democratic innovation in greece

bronco2078

All the US based blogs are nonstop fiscal cliff lately it gets a bit boring but as offshore sites show we have some interesting activity in the birthplace of democracy

This guy is based in the UK so he tends to turn his eye towards other parts of the world and picks up on a few things that zeroghedge etc. miss.


lets waive all future immunity

Its pretty amazing if they manage to pull it off , I've never heard of a country's government passing a law prohibiting its future government from acting as it sees fit for purely monetary reasons

jmski52

Didn't Iceland do the opposite of what's happening in Greece, by declaring a default and telling the bankers to go pound sand? I vote for the Icelandic approach.

bronco2078

Whats happening in Greece is most likely a trial balloon for how the 1% crowd wants to handle larger countries defaults. They would always rather force austerity on the little people from outside rather than taking any losses on their investments. All they have to do is spread money around to individuals in government and get them to stick a knife in the backs of their countrymen.



Iceland acted in the interest of its own people and gave the outside influences the cold shoulder . They had a rough patch but seem to be coming out of it while the rest are just wallowing in misery with no end in sight.

OnlyGoldIsMoney

Greece can default on its debt. Creditors take a hit and Greece is cut off from future credit. This won't happen since Greece likes living off the money of others.

Greece can avoid default and adopt austerity inlcuding collecting the taxes on the books now. Won't happen since Greece likes living beyond its means using the money of others and tax evasion is a cultural trait.

What will continue is neither default or austerity but instead a continuation of playing the victim, blaming long dead Nazis and looking for ways to live off the money of others.

Senex

<< <i>Didn't Iceland do the opposite of what's happening in Greece, by declaring a default and telling the bankers to go pound sand? I vote for the Icelandic approach. >>

yellowkid

What do they say, "if you owe someone 50k, you have a problem, if you owe them 500k, they have a problem." I've never had much use for the banking industry, and a lot less in the last few years.

jmski52

It's no longer conspiracy theory about how the banking system has functioned, and what the impact is upon most people. It's now a well-recognized group of facts.