Stop asking for more help, Germany tells Greece

LOL, I enjoy the face of the guy in the picture. He mad!

Then just say NO. Asking is one thing. Giving or not is another thing. Nothing to be mad about. A partner asks for help in time of trouble is understandable. To assess whether the partner needs to be helped is not out of question.

Greece hasn't found any solution i suppose. bad news for EUR

Germany should tamper justice with mercy. If Greece leave Euro, it will cost them more.

It is not that Greece ask for help every time, it is just that Germany gotta help as Greece owe them so much money..

Greece has already been helped twice. Mercy has nothing to do with it. They want everything and will contribute nothing. Let them go it alone.

The mistake is not being wrong. The mistake is staying wrong.

Germany's hands are tied. They know they have to help because this euro idea wasn't set up right in the first place. Individual sovereign countries with their own laws under one strict currency? Ya, great idea. Germany talking the tough talk but HAS to give way in the end. They made their bed, now they have to sleep in it. Fleas and all. Let's face it, if even one of the eu countries goes down, Germany goes with it. The ripple effect will take them down too. And, they know it.

Germany wont waste their money into a bucket full of hole.

all is happening good for eur....lets see...

It is not a matter of giving money or not, it is regarding sustainability. The situation of supporting Greece forever is unsustainable and this should be faced than later to avoid incurring in much more cost

supposed to be ...

We are at stalemate. The Greeks will never accept the level of austerity needed to cure their economy and the Germans will not continue to finance the Greek excesses.As posted previously, at some future nearpoint the Germans will call ," game over" and send the Greeks packing.The point is probably when the cost of continuing the bailout exceeds the cost of the Greek exit from the EZ

Here is something that could happen as well - the Germans could elect a government in favor of leaving the Euro. THAT would be interesting to say the lease. Don't underestimate the destruction a democracy is capable of in times of distress.......

Yes, Clockwork, I have thought about that. And even they find out a solution for this whole mess it does not mean the future politicians generation will buy in. That is an unsustainable situation forever.

It seems much less plausible for Germany to leave the eu/euro. All of the continent is monetarily based on the euro's value and it would tank. So what would the economies of Europe be worth then? Not much if they turned their back on their own currency. I would expect debt funding to rise for all of them and what would their debts be based on. A lot of people think Germany can just blow the euro off but it is not that simple. Who would trust the currency(deutsch mark) value of a country that just turned its back on the currency they use to hold and just blew off? Not many. Not plausible imo. What would those countries do with their worthless euros then? Cash them in at half(or less) value? Not likely.

No, it won't ... but it might if give some more

Scheuble and his political clan is responsible for the European problem
By constantly denied what all the economists advice!! Eurobonds
According to his example about Portugal and Ireland the unemployment in these Countries are more than 20% and they GDP is constantly falling, don’t mention Spain that Peoples are waiting outside the churches for they daily meal, with unemployment rate close to 26% ,Scheuble get’s a great deal of responsibility for the mess that Europe is right now
That’s why no one of the leaders supported his plans to run for the presidency of the European Union
Even the German SDP turns its back to him.
Hopefully mr. Scheuble is at the end of his political Carrere and that is a positive thing for Europe’s future and development

But is there a clear implication in this news item or is it just market noise. I do not see how it affects the price of fish or worth any traders precious time.

A lot of different opinions---thats whatmakes horse races and forex markets.

Germans gave them a state, Germans are going to take away too..

I agree that Greece is a German puppet..
a bit of history.. They made [established] that country in 1830 just to cut Russian exit and influence on Mediterranean Sea.
Since then, Greece lives on German support..
Greeks having a very short memory..

If Greece leaves, the Eur will face loss of confidence around the world. Drachma will be instantly devalued by half and the depression will carry on for 2 or 3 years. If Germany leaves the ec and remakes a German Mark, the mark will immediately double in value driving the Germans into a depression lasting untill the whole country decimated for years. Germany has a lot more to lose here and they need to be a little kinder toward those who make their economy competative. Simple solution is to shut down the poorly thought out move for a single currency and let the nations in Europe use their individual currencies - devalue when necessary to remain level continue with a trade pact that doesn't require the mediteranian countries to live on credit or in (unconventional) poverty so that the "great producers" can live like kings up north. I think we all know that the Euro has given to Germany (an unrealistically cheap currency to sell their manufactured goods in) and allowed the southern nations to live on credit (equally as destablizing and imbalanced). Sovereignty must go (the intermational bankers plan) or the countries themselves need to withdraw and start individual national currencies again. The second choice would be good for people, the first is preferred by those who would rule the world. Read about the Georgia guidestones when considering which might Really be a better choice.

Every trader who has entered by his own will in a bad trade full of false averages that will blow his account has EXACTLLY that face!

I have the fix... US needs to bail-out Greece and Spain.... this will drop the value of USD, so my long trades against the USD can close.

I agree with the comments of wlarimer, Germany have had the benefit of a cheap currency, you only have to look at all those taxi drivers around Southern Europe (Its hard to find a none Mercedes taxi in Spain) driving Mercedes 300's bought with Euros. So not only have Germany had a cheep currency, they have given their partners an inflated currency from the ones they left behind, which in turn made German goods more affordable.

But these Southern European countries don't have the mild climate of the Germans, if you put German's into say Southern Spain and asked them to continue working at the same pace, year in year out through those hot summer months they would not be able to and even if the first generation could achieve say 90% of the productivity of those they left behind in the motherland the second and third generations brought up in these warmer climates would start to work more within the limitations of the climate. They would probably move away from manufacturing (because the work is too hard in the hot heat and air conditioned factories would make their products uncompetitive) and look to bring money in through other industries and what better industry lends itself more to a warm climate than tourism.

However the inflated Euro (compared to their old currency) has made Spain and Greece for less attractive for holiday makers, so their main money making industry is failing them because of the Euro, whereas Germany have a currency which is cheaper than their old one and they have benefited greatly from it at the expense of their Southern partners.

But the problems of the single currency go beyond the borders of each Euro country, in that the richer Euro countries (during the better times) have invested heavily in real estate within the poorer Euro countries (looked a good buy at the time), so a return to individual currencies would greatly reduce the value of these assists they now hold.

Germany is one of the few Euro block countries to have made serious money out of the single currency (far more than they could have ever achieved from their old currency), but now they are trapped by it. The Euro greatly needs to devalue for the likes of Spain and Greece to recover, but how will this effect Germany, does it need a strong currency to buy in raw materials for its manufacturing or can it source them within the Euro Block, if it can then a weaker currency is the way forward, but will printing more Euros make it weaker, how do you make the Euro weaker, the answer to this seems to be by doing nothing at all, so maybe that is their plan, the way forward is to do nothing and let the market find its value for the Euro

Greek People are childish , Look at China , when They Were Just Poor State, They endure it , They found solution instead of asking for help. Greek People have to be mature , No Pain No Gain. They Must Build New System. I think They Should send Greek people to study in China.

good on you Wolfgang. Hope Greek leaves the Euro and we can trade Euro-Drachme

When someone is on life support, do you yank out the tubes? Greece is on life support, of course they are going to demand for this and that.

Germany has a real problem, it has control of Europe financially but not politically. They also seem to have no end game plan.

Euro really needs fiscal unity to survive in the long run. Is East/West Germany fiscally united ?
As for greeks having a short memory I don't think they forget the German occupation and the subsequent hundreds of thousands that died as a result during WW2. I wonder if anybody has done the sums and put a monetary value on this and the subsequent compensation from Germany and present help they have given to Greece.

Germany was worse off than Greece in the 1920s and 1930s. Their cash was totally worthless. Then they started a war, got, caused 70 million Europeans to die and they were even worse off after they got arse-kicked. So in came the Marshall Plan and they were helped by everyone whose people they murdered, including Greece, to be where they are today – lending loads of cash to nations and encouraging them to buy German industrial products including arms. In effect Germany has started another war in Europe – an economic war – they have become economic hit-men.

Greece is culpable only in the governments they elected, but then aren’t we all? The Greeks need to get rid of the old firm of government parties and certainly dispense and destroy all communist parties and elect a suitable anti-EU government.

Greeks do work longer hours than Germans despite living in a “hot climate” – they’re only about 1,500KM apart. Germans are more productive, but what does that mean? Monitoring a robot making cars is certainly more productive, but running a small business or a farm certainly requires longer work hours.

Greece needs to tell the EU to stick it up their bottom and then hopefully other nations will follow and the one world communist government will crumble and its proponents go to hell.

Who cares if one of the 3.000.000 usless Greek civil servants is sitting 10h more in front of his PC, súrfing the web. Efficency = Outcome in relation to worktime put in. Besides the real retirement age in Germany is much higher than in Greece.

Do you actually know that the Marshall plan benefited not only Germany but also the other war torne countries and that the total aid, spread over a period of 14 years, only had a value of 12,4 billion by then? That's worth around 75 billion US $ today. The last aid payment agreed to Greece is already double that amount!!!

Besides, the Marshall plan was a political project to prevent Communism spreading from Eastern to Western Europe. The German Wirtschaftswunder is owed to hard work, abstinence and a certain ability of getting things done that the Germans have.

Just a good article that I would like to share:

http://www.weeklystandard.com/articl...ll_620949.html

I'm trading foreign currencies in the www shopping mall and that's a ship that ain't going down anywhere on the planet even if it's nuked. So my interests are already migrated to a safe heaven. That way:

- I'm not worsening any other country's unemployment(as an immigrant I'll take less than a native of equal caliber)
- I continue to live among friends and family enjoying the most advertised beaches of the world while
- I have the opportunity to SORT every drop of lager Mr.Schaeuble, his co-patriots and their ancestors ever had.

Maybe it's not the definition of a win-win situation but it has more pros than your suggestion. And if it fails I'm going to enjoy it till my last breath.

The ship has already sunk and Greeks are swimming towards the coast. When they'll do so they'll built a stronger ship and only if I stay I'll get first seat

Absolutely spot on, the rest of the worlds politicians have yet to smell the coffee.

If Europe were unified then who would they go to war with next America, China,Russia, North Korea. This entity called Europe is a cancer.

Schaeuble said Mr. Obama should focus on reducing American deficit. ''It's higher than in the euro zone''. What a bad news for USD!

If Santa stops giving presents the kids will stop believe in him and he will be lost in oblivion.

That's the reason he brought you a present despite you were bad boy that year, remember?

The europarty, organized by the Germans since 1990 Schengen agreement for free customs, was over in 2009. That year they refused to pay the bill cash and charged it to the credit card. Up to today they continue to pay only the minimum amount and they are wondering about the growing debt.

Liquefy Siemens, Bosch, Volkswagen, Adidas etc which were profited the most of the false deficit difference. PIIGS+Cyprus couldn't be scams and the Germans so naive, while... smart, to trust them. It is the US that got scammed by... Santa Claus of the European south.

Trade scalping is not disgusting. A Haircut in state bonds is disgusting.

How ignorant so many are here is beyond me. Germany still has to do what it is told by the old Allies and the winners of WW2. It's behaviour is totally dependent on that.

The European project was forced upon Europe to avoid another war in Europe. Germany has to take the burden to pay. Just like it has to had to pay Billions to Israel. Pay up and shut up.

That is the reality.

I disagree. they will continue to pay for their crimes of the 2 WWs as long as there are history books.

But for the EU crimes:

They must pay for creating customs tax avoiding method.
They must pay for their admitted partnership with thieves(PIIGS).
They must pay for presenting the wrong picture in global economy.
They must pay as the inventors, leaders, biggest beneficiaries of the europroject.

They must pay and they will pay with interest.

Indeed, Germany owns 80% of the Greek public sector. Yet the allow it to grow to unbelievable heights with the known results.

Indeed, Greece is a German puppet and creation. Therefore the continuous failure and biggest joke is not Greece but Germany.

Now we agree. Shut up and pay.

Piters has got it right.

Besides, we live in a Pax Americana in Europe, not a Pax Germanica. So don't blame the germans.

Every remotely intelligent person knows the consequences of this situation.