Re: Political, financial turmoil in Greece

**bb1** Fri Mar 13, 2015 10:03 pm

Germany was strong-armed by French into swapping the Deutschmark for the euro
By ALLAN HALL FOR MAILONLINE
UPDATED: 10:03, 28 September 2010

Kohl forced to agree to join common currency as part of reunification deal
Hitherto secret papers from the Helmut Kohl era show that Germany was strong-armed by France into swapping the mighty Deutschmark for the euro as the price of reunification.
Spiegel magazine says it has had access to the paperwork that ties in French agreement to the joining of East and West Germany only if Bonn (then the West German capital) gave up its resistance to the common currency.
Francois Mitterand, the French president from 1981 to 1995, knew his neighbours were more than reluctant to trade one of the world‘s strongest currencies - administered by an equally strong central bank - for an unknown quantity.

Read more: http://www.dailymail.co.uk/news/article-1315622/Germany-strong-armed-France-swapping-Deutschmark-euro.html#ixzz3UJVYWMCJ
Follow us: @MailOnline on Twitter | DailyMail on Facebook

See? It's all France's fault.

**Lamplighter** Fri Mar 13, 2015 10:04 pm

Perhaps the Greeks should have taken a leaf out of Iceland's book - they managed to claw their way out of financial ruin. See this interesting article. LL
http://www.washingtonsblog.com/2012/08/top-economists-iceland-did-it-right-everyone-else-is-doing-it-wrong.html

**bb1** Fri Mar 13, 2015 10:16 pm

Thanks, LL, that's an excellent piece.

Unlike the US and several countries in the eurozone, Iceland allowed its banking system to fail in the global economic downturn and put the burden on the industry’s creditors rather than taxpayers.

It's so obvious, isn't it? Just ask yourself, Why on earth should ANY country's taxpayers have to bail out incompetent banks run by crooks and gamblers?

**lily** Fri Mar 13, 2015 10:17 pm

bb1 wrote:Don't apologise for it being the Mail, Lily, these things are always interesting. And that is very interesting indeed.

It was always going to get nasty when they started arguing about the War....

It's amazing that anyone could think a European army could work, it doesn't take much for the old enmity to start again. France and Belgium managed to fall out over the Battle of Waterloo this week. Belgium wanted to release a commemorative coin, France had a hissy fit due to them having lost said battle, and Perfidious Albion laughed at both of them.

It's taken this long for them to fall out? Must have loads of repressed anger there......

rofl

**lily** Fri Mar 13, 2015 10:18 pm

bb1 wrote:Thanks, LL, that's an excellent piece.

Unlike the US and several countries in the eurozone, Iceland allowed its banking system to fail in the global economic downturn and put the burden on the industry’s creditors rather than taxpayers.

It's so obvious, isn't it? Just ask yourself, Why on earth should ANY country's taxpayers have to bail out incompetent banks run by crooks and gamblers?

They shouldn't but then where would their bonuses and backhanders come from?

**bb1** Fri Mar 13, 2015 10:19 pm

Well, if other countries followed Iceland's example, the bankers wouldn't be needing bonuses. Because they'd be in jail.

**lily** Fri Mar 13, 2015 10:21 pm

I know, Bonny. They did the right thing for their country long term.

**Lamplighter** Sat Mar 14, 2015 8:05 am

lily wrote:
bb1 wrote:Thanks, LL, that's an excellent piece.

Unlike the US and several countries in the eurozone, Iceland allowed its banking system to fail in the global economic downturn and put the burden on the industry’s creditors rather than taxpayers.

It's so obvious, isn't it? Just ask yourself, Why on earth should ANY country's taxpayers have to bail out incompetent banks run by crooks and gamblers?
They shouldn't but then where would their bonuses and backhanders come from?

One of my dad's brothers went to live in Iceland when he was a young man, married a local girl and had children. Bothe parents are dead, but the sons still live there. We keep in touch and when the crisis was at its peak Sven told me all they did was retrench, hunker down and work at mending the problem. He is now back up to the standard before the crisis, his company is flourishing and so is Iceland. One major point, the level of politicaal and business corruption in Iceland was minute compared with that in Greece. LL

**bb1** Sat Mar 14, 2015 12:07 pm

Corruption is rampant throughout the West nowadays, LL, which is a huge part of the problem.

**Lamplighter** Sat Mar 14, 2015 12:51 pm

bb1 wrote:Corruption is rampant throughout the West nowadays, LL, which is a huge part of the problem.

Corruption is everywhere, North, South, East and West, no country is free from it. LL

**bb1** Wed Mar 18, 2015 11:35 am

Full-scale riot underway in Frankfurt:

http://rt.com/news/241741-frankfurt-germany-ecb-protest/

Blockupy: ECB protesters clash with Frankfurt police, tear gas deployed (PHOTOS)

Some 350 people have been detained at the Blockupy protest in Frankfurt on the day the European Central Bank headquarters open in the city. 70 police have been injured in clashes. Tear gas was used against protesters, who pelted stones and torched cars.

Watch live footage from the scene

“Many protesters have been injured as police used water cannons and tear gas,” representatives of Blockupy movement told RIA Novosti. The protest is to go on into the night. According to Deutsche Welle, protesters are now trying to storm the new ECB building.

Water cannons and tear gas were deployed by police after the demonstrators torched several cars, pelted stones at police and put tires on fire in the center of the city.

“We have registered over 1,100 offenses… Up to 70 police have been injured,” police told RIA.

More at link.

Political, financial turmoil in Greece - Page 8 Frankfurt-2

Political, financial turmoil in Greece - Page 8 Frankfurt-2

Anti-capitalist protesters pose in front of a burning German police car that was set on fire in the early morning hours near the European Central Bank (ECB) building before the official opening of its new headquarters in Frankfurt March 18, 2015. (Reuters / Kai Pfaffenbach)

**bb1** Wed Mar 18, 2015 11:37 am

The ECB's new building is set to open at 11 am local time (10 am GMT). It is to be “fully operational”, despite the tensions and the police barricading the building, according to the bank management.

The cost of the new ECB headquarters is reported to be 1.3 billion euros.

Banksters must have their comforts when they're driving the peasants into penury!

**bb1** Wed Mar 18, 2015 12:26 pm

More on the rioting, arsoning, and water-cannoning here:

http://www.zerohedge.com/news/2015-03-18/violent-clashes-break-out-thousands-protest-austerity-next-new-ecb-headquarters-fran?page=1

Someone better tell Merkel the peasants are revolting....

**bb1** Wed Mar 18, 2015 2:38 pm

http://www.zerohedge.com/news/2015-03-18/ecb-prepares-grexit-anticipates-95-loss-greek-debt

ECB Prepares For Grexit, Anticipates 95% Loss On Greek Debt

ECB isn't having a good day, is it, what with this, and rioters trying to burn down their shiny new building?

If Greece repays 5% of the debt, that will be just about fair, as the Greek people saw little or nothing of all these 'loans'. More than 90% appears to have been rows of zeros flashing around computer screens before coming to rest in assorted hedge funds, dodgy bonds, and Deutsch Bank.

**lily** Wed Mar 18, 2015 3:17 pm

Oh my!

**bb1** Wed Mar 18, 2015 3:19 pm

I do wish American rioters would get the hang of it, Lily. You do NOT attack shops and steal trainers, TVs and booze - that is correctly called 'looting'.

No, if you want to upset the government, you go for government premises - NOT the local police, either. You go for tax offices, that sort of thing. Like the French do!

**lily** Wed Mar 18, 2015 3:42 pm

**bb1** Wed Mar 18, 2015 9:22 pm

It's getting rather heated in Frankfurt......

http://news.sky.com/story/1447371/frankfurt-in-flames-amid-anti-capitalist-rally

Frankfurt In Flames Amid Anti-Capitalist Rally
Police appeal for calm as officers and firefighters come under attack during a protest over the new ECB headquarters.

Violent clashes have broken out in Germany's financial capital during anti-capitalist protests marking the opening of the European Central Bank's new headquarters.

Police in Frankfurt say they have so far detained 550 demonstrators after trouble flared on Wednesday, which saw water cannon used.

More than 90 officers were reportedly injured after police and firefighters came under attack from activists throwing stones and tear gas.

Rally organisers said more than 100 protesters were hurt by police.

A number of cars were also torched across the city, including seven police patrol vehicles.

Streets were closed by stacks of burning tyres and rubbish bins, while shops were also damaged.

The police and fire departments both issued appeals on Twitter, urging protesters to remain calm.

"Our firefighters are being attacked. Please stop doing that!" Frankfurt Fire Department tweeted.

Shortly before the ECB building's inauguration, police used water cannon to disperse groups of protesters gathered outside the security zone around the 185-metre (605ft) new skyscraper.

Later, police said 17,000 people, under the "Blockupy" banner, took part in a procession across the city where there was a major police presence.

"It is one of the biggest deployments ever in the city," a police spokeswoman told news agency AFP.

The authorities said stones had been thrown at officers and warned water cannon was on standby.

German leaders condemned the violence but defended people's right to protest.

Finance Minister Wolfgang Schaeuble said: "No one has the right to endanger the life of police and fire officials."

Blockupy, which brings together an alliance of anti-capitalist and anti-austerity groups from across Europe, has repeatedly organised protests in Frankfurt's banking district since 2012.

The organisation is targeting the ECB over its role in imposing austerity measures on financially troubled countries like Greece.

On its official Twitter page, the group accused police of brutality.

"Stop police violence," it said.

Meanwhile, activists have erected a banner reading "capitalism kills" in view of the new building.

I have to say, the ECB picking right now to celebrate the opening of its opulent new HQ was rather rubbing salt in wounds.....

**lily** Wed Mar 18, 2015 10:23 pm

That skyscraper costing hundreds of millions sticking up there to their money gods, is in their faces. They must have known that sooner or later matters would come to a head?

**bb1** Wed Mar 18, 2015 10:27 pm

Given ongoing events in Europe, Lily, it's a real, Let them eat cake. Complete arrogance and madness.

**lily** Wed Mar 18, 2015 10:46 pm

Imagine they thought that might happen sooner or later and have some plans to put in place?

**bb1** Wed Mar 18, 2015 10:55 pm

They've become so arrogant - possibly not, Lily.

**lily** Wed Mar 18, 2015 10:58 pm

Yes, I keep on giving them the benefit of being efficient, Bonny.

**bb1** Sat Mar 21, 2015 6:04 pm

Oh dear. The German publishers thought this would be satirical and humourous:

Political, financial turmoil in Greece - Page 8 Spiegel%20front%20page_0

Political, financial turmoil in Greece - Page 8 Spiegel%20front%20page_0

No-one will be surprised to know it's made things ten times worse.

http://www.zerohedge.com/news/2015-03-21/spiegel-goes-there-hitlers-hordes-respond-greece-send-nazis-and-merkel-acropolis

Of course, the purpose of the article is not to suggest that the "Fourth Reich" is back and is taking over Greece: Spiegel merely summarizes the case that Greece is trying to make, which as we previously reported, Athens will use it Wehrmacht archives (which are over 400,000 pages), to support country’s claim for war reparations from Germany for damages inflicted during World War II in period 1941-1944, Greek Defense Ministry says in e-mailed statement.

Frankly, if the happy euro union is now using Wehrmacht records to settle arguments, it's time to call it a day, write the euro off as a very bad idea, as things can only get much, much worse.

**lily** Sat Mar 21, 2015 6:17 pm

Am shocked.

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