Greeks Lining Up for German Lessons
Here is a catchy song for you Greeks to Learn. Move to Austria or the USA. You’re welcome in the USA.
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Greeks Bankrupting Own Country as Money Flows to Germany
Deposits flow out of Greece, Spain and Italy to move cash to less indebted nations such as Germany.
Greece (TODETOGR)’s total deposits plunged 28 percent from the peak in June 2009 to 169 billion euros ($225 billion) at the end of December, according to data compiled by Bloomberg. In Spain (TODETOES), deposits slid 5 percent in the five months through November to 934 billion euros, the least since April 2008. Italian (TODETOIT) banks held 974 billion euros in November, the lowest in 18 months.
Deposits in Germany (TODETODE) have climbed by almost 10 percent since May 2010, when Greece was granted its first bailout. Deposits have risen every month except five since the end of 2009, and reached 2.15 trillion euros at the end of 2011, Bloomberg data show. The deteriorating growth outlook in the euro region risks exacerbating those flows, according to Dario Perkins, an economist at Lombard Street Research in London.
“The biggest systemic risk is if people lose confidence in keeping their euros in Spain, Portugal or Italy,” Perkins said. “It makes sense to put your cash into Germany just to be safe and that’s where the real systemic danger lies. That contagion isn’t priced in, and bank deposits are the place we’d spot it.”..
Draghi Takes Tough Talking Line On European Little People as he hands out Cash to Banksters
FRANKFURT—European Central Bank President Mario Draghi warned beleaguered euro-zone countries that there is no escape from tough austerity measures and that the Continent’s traditional social contract is obsolete, as he waded into an increasingly divisive debate over how to tackle the region’s fiscal and economic troubles.
In a wide-ranging interview with The Wall Street Journal at his downtown office here, Mr. Draghi reflected on how the region’s travails were pushing Europe toward a closer union. He said Europe’s vaunted social model—which places a premium on job security and generous safety nets—is “already gone,” citing high youth unemployment; in Spain…
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Hancock Prospecting Pty. chairwoman Gina Rinehart. Photographer: Ron D’Raine/Bloomberg
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Europe’s Monster Housing Bubble
I will bet you real estate in Greece and Italy is still a fortune. I lived in a dump apartment in Athens and Milan. A high class dump, it reminded me of a Japanese hotel room. I had okay digs in Paris but lived outside of the city. Europes never been cheap that is why so many people leave. It could be people know hyperinflation is coming globally in which case this is not a bubble. Someone with some time should compose a poem about the Central Banksters and their bubbles.
Who is Funding European Subprime and Housing Bubble.. Yep Mr. Satan, Jamie Dimon at JPM
Please contact your Congress person. Send this this article and the above and tell them Americans should not have to guarantee English, French and German housing bubbles. Outrageous!!!
Smirkel Plays Money Power Politics.. Reneges on Additional 250 billion ESM Commitment
It did not last long the latest deal..eh.
”European solidarity is not an end in itself and should not be a one-way street. Germany’s engagement has reached it limits,”
Hidden Transcript of Bretton Woods Found-Redacting Begins