[it's a dance to the death. It's either his country or her banks- art by WilliamBanzai7]I know that everybody in Germany is making plenty of olive oil
stomping on Greece.
I got some news for them.We wouldn't be in this dance with death if it weren't for the
banks f^&*king around so much
and one of the worst is Deutschebank, the Douchebank
What a relief to learn that the EU has lost
the opportunity to get banks into line,
but , at least the bank shares have gone up.
that'll feed some poor kids.
So, now everybody knows that the ECB is yelling at Greece
because it's hiding the fact that the Northern banks
are up to their necks in debt, not just Greek debt.
If Greece collapses, the Euro collapses because the banks
will have to collapse.
[enjoy this video which describes how German banks are responsible for
at least Spain's problems, because we know they're responsible for Ireland's]
and one of the worst is Deutschebank, the Douchebank
What a relief to learn that the EU has lost
the opportunity to get banks into line,
but , at least the bank shares have gone up.
that'll feed some poor kids.
So, now everybody knows that the ECB is yelling at Greece
because it's hiding the fact that the Northern banks
are up to their necks in debt, not just Greek debt.
If Greece collapses, the Euro collapses because the banks
will have to collapse.
[enjoy this video which describes how German banks are responsible for
at least Spain's problems, because we know they're responsible for Ireland's]
-Costick67 ~(8^P
checkitout:
from REUTERS
Hopes of softer capital rules lift European banks
Fri May 27, 2011 8:09am EDT
BRUSSELS/PARIS (Reuters) - European bank shares rose Friday on hopes that new international capital rules for lenders would be applied with a lighter touch in the European Union as Germany and France demand more leeway. [that wouldn't be lobbying for the benefit of the rich, would it?- Costick67]
Berlin and Paris have pushed for more flexible treatment of some types of bank capital including controversial hybrid bonds in a debate over the rules that are designed to make banks more stable, an EU source said Friday.
Germany wants lighter treatment of some hybrids, bonds that combine characteristics of debt and equity, which have been used in the past to bolster banks' capital cushions. [oh, I see. Creative debt management- Costick67]
2 Deninger lays out the corruption CLEARLY
How To Fix Being Broke: Borrow More Money!
Amazing....
BERLIN—Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, according to people familiar with the matter.
Berlin's concession that it must lend Greece more money, even without burden-sharing by bondholders in the short term, would help Europe overcome its impasse over Greece's funding needs before the indebted country runs out of cash in mid-July.
What this really means is that Merkel has been apprised of the fact that her banks over there have written too many swaps and are too highly leveraged to survive a Greek default without yet another round of taxpayer funds from the Germans. She is therefore willing to risk political suicide (which is almost-certain) in order to avoid having to admit that the game-playing has continued post the original Greek crisis, and that in fact there has been no de-leveraging or cleanup of the German (and French, incidentally) balance sheets at all.
In fact, what I suspect is that these banks over in the Eurozone have been buying up these Greek bonds at a nice discount and then tendering them to the ECB on a Repo basis for cash at full par value. This of course is manifestly unsound but it's what happens when nobody can see inside the "magic box." The problem comes if Greece suddenly decides not to pay, at which point the Repo transaction becomes uncovered and the ECB is screwed. [HOWD'YA LIKE THEM CORRUPTIONS?- Costick67]
I'll lay even odds that Greece doesn't have until June 29th. [wrong-Costick67]
...
Oh yeah, I get it - we can't possibly let the truth out. You know, the ugly truth: Greece is insolvent and so are a significant number of banks that lent it money while being levered up 30:1.
Yes, still levered 30:1. You are over there in Europe, aren't you?
Why I bet you are.
from REUTERS
Hopes of softer capital rules lift European banks
Fri May 27, 2011 8:09am EDT
BRUSSELS/PARIS (Reuters) - European bank shares rose Friday on hopes that new international capital rules for lenders would be applied with a lighter touch in the European Union as Germany and France demand more leeway. [that wouldn't be lobbying for the benefit of the rich, would it?- Costick67]
Berlin and Paris have pushed for more flexible treatment of some types of bank capital including controversial hybrid bonds in a debate over the rules that are designed to make banks more stable, an EU source said Friday.
Germany wants lighter treatment of some hybrids, bonds that combine characteristics of debt and equity, which have been used in the past to bolster banks' capital cushions. [oh, I see. Creative debt management- Costick67]
2 Deninger lays out the corruption CLEARLY
How To Fix Being Broke: Borrow More Money!
Amazing....
BERLIN—Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, according to people familiar with the matter.
Berlin's concession that it must lend Greece more money, even without burden-sharing by bondholders in the short term, would help Europe overcome its impasse over Greece's funding needs before the indebted country runs out of cash in mid-July.
What this really means is that Merkel has been apprised of the fact that her banks over there have written too many swaps and are too highly leveraged to survive a Greek default without yet another round of taxpayer funds from the Germans. She is therefore willing to risk political suicide (which is almost-certain) in order to avoid having to admit that the game-playing has continued post the original Greek crisis, and that in fact there has been no de-leveraging or cleanup of the German (and French, incidentally) balance sheets at all.
In fact, what I suspect is that these banks over in the Eurozone have been buying up these Greek bonds at a nice discount and then tendering them to the ECB on a Repo basis for cash at full par value. This of course is manifestly unsound but it's what happens when nobody can see inside the "magic box." The problem comes if Greece suddenly decides not to pay, at which point the Repo transaction becomes uncovered and the ECB is screwed. [HOWD'YA LIKE THEM CORRUPTIONS?- Costick67]
I'll lay even odds that Greece doesn't have until June 29th. [wrong-Costick67]
...
Oh yeah, I get it - we can't possibly let the truth out. You know, the ugly truth: Greece is insolvent and so are a significant number of banks that lent it money while being levered up 30:1.
Yes, still levered 30:1. You are over there in Europe, aren't you?
Why I bet you are.
