Posted Mar 3, 2015 by Martin Armstrong
German Finance Minister Wolfgang Schaeuble has threatened Greece with the state bankruptcy if Athens did not serve its debt with the ECB and the IMF. Greek Finance Varoufakis said they would like to pay, but would not have the money. He therefore wants to negotiate with the ECB on a haircut.In this case, billions would be lost to European taxpayers’ money.
Greece should default. NO COUNTRY has any intention of paying off their national debts – not even Germany. Let’s just get this started. Greece should default and then lets watch what happens to ECB, European banking system, and Germany. We are in a Sovereign Debt Crisis because these people perpetually borrow with NO INTENTION to ever pay off their national debts. The Greeks were sold a theoretical idea of Euroland. That could NEVER work outside the delusional mind of politicians. We will look at the ONLY solution at the upcoming Solution Conference on March 28th.