The winds at the center of the bankster world continue to blow hard with Greek debt flapping in the balance.
President Obama expressed sympathy for the new Greek government as it seeks to rollback its strict bailout regime, saying there are limits to how far its European creditors can press Athens to repay its debts while restructuring the economy.
“You cannot keep on squeezing countries that are in the midst of depression. At some point there has to be a growth strategy in order for them to pay off their debts to eliminate some of their deficits,” Obama said in an interview with CNN’s Fareed Zakaria aired Sunday.
A few days earlier, Matthieu Pigasse, the head of Lazard’s Paris office who has advised Greece in the past, said a 50 percent haircut would give Greece a “reasonable” debt burden. A day after this comment, Greece hired Lazard to advice the country on its debt.
Could the top banksters no longer be holding Greek debt and a major hit will only impact outsiders and minor league players?
With Obama and Lazard are both talking about giving Greece a break, it looks like the fix might be in.
-RW
I know that statists and especially the socialist types have a very hard time grasping the unintended consequences of their actions, but do they not realize that giving Greece any kind of break will only encourage voters in the larger EU economies to demand the same? It seems that in the lefts eternal quest to make everyone in the world more equal, they end up making the world more unfair, which IMO pisses people off far more than inequality.
ReplyDeleteShades of the screwing that GM senior bondholders took at the hands of Obama!
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