Germany Backs ECB in Rejecting Lagarde’s Call to Take Losses on Greek Debt !

• Apparently, the private sector, Greek pension funds and everybody else must take a loss on Greek sovereign debts. A haircut of around 60-70%, the latest estimate. But the Illuminist ECB cannot, must not take a loss on it. You also have Illuminist politician puppets enabling these Illuminist banksters. The Illuminist MSM is once again promoting the interest of Illuminist banksters. It is all a SCAM. The Greek sheeple are being financially rape by Illuminists scum! You don’t think so? See here:
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  Greeks furious at ‘intact’ arms spending as eurozone leaders insist on cuts to their public services! 
  France to Greece: You are Broke? Why Don’t You Buy More Weapons! 
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  Germany Backs ECB in Rejecting Lagarde’s Call to Take Losses on Greek Debt! 
  By Jeff Black and Brian Parkin, http://www.bloomberg.com/
  A senior member of Chancellor Angela Merkel’s government rejected suggestions that the European Central Bank take losses on its Greek debt holdings, backing the ECB in a dispute with the International Monetary Fund.
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  “I can’t imagine that European politicians would allow third parties to make such an indecent claim on our central bank,” Michael Meister, the deputy floor leader for Merkel’s Christian Democrats and the party’s ranking finance spokesman, said today in an interview. “That contradicts our philosophy.”
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  While the ECB faces pressure to join private-sector investors in accepting losses on Greek debt, the central bank sees any participation as risking damaging confidence in the institution, two people familiar with the Governing Council’s stance said. The debt was acquired for monetary policy purposes and the ECB is firmly opposed to any restructuring, they said on condition of anonymity because the matter is confidential.
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  Christine Lagarde, a former French finance minister who is the IMF’s managing director, told reporters in Paris today that European governments and other public holders of Greek debt may have to increase support if private creditors don’t go far enough. Talks on a Greek debt swap that must be resolved to free up more aid for the debt-wracked nation have yet to be concluded.
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  “The risk is that by putting the ECB on board, as the IMF asks, this could result in debt-swap negotiations restarting from scratch, which could mean additional delay to an already over-stretched timetable,” said Thomas Costerg, an economist at Standard Chartered Bank in London.
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  … for more click here!

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