used for debt redemption."
Greece has launched an austerity programme designed to secure European help to tackle its crippling debt burden. Opinion polls show Germans are overwhelmingly against taxpayers bailing out Greece.
Greece's deficit was 12.7 percent of GDP in 2009, well ahead of the EU's 3 percent of GDP limit.
Merkel will meet Greek Prime Minister George Papandreou in Berlin on Friday.
"The chancellor cannot promise Greece any help," Schaeffler told Bild in a story under the headline: "Sell your islands, you bankrupt Greeks! And sell the Acropolis too!"
"The Greek government has to take radical steps to sell its property -- for example its uninhabited islands," Schaeffler told Germany's best-selling daily newspaper.
Greek Deputy Foreign Minister Dimitris Droutsas was asked about the idea in an interview with ARD TV.
"I've also heard the suggestion we should sell the Acropolis," Droutsas said. "Suggestions like this are not appropriate at this time."
Germans have had an allergic reaction to reports their country may be part of a bailout for Greece. Europe's biggest economy itself is only just creeping out of its worst post-war recession
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Post by karl on Mar 4, 2010 8:11:16 GMT -7
For as a personal observation of the question of Greece to sell off some of the islands for purpose of cutting debt. I think perhaps this would prove in long run, a rather stupid idea. For some time now, since joining the EU, they have received a great deal of financial help with direct monetary gifts. So, the obvious question-What happened to those accounts? The following question that needs be of answer? If perchance a sale were to be consummated, how would the Greeks be able to manage these monies if they have not demonstrated any measurable past responsibility in their accounting affairs. It should be shown of their mentality in business dealings. Number one, they have stiffed us {HDW} in short time past with canceled contracts for marine weapons. Then to throw salt upon this wound, they waited until completion of the refurbishing of their ship yard with money resources from {HDW}, then with obvious intention of keeping the now refurbished ship yard as their own. This with their tearful request for debt forgivness.. I think perhaps the adage is so very true {NEVER TRUST A GREEK}. The following url obtained from Spiegel On Line International English edition, most best describes of the currant Greek mess. bit.ly/b6yCOcKarl |
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Post by kaima on Mar 4, 2010 8:38:10 GMT -7
Well, with Germany being one of the riches countries in the EU, and a 'Doner' country - one that pays in more than it receives from the EU - they have a good down payment on owning Greece!
The biggest benefit, particularly after this rough winter, is that they have bought some sunshine and blue sky, along with lots of beach!
If they were to do something like 'sell' the islands, I would suggest considering 99 year leases instead of transferring permanent property rights to a private buyer. This is what I feel the former communist countries should have done with the old castles and estates rather than transfer full ownership back to the former feudal owners. I think they screwed up.
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Post by Jaga on Mar 4, 2010 9:00:06 GMT -7
I do not see any problems with selling some of these bare unanhaited islands. Germans are very good in making everything productive.
Finally Germany would help another country and get something for it which they may be able to use better than anybody else! German Tourists love to travel all around Europe
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Post by Jaga on Mar 11, 2010 7:09:48 GMT -7
Greece hit by strikes over austerity plan ATHENS, Greece -- Savage street clashes erupted between rioting youths and police in central Athens Thursday as more than 30,000 people demonstrated during a nationwide strike against the cash-strapped government's austerity measures. Hundreds of masked and hooded youths punched and kicked motorcycle police, knocking several off their bikes, as riot police fired volleys of tear has and stun grenades to disperse the rioters. Earlier on, anarchist rioters threw stones and petrol bombs at police, and used sledge hammers to smash the glass fronts of more than a dozen shops, banks, jewelers and a cinema. Rioters also set fire to rubbish bins and a car, smashed bus stops, and chopped blocks off marble balustrades and building facades to use as projectiles. Police say at least nine suspected rioters were detained, while two officers were injured. www.washingtonpost.com/wp-dyn/content/article/2010/03/11/AR2010031100243.html?hpid=artslot |
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Post by karl on Mar 11, 2010 15:38:30 GMT -7
Greece hit by strikes over austerity plan ATHENS, Greece -- Savage street clashes erupted between rioting youths and police in central Athens Thursday as more than 30,000 people demonstrated during a nationwide strike against the cash-strapped government's austerity measures. Hundreds of masked and hooded youths punched and kicked motorcycle police, knocking several off their bikes, as riot police fired volleys of tear has and stun grenades to disperse the rioters. Earlier on, anarchist rioters threw stones and petrol bombs at police, and used sledge hammers to smash the glass fronts of more than a dozen shops, banks, jewelers and a cinema. Rioters also set fire to rubbish bins and a car, smashed bus stops, and chopped blocks off marble balustrades and building facades to use as projectiles. Police say at least nine suspected rioters were detained, while two officers were injured. www.washingtonpost.com/wp-dyn/content/article/2010/03/11/AR2010031100243.html?hpid=artslotIt would appear of a cause and effect of lack of communication between government and public. For often, this is the resulting reaction of a people of uncertainty and fear. For they {public} have no control of the actions of their government with the feeling of powerless and loss. It is then for this to manifest into reactionary conditions, in as such, rioting and actions of aggression against the will of their government, in this case as most always, the police of civil control. In the case of folding of police protection of the public, then it is military intervention as a final step of resolution. In the case of civil unrest, it is usually not a good ending for civilian individuals as participants when as the occasion arrises with conflict with combat troops. Karl |
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Post by Nictoshek on Mar 11, 2010 16:47:28 GMT -7
They're fearing a chain reaction effect from the Greece meltdown...with the troubled economies of Spain, Portugal and Ireland exploding next.
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Post by karl on Mar 12, 2010 10:50:17 GMT -7
For as of response of the currant and present Greek financial situation. For of this, a some what cause given for stomach gas.
The following of one in multitude of e-mail informational shorts of that I am becoming rather tired of the rhetoric. Words are little, action is realistic.
Germanic Stringency2010/03/09
BERLIN/PARIS/ATHENS(Own report) - The German government is seeking to obligate Eurozone nations to adhere to a rigorous government austerity program by establishing a European Monetary Fund (EMF), as revealed by aspects of a plan made public by the German Ministry of Finance a few days ago. According to this plan, countries threatened with bankruptcy may call for financial help from the EMF, but must, de facto, relinquish their budgetary sovereignty for a period of time. Countries, whose governments do not live up to the EU's financial regulations, will be threatened with painful sanctions, including exclusion from the Euro. With these EMF proposals, the German government is reacting to growing pressure, particularly from Western Europe, to finally establish a wide-ranging European financial and economic policy to confront the crisis. Berlin's proposals run counter, for example, to those of France and are being portrayed in the French press as "thoroughly Germanic". They are designed to enforce throughout Europe Germany's low-wage policy and strict austerity measures in social spending.
Not Under US Influence
The German Ministry of Finance published concrete plans last weekend for the establishment of a European Monetary Fund (EMF), patterned after the International Monetary Fund (IMF). It was the crisis in Greece that triggered this initiative. In Berlin, it is still being discussed whether - in case Athens' billions in budget cuts are insufficient to overcome the crisis - the Greek government should be financially aided or allowed to go into national bankruptcy.[1] The IMF is offering financial aid, and Berlin is doing everything possible to keep Athens from accepting IMF aid, because this would allow finance institutions in Washington, where the United States wields a lot of weight, to have a direct influence within the Eurozone. The German Ministry of Finance has therefore developed a concept for establishing an EMF.
European Economic Policy
The EMF concept is Berlin's reaction to French and Belgian proposals for promoting a better synchronization of economic and financial policies within the Eurozone, to avoid future crises such as in Greece. Paris is already in favor of a common EU economic policy. In early January, Paris had supported Spain's Prime Minister, José Luis Rodriguez Zapatero's demand that would have led to the establishment of an EU economic strategy. Germany had repeatedly refused this demand. Last week, Belgium's Prime Minister, Yves Leterme, spoke in favor of "establishing a common finance ministry or a European debt agency for the Eurozone."[2] Simultaneously, the idea of the creation of a European Monetary Fund has been discussed in Brussels and Paris since some time. While in Germany the idea was only being discussed in specialist circles four weeks ago, the French daily, Le Monde, published the fiery plea: "Let's Create a European Monetary Fund!"[3]
Speculators
In the meantime, Berlin is under growing pressure not just from Europe, to either agree to an IMF financial aid package for Greece or to the creation of an EMF. Monetary speculation aimed at the Euro and at Greece, whose source has been pinpointed particularly in US hedge funds, are a cause of concern in Germany that the Euro could sooner or later run into serious difficulties.[4] Therefore Berlin is seeking a means of creating structural access to financial aid for nations shaken by the crisis, to deprive speculators their prey. The EMF is one possibility. A spokesperson for the German Ministry of Finance had declared in mid-February that the EMF is "not suitable" for overcoming the crisis,[5] therefore, Finance Minister, Wolfgang Schäuble is tabling his own proposal.
Finance Dictatorship
According to his plan, the projected EMF will be allowed to provide financial aid, but with heavy strings attached. The indebted nations will, de facto, have their sovereignty in budgetary questions abrogated for a period of time. Financial aid should only be accorded, if no nation in the Euro group raises objections, which gives Germany a de facto veto right. In addition the Euro group must pledge themselves never to accept money from the IMF. There will be no guarantee of financial aid, so the prospect of a nation going bankrupt remains and exclusion from the Eurozone is possible. According to Berlin, the nations not abiding by the rules of the Stability and Growth Pact must receive much harder sanctions than before. For example a nation's right to vote can be rescinded - for up to a year - for a country that has violated the monetary rules. The country concerned would thereby de facto become subjugated to a foreign financial dictatorship.[6]
Hard to Swallow
Berlin's proposal of a future EMF reinforces restrictions laid down by the Stability and Growth Pact, which sets strict limits on government spending. This runs contrary to the plans particularly of France, which would have provided for a more open organization of the EU's economic policy. The British press therefore considers that the proposals of Berlin's Ministry of Finance should be "hard to swallow for France."[7] The French press writes that Berlin obviously believes that "with an EMF, a thoroughly Germanic budgetary stringency can, at long last, be imposed on its lax partners."[8]
Balkanization
The German Finance Minister wants, under all circumstances, to prevent Paris from watering down his proposals. Even though they publicly declare their complete opposition to his proposals, he can count on support from the majority of the members of his government coalition. For example, the finance expert Frank Schäffler (FDP), who only a few days ago suggested that Greece should sell some of its islands and have private companies help pay off its debts,[9] considers the proposal to establish an EMF to be "the wrong road to take." This would foster a Balkanization of the Euro.[10] Similar misgivings can be found among the Christian Democrats, according to the press. These comments are aimed at creating the impression in the German-European public opinion, that the German government has only a restricted margin of maneuver, facilitating the imposition of these rigorous proposals without too many changes. Just as the EMF is oriented on the IMF, further cutbacks and reductions can be expected in the EU's wage and welfare policy. IMF policies have often provoked protests and social upheaval the world over.
Karl
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