EU Euro Bailout Greece Socialism


The Tundra Tabloids’ prediction; the Greeks will opt for the Drachma, refuse to cut back on the public sector, with big unions busting the governments chops at every turn and will never break free from their socialism until their is major civil unrest, even all out violence. Years of socialism has corrupted the land and turned the people into a whole class of whiners dependent upon the government for everything. KGS

Greece Considers Exit from Euro Zone

By Christian Reiermann

A protest against austerity measures in Athens. Greece is considering leaving the euro zone, according to sources in the German government.

The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government’s actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area’s finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night.

Greece’s economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou’s government is considering abandoning the euro and reintroducing its own currency.

Alarmed by Athens’ intentions, the European Commission has called a crisis meeting in Luxembourg on Friday night. The meeting is taking place at Château de Senningen, a site used by the Luxembourg government for official meetings. In addition to Greece’s possible exit from the currency union, a speedy restructuring of the country’s debt also features on the agenda. One year after the Greek crisis broke out, the development represents a potentially existential turning point for the European monetary union — regardless which variant is ultimately decided upon for dealing with Greece’s massive troubles.

More here.

3 Responses

  1. IMHO even if Greece leaves this fools’ game called the EU of goes back to their former currency they will pay dearly, the international money crowd who pushed this scheme in the first place will brow beat them with ultra high interest rates and demand repayment on past debts. one can only imagine the chaos and suffering to come, once the banks collapse in Greece. If and when Greece leaves what country will be next? Whatever the outcome is there will be much finger pointing and accusations in Brussels, while the poorer Eastern European countries are badgered into bailing out country after country. But in reality it is the international banks and bankers to which the money is owed that are being bailed out.

    1. They create the “two tier” Europe again in order to forestal the inevitable collapse.

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