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Merkel: “We Refuse to Accept Greece’s Bankruptcy” – Go Figure

Germany will not accept Greece going bankrupt, Chancellor Angela Merkel said in an interview on Monday.”We refuse to (accept) a Greek bankruptcy. We can’t accept that,” Merkel told ZDF German TV according to the channel’s website. Merkel, in a joint interview with French President Nicolas Sarkozy, also said there would only be a second Greek bailout program if Greece secured the sustainability of its public finances.(Reuters)

Earlier on Monday Angela Merkel had warned Greeks that “time is running out“.

In a joint  press conference with French President Nicolas Sarkozy, Merkel said ““I can’t quite understand why we need a few more days — time is running out,” with reference to the Greek-Troika talks in Athens. “An agreement has never been so close, neither for private nor public creditors,” Sarkozy said. “We have to conclude it. We can’t imagine there won’t be an agreement.” Merkel and Sarkozy proposed setting up an account for Greece’s interest payments to guarantee lenders are paid. (Bloomberg)

PS do they drink something?

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13 comments

  1. Merkel said “I can’t quite understand why we need a few more days — time is running out,” ????? Is she serious? Even a large news paper in germany wrote that she is pushing too hard her agenda across Europe and that the EU could disintegrate. I like the old sayings so here is one that fits her ” power corrupts but absolute power corrupts absolutely” :/

  2. Again, you missed the best thing. Merkel arrogate a frozen account for the state budget of greece, in order to serve the debt first:
    http://www.zeit.de/wirtschaft/2012-02/griechenland-gewerkschaften-streik

    Merkel seems to be very despaired.

  3. Read it carefully, its what the google translator made of it:

    “About the escrow account into which the Greek government would not have access, interest payments should the threatened bankruptcy of the state land be processed. This would give investors confidence that they regularly get their interest, said Merkel and Sarkozy. The idea for the extra account apparently based on a plan of Finance Minister Wolfgang Schäuble (CDU) for national redemption fund of the euro countries to reduce debt.

    According to the AFP news agency but not to the Greek income itself but help the international community to block payments to the Special Account. So that the money would not be fully disbursed to the government in Athens.”

    Source again: http://www.zeit.de/wirtschaft/2012-02/griechenland-gewerkschaften-streik

  4. Charles Dickens the great English author and social reformer was born 200 years ago today.

    In his novel David coperfield the character Wilkins Micawber said:

    Annual income twenty pounds, annual expenditure nineteen nineteen six,
    result happiness.
    Annual income twenty pounds, annual expenditure twenty
    pounds ought and six, result misery.

    How true that is today in Greece and Europe.

    I am sure if he was living today Charles would have something to say about the current economic situation.

    Come on Greece take the lead in Europe and default on the debts while you can. Don’t consign your children and grandchildren to decades of debt and poverty to satisfy the unelected masters and their corrupt European dream.

    Happy birthday Charles you have brought joy to millions of people.

    • I was supposed to post on the Dickens read-a thon organized by the British Council today. Dickens is classic on urban poverty conditions. You can’t imagine how often I think of his books and vision Greeks’ future, when I post about austerity impact in Greece.
      Always and forever big Dickens fan!

  5. KTG.
    “Always and forever big Dickens fan!”

    Yes me too, my wife is a Dickens fanatic!!

    • my best regards 🙂 I remember to have read once how Dickens influnced an american writer in terms of compasion for the poor. Unfortuntatley I don’t remember his name.

  6. KTG.

    Edgar Allen Poe.

    It is said, American author and poet who met Dickens in Baltimore in 1842. Poe’s admiration for Dickens’ work was an influence on his own writing. The relationship ended two years later when Poe was slighted in an article about American Poetry written by John Forster (Dickens’ best friend) which Poe believed was the work of Dickens.

  7. Oh and by the way. Has Merkel’s picture been airbrushed? She looks quite normal and human!