Greece, haircuts, and changes in perspective

Super B · November 13, 2012, 20:35

Taken from ekathimerini.com:

From Behind her (International Monetary Fund chief Christine Lagarde's) sharp exchange with Eurogroup chairman Jean-Claude Juncker lies a rift over whether eurozone governments need to write off some of Greece's debt to them to make it manageable. IMF officials have pressed for such a «haircut» while Germany, the biggest contributor to euro zone bailout funds, has vehemently rejected it as illegal.

Funny how PRIVATE investors were "encouraged" to voluntarily take a haircut (lose more than half their investment), while suggesting that governments do the exact same thing is decried as "illegal"................

**Thorack** · November 14, 2012, 06:46

Well,

Zee Germans mus du everysing by zee buch. Besides I think they are holding out that the Greeks may pay them back with an island or two.

Thorack

**308bolt** · November 14, 2012, 08:19

Quote:

Originally Posted by Super B

Funny how PRIVATE investors were "encouraged" to voluntarily take a haircut (lose more than half their investment), while suggesting that governments do the exact same thing is decried as "illegal"................

In the U.S. we weren't even encouraged.
Our gov. in it's wisdom just took half our money (investments and savings included) by inflating the currency.

gates · November 14, 2012, 09:33

If the Germans want an Island I'd suggest Santorini - beautiful sunsets.

November 13, 2012, 20:35	#1
Super B Registered FALaholic #: 404 Join Date: Jul 2000 Location: Tallahassee, FL,, USA Posts: 1,653	Greece, haircuts, and changes in perspective Taken from ekathimerini.com: From Behind her (International Monetary Fund chief Christine Lagarde's) sharp exchange with Eurogroup chairman Jean-Claude Juncker lies a rift over whether eurozone governments need to write off some of Greece's debt to them to make it manageable. IMF officials have pressed for such a «haircut» while Germany, the biggest contributor to euro zone bailout funds, has vehemently rejected it as illegal. Funny how PRIVATE investors were "encouraged" to voluntarily take a haircut (lose more than half their investment), while suggesting that governments do the exact same thing is decried as "illegal"................ __________________ There's nothing more dangerous than a colossal, bankrupt, and well-armed government---Porter Stansberry

November 14, 2012, 06:46	#2
Thorack Acquisition Corp Dude Bronze Contributor FALaholic #: 748 Join Date: Aug 2000 Location: Omaha, Nebraska, USA Posts: 5,870	Well, Zee Germans mus du everysing by zee buch. Besides I think they are holding out that the Greeks may pay them back with an island or two. Thorack __________________ 1. Whenever you are talking to a woman realize this person was born insane and you will never be surprised. 2. Never let Doctors cut on you unless its life or death and ALWAYS get a second opinion.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

November 14, 2012, 09:33	#4
gates Registered FALaholic #: 129 Join Date: Jul 2000 Location: phx az Posts: 10,429	If the Germans want an Island I'd suggest Santorini - beautiful sunsets.