Destruction of the Euro - Greek Exit

Telegraph Live - Euro Crisis: Reports in its 2.38pm post that the leader of the Greek Syriza bloc, Alexis Tsipras has stated that a Greek exit from the Euro would destroy the Euro.

Lets Get Real:

It is clear that Mr Tsipras is playing high stakes politics, his radical left bloc it can be assumed never expected to come 2nd in the May General Election, the bloc must know think it has the chance to come 1st in the General Election. The Party is playing Russian Roulette with the future of Greece, the UK PM David Cameron has made it clear that Greece has a choice, either vote for the Parties that support the austerity deal or accept that a vote for anti austerity Parties is a vote for Greece to leave the Euro. The Greeks are being blackmailed, its very direct, either the Greek voter accepts years of austerity or they are on their own. Thus Greece could fall apart, this is high stakes politics at its most brutal, either way Greece will suffer, its just the amount of pain it will suffer, there are no easy ways out for Greece, that's the sad part for the good people of Greece.

Criminal or Cad ? - John Edwards Trial

The New York Times: Reports that the Jury in the Trial of former Senator John Edwards are still discussing the verdict.

Lets Get Real:

This blog will vent a bit of Nixon, Edwards had it all, the looks, a successful trial lawyer, VP Nominee on the Kerry ticket in 2004 and a possible Attorney General in the 1st Obama Administration and it was not enough, he started an affair before running for President in 2008 and then tried to cover it up. The Trial will decide if donations to Senator Edwards were personal or part of the Campaign. One might as what is the difference would the donations have been given if Edwards was not running for President. Lets hope the Jury throw the book at Edwards, he is total cad without honour. But does that make him a criminal, lets see what the Jury decides.

POTUS and Germany

Courtesy of the White House

As overhead by an American Eagle, Distance might have confused this conversation.

POTUS: Please AM gives me Euro Bonds, that will keep Greece in the Euro and get me re-elected.

Chancellor: Hows that 16 Trillion Debt going?

POTUS: If we spend we can get growth.

Chancellor: Weimar Germany, NO

POTUS: IF don't get re-elected you get a Conservative President.

Chancellor: Thanks I need a laugh, you bailout Greece after you get re-elected and I will say yes to Euro Bonds.

POTUS: Your not keen on me are YOU, my Staff and the NYT love me.

Chancellor: That's your problem!

Blackmailing the Greeks - Eurozone Crisis

Guardian: Reports on a backlash to the anti austerity Parties in Greece the articles notes the following, " polls indicated that fears of expulsion from the eurozone have helped consolidate support for parties backing the tough terms.. ".

Lets Get Real:

The Greeks are being blackmailed folks, either toe the line and suffer years of painful austerity or face banks runs, civic disorder, the police not be paid, the modern Greek state falling outside the EU. It if the article is picking up on a trend then Greece might vote for austerity Parties, thus no Greece out of the Euro but hardly in either. How many more billions will it cost the German tax payer, if Greece does not have the backbone to get out of the Euro then the Greek crisis will flare up every few weeks or months. It would throw the problem in to the long grass for a bit, and Germany could argue that the EU does not need Euro bonds. Thus the Greek Election on June 17th might only gave the a short breathing space, even if the Greek people are cowed this time, what happens in the days, weeks, months ahead when people are searching for food in bins, when the Middle Class are drive to take such action, kicking the ball in the long grass wont help Greece or the Euro folks.

Greece and the Euro

Telegraph: Reports that the G8 has called for Greece to remain in the Euro but for it to keep to its agreements.

Lets Get Real:

The above in a way is a threat to Greece, toe the line as to your agreement or your out, the political leaders might stress growth but only Germany has the money to bailout Greece and the rest of the PIIGS, and the German tax payer has had enough of its lose spending EU allies. Thus since the May election in Greece the Greeks banks have seen billions taken out by people afraid that their saving will be cut over night should Greece return to its original currency. The question that has to be asked can Greece get to June 17 and its General Election before the Greeks banks go under, will the EU/IMF/ECB bailout the Greek banks before the June election. If not Greece will be carried out of the Euro by events not the political process. Its down to Greek voters folks, they have to decide, austerity or OUT of the Euro. The fate of Greece and the Euro could be settled by the June election in Greece.

G8 and the Euro

BBC News: Reports that the US and French stress on growth won out in the debate at the G8 about the present crisis facing the US and Europe, the losers in the debate are seen as the UK and Germany and their austerity plans.

Lets Get Real:

It does not matter what the US and France want, its Germany that holds the money strings, the US has a near 16 trillion debt, POTUS is taking the class warfare attack at present to keep his uber liberal base happy. In the case of President Hollande he is still in Campaign mode, he has Parliamentary elections coming up, thus he cant fold, he needs to stress growth, as if this is some cure to all the economic ills facing Europe. The nightmare for Hollande after just winning the election would be to share power with the extreme right wing PM, that would be a political nightmare for him and the his left party. The Germans and the UK will of course stress growth but they are not going to drop their austerity plans to keep Hollande happy, as it was noted in Germany of late, the Germans are not going to pay for French election promises.

NYT on Merkel of Germany

The New York Times: Has the following tough Editorial on German Chancellor Angela Merkel and her austerity policy on Greece and the EU, " This is no time to mince words: Her one-size-fits-all austerity program has been a failure.. ".

Lets Get Real:

This is the uber liberal and bloated NYT wanting to spend money, it does not get the fact that the US is heading for a debt of 16 trillion, that EU States minus Germany are broke, that their idea of policy is tax the rich, in other words its the typical left wing rubbish you expect from the NYT and Labour in the UK. The Welfare State created since 1945 in the US and the EU can not be afford folks, sooner or later and it will be sooner the US and the EU will get the fact that the idea that the State can look after you from birth to death will kill that States in economic terms. The very success of the welfare state means that people live longer, thus benefits never go down, they always go up, if you tax people at 100% then you don't get any money in, that simple folks. Why should someone create a business when the left wants to make people that make money hate figures, why go through such a critical review, why bother, that's the question that the left never have an answer, they just want to tax, it never works folks, just look at the UK in the 70s, it was the sick man of Europe, over taxed and no up and go to create business, the EU is heading in that direction folks, the left never has any real answers just slogans, ah for a leaders like Lady Thatcher or Ronald Reagan, the greats, but they don't come around that often folks.