Euro Bailout

TOP GERMAN ECONOMIST: GREECE CAN NEVER REPAY WHAT IT OWES……..

The True Finns were right about not wanting to bail out the Greeks from the very beginning, and it they’ll be right on Portugal as well. Remember, when people talk of the EU central bank, they are talking about the bank of Germany, the two are one in the same.

Finnish EU economic commissioner Olli Rehn, has been disingenuous to the Finnish people and to the EU taxpayer from the very beginning, Greece and the rest of the troubled states are an endless, bottomless pit, with all of our good money being thrown down financial black holes. We’ll never get it back.

Olli Rehn and his entire clique of EU bureaucratic imbeciles should be brought up on charges of gross financial incompetence and recklessness with public money. They went against the EU’s own rules spelled out in the Lisbon Treaty (EU constitution) which prohibits assistance payments, and blew all our cash.

These EU hacks refuse to abide by their own laws that they’ve unilaterally set into motion, which not only further erodes their own credibility but of the institution that they represent. Face it, the EU is a corrupt, morally decrepit, inept institution, and the sooner it implodes the better. KGS

Stefan Homburg: [Greece is neither economically nor politically capable of sorting out its finances. It will never be in a position to repay the money that it has borrowed up to now. The German government will pay up all the same.]

Top Economist on the Euro Crisis

‘The German Government Will Pay Up’

[…]

Homburg: Absolutely. Greece is neither economically nor politically capable of sorting out its finances. It will never be in a position to repay the money that it has borrowed up to now. The German government will pay up all the same.

SPIEGEL: And what will happen next?

Homburg: Many politicians have also come to the realization that the path that we are on ultimately leads to national defaults and currency reforms. This process is already irreversible, but nobody wants to say it out loud and go down in history as the one who triggered the explosion. So we leave the bankruptcy to subsequent German governments and, in the meantime, throw good money after bad. Sooner or later, this much is certain, the system will be blown apart by political and economic factors. And, unfortunately, there is a great danger that, when this happens, it is not only the euro that will fall apart, but also the entire EU.

H/T: Fjordman

One Response

  1. No surprise here, the Greeks as a nation seem completely satisfied with their present situation of laziness, rampant corruption, income tax evasion on a national scale, with no even hint of any change, fiscal discipline, or austerity. The till is empty, the cupboard is bare yet like totally spoiled brats they take to the streets and demand even more. To make matters worse the fools in the EU are more then willing to give this hopeless addict another ‘fix’. IMHO Greece and some other EU countries are headed for a ‘Mad Max’ scenario, or some sort of complete breakdown of civil order which sadly will lead to chaos and the military called in to restore order.

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