Germany prepares for Greek bankruptcy

From Spiegel, who will have a full report on Monday.

German Finance Minister Wolfgang Schäuble, who is reportedly doubtful that the country can be saved from bankruptcy, is preparing for the possibility of Greek insolvency

The big question is whether Greece defaulting will lessen or increase the financial pressure on Spain and Italy. And of course the banksters will be squealing they need to be bailed out by governments if they take a haircut on Greek bonds. God forbid they ever be responsible for their actions, that would just be so wrong.

There have been huge protests there even as Prime Minister George Papandreou panders to the banks, promising no bankruptcy, no haircuts, just continued impoverishment for the people of Greece.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.