[qqqbear]

Greek political leaders agree on bailout reforms: sources
Reuters – 12 minutes ago.. .

ATHENS (Reuters) - Greek political leaders have clinched a deal on austerity measures needed to secure a bailout to keep the country afloat, two government sources said on Thursday.

"Yes, there is a deal," one government official said.

http://finance.yahoo...077602.html?x=0

[jmpbear]

Not so quick, this is Greece and they keep on losing the paperwork.

No Deal!!!

http://finance.yahoo...-110303771.html

Joe

[qqqbear]

BS.
There is no deal until there is a revenue "set aside" that the greeks cannot touch....they will get whatever is left to operate on.
The same coming for Portugal....

[Pulp_Cutter]

qqqbear, on 09 February 2012 - 08:39 AM, said:

Greek political leaders agree on bailout reforms: sources
Reuters – 12 minutes ago.. .

ATHENS (Reuters) - Greek political leaders have clinched a deal on austerity measures needed to secure a bailout to keep the country afloat, two government sources said on Thursday.

"Yes, there is a deal," one government official said.

http://finance.yahoo...077602.html?x=0

And immediately the Greeks themselves announce two-day strike. The last strike, earlier this week or late last week, involved virtually 100% of the Greek labor force. Further, Greece is NOT implementing the austerity measures. The leadership is signing agreements they have no ability (and thus no intent) to implement. They were supposed to move hundreds of thousands of govt employees to a much lower wage pool; they've moved less than 10% of the agreed-on number. They were supposed to sell some 200 billion in Greek govt property to the same banks doing the bailouts; they've sold only $5 billion worth, saying they refuse to sell more assets at fire-sale prices.

Nothings changed: the Greeks continue to pretend to implement austerity, and the EU continues to pretend to bail them out. Wait'll we get to Italy! LOL

[qqqbear]

The irony of course is that Greeks know exactly what is coming.
Have known for more than 2000+ years.....
Want to sleep in the EU's bed?

http://en.wikipedia....wiki/Procrustes

[qqqbear]

As Mrs. Tom Brady noted - there were a lot of dropped passes....
Why would the Greeks succeed where the the US has failed?
==============================================================

"Yet ever since the restoration of their democracy in 1974, Greeks have accepted high levels of corruption, a bloated bureaucracy, and restricted markets. After joining the eurozone, Greece then lied to the European Union about its finances.

The government hid information about military spending and overestimated tax revenues. The EU’s subsidies to private Greek companies were counted as official revenue. And Greeks used the easy credit of the eurozone to go on a spending spree.

Many of these sins occurred under the rule of both the socialist Pasok party and conservative New Democracy.

A nonpartisan inquiry into Greece’s past misdeeds could help Greeks accept the need for shared sacrifice. (The previous government already came clean on the faked finances.) But finding a consensus about the past can be difficult in the middle of a crisis. In Greek politics, it can lead to a witch hunt.

In the United States, Congress set up the 10-member Financial Crisis Inquiry Commission in 2009 to probe the chain of causation for the market meltdown of 2007-09. The panel ended up being deeply divided, especially on issues such as government promotion of mortgages to risky borrowers. Its 662-page report had 126 pages of dissent.

Without a national agreement on what went wrong, Congress today can’t even agree on, for example, how to fix Fannie Mae or whether to aid people with underwater mortgages

http://www.csmonitor...eek-debt-crisis

[qqqbear]

that was quick- did you blink............
===========================

"Germany's Finance Minister Wolfgang Schaeuble on Thursday warned that the new round of spending cuts appears to not fulfill all the conditions for a €130 billion bailout, which Athens needs to secure to stave off bankruptcy.

As the largest economy in Europe, Germany is a leading force in the group of 17 countries that use the euro — the so-called eurozone — wielding its considerable economic clout to steer decision-making and policy.

"The agreement, as far as I understand, is not at a stage where it can be signed off," Schaeuble said as he arrived at a meeting with his eurozone counterparts. "It's a stance in the negotiations that was agreed on, but no one expects that this negotiation stance can get support."

http://www.usatoday....cuts/53021526/1

[HYPERTlGER]

130 billion dollar loan or new debt to sustain the old debt....or they default...

In a credit system there is no way to get out of debt.

It's impossible...

credit is debt with interest attached that is used as money...

If you were to pay off all the debt that exists...there would be no money...

Inflation greater than previous inflation to maximum potential transforms into inflation less than previous inflation to maximum potential once the maximum potential of inflation greater than previous inflation is reached.

The reports out of Greece show that they are collapsing...there is no way to stop it now...

Once Greece reaches the maximum potential of inflation less than previous inflation...Then they will begin inflating greater than previous inflation to maximum potential again.

Greece exported 26 billion Dollars worth of goods in 2011...and imported 65 billion Dollars worth of goods..

Basically the EU is pumping 130 Billion Dollars into the global trade system...But getting Greece to sign on the dotted line to agree to pay for it.

That is what is really going on.

[SuperCycleBear]

HYPERTlGER, on 09 February 2012 - 10:29 PM, said:

In a credit system there is no way to get out of debt.

It's impossible...

Yes there is, it is not impossible.

It is called default.