Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Interior Minister Says Greece Should Exit Eurozone

IMG Auteur
 
 
Published : February 28th, 2012
579 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

 

 

 

 

It is possible if not likely we have to suffer through at least 11 more Groundhog days as Greece sets March 8 deadline for investors in bond swap.

Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer.

Greece formally launched the bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its finances back on track.

In the document, Greece said the March 8 deadline could be extended if needed. Athens in the past has said it wants to conclude the transaction by March 12.


Interior Minister Says Greece Should Exit Eurozone

In yet another break in Merkel's ranks, German interior minister Hans-Peter Friedrich says
Greece should exit eurozone.

With German Chancellor Angela Merkel facing a parliamentary vote Monday on a second Greek bailout, her interior minister, Hans-Peter Friedrich came out over the weekend in favour of Greece leaving the eurozone.

Friedrich told the news magazine Der Spiegel, “I do not mean that Greece should be kicked out of” the 17-nation eurozone, but he said the bloc should “create incentives for an exit that they cannot turn down.”

Merkel is opposed to Greece leaving the eurozone, and agreed in January with French President Nicolas Sarkozy that Greece should be kept in the monetary union, as long as its government imposes strict budgetary reforms. She expects the Bundestag to approve the second bailout package in a vote Monday.

Friedrich, of the CSU, the Bavarian sister party to Merkel’s Christian Democrats, is the first member of the federal government to have spoken out suggesting a radical change of course in euro crisis policy.

“Outside European monetary union, Greece’s chances of regenerating itself and becoming competitive are definitely better than if it remained inside the eurozone,” Friedrich told Der Spiegel.

Meanwhile, at a meeting of G20 finance ministers and central bankers in Mexico City, German Finance Minister Wolfgang Schäuble said it made “no economic sense” to be “endlessly” pumping money into eurozone rescue funds.

It should have been obvious Germany wanted Greece out of the Eurozone no later than January 27 when Merkel demanded Greece to Cede Sovereignty to Eurozone "Budget Commissioner".



Merkel's Official Denial "I will have no part in forcing Greece out of the euro" Should have made it all the more clear on February 7.

At the same time Schäuble started "Salami Tactics" on German participation (see above link). On February 23, came the
Pact With the Devil Over Gold.

Then on February
23 Troika Demands 38 New Changes in Greek Tax, Spending and Wage Policies in Next 6 Days.

Finally, at long last, the German Interior Minister came flat out and stated what previously Finance Minister Wolfgang Schäuble only hinted at, and Merkel herself "officially denied". As I have said many times, Merkel's denial is not plausible. She just not does to be on record as the person causing any country to exit the Eurozone.

Merkel is to be pitied for one of two reasons.

1.    She is so amazingly dense that she cannot see that Greece needs to leave the Eurozone

2.    She is so concerned about her legacy that she does not have the honesty and decency to say what she knows is true, and she is willing to further destroy Greece in the process.


I vote for door number 2.

 

 

Companies Mentionned : Groundhog |
Data and Statistics for these countries : Greece | All
Gold and Silver Prices for these countries : Greece | All
<< Previous article
Rate :Average :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Financial Repression Authority w...
03 Marovertheedge
"The US is only about 50% of global market cap but most US investors have a 'hometown bias" of having 70% of their portfolio in US securities. Fabe...
Bondholders “Bailed In” In Austr...
03 Marovertheedge
"“Bail-in is now the rule” as Irish finance Minister Michael Noonan warned in June 2013. Noonan admitted that the move to not maintain deposits as ...
Bondholders “Bailed In” In Austr...
03 MarArgus
Shortly after the Cyprus test run, Canada's budget document made provision for bail-ins in the event of significant 'systemic risk' to the banking ...
Illinois Pension Plans 39% Funde...
02 Marovertheedge
And it gets even worse. The unfunded pension liability monies aren't invested and never will be. You can't pay pensions out of an unfunded ...
China is about to overthrow Lond...
28 Febneville
This a good slap in the face for the downright crooked bullion banks,traders that have been front running ie algorythm trading etc It had to ta...
A Salvo in the Battle for the Go...
27 Febovertheedge
I would argue that the devil is in the details, i.e. the definition of money. What the people of the US are using is currency. Currency bei...
A Salvo in the Battle for the Go...
26 FebFrankinca1
Sort of written for a PHD in economics, which gold believers (myself) are not often that well educated, have difficulty following. The definition o...
A Salvo in the Battle for the Go...
26 Feb07788525833
The dollar has a monopoly over all other types of money which is rammed down peoples throats by gun and drones , any one wanting to change this...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Sprott Resources(Ag-Au-Co)SCP.TO
Resource Corp. Announces 2014 Annual Results
CA$ 1.26-4.55%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces 2014 Results and Provides Update on Recent Activities
CA$ 0.43+0.00%Trend Power :
Corporate news
Major DrillingMDI.TO
Announces Third Quarter Results and Declares Dividend
CA$ 6.41+0.16%Trend Power :
Corporate news
UR-Energy(Ur)URE.TO
Releases 2014 Year End Results
CA$ 1.18+2.61%Trend Power :
Financials
Rockwell(Cu-Gems-Ni)RDI.TO
Announces Filing of Preliminary Short Form Prospectus
CA$ 0.26-1.89%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Proposed Reverse Takeover of Artha Resources
CA$ 0.04+0.00%Trend Power :
Corporate news
Goldcorp(Cu-Le-Zn)G.TO
declares third monthly dividend payment for 2015
CA$ 25.42-2.53%Trend Power :
Corporate news
Integra Gold(Gems-Ag-Au)ICG.V
Files PEA Technical Report on SEDAR
CA$ 0.30-6.35%Trend Power :
Corporate news
Fjordland Expl.(Ag-Au-Co)FEX.V
Geophysical Survey Outlines Strong Conductors on South Voisey's Bay Nickel Project
CA$ 0.02-16.67%Trend Power :
Corporate news
Clifton StarCFO.V
Announces Private Placements and Settlement of its Osisko Litigation Raising $11 million
CA$ 0.18+0.00%Trend Power :
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.