asterisk2a + ackermann   4

The new European Union | Credit Writedowns
[ EU banking system was too big to bail in case Greece and else would default even in parts on some of its debt and or make no or delay repayment with interest in full ] In conclusion, the conditions asked of Greece are not likely to be met, because they cannot be met. Greece will be blamed for not living up to its commitments, as it has been this time around. Yet, somehow, the notion of asking for the impossible from a country that has no choice but to sign is fundamentally perverse. [...] The mistake was to break the no-bailout clause that was designed to make sure the Eurozone would not find itself in this position. For selfish reasons (i.e. preventing a bank crisis in Europe and the US), Greece was convinced to accept the first bailout in 2010.
Greece  bank  bailout  banking  crisis  bank  crisis  investment  banking  retail  banking  TBTF  too  big  to  jail  too  big  to  bail  European  Union  Positioning  ECB  Career  Politicians  lobbyist  lobby  Lobbying  crony  capitalism  corporate  scandal  austerity  accounting  scandal  bailout  bail-in  Cyprus  of  Cyprus  deposit  haircut  deposit  levy  fairness  Generationengerechtigkeit  Wall  Street  profit  maximisation  shareholder  value  economic  history  fiscal  policy  monetary  policy  Basel3  banking  fractional  reserve  banking  EuropeanSystemicRiskBoard  GFC  recovery  Debt  Super  Cycle  Privatisation  ideology  dogma  PIIGSFB  PIGS  PIIGS  France  Germany  Bundesbank  trichet  Jens  Weidmann  Angela  Merkel  Peer  Steinbrück  corruption  blackmail  josefackermann  ackermann  Deutsche  subsidies  subsidizing  Mark  Blyth  social  contract  social  tension  social  cohesion  constituency  Nationalizing  badbank  badbanks  restructuring  monetary 
october 2015 by asterisk2a

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