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Adding a bit more fuel - following Finland getting collateral from Greece for its share of the...

Adding a bit more fuel - following Finland getting collateral from Greece for its share of the rescue package, other EU nations are requesting the same. Reuters quotes a government source as saying such chatter threatens the entirety of the 2nd bailout.
Comments (15)
  • Lint
    , contributor
    Comments (391) | Send Message
     
    ut-oh....
    18 Aug 2011, 11:03 AM Reply Like
  • Leftfield
    , contributor
    Comments (3751) | Send Message
     
    Wall Street knew what had happened in 2008 and was quick to grab taxpayer $trillions for themselves, which included plenty for bribes and "contributions" to buy immunity from prosecution.

     

    It's late in the game, but the rage now is sovereign "collateral," so the rape of taxpayers everywhere can continue. I'm just surprised Finland has enough sense to demand this, along with the banksters who have done so much to bankrupt almost the entire Western economy..
    18 Aug 2011, 11:11 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I would require it to after all the Greek lies...gold and silver would be good...delivered of course
    18 Aug 2011, 11:16 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    No. They are pledging olives and feta cheese.:-)
    18 Aug 2011, 11:41 AM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    They should release the Kraken and run like hell.
    18 Aug 2011, 11:44 AM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    Just check the olives (which would come in the form of oil) before you accept delivery. I've heard of people using canola oil and green food coloring, then calling it EVOO.
    18 Aug 2011, 01:07 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    I'm coming to agree with those who say this doesn't end until bankers take a haircut on bad sovereign debt. You declare bankruptcy and you move on. This has the look of going back to the loan shark...
    18 Aug 2011, 11:27 AM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    The banks can't take a haircut that large..no one can.
    18 Aug 2011, 11:43 AM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    Yes they can. They did it with Latin America. They have done it many times before. Sovereign debtors need to be treated like other debtors. They have to be allowed to go bankrupt, and banks then need to be free to freeze them out until they shape up.

     

    It worked in Latin America.
    18 Aug 2011, 01:06 PM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    Admittedly, I don't know anything about the Latin American bank issue. Are they on the same scale?
    18 Aug 2011, 01:21 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    Yep. Argentina is bigger than Greece. Countries have gone broke throughout history, and their citizens had to pay a price for that. But citizens of other countries shouldn't pay the price, although their banks might be hurt.
    18 Aug 2011, 01:45 PM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    well sure..But Argentina wasn't part of a consolidated currency like Greece is..or Spain..or Ireland..or Itay.. Combined they are WAAAAY bigger than Argentina. A different beast, I think.
    18 Aug 2011, 01:52 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    Most of Europe doesn't need bankruptcy. Whoever does need it, however, should get it. And bankruptcy doesn't mean creditors lose all -- it can mean they lose a portion.
    18 Aug 2011, 04:54 PM Reply Like
  • Rhianni32
    , contributor
    Comments (1995) | Send Message
     
    Wait.... the Greeks were given money... to be given back... for collateral on the money given them?
    18 Aug 2011, 11:32 AM Reply Like
  • WMARKW
    , contributor
    Comments (10234) | Send Message
     
    Vultures are circling the carcass !
    18 Aug 2011, 11:51 AM Reply Like
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