Germany's 'secret plans' to avoid economic disaster if the Greeks have to exit the eurozone

[dipsydoodle]

Source: Daily Mail

Germany has worked out a top-secret Plan B in the increasingly likely event that Greece has to quit the eurozone - to minimise the economic wreckage left for the rest of the world.

Influential news magazine Der Spiegel reported on Sunday that, should Greece fail to implement the scorching economic reforms necessary to stay in the single currency club, German economic experts working for Chancellor Angela Merkel have been designing a 'limited pain' exit for the country.

>

Greece's departure might even be good for the eurozone, because 'without the weakest link the chain of member states would be strengthened', according to the magazine.



Read more: http://www.dailymail.co.uk/news/article-2060936/Eurozone-debt-crisis-Germanys-secret-plans-avoid-disaster-Greece-exits.html

[Endangered Specie]

1. Thank goodness they used "Plan-letter" instead of "Case-color"

[ProgressiveProfessor]

2. A "top secret" plan and its in Der Spiegel and the Daily Mail?

[JustABozoOnThisBus]

23. "Top Secret" ain't what it used to be

However, Der Spiegel has no knowledge of Germany's "Double Top Secret" plan. That's because it's really really secret.

A little birdie tells me the plan is called "Operation Deutschmark".

That's my two pfennigs.

:hi:

edit to add: correction, there's no little birdie that told me anything. Just one bozo's guess that the Eurozone may be fragmenting.

[Prometheus Bound]

3. Here's the original article.

http://www.spiegel.de/international/europe/0,1518,797399,00.html

[dipsydoodle]

4. Thanks

:hi:

[ooglymoogly]

5. I'm with the Greek people on this...they should not acquiesce to

draconian measures to pay crooked banker's gambling debts.

I hope Italy follows suit....a problem 100 times greater than the Greek's.

Iceland did it and against the odds and dire predictions, came out on top and now has the makings of a strong vibrant economy outside the Euro.

[woo me with science]

6. [phone]

It is far past time for all of us to tell the banks what they can do with THE DEBTS THEY CREATED.

[dothemath]

9. that'll show 'em

Yeah, we could elect a repub and bail out the banks again. and again. and again until this country joins the ranks Somalia and Afghanistan. That'll show 'em, by George (as in Bush).

[Psephos]

Or we could re-elect a Dem and get the same result.

As a cursory examination of the past few years will show.

[ooglymoogly]

24. Yeah...we tried that....we just forgot to check the credentials and hoped for change..

and it ain't work'n out.

[SkyDaddy7]

8. What??

Yes the banks played a role but Greece brought on a lot of their own economic troubles...Their economy/government was failing anyway.

Iceland's entire economic system collapsed & they just completed a 33 month bailout from the IMF?

[JDPriestly]

14. The same can be said of every country in the West except maybe Germany.

Here, wealthy people dismantled our factories and installed the equipment in cheap labor countries or outsourced clerical work.

What are people in our country supposed to do if our jobs no longer exist?

The government is no even mentioning retraining. It would be a waste of money and they know it.

Reagan era thinking that focuses solely on what is good for the very rich had finally worked its way through the fabric of our entire society.

The only hope is to end free trade and replace it with Buy American, Buy Union.

[ooglymoogly]

17. Yeah...about that Iceland thing....The "bailout" was on

Iceland's terms. The IMF was desperate for any country, not be shown as thumbing their noses at them; as Iceland did. Iceland said, in effect...Hell no, the people of Iceland are not paying for the banks gambling debts, (the banks) fully expecting to be bailed out. The banks, however, were not too big to fail...and those on the front lines of the debacle, those who showed the greatest losses, ate much of their losses and failed and were essentially nationalized.

Greece will, no doubt, learn from Iceland's lesson in fair, true, regulated capitalism.

Yes many Icelanders lost property, but Iceland never forsake the weakest among them, and therein lies the lessons of a strong government holding onto its economy and it's dignity.

Greece and Italy will follow and so on....as it should be.

OWS and the forces it represents, may just insure that the "democratic" U.S. of A follows...the last big oligarchical domino to fall.

And from that failed experiment in gross unbridled greed and fascism and theft, a phoenix will be born....and it will be a carefully regulated capitalism; in close partnership with Socialism, as in the brilliance of the actions of FDR, who created the vital and necessary middle classes.

[SkyDaddy7]

20. Sorry, but that is SPIN SPIN SPIN!

Iceland is not out of trouble & the government's poll numbers are around 10% approval because the Government is doing what the IMF is suggesting they do.

I like the spirit of your comments but they do not reflect reality.

[ooglymoogly]

22. You are missing the point

Except in a dictatorship, the government needs the consent of the governed. That 10% approval rating is the determining factor here.

The approval forced the default in the first place.

Do you believe now, that the other 90% is going to allow this government to attempt the impossible, or force them to swallow a poison pill.

The bailout and the high and mighty bloviations of "all's well in Denmark" are a save face for the IMF to mitigate their abject loss; for they know, absent becoming a dictatorship, 10%cannot force it's will on the 90%

The 10% will inevitably bend to the will of the 90%, and the 90% have spoken.

As this continues to unravel, it will become clear that the first domino has fallen and Greece has already become unhinged and the rumblings throughout the Euro zone will soon become an earthquake.

[dkf]

10. Honestly people that think the banks are responsible for Greece's debts

are not paying attention.

Greece spends too much and collects too little.

[abelenkpe]

12. Yeah right

They should raise taxes on the un and under employed and yes the banks created the mess. They lent to people and governments knowing they could not possibly be paid back. Why you always defending banks?

[dkf]

13. Because people aren't forced to get a loan. And I say most people should be cut off from debt.

If I had my way there would only be loans for cars, houses and other big purchases and credit cards would be paid off monthly.

[ooglymoogly]

18. Let me introduce you to a little used word these days....

usury or usurious. The word that is the crux of the debacle that is so cleverly being played out, then obfuscated with bald faced, cynical propaganda to cover the crimes so gross and calamitous, they can only superficially be understood.

[JDPriestly]

15. So do you. Just wait until our austerity measures are announced.

[tama]

16. Do you agree

that Greece spends too much on debt interests - and too little on social programs?

[gmpierce]

11. Not really

Iceland defaulted and avoided the worst. Then the politicians took over and the newly reorganized banks in Iceland are busy sticking it to the common people. Iceland does not have bankruptcy for ordinary people and unless they overthrow the government, they are once again screwed.

[ooglymoogly]

19. But that is the point...The people did not, nor will they accept

draconian measures...The government of Iceland is walking a razor thin tight rope and could lose the support of the very well educated citizenry at the drop of a hat. The default was a thumbing of the nose at the IMF and the scramble for the IMF is to make that appear not
to be so; that in the end Iceland crawled back under their thumb.

The citizens of Iceland brought the default about and so to, will they defeat any unfair draconian measures any politician tries to yoke them with.

[lovuian]

7. the Greek people are not going to follow the Austere measures

no matter what their politicians say

[ooglymoogly]

21. And that in a nutshell is what the international bankers are

quaking in their boots about. Their dreams of a fascist new world order may just be blown to smithereens here. Iceland pushed the first domino...

The IMF used all their herculean might to make it appear the first domino has not been unbalanced...Greece may be the final force to start the dominoes crashing down...at the end of the dominoes is a house of cards whose foundations are just 1% of the 99% they control.

[dipsydoodle]

26. They' ve not got a whole lot of choice

The absense of income tax has already been partly off set by increased vat and a property tax. There will also be sell off of state owned assets.

[sofa king]

25. At least it's not Operation Marita

http://en.wikipedia.org/wiki/Battle_of_Greece

[Demeter]

27. How Secret Can It Be?

And what makes it likely that little ole Greece would be the fly in the Euro?

Try taking out Germany. Then the playing field is much more level for the remaining members.