- The financial MSM is once again selling: ‘Greece is saved ! Bailout is agreed !’. Really? I don’t think so. You cannot solve a debt problem with even more debts. This is simply the raping of (mainly) the German sheeple by getting them to pay the banksters for debts owed by Greece. And forcing the Greeks to bear the bill. When Greece defaults, the German public will be screwed. Both the Germans and the Greeks are being financially raped by their Illuminist politician puppets for the Illuminist banksters! This so-called bailout has nothing to do with helping the Greek public or German public!
More Leaked Greece Details: Downside Case Sees Funding Needs Soar From €136 Billion To €245 Billion!
by Tyler Durden, http://www.zerohedge.com/
The FT’s Peter Spiegel has scoped up some additional details from the 10 page debt sustainability analysis that is at the basis of the latest Greek bailout talks. Some of the critical details:
– “even under the most optimistic scenario, the austerity measures being imposed on Athens risk a recession so deep that Greece will not be able to climb out of the debt hole over the course of the new €170bn bail-out.“
– A German-led group of creditor countries – including the Netherlands and Finland – has expressed extreme reluctance since they received the report about the advisability of allowing the second rescue to go through.
– A “tailored downside scenario” prepared for eurozone leaders in the report suggests Greek debt could fall far more slowly than hoped, to only 160 per cent of economic output by 2020 – far below the target of 120 per cent set by the International Monetary Fund
– Under such a scenario, Greece would need about €245bn in bail-out aid, nearly twice the €136bn under the “baseline” projections.
– “Prolonged financial support on appropriate terms by the official sector may be necessary,” the report said, a clear reference to the possibility that bail-out funds may be needed indefinitely.
– Even in best case scenario country will need at least €50 billion on top of €136 billion.
– A recapitalisation of the Greek banking sector, which originally was projected to cost €30bn, will now cost €50bn. A highly touted Greek privatisation plan, which originally hoped to raise €50bn, will now be delayed by five years and bring in only €30bn by the end of the decade.
Translated, this is yet another confirmation of what we have claimed all along – that Germany is no longer playing along.