Greece Bailout is Not a Bailout, Says Europe

Tuesday, March 23, 2010 , , , , 15 Comments

Yeeeeeeah mmkay, if it's not a bailout, what exactly is it? Ask JP Morgan what a bailout is. Ask GMAC what one is. Ask middle America what one is, hell, they've seen the "project funded by ARRA" signs (and spent good government money Googling "fisting" just for kicks). So, do tell, sir, if this isn't a bailout, you're going to have to define what it is.

Call me ignorant (or anything else you'd like to) but it quacks like a motherfucking duck.


European Commission President Jose Manuel Barroso has said any euro zone aid package for debt-stricken Greece would not constitute a bail-out as European Union partners clashed over possible financial support.

In a interview with the Financial Times published on Tuesday Barroso, hoping to reassure markets by finalizing a financial safety net for Greece, also said he was confident of winning German backing for a deal.

"I know Chancellor Merkel. She is a committed European and I have no doubts that she will, if needed, be in favor of providing financial assistance to Greece," Barroso told the FT.

The 16-nation euro zone is divided over whether and how best to provide financial help to Greece, whose struggles to cope with high debt and deficits have plunged the currency bloc into the deepest crisis of its 11-year existence. EU leaders are slated to meet March 25-26 to address the crisis.

Wait, it gets better. I hope you all are Kumbayaing over there as we speak because you're going to need that We Are the World hand-holding bullshit to get you through, Europe. Seriously.

Let's all have a vigil for the euro now.

(s'more Reuters:)

Seeking to build consensus Barroso repeated an appeal to Germany's interests as the biggest economy in securing a stable single currency area, which is its number one export market.

"There is no stability without solidarity and no solidarity without stability," he told the FT.

That sounds like hokey European socialist bullshit if you ask me but whatever works for them I guess. We can't say Mexico exactly came running to help US when OUR economy was in the toilet so maybe I'm just bitter.

Barroso also expressed concerns over the "theological debate" surrounding a little IMF hand-out to plug Greece's massive monetary hole. I'm not sure what exactly he thinks is theological about the argument unless he has confused money with God somehow (happens) but can someone please have a sit-down with the man and explain what's actually going on? Thanks.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Anonymous said...
Anonymous said...

TLP speaks German, he should know that one...

It's "fick dich" ... but there are much better dirty things to say auf Deutsch

Anonymous said...

Thanks TLP, you rock - on pronunciation is is the "i" long or short? I'm guessing it is short one and long the other. It even sounds like an insult on a gut level and I don't even know the language!

next up in the lineup and warming up in the on on deck circle

The vowel is short in "fick" but it's a long "e" in "dich" with that gutteral German sounds that makes Deutsche dirty talking dirty ... try "deekhhhhh" and let us know how it goes down.

Anonymous said...
Anonymous said...

"that gutteral German sounds that makes Deutsche dirty talking dirty ... "

TLP - it's a weird language
terrifying and erotic all at the same time

That's what she said.

Anonymous said...

chuckle, chuckle

Anonymous said...

Things that make you go "Hmmmmmm?"

Of almost 31,000 votes cast in an online survey by the German daily “Bild,” 82 percent of respondents said the European Union should not rescue Greece. And an editorial in the same paper declared, “The proud, cheating, profligate Greeks” ought to be “thrown out of the euro on their ear.” I think this editorial expresses a very pervasive view in Europe that is not expressed by the politicians, but it is one that will influence their decision-making.

The hysterical bride in the penny arcade
Screaming she moans, "I've just been made"
Then sends out for the doctor who pulls down the shade
Says, "My advice is to not let the boys in".

Now the medicine man comes and he shuffles inside
He walks with a swagger and he says to be bride
"Stop all this weeping, swallow your pride
You will not die, it's not poison".

Pride goes before destruction, a haughty spirit before a fall.

Anonymous said...

Their banks are going to lose an awful lot of money if Greece (or Spain, or Portugal, or Ireland) goes under and their political class knows it. The average person on the street probably doesn't think that much about it so he or she is of the opinion that the Greeks should be allowed to go tits up. My opinion is that they're in a damned if you do and damned if you don't proposition. To me, it sounds eerily similar to our own predicament. I didn't run this through Word for spelling so don't break my balls if you come up with a spelling or grammar error - OK? - nevermind, I knew that if I did misspell something, you'd jump on it so I ran it through and found that I had made an error on similar (two ll's).

Anonymous said...

ten years ago

"The international financier George Soros has said that the euro will continue to fall unless the European Central Bank intervenes to support it."

So the ECB does what it is advised (?) to do...

"In the words of last Friday's Financial Times editorial, the ECB intervention had the “unfortunate impression of a doctor administering tonic to an invalid. The patient showed brief signs of recovery but soon relapsed to his formerly poorly state.”

And I guess we got sucked into this also?

"In the words of Guillaume Sciard, a fund manager with Barclays Asset Management in Paris, cited in the Washington Post, the United States “is being forced to play a very risky game. They have to do everything possible to keep the dollar strong because that is absolutely vital for them in order to keep money coming in that is used to finance the balance of payments deficit.”

And today we're going to go through a wash, rinse and repeat cycle? This man should make up his mind. I'm really starting to dislike him.

Anonymous said...

I wonder if his fucking fund would be allowed to exist in a Communist country? Trot him out to Siberia and lose his ass...

Anonymous said...

I think one thing that these old fossils really don’t yet grasp is that everything they’ve ever written or had posted on the internet is readily retrievable via a Google search that any Goombah (like yours truly) chooses to perform. I hope that the stronger Euro countries do the right thing and throw out the irresponsible ones to fend for themselves and simultaneously stick it up Soro’s wrinkled ass. Maybe even jam a cell phone up there as well – only instead of set to vibrate, get some German engineering student to set it to shock instead then light him up. Greece and Spain were not weak – they were fucking irresponsible – there’s a difference.