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18 Signs That The Banking Crisis In Europe Has Just Gone From Bad To Worse

With each passing day, the banking crisis in Europe escalates.  European banks are having their credit ratings downgraded in waves, bond yields are soaring and billions of euros are being pulled out of banks all across the eurozone.  The situation in Europe is rapidly going from bad to worse.  It is almost like watching air being let out of a balloon.  The key to any financial system is confidence, and right now confidence in banks in Greece, Italy, Spain and Portugal is declining at an alarming rate.  When things hit the fan in Europe, it is going to be much safer to have your money in Swiss banks or German banks than in Greek banks, Spanish banks or Italian banks.  Millions of people in Europe are starting to realize that a "euro" is not necessarily always going to be a "euro" and they are starting to panic.  The Greek banking system is already on the verge of total collapse, and at this rate it is only a matter of time before we see some major Spanish and Italian banks start to fail.  In fact it has already been announced that the fourth largest bank in Spain, Bankia, will be getting bailed out by the Spanish government.  It is only a matter of time before we hear more announcements like this.  Right now, events are moving so quickly in Europe that it is hard to keep up with them all.  But this is what usually happens in the financial world.  When things go well, it tends to happen over an extended period of time.  When things fall apart, it tends to happen very rapidly.

And at the moment, things across the pond are moving at a pace that is absolutely breathtaking.

The following are 18 signs that the banking crisis in Europe has just gone from bad to worse....

#1 Moody's has announced that it has downgraded the credit ratings of 16 Spanish banks.  Included was Banco Santander, the largest bank in the eurozone.

#2 Shares of the fourth largest bank in Spain, Bankia, dropped 14 percent on Thursday.

#3 Overall, shares of Bankia have declined by 61 percent since last July.

#4 Shares of the largest bank in Italy, Unicredit, dropped by about 6 percent on Thursday.

#5 According to CNBC, a Spanish bond auction on Thursday went very poorly....

The Spanish Treasury had to pay around 5 percent to attract buyers of three- and four-year bonds. The longer-dated paper sold with a yield of 5.106 percent, way above the 3.374 percent the last time it was auctioned.

#6 The yield on 10 year Spanish bonds is back above 6 percent.

#7 In recent days, about eight times more money than usual has been pulled out of Greek banks.

#8 Fitch has slashed the long-term credit rating for Greece from B- to CCC.

#9 The European Central Bank has cut off direct lending to at least 4 Greek banks.

#10 According to a recent German documentary, financial records at the Ministry of Finance in Athens are being stored in garbage bags and shopping carts.

#11 The euro hit a 4 month low against the U.S. dollar on Thursday.

#12 It has been announced that the Spanish economy and the Italian economy are officially in recession.

#13 The Spanish government is becoming increasingly concerned about the bad loans that are mounting at major Spanish banks.  The following is from a recent Bloomberg article....

The government has asked lenders to increase provisions for bad debt by 54 billion euros ($70 billion) to 166 billion euros. That’s enough to cover losses of about 50 percent on loans to property developers and construction firms, according to the Bank of Spain. There wouldn’t be anything left for defaults on more than 1.4 trillion euros of home loans and corporate debt.

Taking those into account, banks would need to increase provisions by as much as five times what the government says, or 270 billion euros, according to estimates by the Centre for European Policy Studies, a Brussels-based research group. Plugging that hole would increase Spain’s public debt by almost 50 percent or force it to seek a bailout, following in the footsteps of Ireland, Greece and Portugal.

#14 Civil unrest is rising to dangerous levels in Italy.  The Italian government has assigned bodyguards to 550 individuals and has increased security at about 14,000 locations in response to recent violence related to the economic crisis.

#15 Governments all over Europe are rapidly making preparations for a Greek exit from the euro.  The following is from a recent article in the Guardian....

The British government is making urgent preparations to cope with the fallout of a possible Greek exit from the single currency, after the governor of the Bank of England, Sir Mervyn King, warned that Europe was "tearing itself apart".

#16 According to CNBC, the banking crisis in Europe is beginning to affect global trade....

The euro zone debt crisis is affecting trade as companies shy away from dealing with firms and banks in countries deemed at risk of contagion, a senior banker said on Thursday.

#17 Moody's downgraded the credit ratings of 26 Italian banks on Monday.

#18 Moody's has announced that it is reviewing the credit ratings of 114 more European financial institutions.

Newspapers all over the globe are speaking breathlessly of a potential Greek exit from the euro, but it is very unlikely to happen before the next Greek election on June 17th.

The rest of Europe is going to continue to financially support Greece until a new government takes power.

If the new government is willing to accept the previous bailout agreements, then financial support for Greece will continue.

If the new government is not willing to accept the previous bailout agreements, then financial support for Greece will stop.

If that happens, the bank runs in Europe will likely become a lot worse.

But for now, Greece almost certainly has at least one more month in the euro.

Beyond that, there is no telling what is going to happen.

Greece is the first domino.  If Greece falls, you can count on others to eventually start tumbling as well.

The second half of 2012 is going to be fascinating to watch.

Hopefully things will not be as bad as many of us now fear they may be.

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  • bojangles

    there are alot of “ifs” in this article. Truth is, nothing has definitly changed.This could all be pressuring for the new Greek government to stay with the austerity measures they said they would do. I don’t expect anything to change at all. Some concessions will be made for Greece, so they can stay in the euro. this does make for interesting reading. good article

    • McKinley Morganfield

      “I don’t expect anything to change at all.”

      I think you are engaging in wishful thinking. The Greeks are not going to accept the terms of the bailout. Granted, the Germans may relent a bit and insist on less harsh measures; but the Greeks will demonstrate at the ballot box and on the streets that they reject any plan that decreases their desire to continue to ride the gravy train. More importantly, the German public is going to push back hard. They deeply resent having to prop up Greece and will double or triple down on their resentment when asked to prop up Italy, Spain, and Portugal which will be necessary before too long.

      • bojangles

        The greeks will demonstrate at the ballot box and on the streets” They already have,but its gotten them nowhere. The elections were held,and noone could do anything. So elections are going to be held again next month, until they (the greeks) come up with a viable government, and stand united,all they are doing is running around in circles. Besides its better to make concessions to get your money back,than it is to lose all of your investment. Only time will tell. They have a month to decide.

      • whteshark

        McKinley is right. The German voter has had about enough of bailing out the Greeks while they run around acting completely ungrateful. Furthermore, Merkel may find herself on the Sarkozy train if she keeps using German tax payer money to bail out the rest of Europe.

        I think in the end there won’t be enough money to save Europe or us when contagion crosses the Atlantic.

        • Snow White

          Sometimes you have to pull the tooth.

      • Paranoid

        Do not forget one simple fact that overshadows all others; GREECE CANNOT PAY. It’s not in budget balance even if it owed nothing. Do you think Germany or France or ANYONE can support them forever? It’s going to end sooner or later. All that’s going on now is how much money can we get from the taxpayer before it all goes down

        • Snow White

          There is no concievable scenario where Greece will be able to EVER become financially healthy. In modern times, Greece has not produced enough to allow the average Greek to live more than a third-world lifestyle. Germans’ backs are broken from carrying Greece.

          • Poor Germans

            Are you sure poor Germans and others are supporting the so called weak countries for free?
            With the interests they are being obliged to offer, and taking into account that others pay nearly nothing, borrowing and lending is great business even if you don’t get all your money back!

    • thiscreepingmalaise

      You say you do not expect anything to change at all. Perhaps you should look into the term “normalcy bias”!

      • bojangles

        normalcy bias, I know what it means to me. I don’t want anything to change. Don’t you think everybody has that to a certain extint? I know things are going to change,but do I want to destroy my life or anyone else’s? the answere is no. Our leaders know this as well, They know that we as a people will go to great lengths to stay normal,so we give more freedom up everyday to stay that way( normal). that also can be a useful tool to control the population

    • Greg

      I agree there are a lot of “ifs” but by taking the article in its entirety, the continuation of economic depression has no end in site. The end obviously, if this continues, will be the collapse of the EU. None of the economic injections into Greece has really staved off this continued downward spiral. There is no positive upward trend, just blips when capital injections happens. That ends when the realization is there is no productive capital being generated to keep up with the demands of Greece and many other types of government in the EU (very large dependency on government in their economic systems). If the nation is not profitably productive in their economy, the only ones making money are the ones injecting capital into those economies through interest. That get paid before anything else.

    • Marius

      You’re right to take the article with a grain of salt. Scandinavia is a part of Europe, and living here in Norway, it would have been impossible to know about the recession if not reading international news.

  • Swiss Genome

    Don’t under estimate the Europeans and in particular the Germans. This is about a political union of the E.U. countries and that is more than likely going to happen with or without Greece. It just going to take more time.

    • Bone Idle

      Correct.

      (a) The Euro Common Currency Project was unsustainable while it was an idea in someones head – well before it was implemented. Doomed!!

      Plus

      (b) The underlying world problem is not even being discussed – ridiculous amount of debt – sovereign in personnel.

      (c) Third underlying problem never discussed – derivatives

  • arm

    This photo is splendid.

  • michelle

    preview of coming attractions here?

  • http://TheEconomicVoice Gregge Johnson

    The World Bank and IMF seems to be quite pleased,that all their plans are progressing >>>>>the Euro collapes and then the US dollar

    • http://thetruthfulone.com The Truthful One

      Agreed Gregge, the same elite bankers control
      ~ the World Bank;
      ~ the International Monetary Fund;
      ~ Germany, France and thus the E.U.;
      ~ the Federal Reserve;
      ~ the Central Bank in almost every country in the world;
      ~ the United Nations;
      ~ the nation of Israel;
      ~ the Vatican treasury;
      ~ the Royal family and all their colonies;
      ~ Goldman Sachs, Bank Of America, HSBC, JP Morgan Chase, Citigroup, Wells Fargo and many more banks and financial companies;
      ~ and all the major oil companies, Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco;

      They created their own country, the City State Of London, where they are not regulated by International law.

      They created the federal district of Columbia, Washington D.C., which is not a state, to regulate law in the United States and to control the government and money supply.

      They recreated the nation of Israel, to take control of the oil in the Middle East.

      They created the secretive Swiss banking laws, so that they could hide their money in their organization called the Bank of International Settlements.

      They empowered Mao and now control China, which is becoming their new superpower, where they are building massive warehouses to store raw goods, and many new oil refineries to process all of the oil coming out of Iraq.

      “Control oil and you control the nations; control food and you control the people.” – Henry Kissinger.

      They are really close to collapsing the E.U. and the U.S., and thus the world, into a one-world financial system and government. But they are greedy, so they are working hard to maximize the debts of every country and person, so that they can own it all.

      “We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.” – David Rockefeller

      • Saq

        Great post! You should write articles. I learned more from that post than a couple weeks of research.

      • Elli bloom

        So glad i looked here, i am really confused about whats going on and all my life thought money was money and the people in power where taking care of us all. welll i am awake now and cant believe whats really going on all around us and now i am awake i see many still asleep, like sheep following false leaders and teachers leading them astray, please keep in touch u know things i am trying to find out more about. everyone needs to know the governments are never going to prepare us for the chaos they are just going to shut themselves in a hole and hope they are safe. not if i find them first they have destroyed my family and our planet, we all need to start thinking about standing up for oursleves and not with fancy words…

  • LadyLiberty

    Ha Ha Ha: Greece Figured It Out!

    http://market-ticker.org/akcs-www?post=206131

  • ken nohe

    The list is long but not frightening. What is concerning is the risk of a chain reaction which through the derivative markets could well blow the world financial markets. They suddenly it would not be Europe’s problem anymore but everybody’s problem.

    What is the chance? Hard to say but the longer we play with fire the more likely we will end up with a conflagration.

  • http://www.thezeitgeistmovement.com TheSpiritOfTheTimes

    Sorry folks, nothing will change at all. As we have seen in the past years now (!!!), this situation can and will go on for much longer. We have passed so many points were the system should have died on it’s own, but it did not happen (remember how long it took for the USSR to fall apart?).

    Why? Because the sheeple support it. It would not surprise me at all if there really was a change in voting behavior at the next election in Greece. The sheeple will get scared of their own courage. And after all they have punished their glorious leaders and now everything will be fine. After all they do not want to change the existing system, yes they even want to stay in the EU, the Euro and all.

    We have also seen in the past years that reality is now litterally created (printed???) out of thin air. Based on historical facts we know that it will take tremendous pain for people to rise up (did that happen in Germany in the 30s, when everyone knew what was happening?). Look at what happens in Syria for example. Are people there rising up? Some, yes. But the majority sits and waits (maybe for an Afghanistan style “liberation” by foreign forces). So you can imagine what it will take for people in Greece to finally rise up, or the financial system to fall apart. Funny.

    Sorry folks, it’s not going to happen. If you want any change then YOU have to become the change you want to see in this world. So how likely is that?
    Exactly. It’s not going to happen.

    And now go back to your TV sets and watch some brain wash.

    • GaryToo

      you say to the people accessing alternative news. About as bacward as your assessment of the syrian “some” and “most”. Have you seen the size of the crowds going out repeatedly to protest and be shot at? What is not going to happen is any of the pies in the sky posted in your link.

  • chiller

    It’s obvious Greece is being supported financially, not for Greece’s sake, but for the EU’s survival. If Greece leaves, bank runs will occur in the other pig nations, which will start them in the rest of the EU as the pigs will devalue the Euro to the point of all out panic throughout all of Europe.

  • Steve

    What you have to watch is the meltdown of the Global Derivatives bubble it will be horendous.

  • pete

    This is the part where the future generations of Greece give the central bank the finger and are not enslaved for all of eternity.

    Before this is over, all of our children and future generations are going to give our central bank the finger too.

  • davidmpark

    Notice in the links how many are pretending calmness and giving reassurance. Old banker’s trick: because their greatest asset is out trust. A run on just one bank is enough to destabilized the markets, and then when money is moving too fast in too many directions then all the markets feel it. This is another reason the derivatives and FOREX are going bat-crap insane right now.

    Many will exchange more funds into gold and other precious metals, but that won’t work long term. For precious metals to work as currency localities need strong agriculture, mining, manufacturing, and producing industries to back it up. They don’t need it strong, just free from heavy regs/controls and some small companies already going. That’s all fading here in the US and in the EU.

    So, then many gov’s go with capital controls, freezing foreign assets or confiscating funds at the border – preventing any money from leaving their jurisdiction. The Italians are doing this now and calling it Technocracy. The US is also doing this in a manner of speaking with multiple methods of progressive tax codes and now wanting to fine anyone 30% of their wealth for trying to renounce citizenship. And this behavior will be the end of the monetary system et al.

    And that is the point. Chaos to gain power over mankind’s consent at any cost.

    Money is not going to bend itself foolish men’s dreams of pretended power and playtime ideas of glory; it seeks out men of wisdom and production. That it’s nature – it’s law; not man’s law. One would think that after 6000 years of well-recorded history we wouldn’t constantly repeat this foolish scenario.

  • a lot more trouble…

    The banking crises is already having a ripple effect, but the Economic tsunami hasn’t hit out shores yet but here is a preview of what’s happening now and more to come:

    Huge job cuts rumored to be looming at Hewlett Packard
    ‎San Jose Mercury News – 6 hours ago
    In what could be Silicon Valley s largest layoff ever.

    Massive Police, Fire Layoffs in New London
    ‎NBC Connecticut – 12 hours ago
    Mayor Daryl Justin Finizio called the cuts “draconian”, but said he has no other options.

    Layoffs start at Rosetta Stone
    ‎Washington Business Journal – 17 hours
    Arlington-based language learning software maker Rosetta Stone Inc. is shrinking..

    Hostess Brands warns of layoffs
    ‎Buffalo News – 22 hours ago
    Hostess Brands has issued layoff warnings to employees around the country

    More Than 1000 Teacher Positions to be Cut
    ‎KLAS-TV – 1 day ago
    15 Layoff Notices Issued in North Las Vegas …

    As Gerald Celente has predicted “Billions will unemployed globally by Autumn of 2012, and left homeless and starving”

    Get ready people the worse is still to come
    Pray everyone pray.

    • Rodster

      HP announced they are laying off 25,000 or around 7% of their workforce. They have been struggling to keep up with losses, competition and failed products like the HP Touchpad.

  • Just a Joe

    June 17th? Word is that Greece is leaving the Euro today

    • Jodi

      Where did you find this news? Too many distractions from the FB IPO today. Please post, Thanks.

  • Kelby

    When that new government comes around, i’m willing to bet they WILL accept the bailouts and the party’s just gonna go on (for a measley month or so! xD) And then the next time Greece is in trouble, everybody’s gonna say “No more!!” and then the dominoes are gonna start crashing down…

  • jox

    Another round of attacks from the anglosaxon finantial powers and its armed arms, the media and the rating agencies. When the dust settles and the new Greek government abide the agreements with EU, then all of these exaggerated fears will disappear, and the attention will return to the really dangerous places: US and UK.

    How many times have you predicted the exit of Greece and the break of the Euro in the last 3 years?

  • Naive Optimist

    “The key to any financial system is confidence”. You believe in this, yet I do not sense any inspiration in this article. Yes I know you are just laying down the facts, and it is important to report what is actually going on, but you can also convey this a sense if optimism.

    All the articles on this site are so negative. The articles are very honest and I respect that, but if you believe that “confidence” is important for any financial institution, isn’t it our duty to inspire some of it?

    Tell the truth as it is, but keep the tone hopeful.

    • GaryToo

      Indeed naive, what is the point, to be complacent and caught with your pants down?

  • http://lnx-bsp.net/ Tel

    Here’s my theory as to why Greece will default on their loans but not leave the Euro. There’s no value in it for them if they do leave the Euro. At least Euro has well understood value, if the Greek government prints Drachmas those will have no value, people will quietly keep using Euros. You can’t fix a lack of confidence by money printing, and if Greece leaves the Euro confidence will be lower than if they stay.

    Also, Germany wants Greece to stay, and France also wants them to stay, so they will offer something conciliatory. Not something good mind you, just something that’s better than nothing. The more desperate Greece gets, the more attractive that crappy offer is going to start looking.

    Lastly, it’s unfortunate but the troubles in Greece actually strengthen the Euro for several reasons. Greece did the dodgy in the first place by dishonest accounting, so if they get punished for this, then it serves as a lesson to the rest of Europe that treaties really are serious, and cheaters don’t win. This is a very healthy lesson. More than that, if the ECB can stand up to the crisis and resist the temptation of printing money, then the treaty is further strengthened and this in turn reminds people that they can trust the system.

    Ultimately, if you are going to have the Rule of Law, you simply need to have a line drawn somewhere.

  • Evie

    40% of the stock market or more is based on profits outside of the usa. It is never good when there is a run on the banks. It may be just as bad as the run on mortgage dirivites.

  • Cinderella Man

    Dont worry about the US economy Facebook is going public today!! Yay!! Buy shares in a basically worthless company that offers mediocre advertising and is a place to share what your cat is doing and what you are eating for breakfast! Ol Marky Z is goinng to save the world!! LOL

  • Stan522

    Predicting when the Euro-zone will finally crumble is equally predictable as those who profess to know when Jesus Christ will be with us again. I’ve been reading articles like this for two years and it seem whenever things are on the brink, desperate politician’s and bankster’s pull something creative out of their assess and things move on…. under a new normal.

    I have no doubt these governments will topple because of all the unsustainable debt…. I’m just not convinced their proverbial “butts” are empty of desperate ideas yet…

  • lisaloolibell

    I have a friend in Athens, she is in her twenties and is an unemployed architect. I keep telling her to get out of there and come to the UK but she seems to think that everything will be ok after the elections. Personally I think its game over and not just in Europe.

  • Gary2

    guess that austerity stuff ain’t workin out too well. Just wait till the austerity is tried here in the USA. There are a lot of guns here.

    • Rodster

      And the military and National Guard have even bigger guns. Come on for once try not to be stupid.

    • GaryToo

      “austerity stuff” is simple reality of running out of money you do not have. It is cutting spending money you do not have. How is the alternative working out? Increasin debt exponentially that is until you can not meet even interest repayment and default. If you dont like austerity go and buy a cadillac with your visa card or house as collateral. If u cant afford to run a cadillac trade down to a toyota thats trying austerity. Or refuse to face eality until operation repo comes for your cadillac. Then u walk.

      • Snow White

        The “austerity stuff” will happen one way or the other. Gary2 seems to think that Germans will be willing (able) to support the rest of the EU forever. All it can do is drag Germany down. Even the “unsinkable” Titanic was abandoned.

    • El Pollo de Oro

      Gary2 in Wisconsin: Austerity measures will accelerate the widespread implementation of the dreaded Desperate People Doing Desperate Things Tax (DPDDTT) in The Banana Republic of America. When that happens, God help us (those who are presently paying the DPDDTT in Ciudad Juarez, Caracas or Port Moresby know how nasty it can be).

      In the words of Gerald Celente, “when the money stops flowing down to the man on the street, the blood begins flowing in the streets.”

  • Gary2

    Maybe the governments should appropriate (take) all the money from the Facebook IPO.

    Talk about a mainly useless overpriced product.

    I heard that Facebook is still getting a tax refund in spite of the big IPO. What a joke.

    Then there is that rich Facebook guy renouncing his citizenship. I hear even the republicans are upset at this.

    • Stan522

      Let’s look at this behavior… we have a product that someone (a lot) wants to buy at a price set by the market. We have an inventor with an idea come up with a product/service that many people want (probably including yourself Gary). We have a businessman trying to reduce his tax burden (extreme, I agree), with the only difference being there are a lot more “zero’s” at the end of his tax burden than the rest of us. If you fill out your tax return with ANY deductions, then you too are trying to LEGALLY reduce your tax burden.

      Rather than disdain for the free market and hate for an entrepreneur, I suggest those in government come to realize that they can pull in a lot more tax revenue by making it more business friendly. Reduce the corporate tax burden (they pass all taxes in the price to the consumer anyway) and encourage investment within the United States. Instead, we have upchuck Schumer calling for more draconian laws to step on people’s money and chase more out of the country.

      • McKinley Morganfield

        Good post. Treat everything an individual earns (including capital gains, executive bonuses, stock options, food stamps, etc.) as income. Tax income in a tiered flat tax system. Below poverty line pays 0.5% just so they have some skin in the game. Then draw up brackets (based on income) of 5-10-15-20%. No gaming the system, no deductions — FLAT. DC would take in more money than it does now and capital formation and investment would be encouraged by the stability and certainty such a system would bring. Unfortunately, its not going to happen.

    • Snow White

      I agree that Facebook is pretty useless (who EVER buys because of these ads?) The guy who renounced his US citizenship obviously decided the price was too high.

  • http://thetruthfulone.com The Truthful One

    The joke is that the Rothchild family is in control of all of this and is simply using it to enslave all of the countries into debt, so that they can own them all.

    The economies of Germany and France who control the E.U., are owned by the Rothchilds.

    Rothchild owns Goldman Sachs which helped cause the Greek financial crisis by giving them billions in loans under the table.

    The Federal Reserve has given the E.U. bailout money, and it’s controlled by Rothchild and the other private bankers.

    The International Monetary Fund, which acts like a financial savior, while enslaving countries into further debt, is controlled by the Rothchilds.

    Here’s a list of Central Banks that the Rothchild family controls http://thetruthfulone.com/central-banks/

    You’ll notice that it includes Central Banks in Iraq and Libya, which just happens to be where our military helped overthrow the previous leaders.

    That would be because the Rothchilds control the government of Israel and the United States, which uses our military to execute their evil plans.

    Visualize the whore of Babylon riding the beast in the book of Revelation. Rothchilds Israel controls the United States. Ask Netanyahu, he’ll tell you it’s true.

    • Mickey

      Wow! Thank goodness the thread didn’t end before the Jews got blamed (again) for the world’s problems!

      Gee, where have we heard THIS before?

  • mondobeyondo

    All of western Europe is on really shaky financial ground. The youth unemployment rate in Spain is absolutely horrific. The country is going down the tubes. There’s already civil unrest there. Soon, there will be MAJOR civil unrest. Italy will be the next egg to crack.

    It is highly doubtful the Greek government will make more austerity concessions. They’re already hurting. So, most likely they’ll just bail out of the euro.

    Expect a major crisis in Europe by this summer, this fall at the latest.

  • Washington

    Spy Drone Nearly Collides With Jet Over Denver 5/17/12

    http://www.youtube.com/watch?v=MNYUYZ86Zz8

  • Evie

    My solution is instead of giving banks bailouts for more gambling money_invest in human capital and not the pie in the sky free lunches and educationsl reform that will take decades to see. Invest in education for people now with good paying jobs. Singapore did this_guess that is why they are having a real recovery. Populace just do not want to be debt slaves to the elite and their failed systems. We will see collapse in a couple of years if this continues. No one has confidence in the banking system anywhere in the world. They are thieves.

  • http://worldendsat5newsat11.blogspot.com Roberta Lamb

    Just imagine if you will your an average joe shmoe in Greece and with 5 dependants and your normal meal is a big bowl of soup, 2 big slices of bread, cakes maybe some cookies or candy as an appitiser. NOW you got a bowl of watered down soup and one slice of bread to split 6 ways and you can forget about the cakes, candy or cookies, What you gonna do when you look into the faces of your starving children?
    You are gonna vote for who ever tells you they can fix your problem (weather they actually can OR NOT, because you want to beleive).
    They will tell you, YOU did not borrow the money to put your government in so much debt, YOU did not OK these loans (kind of like our bail out loans uh?) You did NOT vote for these loans and had no say on these loans.
    NOW they want to take your only slice of bread out of your childrens mouths to pay some big shot banker in a high hise office in Brussels.
    (I DON’T THINK SO)!!!
    People in Greece are desperate, desperate people do desperate things.
    SO who ever makes the biggest promise to make things better will be voted in. They will stop the loans, bailouts, stop the payments on those loans, there will be runs on banks, not only in Greece but in Portugal, Ireland, Spain, Italy even in France and that’s when you know SHTF.
    That’s when the Eurzone will collapse and then the contageon will come to US!
    See how to survive the coming Economic Apocalypse…
    DO NOT (just) buy Gold & Silver, YOU CAN’T EAT GOLD and SILVER WILL NOT KEEP YOU WARM & Diamonds and Platinum will NOT protect your family.
    See a Serious and Real FREE survival plan for you & your family at:
    http://surviving12-21-2012.blogspot.com

  • Mad Max

    What difference does it make. We know the train wreck is coming our way sooner or later. And what are we doing about it? We are doing nothing, like the fools we’ve always been. You have a choice.

    FIGHT THE CAUSE – NOT THE SYMPTOM
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

  • http://yahooooooooo Yingotsyang

    Til the flood recedes-print more money, have food and water on hand and drink some good wine. Oh yeah, and pray like you’ve never prayed before. Viva Christo!

  • http://www.spazgraphic.com Spaz

    Caesar can have his gold, I don’t want it.

  • mondobeyondo

    If you are/were fortunate enough to see the annular solar eclipse this Sunday visible in the western U.S., you have already seen our financial future.

    A very dark center, with a “ring of fire” around the edge. That will be the U.S. economy in the next few years. Isn’t it strange that this event is only visible in the western U.S.? Could it be a forecast for California, Arizona and Texas? Doom for the Western housing market?

    Nope. Purely a coincidence. Don’t read toooo much into this. Sorry you won’t be able to see the eclipse on the east coast.

  • Washington

    “If I wanted America to fail”
    http://www.youtube.com/watch?v=CZ-4gnNz0vc

  • JR

    OBUMBLER WHITE HOUSE: A FULLY OWNED DIV. OF GOLDMAN SUCHS

  • Me

    Madness?

    This.

    Is.

    SPARTAAAAAAAAAAAAAAAA!

    Hahaha!

  • Me
  • http://economiccollapseblog.com bill

    if someone is lending me money i either accept there terms of there loan or dont borrow money,whats the problem
    germany isnt the bad guy,if greece dont want the terms of the bailout,dont be a bum nothing is free either accept the terms or dont,get your own currency back out of the euro.
    have you ever heard the term (man up)well be a man take your licks it might be rough but man up do what you got to do,let others worry about what happens to them,its there problem not yours just collapse get a new currency and move on.
    everybody wants to be a welfare person just give me free stuff i dont want to work for it,im sick of that u.s. citizens are getting just as bad with these entitlements just get a job and pay your own way,stop being a bum and man up!!!!!!!

  • andrewleiner

    x The Euro is doing what it was designed to do, collapse. Why? Because it was only meant to be a step toward a One World Money used to create a One World Government which will be used to form what Satan has been working toward for all these thousands of years, a One World Religion. Satan will be worshiped as the number one god and the AntiChrist will be worshiped as Satan’s Sith Lord. When will the Euro collapse? When Satan’s lap dogs are told by him to pull the plug and not one day sooner. I have been waiting for this for 39 years and change. And now it is here. Forty years ago I would do my doomsaying and the people would wag their heads and poopoo me. Now, things have changed. Many nod and many are becoming Preppers.
    ANDREW LEINER MASTER DOOMSAYER.

  • Washington
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