Greece and Money

Daily Mail: Reports that rich crafty Greeks have moved two hundred billion Euros out of Greece in the fear that Greece will be forced out of the Euro and returned to its old currency. If you think your Country is going down the toilet fast what do you do? You get your money out, as the article notes Greek banking authorities fear a run on the banks, also there is a chance that the Greek Government could limit how much cash is taken out of the Country, in other words the rich are getting out, those that will take the pain will be the poor and the public sector, they always get shafted by the MAN.

Violence in Athens - Euro Crisis

BBC News: Reports violence has broken out in Greece during its 48 hour General Strike. One has to be honest, the Greek Government does not have a choice, it has to make deep cuts and raise taxes, otherwise NO money from the troika of the EU/IMF/ECB. The Greek people have years of austerity to face, its going to be tough for Greeks, the good days are well and truly over, the previous miss management of the Geek economy means that the Greek children of tomorrow will be paying back the Geek debt. The rescue plan for the EU calls for banks holding Greek debt to write off 50% to 60% of that debt, thus the banks are going to take a hit, thus the banks will need a bailout. It was reported in the Guardian last night that France and Germany had agreed a two trillion stability fund, lets see if happens folks. Thus far EU politicians don’t give you much confidence, lets hope they turn in to leaders soon, otherwise we are all up the creek.

Good News - Eurozone Crisis

Guardian: Reports that Germany and France have agreed a two trillion bailout fund for the Eurozone. This is part of the rumoured plan folks, a bailout of the banks, the stability fund, and a managed Greek default. If all the small print works out folks this crisis could be over, just a matter of getting all the actors to sing from the same sheet! Its looking good folks.

Spain DOWNGRADE

Telegraph: Reports that Moody’s the Credit Agency has followed other credit agencies and downgraded the credit rating of Spain from A1 to Aa2, the downgrade is due to low growth and high debt in Spain. Lets be honest folks, if Italy and Spain go the games is over, they are to BIG to fail. The rumoured big plan for a banking bailout, a 2/3 trillion bailout fund, and a managed default of Greece has been shot down by Germany. Thus the future of the Euro and even the EU has to be in doubt, it will need a detailed big plan folks, and so far its slow in coming, but there is still time folks, the basic frame work should be known by Sunday when EU leaders meet in France.

Greece CLOSED ?

BBC News: Reports that Greece will face a 48 hour General Strike, the strike is in protest at tax hikes and Government cuts as demanded by the EU/IMF. This should bring Greece to a halt, but the Greek Government has no choice, any weakness by the Greek Government and the EU/IMF/ECB will cut Greece off and it will default. The question is how much pain can Greece take, and at what point do the people say HELL NO, and demand that Greece leaves the Euro. At the end of the day folks this is about protecting the banks of France and Germany, the welfare of Greece is low on the pecking order. Troubling times ahead for Greece folks.

Republican Debate - Review

This debate was rather more feisty folks, Governor Perry became all Texas , he went after Governor Romney on having illegal immigrants working for him, but Governor Romney defend himself, what was interesting was how the audience reacted, they didn’t like the negative attacks on Romney from Perry. Thus it can be argued that Governor Perry miss read his audience, lets see how his political ads work, will they cut the Romney lead. In the case of Herman Cain he did well, he defend his 999 plan, went on the attack when it came to President Obama, that went down well with the audience. Thus result, 1. Romney, 2. Cain. 3. Perry.