Euro stability more important than Greece, says Angela Merkel

[CHIMO]

Source: The Guardian

Greece will receive no more European bailout money until it decides whether it wants to stay in the eurozone, Nicolas Sarkozy and Angela Merkel announced on Wednesday night.

The French president and German chancellor hastily convened a late-night press conference after holding what they called "tough and hard" emergency talks with the Greek prime minister on the margins of the G20 summit in Cannes.

They made clear that saving the euro was ultimately more important to them than rescuing Greece.

European leaders were angered and markets wobbled over George Papandreou's surprise unilateral announcement on Monday that he would hold a referendum on a €130bn (£111.9bn) bailout deal reached with eurozone leaders at a Brussels summit last week.



Read more: http://www.guardian.co.uk/business/2011/nov/03/euro-stability-more-important-greece

[global1]

1. Thinking About This It Is An Interesting Strategy......

now the Greek's will have to decide on the lesser of two evils: 1. A severe austerity program that means sacrifice for most in order to save the country from economic doom; or 2. Going it on their own and possibly facing economic doom and losing everything. How will the Greek people vote? Is this the choice we in America will have to make down line? Pretty scary but compelling.

[Moostache]

3. not a choice the USA will ever make...

We have way too many chicken hawks and actual sociopaths to forgo the "forgive our debts or we bomb you" strategy - which of course will be couched in very much different terminology like "the terrorists are setting up in your country and we will no longer stand for this!".

Bottom line...the debts being run up by the United States are NEVER going to actually be paid and that is part and parcel of the entire global farce that passes for an economy now. We have been playing a shell game, or 3-card Monte...the bottom line is that the "winners" are already out, the "losers" is pretty much everyone else and the aftermath is going to be chaos.

[lovuian]

5. I bet Greece will go the way of Iceland

and that is the best idea for the people of Greece

Better for the people to choose their futures than another country telling them

When they get their house in order they may return to the Euro

[Demeter]

2. WRONG!

People are more important than fiat money, Angela. Even if they can't vote for you, they are still living breathing humans, cousins, family.

As for the Euro, it's a failed product. Recall it and try something better.

[DJ13]

4. "The ability of the wealthy to continue leeching off of Greece is of the utmost importance"

[creeksneakers2]

7. The wealthy aren't leeching off Greece

The Greek deadbeats were already offered 50% loan forgiveness and that isn't good enough for them. Everybody is losing, including me and my severely damaged 401K.

This situation comes from Greek irresponsibility, not some scam by the "rich."

[SoCalMusicLover]

6. The Writing Is On The Wall

It really doesn't matter what happens. Even the "bailout" being proposed is a band-aid for a patient that is on life support. Their solution is no different than the U.S. has for the housing debacle. Kick the can down the road, and hope that eventually the can picks up enough speed to get somewhere without being kicked.

It's a long, long, long way from that, and instead of facing reality, they're going to do what delays the inevitable. It won't be pleasant.

[harvey007]

8. What she's really saying to the people of Greece

is that the international banking cartel is more important than you...so do what you're told and shut the hell up and keep on sacrificing so the rich can get richer.

[Little Tich]

9. I have a nagging suspicion that Greece will vote against the bailout.

It's not in their interest, but if they don't want to be saved, it's not much anyone can do.

[jeanmarc]

10. Say goodbye to Italy and likely France too

At least that's what I'm reading. All it takes is the start of one nation falling for the rest to fall.

[DeSwiss]

11. K&R

Sarkozy Merkel ______________ Papandreou



Greek people ----->

[PSPS]

12. Translation: Casino profits more important than people, says Angela Merkel

[Name removed]

13. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DonCoquixote]

14. Funny

When the EU was all about Paris, Berlin and London barking out orders to Eastern Europe, they all loved the idea. When people posted about how "THE EU is the largest world power", they loved it, but now they find that the real work of making a federal government is not so easy. Not that it is not needed. I know some dream wistfully of an independent Cascadia or California or Vermont or Texas, but the truth is, Asia's big states are uniting (and yes, Russia is one of them, despite the veneer.) We need to make our governments work, else we will fall to these states that often combine the worst elements of fascism and Stalinism.