Greek Exit and the EU - Eurozone Crisis

Guardian Live - Greece: Reports that President Hollande of France has stated that he is not aware of any back up plans by the EU in the event of Greece leaving the Euro, the 1.56pm post states the following on the planning, " ..eurozone officials agreed on Monday to work on contingency planning for a Greek exit. ".

Lets Get Real:

Either the new French President is clueless or is being economic with the truth, the problem with Hollande is that he is still in election mode, the French are going to vote in their Parliamentary elections soon, the new left wing President does not want to find himself sharing power with a extreme right wing PM, that would be a perfect nightmare. The post notes that Hollande wants Euro Bonds as to bailout the PIIGS, the Germans have made it clear that is a firm NO. If the French want to bailout the Greeks, that's their problem. One can shout about growth in till one is horse, but its not a quick solution, just ask the Obama White House, their shovel ready projects were not that ready, and they didn't work, US unemployment went over 8%. The left has to get the fact that Government does not create jobs, its spends money it does not have, and different Parties have different interests, for the left its the Unions. Thus in a age of austerity the Unions want to spend, that's one way to become a modern Weimar Germany. Thus will we get June 17th with the Greeks still in the Euro, its a open question folks.

German Bundesbank and Greece

Telegraph Live - Greece: Reports in its 11.45am post of a warning from the German version of the Bank of England, the Bundersbank to Greece, the post notes the following, " ..it is putting any future financial aid at risk by failing to elect a government which promises to stick to the bailout terms. ".

Lets Get Real:

The Germans folks are not going to pay for the election promises of the French or the Greeks. This is a brutal warning, either elect a Government that the Germans want or your on your OWN. It is about time that someone from the EU leadership was this plain. The last such comments got the UK PM David Cameron in hot water, but such comments show leadership, its telling the voter the hard truth, no spin, just the harsh fact of reality. The German Basic Law, the German Constitution states that Germany can not take on the debts of others, the Germans recall the disaster that was the Weimar Germany and the raise of Hitler. Thus Greece has a brutal choice, IN or OUT, no discussions, no revised agreement, tough austerity or Greece is out of the Euro. Is Athens sleeping walking over a cliff, or have the Greek people lost the plot so much they cant tell what is real any more, lets see what June 17th bring folks.

The Markets and Greece - Eurozone Crisis

BBC News: Reports on comments by former Greek PM Lucas Papademos, the former PM has stated that the Greek Government might be making plans to leave the Euro. This has sent EU Stock Markets tumbling.

Lets Get Real:

One can postulated folks that Greece might be out of the Euro before the June 17th Greek General Election, how long can the Markets take this constant up and down from Euro leaders when it comes to the Greece and the Euro. At the G8 the Leaders made it clear they wanted Greece to stay in the Euro but meet the terms of its agreement when it comes to austerity, Stock Markets for some reason went up, now they are heading down again, from between 1% t0 2%. At present the FTSE 100 in the UK at 1.40pm is down 2.9%. There is another EU leaders meeting tonight folks, as the article notes new French President, Francois Hollande wants Euro Bonds, the Germans have said NO, they fear that they will end up having to bailout the PIIGS till forever. Thus either the Markets or the Germans might decide before June 17th that's enough is enough and give Greece a RED CARD, this blog sees 4/10 chance of that happening, its not out there folks, time is not the side of the Euro or the Greeks.