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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (74060)	5/9/2011 3:39:59 AM
From: Maurice Winn	1 Recommendation Read Replies (3) \| Respond to of 217885

Are they mad? < it is questionable whether other members of the currency union would actually refuse to accept* a unilateral exit from the euro zone by the government in Athens.* > If Greek wishes to secede, it's their country to do so. Same as Taiwan deciding to go their own way. Or Tibet. Or Tuhoe; a Maori tribe in part of NZ, who never signed the Treaty of Waitangi which probably leaves a questionable common law legacy which is unresolved though no doubt high powered lawyers could consume lots of public money debating the issue. Things are getting interesting. Mqurice

To: TobagoJack who wrote (74060)	5/9/2011 4:32:54 AM
From: Riskmgmt	1 Recommendation Read Replies (1) \| Respond to of 217885

Truth is ever adjusting to spin......for every article that says this; one can be found that says that! Perhaps confusion is really the goal here. Staying flexible and in tune with the force is the best survival plan. yanisvaroufakis.eu The Spiegel story that “Athens is considering withdrawing from the euro zone” is not exactly false – just economical with the truth. Yes, a few weeks or months ago, the Greek government commissioned (as it ought to) several secret studies of the repercussions of various scenaria involving different forms of debt restructure, including one desperate scenario hypothesising an improbable exit from the eurozone. The real question is why Der Spiegel chose to isolate this one scenario and focus on it even though Spiegel’s journalists know full well that Greece will never propose an actual exit from the euro? It is my considered opinion that Der Spiegel, in consultation with certain circles within the German government (in particular the Finance Ministry) was trying to send a message to the German Chancellor but also the Greek Prime Minister. And what is this message? That there are far worse things than a debt restructure, the worst being a step-by-step dismantling of the euro that will begin once a country like Greece is forced into an impossible situation. And that continuing to live in denial, and to peddle blatant lies about the sustainability of the present course will no longer be tolerated. The article and the inevitable denial Let us begin with the quote of the day from the internet version of Der Spiegel: Greece’s economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou’s government is considering abandoning the euro and reintroducing its own currency. Alarmed by the attempt, the European Commission has called together a crisis meeting in Luxembourg on Friday night. In addition to Greece’s possible exit from the currency union, a speedy restructuring of the country’s debt also features on the agenda. That the Greek government is considering an heroic exit from the eurozone is false. While it is one of the many scenaria that it studied at some point, it was never a scenario that it contemplated. Alas, the Greek government can deny this (after Der Spiegel’s article saw the light of day) till the cows come home but no one will believe it. It is the price one pays for not having heeded the message of the child’s tale involving a boy, a number of fake cries and a wolf. Worse still, by blaming, quite implausibly, Der Spiegel for buttering the speculators’ bread, the Greek government is sacrificing cheaply the last morsels of credibility it has. Sad, very sad. For everyone knows that Der Spiegel is a veritable publication that would not lend itself to the games speculators play. It has much bigger fish to fry. Indeed, Der Spiegel is part of Germany’s institutional network of authority and political power. So, why would such an institution be economical with the truth in this manner and at this point in time?