Article

2011-07-06 Europe

Portugal downgrade hits European bank shares

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Posted by tipper 2011-07-06 09:42|| || Front Page|| [1 views ] Top

#1 But either you're a greedy, spineless, amoral pol or you're a statesman. Which would you rather be known as in the history books?

That's easy. Which pays better in the here and now? Short term personal wealth will ALWAYS win with the type of politician of which you're speaking.

Posted by AlanC 2011-07-06 11:48|| 2011-07-06 11:48|| Front Page Top

#2 I think Greece is too far gone merely to stop issuing new debt. Their financial status is such that they must default on the debts they already have and start over. Or should I say, Greece must default on even more of its debt than it already has defaulted on.
As far as the other PIGS, never fear - the EU mandarins have a cunning plan up their sleeves -- LYING. The EU commissioner in charge of financial regulation said the EU could explore the possibility of suspending the rating of countries that are currently receiving bailout funds from the EU and IMF, namely Greece, Ireland and Portugal. Suspending the rating means the central banks can accept worthless defaulted paper as collateral for new loans, papering over what can only be called a default. The EU authorities can also revoke the licenses of rating agencies like S&P, etc. Anything but deal with the truth.

Posted by Anguper Hupomosing9418 2011-07-06 15:20|| 2011-07-06 15:20|| Front Page Top

#3 But either you're a greedy, spineless, amoral pol or you're a statesman. Which would you rather be known as in the history books?

Winners write the history books.

Posted by g(r)omgoru 2011-07-06 16:45|| 2011-07-06 16:45|| Front Page Top

#4 See also WAFF > IFF THEY DEFAULT, GREEKS WON'T BE THE FIRST IN EUROPE TO DO SO, as many Euro, World States have done so in the last century.

ARTIC:

> SPAIN = has defaulted 13X
> GERMANY = 3X
> ENgland = 3X

* SAME > GREECE MUST SELL OFF ITS ASSETS EAST-GERMANY-STYLE. However, Greece will pay a price as per seeing its sovereignty MASSIVELY LIMITED.

Posted by JosephMendiola 2011-07-06 23:30|| na 2011-07-06 23:30|| Front Page Top

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