‘Akropolis Adieu’: Fears Grow of Greece Leaving the Euro
- Posted on May 13, 2012 at 9:31pm by
Erica Ritz
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(Photo: AP)
What was once an “avoid at all costs” scenario is quickly becoming an real possibility, as Eurozone central bankers are starting to openly discuss the idea of “managing an exit” of Greece from the Euro.
The Financial Times explains:
Eurozone central bankers have talked publicly for the first time of managing a possible Greek exit from Europe’s monetary union as stalemate in Athens talks on a coalition government raises the prospect that Greece will renege on the terms of its international bailout.
The comments by members of the European Central Bank’s governing council indicate that the risk of eurozone fragmentation is being taken increasingly seriously by the region’s policymakers.
They mark a significant shift at the ECB, which has previously argued that European treaties do not allow for an exit and that a break-up would cause incalculable economic damage.
Bloomberg is similarly reporting:
European Union Economic and Monetary Commissioner Olli Rehn said in Tallinn that the region is “certainly more resilient” to a possible Greek exit than it was two years ago, when the bloc would have been “massively underprepared.”
“I still believe that Greece can stay in the euro and find the way to make sure that it respects its commitments,” Rehn said. “It would be much worse for Greece and Greek citizens, especially for the less well-off Greek citizens, if Greece did leave the euro than for Europe as such. Europe also would suffer, but Greece would suffer more.”
Under a story headlined “Akropolis Adieu, Why Greece Must Leave the Euro”, Germany’s Der Spiegel magazine today reported that the EU may provide funding for Greece even after a euro departure.
The news follows reports of increasing instability in the Greek government, as many wonder whether Europe would be able to contain the negative effects of the split, and how average Greeks would fare on their own.
“I would be very careful in speculating that it would be a painless process without complications,” the head of Sweden’s central bank remarked.
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Comments (51)
Robert Hawk
Posted on May 14, 2012 at 5:23amThe EU is part of the plan to establish global Marxism (Karl Poppers global “Open Sociiety”… The Perfect world). What you are observing in the Middle East and the USA are the final plans of the soviets bringing this global order to full fruition. However, since our Fathers word discusses only one global order which is brought about by the Fake Jesus (satan), then this global order of the soviets, will not be allowed to stand.
The EU will exist as they are needed to make Daniel 8 come to pass. Russia will take over the Middle East oil business with their partner Iraq (Media) and Iran (Persia). Media and Persia will arise to great wealth, just as it is written in Daniel 8.
Report Post »However, there is a power from the West (not Obama) who opposes Russia and its allies (Iran and Iraq), a power over whom the Russians (Esau) have no control (they completely control Mr Obama). Therefore Mr Obama is not figured into the picture in prophecy. Which means he will be soundly defeated by someone not being observed by the two political machines as a viable alternative. This chain reaction will set off in the USA and effect the EU, especially the brother country to the USA, Briton. Expect the brother nations to become closer Briton (Ephraim) and the USA (Manasseh), who will support their other brother nation the state of Israel (Judah). Greece only represents the financial failure which is written in the 3rd seal of Revelation. Eventually their house of financial cards collapses.
Jaycen
Posted on May 14, 2012 at 1:44pmIt’s been hilarious to me to read all the articles written about how terrible and impossible it would be for countries like Germany to exit the EU. Well, sure, Germany is propping the EU up.
Now that we’re talking about a dump like Greece getting out, that’s actually pretty easy and a good thing. Huh. I’m shocked I tell you, just shocked.
They’ll kick Greece out so the central banks can claim “look what we did, we save the Euro from destruction with our brilliant move!”
Good luck with that, my Socialist European friends.
Report Post »hugo65hsv
Posted on May 14, 2012 at 5:11amLooking at Europe it’s not hard to understand why we have a United States today.. Woe to the attitude that we should be more like Europe..
Report Post »NOBALONEY
Posted on May 14, 2012 at 3:49amIf Greece exits, Spain, and Ireland may follow. Euro value falls. Eurozone under pressure, approves Turkey’s membership.
Report Post »Shadow_knight
Posted on May 14, 2012 at 6:18amIf Spain does, that would be something to worry about, I agree with that regarding global investments in your retirement plan. If Greece drops out, the EU won’t be carrying around “dead weight”. That would cause the value of the Euro to increase over a time period. Conversely, it would cause the value of the U.S. dollar to drop. What is the value of our dollar in comparison to what it was in 2000? With the rate of inflation and the quantitative easing? From .60 to .80 cents.
Report Post »Puddle Duck
Posted on May 14, 2012 at 1:39amWith Greece on the rocks how far behind are the exits from EU the other basket case nations, Italy, Portugal, Holland,Spain, Ireland and France ?
Germany, if it was smart, would say to hell with the rest of you idiots we are outa here.
Report Post »Dougral Supports Israel
Posted on May 14, 2012 at 12:48amSo, what is the benefit to Greece to exit the Eurozone? Who will bail them out then? They can print money and quickly become the Wiemar Republic and perhaps beyond. Frightening!
Report Post »DEFCON4
Posted on May 14, 2012 at 1:05am@ DOUG perhaps Israel, ?
Report Post »lukerw
Posted on May 14, 2012 at 1:14amMaybe… they will have to go back to… Shipping… and Drug Smuggling!
Report Post »Robert Hawk
Posted on May 14, 2012 at 5:37amNo, Greece will be adrift in a sea of Red ink and wind up having to fend for themselves. Their house of social cards will fall apart financially and everyone will observe that socialism does not work. Once the whining stops, Greece will pick itself back up and start all over again. The lush pensions and all other such nonsense however will end immediately. Grecians will live in poverty for quite some time. This is the beginning of the 3rd seal of the book or Revelation which speaks of financial disaster on a vast scale. Imagine a loaf of bread costing a working mans days wage …. this is where Greece and the remainder of us are headed. The USA will feel the pinch as well, we won’t escape the financial disaster which has already been set in motion by the global Marxists. Satan uses this leverage against us when he appears as the Anti Christ, he comes in as it is written in Daniel, Peacefully and Prosperously, and promises all those who worship him financial solvency. How many will fall for this trick?
Report Post »Remember FIAT currency is simply paper, it has no value. Keep some silver, if only a small amount. Currently its around 30 us per/oz however when you multiply that times 30 it becomes very valuable in the future. Gold will ramp up the same, imagine 1600 times 30 and you can figure the price of future Gold.
HowardSternIsABigot
Posted on May 14, 2012 at 8:29amThey are facing armageddon if they stay in the euro. They will be in the same boat if they leave, BUT, they wont have to pay the monster bankers their huge eternal interest charges. Also they can regain control of the govt and not bow to satans minions from the banks.
Report Post »rickc34
Posted on May 14, 2012 at 12:40amThis is only the begining. Part 2 will start soon.
Report Post »DEFCON4
Posted on May 14, 2012 at 12:57amRick How soon ?
Report Post »Netsurfer2
Posted on May 14, 2012 at 12:34amThe only problem here now is, that America invested money into the European system, hence China invested in USA and now the domino effect is going to come if Italy, Ireland and France default. France already said it would not continue austerity measure, go figure!
Like I have been saying: Get out of debt America, save your food, ammo and hope for the best! We are going to have hard times coming very soon. After all Wall Street was never reprimanded nor ever took actions to fix what problems happened. Rising costs, low wages, businesses going out of business and soon government programs will be cut even more! Your debts will catch up to you and then you will wonder why, by that time it’s to late!
Report Post »VoteRightDammit
Posted on May 14, 2012 at 12:11amDon’t be afraid.
It’s guaranteed Greece will exit (and others) ….
and fearing what will certainly happen is senseless. Just plan for the inevitable.
Report Post »ozz
Posted on May 14, 2012 at 12:10amDown with the EU!!!
Report Post »Up with liberty for our European brethren.
So much for the tyranny of globalism, WOOT!! :D
Snowleopard {gallery of cat folks}
Posted on May 13, 2012 at 11:18pmSay adieu to the EU. End gameis fully underway. Watch for the next move of Soros.
Report Post »db321
Posted on May 14, 2012 at 12:00amOpps guess who is going to get screwed here – the people on the Government tit! Can’t use money to by food if the money is no good!
Don’t worry Sorros will most defiantly profit Billions off of this and Millions will die!
Report Post »Detroit paperboy
Posted on May 14, 2012 at 12:04amIf everyone in Greece commits suicide, all their problems would be solved, and it would cut down on global warming………
Report Post »soybomb315
Posted on May 13, 2012 at 10:59pmI got a line for the Greeks…
“We didnt land in the EU…The EU landed on us”
Report Post »capitalismrocks
Posted on May 13, 2012 at 10:48pmThe Euro was and always has been a horrid and stupid mistake for Europe, England always saw it and never participated…
To tie all those countries together like that and then to have one drag down all of the others, stupidity on a mega-scale, but this is Europe we are talking about after all… the Old World, Old Idea’s and the heart and soul of Socialism…. you’d have thought, with having a Communist super-power breathing down Europe’s back for 50 years, that Europe would’ve moved as far away from Socialism (aka mini-communism) as possible… but again, it is Europe… stuck in the past as always.
Report Post »Apple Bite
Posted on May 13, 2012 at 11:08pmThe biggest problem with the EU is that they allowed Socialists to lead the way. Nobody elected them, nobody knows who they are. The citizens only know what kind of problems they’ve caused since being given the seats they hold. That’s why Greece is now ran by a neo-nazi thinking Neanderthal.
Report Post »Detroit paperboy
Posted on May 13, 2012 at 11:59pm@ capitalismrocks
Report Post »Well put !!!
The Goo
Posted on May 13, 2012 at 10:44pmThey are their own problem. Should they not be their own solution? Why should anybody else pay for their mistakes?
Report Post »RANGER1965
Posted on May 13, 2012 at 10:22pmIn the end it comes down to force.
Accountability is nothing but a pretty word unless there is some force, or lever that can be used if a person, group, or nation refuses to meet their obligations. And then this force or punishment has to be worse than failure to meet the obligations.
If it’s not, then eventually it wil bring on a “put up or shut up moment.” This is what you see here.
The greek people found out they could vote themselves a raise. Which they did. And it worked for a time, during the economic boom in Europe. Now times are hard and it’s not working anymore. So the Greek people are punishing or voting out any politician that dares to tell them that they need to tighten their belts.
So Europe is gonna pull away from Greece. Greece is gonna go backrupt and adopt a new currency…and they will slide into 3rd world status for a while, under a hard-line communist regime.
RANGER
Report Post »lukerw
Posted on May 13, 2012 at 10:42pmThe Nazis began by Euthanizing one child… which led to 300,000 more… so, why not a Country?
Report Post »soybomb315
Posted on May 13, 2012 at 10:55pmwe need a president who will say “hell no” when europe comes to us with their hands out.
Can we count on Mitt Romney?
Report Post »lukerw
Posted on May 14, 2012 at 1:04am@SOY…
Report Post »Better to ask: What will the Federal Reserve & IMF do?
Legal Immigrant
Posted on May 13, 2012 at 10:22pmFunny. First glance at the picture and I thought I ws looking at Canadian money. Everyone going to the same designer of their currencies?
Report Post »The Eradicator
Posted on May 13, 2012 at 10:20pmNew game: “Country Dominoes”
Report Post »RLTW
Posted on May 13, 2012 at 10:20pmI’ve spent time in Greece; my axe wife is half Greek with many Greek relatives in country, from speaking with her uncle who was a General in the Greek army assigned to NATO along with other family friends and wealthy Germans on the vacation islands I walked away with one word that described Greece “Corruption” .
Report Post »DoomsdayProphet
Posted on May 13, 2012 at 10:15pman before vowels a before consonants. It is not difficult. I am terrible at English.
Report Post »soybomb315
Posted on May 13, 2012 at 10:03pmIt was folly for the EU countries to think they could unite financially and still keep their sovereignty. You cannot have an independent government without independent economy. Eventually, this thing will end with all the countries seceeding or one country dominating them all…
Report Post »Psychosis
Posted on May 13, 2012 at 10:14pmthats the point
they want all the countries to lose their sovereignty………………including ours
Report Post »Git-R-Done
Posted on May 13, 2012 at 10:01pmWhat’s wrong with Greece leaving the Euro? It‘s none of the other countries’ business.
Report Post »RJJinGadsden
Posted on May 13, 2012 at 10:17pmAs I understood it from the beginning of this money merger it was once in, never out. It all had to bound together with treaties.
Report Post »RLTW
Posted on May 13, 2012 at 11:40pmI’m with you, but it will create a chain reaction causing the EU to fall apart, rumor last year was Germany was already printing Duech marks the effect on the world only time will tell.
Report Post »Baddoggy
Posted on May 13, 2012 at 9:58pmA days wages for a loaf of bread…Oh wait, those lazy greeceballs dont work…Good riddance!
Report Post »lukerw
Posted on May 13, 2012 at 10:33pmThe problem with the Goal of Socialism is: Everyone has Everything, so no one Works, and they all Starve. That is why: Utopia gave Socialism as an Elite System supported by SLAVES!
Report Post »mamaenfuego
Posted on May 13, 2012 at 9:58pmMaybe we should elect Dwight Schrute and go with using Schrute Bucks.
Report Post »dsind
Posted on May 13, 2012 at 9:52pmglenn has been warning us for several years.
Report Post »i think they need their own system, as with any sovreign country,
or bankrupt.
moussiagilda
Posted on May 13, 2012 at 9:43pmAre you trying to spread fear? Why?
Report Post »lukerw
Posted on May 13, 2012 at 9:38pmATHENA Goddess… of Wisdom & War… seems to have gone for the Later!
Report Post »