Socio-Economics History Blog

Socio-Economics & History Commentary

EURO HUMILIATION: Germany ‘Freaked Out’ as Greece ‘Could Ditch EU Currency for US DOLLAR’

Euro-on-fire

  • EURO HUMILIATION: Germany ‘Freaked Out’ as Greece ‘Could Ditch EU Currency for US DOLLAR’
    by NICK GUTTERIDGE IN BRUSSELS
    GREECE could be poised to humiliate Brussels by ditching the euro and instead choosing to be tied to the US dollar, Donald Trump’s reported pick as EU ambassador has sensationally claimed.


    Professor Ted Malloch revealed that senior Greek economists have enquired about the possibility of adopting the greenback if the country crashes out of the single currency. He asserted that Athens is so desperate it is prepared to tie itself to the dollar on the same terms as the likes of Puerto Rico if it means being able to quit the eurozone.

    And Prof Malloch said German leaders including Angela Merkel were “freaked out” at the humiliating possibility of losing Greece to a rival currency, which would be a devastating blow to the EU project. Tying Greece temporarily to the US dollar would be one way for the authorities in Athens to ensure that its currency does not completely tank if it leaves the eurozone, as would likely occur with a reissued drachma.

    read more.

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February 14, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

EUROZONE CRUMBLES: Germany Orders Greece to LEAVE Euro If It Wants Debts Cut

http://www.express.co.uk/finance/city/765198/Germany-Greece-debts-cut-LEAVE-euro-Grexit-Wolfgang-Schaeuble

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February 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Trump’s EU Ambassador Says Greece Likely To “Sever Ties With Germany & Exit The Euro”

https://www.theguardian.com/world/2017/feb/08/trump-envoy-declares-odds-on-greece-will-break-from-euro?utm_source=dlvr.it&utm_medium=twitter

Click on image for article.

  • Trump’s EU Ambassador Says Greece Likely To “Sever Ties With Germany & Exit The Euro”
    by Tyler Durden, http://www.zerohedge.com
    Amid a more prolonged economic doldrums than The Great Depression, Greece is heading towards its 4th bailout/deal with creditors. Adding to Grexit fears (voiced by many in and out of Greece), Ted Malloch, President Trump’s proposed US ambassador to the EU, casts doubt on survival of eurozone and says Athens should return to drachma.

    As we noted previously,
    for the umpteenth time, the IMF has warned that Greece cannot meet fiscal targets set by its creditors. And once again, the IMF insists that it will not be a part of the “Troika” unless the goals on Greece are realistic. History suggests the IMF will cave in to Germany and agree to some half-baked plan (make that 1/8th baked plan) that will supposedly put Greece back on track. Such nonsense has been going on for years. Mercy, Please!


    [It’s worse than the Great Depression…]

    read more.

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February 10, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

‘Euro is at Its End!’ Anti-Merkel Party Attack Failing Currency Which ‘CANNOT’ Be Saved

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  • ‘Euro is at Its End!’ Anti-Merkel Party Attack Failing Currency Which ‘CANNOT’ Be Saved
    by AJAY NAIR, http://www.express.co.uk/
    A LEADING member of Alternative for Germany (AfD) has warned of an impending “crisis” within the EU because of the crumbling euro.

    Beatrix von Storch, an MEP and influential member of the far-right group, invited speakers to discuss the future of the and potential alternatives to the present European monetary system in Berlin on Thursday. She said the currency, which was introduced in in January 2002, was destined for failure and said it “cannot be saved”.

    The AfD has enjoyed a rise in support in recent months while Germany was hit by multiple terrorist attacks.

    Ms von Stroch said: ”Because of the euro, in the way it is at present, [it] does not work, because it failed, because it cannot be saved. “More and more measures are being taken which, in the end, will not lead to saving the euro in its present form. In my opinion, it is at its end.”

    The MEP said the EU was “facing a crisis, the magnitude of which we are not aware of”. She then warned of an incoming disaster for the eurozone if Italy was to leave the single currency. ”I believe that the topic of the euro ended up in oblivion [but] we will be falling on our toes heavily and abruptly when we realise that Italy is not at all comparable with Greece and that we twisted ourselves with Greece but that that was nothing in comparison with Italy,” she said.

    She blasted the EU and its “federal influence” while speaking about her hopes for a future currency.

    read more.
http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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http://www.express.co.uk/news/world/718199/EU-superstate-plot-intensifies-Brussels-plans-prosecutor

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http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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January 28, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Rare Snowfall in Athens Sends Vibes of Excitement Through Social Media (PHOTOS, VIDEO). Global Warming is a HOAX!

https://www.rt.com/news/372135-greece-athens-rare-snow/

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http://www.express.co.uk/news/world/745567/Snow-Sahara-Desert-first-time-37-years-Algeria

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http://www.express.co.uk/news/weather/742699/Snow-UK-weather-forecast-coldest-winter

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http://www.mcall.com/news/weather/mc-weather-lehigh-valley-snow-in-spring-20160408-story.html

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http://www.nbcnews.com/news/weather/april-snow-dusting-ohio-northeast-winter-clings-n553391

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http://www.independent.co.uk/environment/snowfalls-are-now-just-a-thing-of-the-past-724017.html

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December 30, 2016 Posted by | Social Trends | , , , , , , | Comments Off on Rare Snowfall in Athens Sends Vibes of Excitement Through Social Media (PHOTOS, VIDEO). Global Warming is a HOAX!

German Ultimatum to Greece: Reform Or Leave Eurozone

Greece_Collapse

  • German Ultimatum to Greece: Reform Or Leave Eurozone  
    by https://www.rt.com/  
    German Finance Minister Wolfgang Schaeuble told Greece to carry out unpopular reforms if it wants to stay in the Eurozone, ruling out debt relief for Athens. The warning may signal yet another emergency in the continent already beset by multiple crises.

    As Eurozone finance ministers prepare to meet in Brussels on Monday to discuss short-term debt relief for Greece, Schaeuble delivered an ultimatum to Athens: the country, which already has a staggering €330 billion ($349 billion) debt burden, must reform or face an exit from the EU.

    “Athens must finally implement the needed reforms,”
    Schaeuble told Bild am Sonntag on Sunday. “If Greece wants to stay in the euro, there is no way around it – in fact completely regardless of the debt level.” 


    To secure new loans from European financial institutions, Greece has to ‘liberalize’ the labor market, particularly by allowing companies to fire employees more easily and with less legal obstacles. Among other unpopular measures is Brussels’ proposal to curb certain rights of Greek labor unions.

    Schaeuble added that Athens must not rely on any assistance from international creditors at the moment, saying, “It will not help Greece.”

    The German government has promised not to request their parliament for more money for Greece unless the International Monetary Fund (IMF) resumes lending to Athens.

    The IMF in turn says that new loans are not an option unless it is reassured that Greece’s debt burden is sustainable. The Greek government, currently led by left-wing party Syriza, has long argued that the country’s overwhelming debt load is the main obstacle to sustainable growth.

    Governor of the Bank of Greece Yannis Stournaras said new measures were needed to ease Athens’ debt burden. “We’ve made clear that there is no chance we’ll accept what the IMF demands on [austerity] measures and labor reforms,” Tzanakopoulos said, as quoted by Reuters.

    read more.

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December 6, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Comments Off on German Ultimatum to Greece: Reform Or Leave Eurozone

Germany’s Finance Minister Blames ECB For German Trade Surplus; Why the Eurozone Will Destruct

Eurozone_Collapse

  • Germany’s Finance Minister Blames ECB For German Trade Surplus; Why the Eurozone Will Destruct
    by https://mishtalk.com/  
    Fireworks are going off in Germany again in yet another battle between Wolfgang Schaeuble, Germany’s finance minister, and the ECB. Schaueble dismissed a suggestion this week by ECB head Mario Draghi that Germany should use fiscal room for manoeuvre to decrease its export surplus.

    Reuters reports Germany’s Schaeuble blames ECB for German Export Surplus.

    Why the Eurozone Will Destruct
    Germany will pay one way or another for the massive imbalances between the creditor and debtor Eurozone countries. Eventually Spain, Greece, or Italy will realize it is impossible for them to pay back what is owed.


    Once that realization sets in, some country will default on their euro-denominated liabilities. Beppe Grillo’s Five Star Movement in Italy is on board with that idea already. There are only three possible paths at this point.

    Three Alternative Paths
    1. Germany and the creditor nations forgive enough debt for Europe to grow

    2. Permanently high unemployment and slow growth in Spain, Greece, Italy, with stagnation elsewhere in Europe
    3. Breakup of the eurozone

    Germany will not allow #1. It is unreasonable to expect #2 to last forever. The only door left open is door #3.

    The best move would be for Germany to leave the eurozone. Germany is in the best shape to suffer the consequences. Unfortunately, the most likely outcome is still a destructive breakup of the eurozone, starting in Italy or Greece.

    read more.

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September 12, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , | Comments Off on Germany’s Finance Minister Blames ECB For German Trade Surplus; Why the Eurozone Will Destruct

EU Crisis Looms as Greece, Spain And Portugal Pose TRIPLE THREAT for Crumbling Eurozone

http://www.express.co.uk/finance/city/708974/EU-crisis-looms-as-Greece-Spain-and-Portugal-pose-TRIPLE-THREAT-for-crumbling-eurozone

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September 10, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , | Comments Off on EU Crisis Looms as Greece, Spain And Portugal Pose TRIPLE THREAT for Crumbling Eurozone

EUROZONE IN CRISIS: Shock New Claims Greece RIGGED Debt Figures Ahead of Huge Bailout

Greek-economy-collapse-European_Union_restoration_cartoon

  • EUROZONE IN CRISIS: Shock New Claims Greece RIGGED Debt Figures Ahead of Huge Bailout
    by LANA CLEMENTS, http://www.express.co.uk/  
    GREECE’s bailout programme is under threat amid accusations its former statistics chief rigged the country’s official economic data during its debt crisis.

    Athens is now under pressure from the European Union to deny claims from politicians Andreas Georgiou helped foreign creditors by manipulating public economy figures. Brussels said the row could affect Greece’s rescue programme, which saved the country from bankruptcy last summer. In response the Greek government said it was “surprised” euro officials were urging the state to wade into the official investigation.

    The new comes after the Supreme Court reopened an investigation into Mr Georgiou who was head of ELSTAT for five years until 2015, following reports he exaggerated debts.

    Marianne Thyssen, who oversees the European Commission’s data agency Eurostat, said she would not interfere with national courts. Yet added that the Greek government must “actively and publicly challenge the false impression that data were manipulated during 2010-2015 period and to protect ELSTAT and its staff from such unfounded claims”.

    Failure to do so would damage the already fragile credibility of the Greek state with international creditors, according to Ms Thyssen. The social affairs commissioner said: “It is necessary to get the record straight and avoid misinterpretation because this could be very dangerous.”

    Before 2010 angry eurozone partners said Greece concealed the depth of its public deficit.

    read more.

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August 26, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on EUROZONE IN CRISIS: Shock New Claims Greece RIGGED Debt Figures Ahead of Huge Bailout

Top Economist Predicts Eurozone ‘Failure’ Unless Greece AND Germany Quit

http://www.express.co.uk/news/world/702101/Joseph-Stiglitz-predicts-euro-doom-Greece-Germany

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http://www.express.co.uk/news/world/702032/EURO-HAS-FAILED-Mistrust-and-money-wars-sparks-claims-Juncker-s-EU-is-finished

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http://www.express.co.uk/news/politics/701470/Brexit-Merkel-Hollande-Renzi-EU-collapse-Ventotene-Altiero-Spinelli-European-superstate

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August 22, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on Top Economist Predicts Eurozone ‘Failure’ Unless Greece AND Germany Quit

Greece Demands €270bn in WW2 Reparations from Germany

  • This is a good move by the Greek government.
  • Published on Aug 18, 2016
    Greece is demanding billions of euros in reparation payments from Germany for atrocities committed by the Nazis during the Second World War. Athens is threatening to take legal action to make the Germans pay.

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August 19, 2016 Posted by | GeoPolitics | , , , , , , | Comments Off on Greece Demands €270bn in WW2 Reparations from Germany

Germany’s Secret Night Refugee Flights: Is Merkel Lying Again?

http://www.express.co.uk/news/world/694786/Merkelmussweg-protest-Berlin-Angela-Merkel-refugee-policy-immigration-Germany

Merkel MUST go! Germans plan ‘huge’ demonstration over leader’s open door asylum policy. Click on image for article.

  • According to Jim Willie: America is shipping in Muslim refugees secretly by the plane load into USA.
  • Germany’s Secret Night Refugee Flights: Is Merkel Lying Again?
    by , http://www.thenewamerican.com/  
    Is German Chancellor Angela Merkel’s government surreptitiously flying massive numbers of Muslim “refugees” into German airports and military airbases on secret night flights? That is the charge in a sensational story by German writer Markus Mahler last week in the German publication Kopp Verlag. Spokesmen for the German government are denying the stories, stating that they are completely false. However, Chancellor Merkel’s credibility on this issue is almost nonexistent, as she has been caught repeatedly in lies, coverups, and deception on migration and refugee matters.

    “Officially,” writes Mahler, “the refugee crisis in Germany is slowing down: less and less of them are walking on the Balkan route; one sees hardly any special trains or buses. No wonder: Apparently they travel by plane. Neither seen nor known about, one charter flight after another is landing at German airports.”

    “They board the chartered planes in Turkey and in Greece,” Mahler reports. “They land in Germany late at night. They are then distributed by the Federal Office for Migration and Refugees (BAMF) by buses to the reception centers. It was reported by several Kopp Online tipsters, who observed the buzz at German airports. So far, German media aren’t reporting it.”

    read more.
http://www.dailymail.co.uk/news/article-3684302/1-200-German-women-sexually-assaulted-New-Year-s-Eve-Cologne-elsewhere.html

Why did the German Govt allowed in all these criminal thugs, rapefugees, undesirables … without any screening? It is a deliberate plan to destabilize Europe. Click on image for article.

http://nypost.com/2016/01/10/germans-slam-rapefugees-in-wake-of-mass-sexual-attack/

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August 18, 2016 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , | Comments Off on Germany’s Secret Night Refugee Flights: Is Merkel Lying Again?

Ellen Brown: Cascade of Financial Derivative Defaults Would Bring Everything Down

  • Published on Aug 16, 2016
    Countries are up to their necks in debt that cannot not be paid. The derivatives propping the debt up are hundreds of trillions of dollars. Public banking expert Ellen Brown contends, “The concern is this $500 trillion of derivatives just on sovereign debt. There is $100 trillion in sovereign debt globally, which is a huge bill, and then you have all these derivatives betting against it with credit default swaps that would pay off in the event of a default. So, they can’t let any of these governments go bankrupt. They can’t write down the debt, and they can’t write off the debt as they should. These are impossible debts in Europe, particularly like in Greece. They are impossible debts to pay, but the central banks, for example in the EU, will not let any of these countries go bankrupt because the fear is it would trigger a cascade of defaults among the derivatives players, which would bring everything down.”

WarrenBuffet-Financial_Derivatives_r_WMD_n_time_bombs_for_the_economic_system1

Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, has warned that the so-called notional value of the worldwide derivatives market is over $1.4 quadrillion (Quadrillion = 1000 Trillion).

Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, has warned that the so-called notional value of the worldwide derivatives market is over $1.4 quadrillion (Quadrillion = 1000 Trillion).

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August 17, 2016 Posted by | Economics | , , , , , , , , , , , , , , | Comments Off on Ellen Brown: Cascade of Financial Derivative Defaults Would Bring Everything Down

GREEK NIGHTMARE: Athens’ Crippled Economy Could DESTROY The Eurozone And SPARK GREXIT

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  • GREEK NIGHTMARE: Athens’ Crippled Economy Could DESTROY The Eurozone And SPARK GREXIT
    by LANA CLEMENTS, http://www.express.co.uk/ 
    GREECE’S troubled economy remains crippled with its citizens paying the price – one year on from the financial meltdown which pushed the eurozone to the brink.

    Austerity measures slapped on the country by Brussels in return for a third bailout have meant stringent tax rises and harsh spending cuts. Yet there is little sign that a recovery is in sight and many feel another disaster is looming. Unemployment is close to 24 per cent. And the economy is expected to shrink by another 2.3 per cent this year, despite a surprise 0.3 per cent of growth reported in the second quarter of 2016.

    It follows a biting six-year recession that lasted until 2014. Crippled by a whopping €320billion (£278bn) of debt, Athens has little room for manoeuvre. Now it’s thought Greece is just another crisis waiting to happen in what is likely to be a rerun of last summer’s debacle. Aristides Hatzis, associate professor of law and economics at Athens University, said: “If we continue down this road, a fourth, even a fifth, bailout should be expected. “I don’t see any progress. The economy is stagnant, the private sector devastated, the public administration underfunded and ineffective. And there is always the spectre of Grexit at the end of the tunnel.”

    A backlash against the European Union is now on the rise in line with other states in the bloc and amid Britain’s vote to leave. Just half of Greeks believe remaining in the euro is good for the country, according to the Guardian.

    read more.

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August 16, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Comments Off on GREEK NIGHTMARE: Athens’ Crippled Economy Could DESTROY The Eurozone And SPARK GREXIT

The Planned Fracturing of The EU This Jubilee Year Continues: Greece, Italy, Spain Consider Exiting

EUrope_collapse1

  • The Planned Fracturing of The EU This Jubilee Year Continues: Greece, Italy, Spain Consider Exiting
    by When we started The Dollar Vigilante in 2010 we stated that the worldwide central banking fiat money system would collapse within the decade.

    It was just math.  Government debt continues to mount and the only way to pay interest on the debt is to print more money.  The US government, alone, has doubled its debt in the last eight years, from under $9 trillion to now well over $19 trillion. Almost every Western government has done similarly and central banks continue to print money to make the dead system seem like it is still alive.

    Early in 2015 we caught on to an occult (hidden) timeline by which major financial events occur called the Shemitah, and the year after called the Jubilee (or Super Shemitah). On the end day of the once-every-seven-year Shemitah, in 2015, we wrote, “Eurozone Collapses, Borders Erected Across Europe On Shemitah End Day“. 

    A few accused us of making a mountain out of a mole hill.  They said, to paraphrase, “This is just a temporary issue related to the refugees, it’ll be fixed soon and the EU will be back to normal.” We, on the other hand, stated that we expected the EU to be in tatters by the end of the Jubilee Year (October 2, 2016).

    And look at what has happened.
    The so-called “refugee crisis” has been the most talked about thing in Europe for the last year.  Massive chaos and terror attacks (although many were false flags) carried out, and countless figures in politics have said the EU is over. Philippe Legrain, a former economic adviser to the president of the European Commission, admits what is common knowledge in an article for Project Syndicate.

    Leaving the EU once seemed outlandish: no country had ever done it, and only extremists even proposed it. Brexit now makes leaving seem feasible and, to some, reasonable. Already, Geert Wilders, whose far-right Freedom Party is leading in the polls ahead of the Netherlands’ general election next March, is demanding a referendum on EU membership. So, too, is the Danish People’s Party, which is the biggest party in the Danish parliament, but remains out of government.

    read more.
http://www.voxeurop.eu/en/content/news-brief/2211991-10-countries-united-states-europe

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August 15, 2016 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , | Comments Off on The Planned Fracturing of The EU This Jubilee Year Continues: Greece, Italy, Spain Consider Exiting