Skip to content
Socio-Economics History Blog

Socio-Economics History Blog

  • About

Socio-Economics History Blog

Socio-Economics History Blog

Meltdown Fears For Euro As G20 Makes Plans For Athens To Default on Debt!

September 26, 2011 by mosesman

  • This coming collapse will start in the PIIGS, spread to the rest of Eurozone, UK, Japan … and finally America. The rest of the world will tank as the tsunami waves of financial collapse reach them. All fiat currencies are scheduled for destruction via hyperinflation. The Illuminist plan to ‘solve’ the financial tsunami is QE to infinity! This guarantees currency debasement and currency war. Got physical gold/silver yet? This sharp correction in prices of gold/silver looks like the final correction before they explode astronomically higher. Gold will be around US$3,500/oz and silver US$150/oz within a year! Do not be afraid ! The Indians and Chinese are buying physical gold/silver with both hands! (emphasis mine)
    –
    Meltdown fears for euro as G20 makes plans for Athens to default on debt
    By Ben Chu in Washington and Margareta Pagano, http://www.independent.co.uk/
    Finance Minister signals Greece may opt for 50 per cent writedown on bonds as top economist warns Spain and Italy could be forced out of single currency
    –
    The world’s leading economic powers are moving towards an acceptance that Greece will default on up to half of its €350bn sovereign debts, according to reports from meetings in Washington yesterday. They are believed to be working on concrete plans to deal with these huge losses and their repercussions.
    –
    This news – almost regardless of any words of qualification that emerge this weekend – will have a resounding effect on the febrile markets when they open on Monday.
    –
    Unconfirmed reports circulated yesterday that G20 leaders have recognised that the Athens government cannot cope with the scale of its debt burden and that there will eventually need to be a considerable reduction in the face value of Greek debt. The Finance Minister, Evangelos Venizelos, was quoted by two Greek newspapers as suggesting that a 50 per cent writedown for the holders of Greek bonds would be the “best option”.
    –
    The priority for national policymakers now, apparently, is to contain the impact by recapitalising banks and boosting the powers of the European bailout fund by the time of the next G20 meeting in November.
    –
    Last night, the Chancellor, George Osborne, said: “There is a recognition here that the global debt crisis has entered a dangerous phase.” Asked whether the G20 was preparing for a Greek default, he tried to dampen speculation by saying: “No one has put forward a plan for a Greek default.”
    –
    The reports that officials are planning for default coincided with a warning from Dr Nouriel Roubini, the economist known as “Dr Doom” since he predicted the 2008 credit meltdown, that unless European leaders beef up the resources of the eurozone bailout fund, Italy and Spain could be forced out of the euro by panicking markets.
    –
    The US economist said in an interview: “Italy and Spain are toast, unless we have a tripling or four times as much of official resources to backstop them.” In the interview with Emerging Markets magazine, he said that another global downturn is now inevitable and that the only open question is how severe it will be. “At this point the debate is not whether we’re going to have a double-dip recession or not. The double dip has started. The only question is whether we are going to have a mild recession in advanced economies or whether we’re going to have a severe recession… The answer depends on whether you can keep Italy and Spain.”
    –
    G20 leaders, meeting in Washington yesterday, pledged to take decisive action to halt the crisis over eurozone sovereign debt, which has triggered turmoil in the financial market after the delay in approving the Greek bailout package agreed in July.
    –
    This followed an earlier pledge made by the G20 finance ministers on Friday to “maximise” the impact of the bailout fund, although they gave no specifics.
    –
    The US Treasury Secretary, Timothy Geithner, stressed in a BBC interview that the costs of the crisis are growing with each day the eurozone leaders fail to take decisive action. “These things have the classic dynamic that the longer you wait, the harder it is to solve, the more expensive it is to solve. There’s a huge premium on early action.” But he also claimed that the penny has finally dropped for European politicians. “I believe, on the basis of all my private conversations, that the leadership of Europe are going to move more forcefully and do what’s necessary to reverse this erosion of confidence.”
    –
    …. for the full article click here!

end

Post navigation

Previous Post:

EU Given Six Weeks To Protect Itself Against ‘Inevitable Greek Default’!

Next Post:

Peter Dale Scott: American War Machine!

Pages

  • About

Recent Posts

  • Franklin Graham Reacts to Biden Omitting ‘God’ from National Day of Prayer
  • Israel-US to Simulate Strike on Iran; Turkey Rejects Sweden-Finland NATO’ Bid TV7 Israel News 18.05
  • WHO Tries To Form World Government and Geraldo Rivera Is Exposed
  • Good Morning America Admits Vwac-xine Boosters Destroy Your Immune System
  • City Mayors Working Directly With U.N. as U.S. Government Surrenders Authority to the W.H.O.
  • The Great Reset | Google Co-Founder “Eternal Life? In 10 Years We Have an Implant In Our Brains?”
  • Bill Gates And World Health Organization Drafting A Global Pandemic Treaty Is Nothing Less Than Bringing In The Government That Antichrist Will Require?
  • Third of Global Population Killed in Next War Cycle – Charles Nenner
  • Orbán Warns West is Subjecting Itself to “Suicide Waves” of Decline
  • Situation Update, May 17, 2022: America Will Soon Become an ACTIVE WAR ZONE With Radiological Attacks
  • Fully VWAXCED YOUNG ADULTS Are 92% More LIKELY TO DIE than UNVWAXCED YOUNG ADULTS (Daily-Expose)
  • UN-WHO PLANDEMIC TREATY (Sen. Malcolm AU; Dr. Tess Laurie UK) Forced Jabxbing; Detention Camps +
  • Key NIH Research Executive Received 70 Secret Royalty Payments; Colleague Got 7
  • The American Journal: “Twitter Does Not Believe in Free Speech,” Says Senior Engineer – FULL SHOW – 05/17/2022
  • Russian Ops in Ukraine: Advances in Donbas, Ukraine Surrenders at Azovstal
  • Investigation Launched After ‘Mystery’ Surge in Deaths of Newborn Babies
  • Pandemic Treaty Will Crush Sovereignty: Elected World Governments Prepare For Global Enslavement
  • A Currency Apocalypse Courtesy of the Old Lady of Threadneedle Street.
  • Mortality Among White Collar Workers Jumped 24 Percent Between 2020 And 2021, Life Insurance Data Show
  • Azov Battalion SURRENDERS in Mariupol

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011

Categories

  • Disaster
  • Economics
  • Endtimes
  • Geo-Politics
  • History
  • Medicine & Health
  • Satire
  • Science & Technology
  • Social Trends
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org
September 2011
M T W T F S S
« Aug   Oct »
 1234
567891011
12131415161718
19202122232425
2627282930  
© 2022 Socio-Economics History Blog | WordPress Theme by Superbthemes