Alexis Tsipras' "open letter" to German citizens

[Tsing Tao]

The loan can be repaid in full or partly, IF Greece puts in an effort to save money and to restructure their ridiculously exuberant government apparatus. Of course one is not able to pay off ANY loan if one leaves the bank and buys drugs and smokes them all. What is not clear about THAT?

There is no way the Greeks can or will ever pay back a 245B Euro loan. The lenders knew this, but it wasn't a problem because they were trying to get the money to their financial institutions, not to Greece.

 

[volpunter]

another balanced view. You are on a roll mate

Schauble Gives Athens Another 10-Day Ultimatum, Says "Up To Greek Government If It Wants To Keep Euro"


Those who thought yesterday's trial balloon headline barrage would be bad, you ain't seen nothing yet. It all started with Spain's economy minister who knows if the Greek revolt gains traction his career will be cut short by a Podemos surge, said:

• THERE IS NO ULTIMATUM FOR GREECE

Which is ironic considering it was just back on February 6 when Eurogroup head DieselBoom explicitly gave Greece an ultimatum...

• GREECE MUST APPLY FOR BAILOUT EXTENSION ON FEB 16 AT THE LATEST

... an ultimatum Greece has soundly ignored. And therein lies the rub, because Europe is not used to being ignored, and certainly not used to having its non-ultimatum ultimatums snubbed.

Which is why moments ago the biggest gun of all, German FinMin Schauble came out, with the following:

• SCHAEUBLE SAYS GREECE MUST DECIDE WHETHER IT WANTS A PROGRAM

It already has: the answer is no.

• SCHAEUBLE SAYS GREEK SITUATION ISN'T GETTING BETTER

Wait, what? It was only a year ago when both the IMF's Christine Lagarde and then-Greek PM Samaras were praising the Grecovery. Were they lying, or was the "W" in Wreckovery silent.

And finally, the gloves has fully come off:

• SCHAUEBLE: UP TO GREEK GOVT TO DECIDE IF IT WANTS TO KEEP EURO

Because at the end of the day, this is the biggest leverage Europe has: as Greece continues to play hard to catch, Europe has finally made it clear that it never was about reform, or democratic process, or anything that idealistic socialists find near and dear. No: it was always and only about the artificial currency, without which trillions in legacy wealth will disappear into thin air, as will German's export miracle.

So just in case the first Ultimatum was not clear enough, here is the second and final one:

• SCHAEUBLE: GREEK PROGRAM EXTENSION BACKING NEEDED BY FEB. 27

And as everyone knows, if it isn't Germany's way, it is the Autobahn. Which reminds us: perhaps for Greece it is time for another call into the Eurasian Economic Union.

LINK

 

[Tsing Tao]

lol, that is where you are wrong. You a a tricky bastard, you mix up investors and shareholders up with the issue at hand.

Issue at hand: Greece's agreement with the EU and IMF and ECB: Greece is about to break the agreement. Factually the EU, IMF, and ECB have 0% fault in that. Not 1% even. Greece was offered money when they needed it the most, when their spreads exploded like there is no tomorrow. Greece could have refused it all, could have refused part of the offered loan. It could have worked to negotiate the terms differently. No, it signed the damn thing. Greece is at fault if it breaks the agreement and the other parties are at fault if they break theirs. This is fact and remains fact. Everyone had a free choice.

You are correct. As I've said multiple times now, the Greeks are the only ones at fault for breaking an agreement. However, the Troika is at fault for lending the money to a country that would/could never be able to repay. Different "crime", if you will, but guilty nonetheless.

I don't know how many times I can restate that if you still don't get it. Maybe a pop-up book with cartoons?

 

[volpunter]

yes most people look at the person first, that is why you have a credit history that is used in every loan application, moron!!!

No. Because I look to the argument, not the person making it whenever I can. You look to the person making the argument, and then dismiss it without considering the argument itself merely because you don't like the person.

 

[Tsing Tao]

another balanced view. You are on a roll mate

Thank you!

I'll try to keep 'em coming in the days to come.

 

[Tsing Tao]

yes most people look at the person first, that is why you have a credit history that is used in every loan application, moron!!!

So you're telling me a bank would look at whether someone's wife died and then you remarried a year later?

 

[volpunter]

oh I am right? few posts above you said both parties have equal fault.

...are you really this stupid or just suffer from dementia?

You are correct. As I've said multiple times now, the Greeks are the only ones at fault for breaking an agreement. However, the Troika is at fault for lending the money to a country that would/could never be able to repay. Different "crime", if you will, but guilty nonetheless.

I don't know how many times I can restate that if you still don't get it. Maybe a pop-up book with cartoons?

 

[volpunter]

No, they look at the person's integrity first before they consider the case at hand. You are telling me this is the 0.01% exception that found some sudden love a year after his wife of 27 years marriage diseased? Sorry but in most cultures or social circle this raises tons of eyebrows. Maybe you are living in a society where people eat, fuck, and shit as they please. By the way I never judged this dude, I raised questions as every normal person would reading this.

So you're telling me a bank would look at whether someone's wife died and then you remarried a year later?

 

[volpunter]

Oh really? You are saying they can spend 245 billion but cannot do anything to repay it, not even partly? Are you kidding me?

There is no way the Greeks can or will ever pay back a 245B Euro loan. The lenders knew this, but it wasn't a problem because they were trying to get the money to their financial institutions, not to Greece.

 

[volpunter]

Why is a bank at fault for offering more money to loan than the credit rating warrants? Please can you explain? Sure the bank must take into account that the risk of default increases. We are not talking about this, and never did. We talk about who is at fault that Greece is throwing in the towel and gives up instead of at least trying!!!

You are correct. As I've said multiple times now, the Greeks are the only ones at fault for breaking an agreement. However, the Troika is at fault for lending the money to a country that would/could never be able to repay. Different "crime", if you will, but guilty nonetheless.

I don't know how many times I can restate that if you still don't get it. Maybe a pop-up book with cartoons?